Global Canned Tuna Market Report and Forecast 2024-2032

Global Canned Tuna Market Outlook

The global canned tuna market size reached USD 23.68 billion in 2023. The market is estimated to grow at a CAGR of 3.91% in the forecast period of 2024-2032, reaching a value of around USD 32.94 billion by 2032.

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Key Takeaways

• In 2021, 6,355 KMT of tuna was produced globally.

• Thailand and Indonesia are major exporters of processed canned tuna.

• Canned tuna is increasingly being preferred over fresh tuna due its convenience, extended shelf life, and economic benefits.

Tuna is a popular seafood and considered one of the top five seafood species consumed across the globe. Tuna is a low glycaemic index (GI) food and a good source of selenium, Vitamin B3 (niacin), Vitamin D, Omega-3 fatty acids, and certain other nutrients. Canned tuna is a versatile food option and can be used in various recipes, including salads, sandwiches, casseroles, and pasta dishes. Cultural preferences and dietary habits in different regions shape the canned tuna market. The European Union and the United States are some of the largest consumers of canned tuna globally.

Consumers’ growing emphasis on ethical sourcing provides an opportunity to companies that focus on ethical fishing practices. By obtaining quality sustainability certifications such as the Marine Stewardship Council (MSC), producers can increase their market share. Currently, almost 30% of tuna caught is MSC-certified.

Key Trends and Developments

Rising sustainability concerns; increasing health consciousness; rising availability through e-commerce channels; and convenience offered by canned tuna are positively impacting the canned tuna industry growth

Global Canned Tuna Market Trends

World's tuna harvest is transitioning from commercial to sustainable fishing, with about 30% of the catch certified to the MSC Standard in 2021. Fisheries improvement projects (FIPs), which aim to move fisheries towards sustainability, account for over 20% of the world's tuna harvest. According to MSC data, sales of its branded tuna products containing tuna sourced from MSC-certified fisheries increased by about 100,000 tonnes in 2020–21. The American market witnessed the largest gain, at around 83%, followed by Europe with 52%.

There is a shift in consumer behaviour towards canned tuna in place of fresh tuna. This shift can be attributed to factors such as busy lifestyles, convenience, extended shelf life, and economic considerations influencing purchasing decisions.

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Global Canned Tuna Market Segmentation

“Global Canned Tuna Industry Report and Forecast 2024-2032” offers a detailed analysis of the market based on the following segments:

By product, skipjack tuna accounts for the majority of the canned tuna market share

About 70% of the canned tuna in the US is constituted by skipjack. Skipjack tuna is an oily, saltwater fish. Skipjack tuna has essential fatty acids, protein, minerals, and fat-soluble vitamins like vitamins A, E, and D. In 2021, the provisional catches of skipjack accounted for about 2,789 KMT on a global scale. In North America, skipjack tuna stands out as the predominant species offered in cans, commonly marketed as chunk light or light tuna.

About 25% of the canned tuna imported into Europe is constituted by yellowfin and other tuna species, such as albacore and bigeye. Yellowfin tuna, majorly found in the subtropical and tropical regions of Atlantic, Pacific and Indian oceans, constitute for about 30% of the total harvest of all tuna species globally. In 2021, the catches of yellowfin tuna amounted to 1,545 KMT globally.

Hypermarkets and supermarkets are the leading distribution channels in the canned tuna market

Strong promotional support helps supermarkets offer a range of seafood products, including affordable canned tuna products. A rising demand for sustainability is compelling retailers to sell canned tuna that is pole-and-line caught and MSC certified, transitioning away from tuna caught using drifting fish aggregating devices (FADs) that catch tuna juveniles before they have had the chance to breed. Major supermarkets such as the Co-op, Waitrose, Sainsbury’s, Marks and Spencer, and Morrisons sell tuna that is sourced without using FADs.

Speciality and grocery stores such as Whole Foods Market and MOM’S Organic Market follow sustainable seafood policies, covering canned tuna products. FishWise, a nonprofit sustainable seafood consultancy works with Aldi, Albertsons, and Hy-Vee to help them procure more sustainable seafood. Also, online channels such as Amazon, Walmart Inc., and Kosher Foods provide a variety and quick doorstep delivery of canned tuna.

Competitive Landscape

The market players are adopting sustainable fishing practices and methods, focusing on equitable labour conditions and traceability to strengthen their market position and increase their revenue

Other notable players operating in the canned tuna market include Bolton Group, Golden Prize Canning Co., Ltd., Frinsa Del Noroeste S.A., KSD Interfoods Vietnam CO., LTD, StarKist Co., Foodtech JSC, and Conservas Ortiz S.A., among others. The manufacturers are upgrading their product portfolios and incorporating the latest capabilities to innovate their offerings and meet the evolving demands of consumers.

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Global Canned Tuna Market Analysis by Region

Tuna is the most consumed fish product in the European Union. Spain is one of the leading producers of canned tuna fish. The country has a geographical advantage; its presence in the Iberian peninsula supports a diverse marine life, including tuna fishes. Skipjack tuna represented the second largest category for the top-produced species in the country in 2020.

Tuna ranked the top in the seafood species consumed in metropolitan France in 2020. France traditionally imports canned tuna from African countries, making it the fourth-largest European importer of canned tuna from non-EU suppliers. About 53% of canned products accounted for Tuna (excluding tuna salads) amongst all fisheries and aquaculture species consumed in French households.

In North America canned tuna market, skipjack is commonly marketed as chunk light or light tuna while yellowfin tuna is marketed as Ahi canned tuna. In the United States, canned tuna is the second-most popular seafood product. Canned tuna enjoys significant popularity in the United States as it is a less expensive and healthy form of protein. About 70% of canned tuna in the United States is composed of skipjack tuna.

Latin America is witnessing an increasing consumption of fish including canned tuna as a healthy alternative to the region’s high red meat intake. Ecuador and Costa Rica have an annual canned tuna consumption of more than 2 kilograms. Over the forecast period, the Asia Pacific is expected to witness a rise in consumption of canned tuna products, emerging as the fastest growing market during 2024-2032.

Key Highlights of the Report

Canned Tuna Market Report Snapshots

Canned Tuna Market Size

Canned Tuna Market Trends

Canned Tuna Market Regional Analysis

Canned Tuna Companies