Global Thunnus Market – Industry Trends and Forecast to 2031

Thunnus Market Analysis and Size

The global thunnus market, encompassing various tuna species, is a crucial component of the seafood industry, driven by significant demand from diverse regions worldwide. Tuna's high protein content and health benefits make it a popular choice among health-conscious consumers, contributing to steady market growth. The rise in popularity of sushi and sashimi has notably increased the demand for high-quality tuna. Technological advancements in fishing and aquaculture have improved efficiency and supply chain logistics, Sustainable certifications and eco-labels can enhance brand reputation and attract environmentally conscious consumers. Developing new tuna-based products and leveraging advancements in aquaculture can meet the growing demand and support market expansion.

Global Thunnus market size was valued at USD 137.38 million in 2023 and is projected to reach USD 250.54 million by 2031, with a CAGR of 7.8% during the forecast period of 2024 to 2031. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.

Report Scope and Market Segmentation       

Market Definition

Thunnus is a ray-finned, ocean-dwelling bony fish belonging to the mackerel family, Scombridae. Specifically, Thunnus is one of the five types that comprise the subfamily Thunnini, commonly known as tunas, real tunas, or true tunas. As a member of the mackerel family, tuna plays a vital role in the global fishing industry. It is widely enjoyed worldwide in various forms, including frozen, fresh-cooked, canned, and sushi.

Global Thunnus Market Dynamics

Drivers

• Increasing Demand for Healthy Protein Sources 

Tuna is increasingly recognized as a superior source of high-quality protein and essential nutrients, which has significantly boosted consumer demand for both fresh and canned tuna products. As health-conscious consumers become more aware of the benefits of a balanced diet rich in protein, they are turning to tuna as a nutritious option. Its rich content of omega-3 fatty acids, vitamins, and minerals supports cardiovascular health, brain function, and overall well-being. This shift towards healthier eating habits is particularly pronounced in developed markets where lifestyle diseases such as obesity and heart disease are prevalent. The convenience of canned tuna, along with the versatility of fresh tuna in various culinary applications, is driving the market growth.      

• Growth of the Sushi and Sashimi Market   

The global popularity of sushi and sashimi has been a major driver of the Thunnus market, as these dishes prominently feature high-quality tuna. Sushi and sashimi have transcended their origins in Japan to become beloved culinary experiences worldwide, celebrated for their fresh, delicate flavors and artistic presentation. This expansion has led to an increased demand for premium tuna species such as bluefin, yellowfin, and bigeye, which are prized for their texture and taste. In addition, the proliferation of sushi and sashimi in mainstream dining, including supermarkets and takeout services, has made these delicacies more accessible to a broader audience. As a result, the demand for high-quality tuna continues to rise, stimulating the market.

Opportunities

• Sustainable Fishing Practices        

Investing in and promoting sustainable fishing practices is crucial for the long-term viability and market acceptance of tuna products. Overfishing and environmental degradation have raised significant concerns among consumers, regulatory bodies, and environmental organizations. Sustainable practices, such as adhering to catch limits, using selective fishing gear to reduce bycatch, and protecting critical habitats, can mitigate these issues. Certifications such as the Marine Stewardship Council (MSC) label help assure consumers that the tuna they purchase comes from responsibly managed sources. In addition, sustainable fishing practices help maintain the balance of marine ecosystems, ensuring that tuna populations remain robust and available for future generations, creating opportunities for the market.         

• Advancements in Aquaculture       

Innovations in aquaculture, particularly in tuna farming techniques and feed, are pivotal in increasing production efficiency and reducing reliance on wild-caught tuna, thereby supporting market growth. Traditional tuna fishing methods cannot keep pace with the rising global demand without depleting wild stocks. Advances in aquaculture, such as closed-cycle breeding programs and improved feed formulations, allow for the sustainable farming of tuna. These innovations reduce the environmental impact of tuna production and offer a consistent supply of high-quality fish. Enhanced aquaculture practices also include better disease management and optimized growing conditions, which result in healthier and faster-growing tuna. As technology and knowledge in tuna farming continue to evolve, the aquaculture sector is poised to play a significant role in meeting global demand.

