The UK preserved tuna market is forecast to grow modestly, with volume projected to reach 110K tons by 2035 at a CAGR of +0.7%, and value to reach $647M at a CAGR of +1.9%. In 2024, consumption and imports surged by 16% to 102K tons and $525M\/$539M respectively, though long-term trends remain relatively flat. Ecuador is the dominant import supplier (33% share), while the UK’s own exports are minimal and declining. Import prices averaged $5,296\/ton in 2024, with significant variation by country, while export prices were higher at $6,927\/ton.<\/p>\n
Key Findings<\/p>\n
UK preserved tuna market is forecast for modest growth, with volume reaching 110K tons by 2035 at a +0.7% CAGR and value hitting $647M at a +1.9% CAGR2024 saw a significant 16% surge in both consumption (102K tons) and market value ($525M), though long-term trends remain relatively flatEcuador is the leading import source, supplying 33% of volume and 31% of value, with strong average annual growth over the past decadeImport prices have remained stable around $5,296 per ton, with Spain commanding the highest price and the Philippines the lowest among major suppliersUK exports are minimal (343 tons in 2024) and have declined dramatically from peak levels, with France, Belgium, and the Philippines as top destinationsMarket Forecast<\/p>\n
Driven by rising demand for preserved tuna in the UK, the market is expected to start an upward consumption trend over the next decade. The performance of the market is forecast to increase slightly, with an anticipated CAGR of +0.7% for the period from 2024 to 2035, which is projected to bring the market volume to 110K tons by the end of 2035.<\/p>\n
In value terms, the market is forecast to increase with an anticipated CAGR of +1.9% for the period from 2024 to 2035, which is projected to bring the market value to $647M (in nominal wholesale prices) by the end of 2035.<\/p>\n
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ConsumptionUnited Kingdom’s Consumption of Tuna (Prepared or Preserved)<\/p>\n
In 2024, approx. 102K tons of tuna (prepared or preserved) were consumed in the UK; with an increase of 16% on 2023. Overall, consumption, however, showed a relatively flat trend pattern. Over the period under review, consumption hit record highs at 110K tons in 2016; however, from 2017 to 2024, consumption failed to regain momentum.<\/p>\n
The value of the preserved tuna market in the UK skyrocketed to $525M in 2024, growing by 16% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers’ margins, which will be included in the final consumer price). Over the period under review, consumption, however, saw a mild reduction. Preserved tuna consumption peaked at $595M in 2013; however, from 2014 to 2024, consumption stood at a somewhat lower figure.<\/p>\n
ImportsUnited Kingdom’s Imports of Tuna (Prepared or Preserved)<\/p>\n
Preserved tuna imports into the UK surged to 102K tons in 2024, with an increase of 16% on the previous year. In general, imports, however, continue to indicate a relatively flat trend pattern. Over the period under review, imports attained the maximum at 114K tons in 2016; however, from 2017 to 2024, imports remained at a lower figure.<\/p>\n
In value terms, preserved tuna imports surged to $539M in 2024. Overall, imports, however, continue to indicate a mild decrease. Imports peaked at $645M in 2013; however, from 2014 to 2024, imports remained at a lower figure.<\/p>\n
Imports By Country<\/p>\n
In 2024, Ecuador<\/a> (33K tons) constituted the largest supplier of preserved tuna to the UK, accounting for a 33% share of total imports. Moreover, preserved tuna imports from Ecuador exceeded the figures recorded by the second-largest supplier, Mauritius (14K tons), twofold. Ghana<\/a> (10K tons) ranked third in terms of total imports with a 10% share.<\/p>\n From 2013 to 2024, the average annual growth rate of volume from Ecuador amounted to +14.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Mauritius (-4.1% per year) and Ghana (-1.8% per year).<\/p>\n In value terms, Ecuador ($168M) constituted the largest supplier of tuna (prepared or preserved) to the UK, comprising 31% of total imports. The second position in the ranking was held by Mauritius ($75M), with a 14% share of total imports. It was followed by Seychelles, with a 12% share.<\/p>\n From 2013 to 2024, the average annual growth rate of value from Ecuador totaled +13.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Mauritius (-4.8% per year) and Seychelles (-4.9% per year).<\/p>\n Import Prices By Country<\/p>\n In 2024, the average preserved tuna import price amounted to $5,296 per ton, approximately reflecting the previous year. Overall, the import price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when the average import price increased by 17%. The import price peaked at $5,757 per ton in 2013; however, from 2014 to 2024, import prices stood at a somewhat lower figure.<\/p>\n There were significant differences in the average prices amongst the major supplying countries. In 2024, amid the top importers, the country with the highest price was Spain<\/a> ($9,081 per ton), while the price for the Philippines<\/a> ($4,372 per ton) was amongst the lowest.<\/p>\n From 2013 to 2024, the most notable rate of growth in terms of prices was attained by Spain (+2.6%), while the prices for the other major suppliers experienced mixed trend patterns.<\/p>\n ExportsUnited Kingdom’s Exports of Tuna (Prepared or Preserved)<\/p>\n Preserved tuna exports from the UK surged to 343 tons in 2024, with an increase of 18% on 2023 figures. Overall, exports, however, showed a dramatic setback. The most prominent rate of growth was recorded in 2018 when exports increased by 97%. As a result, the exports attained the peak of 6K tons. From 2019 to 2024, the growth of the exports remained at a lower figure.<\/p>\n In value terms, preserved tuna exports surged to $2.4M in 2024. Over the period under review, exports, however, faced a precipitous slump. The most prominent rate of growth was recorded in 2018 when exports increased by 35%. Over the period under review, the exports hit record highs at $29M in 2013; however, from 2014 to 2024, the exports failed to regain momentum.<\/p>\n Exports By Country<\/p>\n The Philippines<\/a> (52 tons), France<\/a> (48 tons) and Ireland<\/a> (29 tons) were the main destinations of preserved tuna exports from the UK, with a combined 38% share of total exports.<\/p>\n From 2013 to 2024, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the Philippines (with a CAGR of +43.1%), while the other leaders experienced more modest paces of growth.<\/p>\n In value terms, France ($283K), Belgium<\/a> ($255K) and the Philippines ($242K) were the largest markets for preserved tuna exported from the UK worldwide, together comprising 33% of total exports.<\/p>\n The Philippines, with a CAGR of +47.8%, saw the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.<\/p>\n Export Prices By Country<\/p>\n The average preserved tuna export price stood at $6,927 per ton in 2024, rising by 9.7% against the previous year. In general, the export price saw a relatively flat trend pattern. The growth pace was the most rapid in 2019 when the average export price increased by 65%. The export price peaked in 2024 and is expected to retain growth in years to come.<\/p>\n There were significant differences in the average prices for the major export markets. In 2024, amid the top suppliers, the country with the highest price was Italy<\/a> ($15,152 per ton), while the average price for exports to Ecuador ($4,411 per ton) was amongst the lowest.<\/p>\n From 2013 to 2024, the most notable rate of growth in terms of prices was recorded for supplies to Gibraltar (+13.5%), while the prices for the other major destinations experienced more modest paces of growth.<\/p>\n