The global canned tuna market is estimated to grow by $3.56 billion over the next five years, according to new research from Technavio. The segment is expected to grow at a CAGR of nearly 3.8%.
According to the report, the launch of new products is driving market growth, with a trend towards expansion in online retailing.
Since more consumers prefer the convenience of buying products online, leading vendors are collaborating with retailers like Amazon and Alibaba to expand their sales channels.
Environmental concerns have driven the industry to focus on sustainable practices. Trends include value-added products such as flavored and organic canned tuna. The sector is expected to continue growing with technologies like canned tuna in pouches and improved preservation methods.