The global canned tuna market size is expected to reach USD 9.22 billion by 2027, exhibiting a CAGR of 2.26% during the forecast period. The rising consumption of packed food items and beverages will spur lucrative opportunities for the market during the forecast period, states Fortune Business Insights in a report, titled “Canned Tuna Market Size, Share & Industry Analysis, By Type (Canned Light Tuna and Canned White Tuna), Distribution Channel (Supermarket/Hypermarket, Convenience Stores, Specialty Stores, and Online Retail), and Regional Forecast, 2020 – 2027” the market size stood at USD 7.74 billion in 2019.
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Market Driver:
Heavy Demand for Ready-to-Eat Food Products to Boost Growth
The rising consumer inclination towards ready-to-cook and ready-to-eat food products owing to the sedentary lifestyle of people in cities will have a tremendous impact on the market in the forthcoming years. The surge in the working women class will subsequently propel the growth of the market in the foreseeable future. The increasing awareness about the benefits of convenience food items such as easy to prepare, nutritious, and instant ready will fuel high demand for the market in the foreseeable future. The focus of manufacturers towards the development of innovative and best quality ready-to-eat packaged food items to serve the needs of the consumers will further enhance the potential of the market. For instance, In February 2019, Chicken of the Sea a leader of packaged seafood based in California announced the launch of a new resealable, single-serve recyclable cup of wild-caught tuna to cater to the high demand for on-the-go food among millennials.
Information source: https://www.fortunebusinessinsights.com/canned-tuna-market-103190
