Philippines Tuna Fish Market- Trend Analysis & Forecast to 2030

Tuna fish production in Philippines reached ** million tonnes in 2023 and is projected to grow at a CAGR of ** from 2020 to 2030. The Philippines is one of the world’s leading producers and exporters of tuna fish, contributing significantly to global supply. Philippines exported 80.65 thousand tonnes of tuna fish valued at USD 319 million in 2023. The industry is driven by strong demand, favorable fishing grounds, and strategic international trade partnerships. However, it faces challenges related to sustainability, regulation, and competition.

Market Overview

The Philippines has a crucial role in the global tuna market, primarily due to its strategic geographic position within the Pacific Ocean, a major tuna fishing area. Tuna fish is a key contributor to the country's economy, particularly in regions like General Santos City, also known as the "Tuna Capital of the Philippines." The market is fueled by both local consumption and a strong export demand, especially from countries like Japan, the USA, and European nations. The Philippines’ tuna industry is composed of various segments, including fresh, frozen, and canned tuna. Industry growth is supported by innovations in fishing techniques, sustainability initiatives, and improvements in processing technologies. Despite regulatory and environmental hurdles, the market outlook remains positive, driven by increased global protein consumption and growing demand for sustainable seafood options.

Philippines Significance in the Global Tuna Fish Supply

The Philippines plays a critical role in the global tuna supply chain as one of the largest producers and exporters of canned tuna. Its location near the Western and Central Pacific fishing grounds gives the country access to abundant tuna resources. Its established infrastructure for processing and exporting, along with strategic trade relationships, further solidifies its place in the global supply chain.

Philippines Tuna Fish Supply & Demand Trend

The Philippines ranks among the world's leading tuna producers and production has remained robust, with an average output of around 375-400 thousand tonnes annually. Out of the 21 tuna species found in its waters, six are commercially harvested: yellowfin, skipjack, eastern little, frigate, bigeye, and bullet.

Demand is driven by both domestic consumption and export markets, where canned and frozen tuna products are popular. The industry has experienced gradual growth, propelled by innovations in aquaculture and sustainability practices. Forecasts suggest increasing demand through 2030, particularly as the global appetite for protein and seafood grows.

Philippines Tuna Fish Market Growth Factors

Several factors drive the growth of the Philippines’ tuna fish market. The country’s rich fishing grounds and strategic location in the Pacific Ocean provide abundant tuna resources, fostering sustainable industry growth. A robust export market, especially in Europe, the USA, and Japan, supports continued demand. The increasing popularity of healthy protein sources, such as fish, further fuels both domestic and global demand for tuna products. Additionally, investments in sustainable fishing practices and advanced processing technologies have enhanced productivity and market appeal. Lastly, government initiatives aimed at improving export regulations and trade agreements bolster the industry’s competitive positioning in the global market.

Philippines Tuna Fish Market Restraints & Challenges

The Philippines tuna fish market faces several challenges that could hinder its growth. Overfishing is a critical issue, leading to potential depletion of tuna stocks, which has triggered stricter regulations on fishing activities. Sustainability concerns also present challenges, as the industry must adapt to meet evolving international environmental standards. Furthermore, the rising operational costs of fishing, processing, and compliance with global food safety standards add pressure on industry profitability. Competition from other key tuna-producing nations also limits the market’s growth potential.

Philippines Tuna Fish Supply/ Value Chain Bottlenecks/ Challenges

The tuna supply chain in the Philippines faces various bottlenecks, including inefficient cold storage infrastructure, which affects the quality of fresh and frozen tuna. Additionally, high fuel prices for fishing vessels increase operational costs. Regulatory hurdles and delays in processing permits for exports pose another challenge, complicating international trade efforts. Moreover, the industry faces pressure to comply with environmental and labor standards, which adds complexity to the value chain. Limited investments in advanced processing technologies and distribution networks further exacerbate inefficiencies in the supply chain, impeding overall market growth.

Tuna Fish Price Setting Power of Philippines

The Philippines has moderate price-setting power in the global tuna market due to its substantial production capacity and strong export relationships. However, this power is limited by competition from other major tuna-exporting countries like Thailand and Indonesia, as well as global market forces such as fluctuating demand and regulatory changes related to sustainability.

Tuna Fish End-use Industries

Tuna fish from the Philippines is primarily used in the food industry, with canned tuna being the most significant end-use product. Fresh and frozen tuna also supply the sashimi market, particularly in Japan and other Asian countries. In addition to human consumption, some by-products of tuna processing are used in animal feed and pet food industries.

Philippines Tuna Fish Trade (Export & Import) Trend

Philippines exported 80.65 thousand tonnes of tuna fish valued at USD 319 million in 2023. The Philippines is a net exporter of tuna, with the bulk of its production shipped to key markets like the European Union, Japan, and the United States. Exports are primarily in the form of canned and frozen tuna, which are in high demand globally. The Philippines benefits from preferential trade agreements with major importers, particularly in Europe, through the Generalized Scheme of Preferences Plus (GSP+). However, the country also imports tuna for processing and re-export, especially from neighboring Pacific countries. Export volumes are expected to grow steadily until 2030, despite some regulatory challenges and competitive pressures from other tuna-producing nations.

Philippines Tuna Fish Market Competitive Analysis

The Philippines tuna market is competitive, with several key players operating across various segments, from fishing to processing and exporting. Both domestic and multinational companies have a significant presence in the market. Competition primarily revolves around securing access to fishing grounds, improving processing technologies, and meeting international food safety and sustainability standards. The market is also influenced by regional competitors, such as Thailand and Indonesia, which compete for the same global buyers.

■ Century Pacific Food, Inc.
■ Alliance Select Foods International, Inc.
■ Philbest Canning Corporation
■ General Tuna Corporation
■ Celebes Canning Corporation
■ Ocean Canning Corporation
■ Santa Cruz Seafoods Inc.
■ RD Tuna Canners Ltd.
■ Frabelle Fishing Corporation
■ Bigfish Foods Corporation
■ Blue Bay Tuna Corporation
■ Universal Canning, Inc.
■ CDO Foodsphere Inc.
■ JAM SEAFOODS
■ Rell And Renn Seafood Sphere Inc.

Future Outlook

The future of the Philippines tuna fish market looks promising, with expected steady growth driven by rising global demand for seafood and healthy protein sources. Sustainable fishing practices and improved regulatory frameworks are likely to enhance the country’s competitive advantage in the global market. However, overcoming supply chain bottlenecks, maintaining fish stock levels, and ensuring compliance with international environmental standards will be critical to sustaining growth. The industry's future hinges on balancing demand with environmental conservation and adapting to evolving trade conditions.