Global Revenue Of Canned Tuna Market Was Around US$ 4047.47 Million In 2017
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Global revenue of canned tuna market was around US$ 4047.47 million in 2017, which is expected to increase at a CAGR of 2.1% over the forecast period, reaching a value worth US$ 4780 million by the end of 2025. Health benefits associated with the consumption of canned tuna as one of the primary growth factors for this market.
The leading vendors in the market are Dongwon Group, Bumble Bee Foods, Thai Union Group (TUF), Crown Prince, Inc., Natural Sea, Wild Planet, American Tuna, Century Pacific Food, Frinsa del Noroeste, Hagoromo and etc. There are numerous small local vendors presented in each regions, which make the canned tuna market highly competitive and fragmented. In 2017, top 3 vendors (Dongwon, Bumble Bee Foods and Thai Union Group) totally occupied about 52.6% market share, based on sales volume.
Based on product type, the canned tuna market is segmented into Canned White Tuna and Canned Light Tuna. The canned tuna industry is majorly supplied by wild fishing (open sea/ocean fishing) and the market is driven by culinary products like sashimi and sushi. The canned albacore/white tuna segment will account for the major shares of the canned tuna market throughout the forecast period. Canned Albacore tuna is the most preferred tuna by the consumers due to its convenience of consumption, nutritional benefits, and its abundant availability.
Canned tuna products are sold mainly across three channels: branded retail; private label/original equipment manufacturer (OEM); and food services. Based on the distribution channel, the market is segmented into Supermarkets and Hypermarkets, Convenience Stores, Online Retailers and etc. Among these Supermarkets and Hypermarkets distribution channel is the major marketing method for canned tuna, almost 80% of canned tuna are sold through Supermarkets and Hypermarkets in 2017.
Each of the Canned Tuna manufacturers has its own mature sales networks. Through retailer and resells, their authorized distributors or their partners, those Canned Tuna manufacturers keep keen on expanding their Canned Tuna sales. To achieve better sales businesses, Canned Tuna manufacturers usually invest on their marketing channel infrastructure every year.