Central America Canned Tuna Market Report and Forecast 2024-2032

Central America Canned Tuna Market Outlook

The market size for canned tuna in Central America reached a value of more than USD 496.58 million in 2023. The Central America canned tuna market is expected to grow at a CAGR of 5.40% between 2024 and 2032, reaching a value of USD 797.18 million by 2032. 

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Key Trends in the Market

Tuna is a type of fish which is large and a popular type of seafood typically found in warm seas. When tuna is processed and sealed in airtight cans or any other containers, it is termed as canned tuna. It is considered rich in protein with presence of vitamins and minerals such as vitamin A, vitamin D, iron, and phosphorous, increasing its nutritional profile and popularity. 

• Canned tuna is cost effective which enables people to consume protein in the form of canned tuna at lesser costs, ultimately increasing the demand for canned tuna and contributing to the market growth.

• Changes in tastes and preferences of the consumers has also tilted the graph of the market towards growth. People are preferring canned tuna as it provides them with a sufficient amount of protein along with good taste.

• Due to the processing technologies used, canned tuna has a long shelf-life and can be cooked quickly, increasing its popularity and demand amongst working professionals with limited time for grocery shopping and cooking.

• The growing e-commerce industry is a major trend that is driving the growth of the Central America canned tuna market. With advancements in technology everything is available instantly on internet and such easy availability of canned tuna is expected to increase its demand.

Market Analysis

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Based on product, the market can be divided into skipjack, and yellowfin, among others. On the basis of distribution channels, the market is segmented into hypermarket and supermarket, specialty stores, and online, among others. By country, the market is categorised into Costa Rica, El Salvador, Guatemala, and Panama, among other countries. 

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the Central America canned tuna market covering their competitive landscape and latest developments like mergers, acquisitions, investments, and expansion plans.  

• Dongwon Group

• Bolton Group

• Bumble Bee Foods, LLC

• Grupo Calvo

• Camil Alimentos S/A

• Grupo Herdez

• JEALSA

• Tri Marine Group

• Others

Market Share by Product

Skipjack tuna is forecasted to account for a leading share in the Central America canned tuna market because of its increasing demand and popularity. Skipjack tuna, also termed as light tuna, is preferred for its strong flavour and more fishy taste over yellowfin and other varieties of canned tuna. Yellowfin tuna is also often avoided because of the risk of presence of high content of mercury in it. The market for yellowfin canned tuna is also expected to grow but at a slower rate owing to the lower demand. 

Market Share by Distribution Channels

Supermarkets and hypermarkets have attained a dominating share in the Central America canned tuna market owing to the prominence of retail stores including supermarkets and hypermarkets in the Central America region and preference of consumers to shop in-store. Increasing disposable incomes, rising awareness regarding the nutritional benefits of canned tuna, and impulse shopping will act as major factors keeping the hypermarkets and supermarkets as a distribution channel in the market. However, online shopping is becoming a growing trend and might observe a rise in the forecast period. 

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Competitive Landscape

Dongwon Group is a South Korean fishing company that was established in 1969. It is headquartered in Seoul, South Korea. It provides premium quality seafood products contributing to the overall developments of the seafood culture. 

Bolton Group founded in 1949 is based out of Milan, Italy. It is a multinational goods company that manufactures and provides products related to homecare, adhesives, personal care, food, and beauty. 

Bumble Bee Foods, LLC was founded in 1899 and has its headquarters in California, United States. It is a company that produces and supplies seafoods such as tuna and salmon and chicken. 

Other market players include Grupo Calvo, Camil Alimentos S/A, Grupo Herdez, JEALSA, and Tri Marine Group, among others.

Key Highlights of the Report