Restraints/Challenges

• Overfishing and Depleting Fish Stocks

Overfishing of certain tuna species has led to declining populations, resulting in stricter regulations and potential supply shortages. Tuna species such as the Atlantic bluefin have been particularly affected by overfishing due to their high market value and demand in gourmet cuisine, especially for sushi and sashimi. The depletion of fish stocks not only threatens the sustainability of the tuna industry but also the livelihoods of communities that depend on fishing, creating challenges in the market.         

• Environmental Concerns         

Environmental concerns such as bycatch, habitat destruction, and the impact of climate change on tuna habitats pose significant challenges to sustainable fishing practices. Bycatch, the unintentional capture of non-target species, can have devastating effects on marine biodiversity, including the decline of vulnerable species such as sea turtles, sharks, and seabirds. Climate change adds another layer of complexity, as rising ocean temperatures and acidification alter the distribution and behavior of tuna, making them harder to locate and catch sustainably.

This market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

Impact and Current Market Scenario of Raw Material Shortage and Shipping Delays

Data Bridge Market Research offers a high-level analysis of the market and delivers information by keeping in account the impact and current market environment of raw material shortage and shipping delays. This translates into assessing strategic possibilities, creating effective action plans, and assisting businesses in making important decisions.

Apart from the standard report, we also offer in-depth analysis of the procurement level from forecasted shipping delays, distributor mapping by region, commodity analysis, production analysis, price mapping trends, sourcing, category performance analysis, supply chain risk management solutions, advanced benchmarking, and other services for procurement and strategic support.

Expected Impact of Economic Slowdown on the Pricing and Availability of Products

When economic activity slows, industries begin to suffer. The forecasted effects of the economic downturn on the pricing and accessibility of the products are taken into account in the market insight reports and intelligence services provided by DBMR. With this, our clients can typically keep one step ahead of their competitors, project their sales and revenue, and estimate their profit and loss expenditures.

Recent Development

• In December 2023, Tonnino, a brand cherished by seafood enthusiasts for its premium yellowfin tuna in cans and jars, is introducing a new range of six exquisitely prepared yellowfin tins with exceptional flavors. This launch at Walmart will simplify meal preparation for any occasion. As the top gourmet tuna brand in the US, Tonnino is renowned for its commitment to sustainable fishing practices, ensuring the preservation of quality and flavor

Global Thunnus Market Scope

The market is segmented on the basis of type, application, end-use, and distribution channel. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Type

• Bluefin
• Yellowfin
• Bigeye
• Albacore
• Skipjack
• Longtail

Application

• Whole Tunas
• Tuna Fillet
• Tuna Steaks
• Canned Tunas
• Sashimi & Sushi
• Others

End-Use

• Household
• Foodservice
• Food Processing

Distribution Channel

• Supermarkets/Hypermarkets
• Retail Stores
• Online Stores
• Fisherman's Wharfs

Global Thunnus Market Regional Analysis/Insights

The market is analyzed and market size insights and trends are provided by country, type, application, end-use, and distribution channel as referenced above.

The countries covered in the market are U.S., Canada, Mexico, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, rest of Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, rest of Asia-Pacific, Saudi Arabia, U.A.E., South Africa, Egypt, Israel, rest of Middle East and Africa, Brazil, Argentina, and rest of South America.

Europe is expected to dominate the market due to tuna being the most consumed marine species in the region. The growing preference for straightforward, flavorful, and nutritious marine products is expected to drive further market growth throughout the forecast period.

Asia-Pacific is expected to be the fastest growing due to the increasing popularity of tuna in various countries. Moreover, the rising consumption of fish is poised to fuel market expansion in the region in the years ahead.

The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.

Competitive Landscape and Global Thunnus Market Share Analysis

The market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to market.

Some of the major players operating in the market are:

• Thai Union Group PCL (Taiwan)
• Seafood Media Group Ltd. (Vietnam)
• Sapmer Premium Sea Products (France)
• Sispro (Indonesia)
• Thai Union Group PCL (Taiwan)
• GRUPO PINSA (Mexico)
• Tecnica Y Comercio De La Pesca C.A. Tecopesca (Venezuela)
• PT. Awindo International (Indonesia)
• HAI VUONG CO., LTD (Thailand)
• Truong Phu Xanh Co. Ltd. (Vietnam)
• Tonnino (Costa Rica)

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