The global canned tuna market size is expected to reach USD 11.89 billion by 2027, according to a new report by Grand View Research, Inc., expanding at a CAGR of 4.7% from 2020 to 2027. The growing adoption of seafood among consumers is expected to be a key factor for market growth. Moreover, exceptional nutritional properties, coupled with excellent taste and texture associated with tuna species, are expected to expand the market scope over the next few years.
Consumers around the world are increasingly adding canned tuna in their daily meals as it has rich nutritional properties with great taste and excellent seafood experience. Canned tuna is widely used in various daily dishes as well as delicacies, including salads, croquette, sandwiches, burgers, pasta, tacos, and sushi. These dishes are easily cooked in less time at home, and thus they are highly appreciated by the consumers who believe in home cooking and a healthy lifestyle. These consumer trends are anticipated to boost the demand for the product across the globe over the forecast period.
Europe was the largest regional market with a revenue share of more than 40.0% in 2019 owing to the growing preference for nutritious, ready-to-eat, and convenient seafood choices. The U.S. is one of the largest consumers in the world with a consumption of 1.3-kilogram per capita as per the statistics provided by the FAO, Globefish. The Asia Pacific is witnessing decent growth in the market with some of the largest canned tuna consuming countries, including Japan, Australia, South Korea, China, and Indonesia.
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