Valued at an estimated $40 billion, the tuna marketplace is a significant player in the world foods sector.
The U.S. imported about 637.9 million lbs of tuna in 2021, in accordance to the most current information from the National Oceanic and Atmospheric Administration — nearly 71% of that was canned.
The field is dominated by multinational corporations this sort of as Thai Union Team, the proprietor of Rooster of the Sea, and it faces some difficulties.
In between 2000 and 2021, per capita intake of tuna dropped 45%.
Shifting purchaser preferences, market place consolidation, sustainability, transparency problems and a approximately decade-very long rate-fixing scandal all afflicted tuna’s popularity between People in america.
But in 2020, the 1st year of the Covid-19 pandemic, demand improved for the cost-effective and protein-abundant selection and tuna notched its greatest use level because 2011. Thai Union posted a nearly 19% earnings maximize that calendar year in excess of 2019.
On the other hand, Thai Union is now confronting rising fees because of to inflation and the war involving Russia and Ukraine. The corporation has executed value hikes over the earlier two years and is discovering automation strategies to assist offset growing expenses.
What is much more, the organization faces existential threats to the field like sustainability, climate improve and unlawful fishing.
Look at the movie previously mentioned to find out additional about the $40 billion tuna business.
