The Asia Pacific Tuna Fish Market would witness market growth of 3.7% CAGR during the forecast period (2023-2030). In the year 2021, the Asia Pacific market's volume surged to 1630.3 Killo Tonnes, showcasing a growth of 4% (2019-2022).
A vital component of the marine environment, tuna is regarded as one of the most significant and economically valuable fish. Seven types of tuna are regarded as important, including the Skipjack, Bigeye, Atlantic, Southern Bluefin, Yellowfin, and Pacific. The commercial tuna fishery is a major component of the blue economy. New consumer consumption patterns have been noticed in the seafood industry in recent years. The demand for convenient, high-protein foods like tuna has increased dramatically as people all over the world choose these kinds of foods.
Over the years, the market has shifted from primarily relying on wild-caught tuna to incorporating more sustainable and responsible fishing methods. This transformation has been in response to growing awareness of the need to preserve tuna populations and protect the delicate marine ecosystems in which they thrive.
According to the World Bank, around 90% of aquaculture products are produced in continental Asia, which has shown impressive growth and continues to be the industry leader. The relatively high percentage of non-fed species, or low trophic fish raised without feeds in China, is responsible for this increase, which by 2018 accounted for 56.7% of all aquatic animal production worldwide and 59.5% of all algae production. According to the Indian Department of Fisheries, the total fish production in India accounted for 14.16 MMT in 2019-20. The total value of exports in the same period was 46,662.85 crores. In the upcoming years, these factors are anticipated to impede market growth.
The China market dominated the Asia Pacific Tuna Fish Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $4,050.8 Million by 2030. The Japan market is registering a CAGR of 3% during (2023 - 2030). Additionally, The India market would experience a CAGR of 4.4% during (2023 - 2030).
Based on Type, the market is segmented into Canned, Fresh, and Frozen. Based on Species, the market is segmented into Skipjack, Albacore, Yellowfin, Bigeye, Bluefin, and Others. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: The Global Tuna Fish Market is Predict to reach USD 51.1 Billion by 2030, at a CAGR of 3.3%
The market research report covers the analysis of key stakeholders of the market. Key companies profiled in the report include Bolton Group, Century Pacific Foods Inc., The Jealsa Rianxeira S.AU. Group, ITOCHU Corporation, Thai Union Group PLC, Dongwon Enterprises Co. Ltd., IBL Ltd., F.C.F. Fishery Co., Ltd., SEA DELIGHT, LLC, and High Liner Foods.
By Type (Volume, Killo Tonnes, USD Million, 2019-2030)
By Species (Volume, Killo Tonnes, USD Million, 2019-2030)
By Country (Volume, Killo Tonnes, USD Million, 2019-2030)
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