At 3.2% CAGR, North America Canned Tuna Market is Projected to be Worth US$ 4,532.82 Million by 2031, says Business Market Insights

According to Business Market Insights' research, the North America canned tuna market was valued at US$ 3,513.65 million in 2023 and is projected to reach US$ 4,532.82 million by 2031, registering a CAGR of 3.2% from 2023 to 2031. Health benefits associated with canned tuna and rising demand for tuna with flavors are among the critical factors attributed to drive the North America canned tuna market growth.

Consumers seek variety, convenience, and enhanced taste experiences. Flavored canned tuna offers consumers unique and exciting flavor profiles beyond traditional canned tuna. Flavored canned tuna varieties may include options such as lemon pepper, sweet chili, sriracha, garlic herb, and smoked flavors, providing consumers with a flavorful twist on the classic canned tuna experience.

Several brands have embraced the trend of flavored canned tuna by launching innovative offerings that cater to consumer demand for convenience, as well as diverse taste preferences and culinary trends. Bumble Bee Tuna introduced its Prime Fillet line that includes flavored canned tuna varieties such as lemon and pepper, sun-dried tomato and basil, and jalapeno, providing consumers with gourmet-inspired options for their canned tuna meals. Additionally, Starkist offers Tuna Creations pouches in various flavors such as hickory smoked, sweet and spicy, and ranch, allowing consumers to enjoy flavored tuna on the go. These brands' flavored tuna products exemplify the industry's response to changing consumer preferences and the growing demand for innovative and convenient canned tuna options. Therefore, the rising demand for flavored tuna products is expected to become a significant trend in the canned tuna market in the coming years.

On the contrary, expansion of e-commerce and direct to consumer sales hampers the growth of the North America canned tuna market.

Based on type, the North America canned tuna market is segmented into albacore, yellowfin, skipjack, and others. The albacore segment held 39.5% market share in 2023, amassing US$ 1,388.53 million. It is projected to garner US$ 1,736.84 million by 2031 to register 2.8% CAGR during 2023-2031.

In terms of category, the North America canned tuna market is segmented into tuna in water, tuna in oil, and others. The tuna in oil segment held 47.2% share of North America canned tuna market in 2023, amassing US$ 1,657.17 million. It is anticipated to garner US$ 2,142.11 million by 2031 to expand at 3.3% CAGR during 2023-2031.

Based on distribution channel, the North America canned tuna market is segmented into supermarkets and hypermarkets, convenience stores, online retail, and others. The supermarkets and hypermarkets segment held 53.0% share of North America canned tuna market in 2023, amassing US$ 1,861.95 million. It is anticipated to garner US$ 2,354.14 million by 2031 to expand at 3.0% CAGR during 2023-2031.

Based on country, the North America canned tuna market is categorized into the US, Canada, and Mexico. Our regional analysis states that the US captured 73.4% share of North America canned tuna market in 2023. It was assessed at US$ 2,577.26 million in 2023 and is likely to hit US$ 3,269.07 million by 2031, registering a CAGR of 3.0% during 2023-2031.

Key players operating in the North America canned tuna market are American Tuna Inc, Bumble Bee Foods, LLC., Century Pacific Food Inc, Chicken of the Sea, Genova, Pastene Co., StarKist Co, Sustainable Seas, and Wild Planet Foods, among others.

• In July 2023, Wild Planet Foods announced the introduction of five new seafood items including Skipjack Solid Light Wild Tuna in Pure Olive Oil to Whole Foods Market shelves nationwide.
  
  

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