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Increasing Demand for Canned Tuna to Promote Tuna Fish Industry Growth

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Promote Tuna Fish Industry Growth

The report further observes that the market stood at USD 39.27 billion in 2020 and is projected to exhibit a CAGR of 2.65% between 2021 and 2028. This is attributable to the growing demand for canned food products and the increasing focus on sustainable fishing operations across the globe. According to the Food and Agriculture Organization (FAO), around 70% of the global fish population faces the danger of depletion and is exploited largely. Therefore, the adoption of sustainable farming techniques has been gaining prominence. 

On the basis of species, the market is segmented into skipjack, albacore, yellowfin, bigeye, bluefin, and others. On the basis of product type, the market is categorized into canned, fresh, and frozen. Lastly, based on the region, the market is divided into North America, South America, Europe, Asia-Pacific, and the Middle East and Africa.

The global tuna fish market size is expected to experience exponential growth by reaching USD 48.19 billion in 2028. This information is published by Fortune Business Insights in its latest report, titled “Tuna Fish Market, 2021-2028.”

What does the Report Include?

The global market report includes qualitative and quantitative analysis of several factors such as the key drivers and restraints that will impact growth. Additionally, the report provides insights into the regional analysis that covers different regions, contributing to the growth of the market. It includes the competitive landscape that involves the leading companies and the adoption of strategies to announce partnerships, introduce new products, and collaborate to further contribute to the growth of the market between 2021 and 2028. Moreover, the research analyst has adopted several research methodologies to extract information about the current trends and industry developments that will drive the market growth during the forecast period.

List of the Companies Profiled in the Global Market:

  • Thai Union Group Inc. (Samut Sakhon, Thailand)
  • Mitsubishi Corporation (Tokyo, Japan)
  • American Tuna Company (California, United States)
  • Crown Prince Inc. (California, United States)
  • FCF Co., Ltd. (Taiwan)
  • ITOCHU Corporation (Tokyo, Japan)
  • Bolton Group (Milan, Italy)
  • Alliance Select Foods Inc. (Philippines)
  • DongWon Enterprises Co. Ltd. (Seoul, South Korea)
  • Wild Planet Foods Inc. (California, United States)

Increasing Demand for Canned Tuna to Promote Growth

A popular tuna brand, Bumble Bee Foods, reported that their sales rose by about 100% from March to early April in 2020. The high demand for packaged food products and the rising health awareness regarding seafood consumption is propelling the demand for canned tuna globally. As these food products are in demand, several producers have scaled up their production facilities to cater to the surging consumer demand. Moreover, promotional activities and supportive government initiatives regarding the farming sector will favor the global tuna fish market growth during the forecast period.

Further Report Findings:

  • Europe is expected to hold the largest global tuna fish market share in terms of revenue during the forecast period. The region stood at USD 37 billion in 2020. Factors such as the increasing consumption of tuna are anticipated to favor the demand for the product. According to the European Market Observatory for Fisheries and Aquaculture Products (EUMOFA), tuna in 2019 was the most consumed marine species in the region.
  • On the other hand, Asia-Pacific is expected to hold the second position in the market during the forecast period. This is due to the growing popularity of tuna fish in major Asia countries such as Japan, South Korea, and China.
  • Based on species, the skipjack segment held a market share of about 45.61% in 2020 and is expected to showcase considerable growth in the forthcoming years. This is owing to the increasing preference for this type of tuna fish for commercial purposes. According to the Centre for the Promotion of Imports data, 75% of canned tuna imported consists of skipjack in Europe.

Key Players Focus on Joint Ventures to Amplify Their Market Positions

The global market is fragmented by the presence of key players that are striving to maintain their presence by focusing on joint ventures to expand their businesses. Other key players are adopting strategies such as collaboration, partnership, and facility expansion that will bode well for the growth of the market in the forthcoming years.

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Mozilla report found more than a dozen TikTok influencers who had undisclosed paid relationships to post political messages; TikTok banned political ads in 2019 (Mozilla Tiktokzakrzewski Washingtonpost)

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Mozilla Tiktokzakrzewski Washingtonpost

Mozilla Tiktokzakrzewski Washingtonpost: A recent report conducted by Mozilla found that more than a dozen TikTok influencers had undisclosed paid relationships to post political messages on their videos, the company banned political ads in 2019. This decision has been applauded by various activist groups and has been seen as a “victory for free speech”.

Not everyone is happy about this. As of now, it’s not known whether the TikTok app will still be able to use third-party content from content creators with undisclosed paid relationships. It’s also not clear what the ban on political ads means for the app.

The report was released by Mozilla, a major free web browser provider and anti-privacy organization. The report argued that political messages were being spread through the video platform without users knowing that they were paid promotion of propaganda. Specifically, 7 Indian political parties allegedly used TikTok to influence voters ahead of the 2019 Lok Sabha election. TikTok has been widely used in India because it is unable to detect political content and is mostly used by young people in India. TikTok is an app that allows users to post and share videos with one another.

