Russia Canned Tuna Market Size Grows to Cross USD 105 Million by 2030

Published | 04 October 2024

Russia Canned Tuna Market is flourishing because of the increasing awareness about the health benefits of tuna and high convenience and affordability of canned tuna products.

BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated Russia Canned Tuna Market size at USD 89.13 million in 2023. During the forecast period between 2024 and 2030, BlueWeave expects Russia Canned Tuna Market size to expand at a CAGR of 2.50% reaching a value of USD 105.16 million by 2030. Growing health awareness, the need for reasonably priced protein sources, and the country's increasing tuna imports are the main drivers of Russia Canned Tuna Market. During the period in analysis, Russia canned tuna market is expected to be driven by expanding online sales platforms and an improved supply chain.

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Opportunity - Growing Demand for Ready-to-Eat Meals

The growing working population is propelling the ready-to-eat food products owing to the convenience they offer. Convenience food items, like tuna in a can, are very popular among millennials and Generation Z due to their low preparation time, high nutritional value, and ease of consumption. In order to supply customers with high-quality products, many producers are concentrating on the introduction of new products and certifications. As a result, major players in Russia Canned Tuna Market are expected to record significant growth over the forecast period.

Impact of Escalating Geopolitical Tensions on Russia Canned Tuna Market

Escalating geopolitical tensions could negatively impact the growth of Russia Canned Tuna Market. Following Russia's invasion of Ukraine, sanctions were imposed, mostly by Western countries. As a result, the country's import of canned tuna was restricted, and there was a shortage of goods on the market. Since 2014, Russia has also had a long-standing restriction on the import of seafood from numerous Western countries, including the United States, the United Kingdom, Canada, Australia, and Ukraine, with better relations. Russian canned tuna products may find it more difficult to access global markets as tensions rise, forcing producers to concentrate on domestic consumption or find new customers—possibly in Asia or the Middle East.

Online Distribution Channel to Grow at Fastest CAGR

Online distribution channel is projected to register a high growth rate in Russia Canned Tune Market during the forecast period. The increasing smartphone ownership and internet access along with launch of online grocery platforms in the country is contributing to the market growth. As a result of growing popularity of online platforms among consumers, various canned tuna manufacturers are launching their products on e-commerce platforms to boost their product visibility and accessibility, which is expected to drive Russia Canned Tune Market in the coming years.

Competitive Landscape

Russia Canned Tuna Market is intensely competitive, as a number of companies are competing to gain a significant market share. Key players in the market include The Glove Product Company, Dalpro Ryba Ltd, Baltic Prestige LLC, Centre Souvenir, TD Commonwealth of the Sea, TC Island, FOP MSK, and CJSC the Gagarin.

To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.

Don’t miss the business opportunity in Russia Canned Tuna Market. Consult our analysts to gain crucial insights and facilitate your business growth.

The in-depth analysis of the report provides information about growth potential, upcoming trends, and Russia Canned Tuna Market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in Russia Canned Tuna Market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyzes the growth drivers, challenges, and competitive dynamics of the market.

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