Rising demand for processed food, especially canned tuna around the world is driving the global tuna fish market, in a report titled “Tuna Fish Market Size, Share and Global Trend by Species (Skipjack, Albacore, Bluefin, Yellowfin, Bigeye, Other Species), By Product Type (Frozen Tuna, Fresh Tuna, Canned Tuna, Others) and Geography Forecast till 2026.” Increasing merger and acquisitions by key players is expected to aid growth of the global tuna fish market.
Launch of Spain’s First MSC Canned Tuna Will Propel Growth
Grupo Calvo, an integrated group of companies dedicated to fishing, processing and distribution of canned goods launched its first Marine Stewardship Council (MSC) canned tuna called Ecolinea tuna for the Spanish market. The launch of the MSC canned tuna is predicted to contribute to the global tuna fish market growth owing to the use of organic extra virgin oil in the product which is certified by the Galician regulatory council of ecological agriculture. Further, the launch of tuna products made up of yellowfin tuna species will boost global tuna fish market revenue. For instance, Thai Union Group, largest player in the tuna market, launched new tuna products, made up of yellowfin tuna species in U.S., U.K., and Asia market.
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Rising Demand for Processed Food Will Enable Growth
Increasing demand for processed food especially canned tuna around the world is predicted to boost the global tuna fish market revenue. The advantages of tuna, being a rich source of protein and omega-3 fatty acids is also a factor expected to fuel demand among health-conscious consumers. Further, the hectic lifestyle of people is leading towards demand for ready-to-eat food which in turn will promote growth of the global tuna fish market. In addition, the rising population pool and growing demand for food around the world is predicted to further augment tuna fish market growth during the forecast period. However, contamination of tuna due to the mercury present in ocean water, as mercury is a toxic metal and has negative health effects on the human body. This factor is a major cause of concern for human health, which is predicted to hinder growth of the global tuna fish market during the forecast period.
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Increasing Consumption of Tuna in Asian Countries Will Boost Growth
Geographically, the global tuna fish market is segmented into North America, Europe, Asia Pacific, Latin America and the Middle East & Africa. Asia Pacific is predicted to dominate the global tuna fish market, owing to the presence of nations such as China, Japan, and Indonesia, where tuna is widely produced and consumed. Further, the presence of key companies such as Thai Union Frozen Products, Plc. and Shanghai Kaichuang Marine International Co. Ltd. In the Asia Pacific market is another prominent reason predicted to contribute to the growth of the tuna fish market during the forecast period. Europe is predicted grow at a significant rate during the forecast period. The rising import and consumption of tuna species by prominent European countries, such as Spain, France, and Italy is a factor likely to propel growth in the region.
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Some of the key companies that are present in the global tuna fish market are Thai Union Frozen Products, Plc., Bumble Bee Foods, LLC., Shanghai Kaichuang Marine International Co. Ltd., Albacore Group LLC., The Jealsa Rianxeria S.A.U. Group, StarKist Co., Bolton Alimentari S.p.A., Ping Tai Rong Ocean Fishery Group, American Tuna Company, Dalian Ocean Fishery International Trade Corporation, Tri Marine Group, Zhegiang Ocean Family, and Liancheng Overseas Fishery are among the other tuna fish suppliers.
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