The CEO of Mozilla, Mark Surman, claimed that the platform had been used for “political propaganda” for a long time. He claimed this was not only a problem in India, but globally as well. He also claimed that such incidents are not unique to India and are happening all over the world. The report also stated that many of these political influencers have more than 100,000 followers on the app. Allegedly, these users were able to get their political messages across without anyone knowing that they were paid promotions.

At the same time as the report was released, Mozilla CEO Mark Surman said that TikTok has removed all of these videos from its platform and banned political advertising on its app. He said, “It shows a clear desire from TikTok to address this problem, so we’ve decided to temporarily suspend our work with them. We will resume engagement with TikTok when we know they’ve solved this problem.”

Mozilla has decided to stop working with TikTok for an undisclosed amount of time. Mozilla also announced that it would work with other companies to make sure that political messages would not be able to be spread on their platforms for the next 4 months. The company also announced that it would work with Google, a major search engine, YouTube, a popular video streaming platform, and Facebook in order to address the issue.

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Facebook will announce a suite of audio products on Monday, including a Clubhouse-like app, a podcast discovery product connected to Spotify, and more (Sources Monday Clubhouselike Spotifykafkavox)

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Sources Monday Clubhouselike Spotifykafkavox

Sources Monday Clubhouselike Spotifykafkavox: Facebook will announce a suite of audio products on Monday, including a Clubhouse-like app, a podcast discovery product connected to Spotify, and more.

The announcements are part of Facebook’s efforts to stay competitive in an increasingly crowded social media space dominated by other companies who have fleshed out their audio offerings.

It might seem like Facebook is moving too fast in the media realm, but those who know around here know that it’s just following the rest of tech. A few years ago, the company’s advertising executives were inventing and experimenting with a range of new ad formats. From that came the creation of Timeline, its news feed, and the addition of paid ads to the social network.

On Monday at its F8 developer conference, Facebook will announce a trio of audio products — an updated version of Clubhouse which will be known as “Timeline Chats”, a podcast app called “Podcasts”, and “high quality audio” as part of Instagram.

Clubhouse first launched in 2016 as a private community where Facebook employees post 10-minute audios. It’s sort of like a Facebook-focused version of The Moth, the live storytelling event and podcast. The feature will be open to the public starting Monday (for those willing to signup for one of this thing).

Facebook is also launching a new podcast app called “Podcasts” that will be available on iOS and Android and connected to Spotify — a first for Facebook. The feature could be a competitor to the likes of Apple’s Podcasts app. Facebook is also integrating podcast listening with its main app. So people will be able to listen via their news feed, of course.

The third product is high-quality audio, which is said to be “a new format optimized for sound quality and created with the latest in audio technology”. I’m just going to say that it’s probably a way for Facebook to easily differentiate its audio products from rivals.

Facebook already has a lot of tools for recording and editing audio, especially video. With standalone products, the company can increase user engagement and promote vertical video content over horizontal videos.

Facebook has been investing in several other audio products as well.

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Wejo, which collects and analyzes real-time vehicle data, is going public via a SPAC merger to raise $330M, which will value Wejo at $800M including debt (Wejo Spac 330m 800m)

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Wejo Spac 330m 800m

Wejo Spac 330m 800m: Wejo is a predictive analytics company that specializes in collecting, analyzing, and interpreting real-time vehicle data. They operate out of the globe’s largest traffic network and have built the world’s largest connected vehicle telematics database.

The company has been privately held since 2006. Wejo plans to enter public markets via an SPAC merger with Criora Health, which will be renamed Wejo Inc with a publicly traded ticker symbol of WJHO. The merger is expected to close in Q3.

The SPAC is a new form of hybrid private/public company that has been gaining popularity in certain industries including healthcare, IT, and cloud-based security services.

Wejo’s real-time software enables consumers to monitor driving patterns and behavior via an on-board telematics device, or log into their account online to review the data. The company has been providing these solutions for more than a decade to consumers, dealers, and auto manufacturers in the U.S. and Europe.

The data that Wejo gathers from its network of connected vehicles is available to a wide range of businesses, including auto insurers, dealerships, finance companies, and auto OEMs. The company also collects data from non-automotive sectors such as delivery fleets and shuttle buses among others.

Wejo has operational headquarters in the U.S., and is listed on the OTC Markets under the ticker symbol WJHO. The company also maintains a research, development, and engineering center in Palo Alto, California. Wejo’s operating headquarters are located on the campus of Lehigh University in Bethlehem, Pennsylvania.

Wejo operates its largest connected vehicle telematics database, which consists of more than eight billion connected miles of driving data gathered from over three million vehicles. The company currently analyzes data from over seven hundred thousand vehicles in the U.S., fifteen thousand fleets outside the U.S., and twelve thousand transit buses around the world.

The company currently operates five technology platforms. Wejo’s Real-Time platform is a web and mobile portal that allows users to analyze, visualize, and share driving patterns and behaviors. The company’s fleet management platform includes features such as fleet routing optimization and real-time fleet analytics. The Mobilize platform offers a unified user interface for device management systems and connected vehicles.

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