(Entertainment-NewsWire.com, June 27, 2019 ) According to the latest report by IMARC Group titled, “Global Tuna Market Research Report and Forecast 2018-2024”, the market reached a value of US$ 11.59 Billion in 2018. Looking forward, the market is expected to reach a value of US$ 14.4 Billion by 2024, exhibiting a CAGR of around 3.2% during 2019-2024.
Belonging to the Scombridae family, commonly known as the mackerel group, tuna is a type of fish available in saltwater. Widely considered as one of the major sources of animal protein, it is cherished in frozen, fresh, canned and sushi forms across the globe. It provides numerous health benefits such as blood pressure control, strengthened immune system, and improved heart health, along with aiding significantly in preventing inflammatory diseases such as arthritis and gout.
The rising demand for canned tuna is the key factor driving the market growth. Packaged food items have experienced a significant increase in demand, owing to the busy schedules of the working population. Canned tuna, among all the other packaged foods, has emerged as one of the most popular food choices. Furthermore, the rising popularity of sushi as a global dish is also contributing to the market growth. In addition to this, cultivation of a wide variety of tuna such as skipjack, yellowfin, bigeye and albacore, and their easy availability caters to the diversified taste and preferences. Other factors such as increasing disposable incomes, rising per capita consumption coupled with improved living standards are also fueling the market growth.
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