DataM Intelligence’s report on the tuna fish market provides valuable insights into the latest trends and developments in the industry. It offers a comprehensive overview of the market’s competitive landscape, key players, and market dynamics, allowing you to make informed decisions. Additionally, the report offers an in-depth analysis of the market drivers, such as increasing sustainable tuna production.
Furthermore, the report offers precise forecasts for the market’s development over the forecast period, highlighting the key trends, growth opportunities, and market potential. This helps readers to gain a clear understanding of the market’s landscape and develop more effective strategies.
A Snapshot on Tuna Fish Market
Tuna is one of the most popular and, hence, economically lucrative fish in the world. Tuna is caught in over 70 nations and sold fresh, frozen, or tinned. The demand for fish products is likely to rise more in the future years due to a variety of causes.
The increased popularity of seafood, the growing desire to include healthy food items into one's daily diet, and the widespread availability of canned and frozen tuna in the retail sector are predicted to propel the global tuna fish business in the future years.
Market Dynamics and Trends
Increasing Sustainable Tuna Production is Expected to Drive the Market Growth
Japan is one of the world's biggest consumers, and it also sells its goods to other countries. As a result, the government's increased emphasis on technological support and sustainable production techniques for endangered species in Japan and other nations may help supply tuna demand. Improving production techniques, however, will be a big problem with millions of small fishermen being involved.
However, various measures spearheaded by the Japanese government may assist in boosting tuna output more effectively.
Market Restraints
Contamination of tuna with mercury prevalent in the ocean, on the other hand, is the primary source of concern for human health, and it has the potential to stifle tuna fish market development in the near future.
Competitive Landscape
The market is extremely fragmented due to the existence of a significant number of established and regional enterprises. Companies such as Thai Union Group and American Tuna Company are launching new products and collaborating with key stakeholders to improve product marketing and portfolio diversification.
For example, in July 2020, Chicken of the Sea (a Thai Union Group brand) released wild-caught, preservative-free canned fish types such as Albacore Tuna, Ahi Yellowfin Tuna, and Alaskan Salmon. Similarly, Thai Union Group Inc. developed a new tuna product, SELECT Tuna Fitt, in Thailand in November 2019 to appeal to health-conscious customers.
Market Key Players
- Crown Prince Inc.
- Mitsubishi Corporation
- American Tuna Company
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