Report Overview

A spurring demand for convenient sea food products driven by the rising level of disposable income and busy lifestyle and the government’s support to promote the development of the seafood industry are expected to boost the growth of China Tuna Market during the forecast period between 2024 and 2030.

China Tuna Market - Industry Trends & Forecast Report, 2030

China Tuna Market size was estimated to be worth USD 1.76 billion in 2023. During the forecast period between 2024 and 2030, China Tuna Market size is projected to grow at a CAGR of 3.06%, reaching a value of USD 2.16 billion by 2030. Major growth factors for China Tuna Market include the easy availability of fish in the market and the adoption of sustainable practices in the tuna industry. The integration of tuna into traditional Chinese cuisine and the premiumization of tuna products are anticipated to drive China tuna market during the forecast period.

Tuna – Overview

Tuna is a vital component of the marine environment and is regarded as one of the most significant and economically valuable fish. With only 2 grams of fat per 2.5-ounce serving of solid white albacore tuna, tuna is a low-fat protein option. Moreover, most of the fat in tuna is composed of beneficial unsaturated fats, such as omega-3 fatty acids. Canned tuna has a strong demand among Chinese consumers because of its high in protein and low in fat and calories. Tune is a significant source of vital omega-3 fatty acids that help in decreasing cholesterol and blood pressure.

China Tuna Market

Growth Drivers

Growing Demand for Animal Protein

The fast evolving lifestyle and rising urbanization are causing significant changes in the food preferences and nutritional habits of consumers. These days, consumers are more likely to choose nutritious food selections. People can obtain animal proteins and micronutrients through the consumption of tuna. As a result, fresh and canned tuna are becoming more and more popular in China as lighter and healthier protein options. Furthermore, tuna is a popular option among customers in China due to the country's increasing need for high-quality protein foods that are low in fat and calories. As a result, the growing health consciousness among consumers are expected to drive China Tuna Market over the forecast period.

Challenges

Rising Demand for Plant-based Meat

The growing consumer inclination towards vegetarian diet and vegan lifestyle has resulted in increased demand for plant-based meat and subsequent decline in the consumption of meat and seafood, including tuna fish. The rise in adoption of veganism in China is prompting industry players to launch artificial meat in the market to exploit the untapped market. The growing ethical concerns and consciousness towards animal rights and sustainability is fueling the demand for plant-based alternatives, which is anticipated to negatively impact China tuna market during the forecast period.

Impact of Escalating Geopolitical Tensions on China Tuna Market

Further intensifying and spreading of geopolitical tensions among countries across the major regions could adversely affect China Tuna Market in several ways. China is one of the leading importers of tuna fish. However, geopolitical tensions lead to supply chain disruption due to trade restrictions imposed by several countries. As a result, there will be a significant demand and supply gap for tuna fish in the Chinese market. Furthermore, increased shipping costs and insurance will eventually cause surge in tuna prices, which is anticipated to negatively impact its demand. Tensions over fishing rights in contested waters can affect tuna stocks and sustainability practices. If disputes arise over fishing zones, this can lead to illegal fishing or overfishing, impacting supply in the long run.

China Tuna Market

Segmental Coverage

China Tuna Market – By Product Type

Based on product type, China Tuna Market is segmented into canned tuna, frozen tuna, fresh tuna, and sushi-grade tuna. The canned tuna segment holds the largest share of China Tuna Market by product type. The convenience and health benefits canned tuna offers contribute to its high demand in the Chinese market. Canned tuna also has higher nutritional content, is rich in protein and omega-3 fatty acids, and has lower fat and calorie content. It also has lower mercury levels compared to fresh tuna, which drives its market growth. However, the fresh tuna segment is also projected to grow at a high rate owing to the nutritional content and its increasing availability on e-commerce platforms such as Alibaba.com.

China Tuna Market – By Species

By species, China Tuna Market is segmented into yellowfin tuna, skipjack tuna, bigeye tuna, bluefin tuna, and albacore tuna. The bluefin tuna accounts for the highest market share owing to its excellent texture and rich taste. It is often consumed in sushi and sashimi and is strongly enjoyed by the wealthy in coastal and major inland cities of China because of seafood cuisine traditions. The increasing disposable income of Chinese consumers has fueled the demand for expensive and exotic seafood, propelling the overall demand for bluefin tuna.

China Tuna Market – By Distribution Channel

On the basis of distribution channel, China Tuna Market is segmented into supermarkets & hypermarkets, convenience stores, online retailers, specialty seafood stores, and food service (restaurants, hotels, and catering). The supermarkets and hypermarkets segment holds the largest share of China tuna market. They offer a wide range of tuna in different forms, including fresh and canned tuna, and other convenient and ready-to-eat products. However, the food service segment is growing at a significant CAGR owing to the flourishing hospitality and tourism sectors in the country.

China Tuna Market – By End User

Based on end users, China Tuna Market is segmented into household consumption, food service industry, and others. The food service industry dominates China Tuna Market. The increasing use of tuna in convenience foods and sushi propels its demand in the Chinese market. The food companies are increasingly launching tuna-based food products owing to the rising market demand. Pulmuone, a South Korean food company, for instance, announced its plans to launch the tuna kimbap in association with Sam’s Club, a warehouse retailer in China. Meanwhile, household consumption also covers a substantial market share owing to the easy availability of tuna fish in traditional markets.

Competitive Landscape

China Tuna market is intensely competitive, as a number of companies are competing to gain a significant market share. Key players in the market include Hebei Oceane, Fujian Yunshang Food Co., Ltd, Jutai Foods Group, Ningbo Today Food Co., Ltd, Shine Seafoods, Zhangzhou Great Land Foods Co., Ltd, Tropical Food Manufacturing (Ningbo) Co., Ltd, and Qinhuangdao Ocean Food Co., Ltd. To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.

Recent Developments

• In November 2023 – Malta’s Foreign and European Affairs and Trade Ministry announced a bluefin tuna agreement with China to enter the Chinese market.

Scope of the Report

By Product Type

• Canned Tuna

• Frozen Tuna

• Fresh Tuna

• Sushi-Grade Tuna

By Species

• Yellowfin Tuna

• Skipjack Tuna

• Bigeye Tuna

• Bluefin Tuna

• Albacore Tuna

By Distribution Channel

• Supermarkets & Hypermarkets

• Convenience Stores

• Online Retailers

• Specialty Seafood Stores

• Foodservice (Restaurants, Hotels, Catering)

By End User

• Household Consumption

• Foodservice Industry

• Others