GCC Tuna Market Overview:
The GCC tuna market was worth US$ XX Billion in 2022, expanding at a CAGR of X% during 2017-2022. The market is projected to register a CAGR of X% during 2023-2028, reaching US$ XX Billion by 2028. Tuna is a saltwater fish that belongs to the tribe Thunnini, a subgrouping of the Scombridae family. It is one of the very few species of fish that are able to maintain a body temperature higher than that of the surrounding water. It is an active and agile predator with a sleek, streamlined body and is considered the fastest-swimming pelagic fish. It is universally enjoyed as frozen, fresh-cooked, canned, and sushi. Approximately 60% of the tuna comes from the West and Central Pacific Oceans (WPCO). In recent years, tuna has gained traction as it is extensively bought by end customers, canning industries, and restaurants.
One of the primary factors driving the market is the increasing demand for ready-to-eat (RTE) food on account of the busy schedules of the masses. Additionally, the import duty fees on canned tuna are less in various nations, such as Middle East, which is creating a positive market outlook. Other than this, canned tuna is highly popular as it has an increased shelf life. Besides this, the significant shift of the masses to easy-to-cook, long-lasting, and internationally loved food items is propelling the market growth. In line with this, with the increasing health consciousness, the demand for fresh and frozen tuna is constantly rising in the GCC region. Apart from these factors, tuna offers numerous health benefits, such as a high potassium level that helps reduce blood pressure, and the risk of stroke and heart attack. Other than this, it possesses manganese, vitamin C, zinc, and selenium, which helps strengthen the immune system. Furthermore, the presence of various kinds of tuna that cater to the tastes and preferences of a large number of consumers is catalyzing the market growth. Moreover, numerous technological advancements and several academic research centers are minimizing the disease threats, thus creating a positive market outlook for the key players operating in the industry.
Beginning with a regional overview, the report explores the dynamics that have a strong influence on the GCC tuna market and can also impact its future growth. Taking 2022 as the base year, the report covers historical market scenario from 2017-2022 and provides forecasts till 2028. This includes the study of value and volume trends and pricing history. Growth inducing factors, market restraints and recent developments have also been analysed in the report in order to provide a deeper knowledge about the industry. On a regional basis, the report examines the GCC tuna market in Saudi Arabia, United Arab Emirates, Qatar, Kuwait, Oman and Bahrain. For each of these regions, the report studies the GCC tuna market in detail for latest trends, outlook and opportunities.
The report analyses the competitive structure of the GCC tuna market industry and provides the profiles of major players operating in the market. The price margins for the products along with the various success and risk factors for manufacturers have also been covered in the report. Moreover, in order to determine market attractiveness, the report analyses the GCC tuna market industry along the parameters of the Porter’s Five Forces model. This model examines the degree of competition in the GCC tuna market industry by analysing the threat posed by new entrants and substitutes, and the bargaining power of suppliers and buyers. SWOT analysis of the market has also been presented in the report which highlights the strengths, weaknesses, opportunities and threats pertaining to the GCC tuna market industry. Furthermore, the value chain analysis of the GCC tuna market industry has also been covered in the report. This comprises of all the activities in the value chain, such as the procurement of various raw materials, manufacturing, sales and distribution.
GCC Tuna Market Segment Insights:
The GCC tuna market has been analysed as followed:
Segmentation by Species:
Segmentation by Type:
Segmentation by Country:
Country-wise, the market has been segmented into Saudi Arabia, United Arab Emirates, Qatar, Kuwait, Oman and Bahrain. Amongst these, Saudi Arabia represents the largest market, accounting for majority of the GCC region.
The competitive landscape of the industry has also been examined along with the profiles of the key players.
Highlights of the GCC Tuna Market Report:
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