US Market Dynamics for Canned Tuna in the Era of Covid

In response to COVID19 and shelter in place requirements, American consumers have been panic buying and hoarding canned tuna along with a few other grocery items, stripping the shelves bare almost as soon as they are restocked. Major canned tuna producers are running at maximum volume amidst record sales. But new research by Changing Tastes found that consumers are not eating a much more canned tuna. Rather, we’ve essentially transferred most of a year’s harvest from warehouses to home pantries and basement storage shelves. 

Our analysis of market dynamics found that swiftly rebuilding the inventory for canned tuna either in manufacturers’ or grocers’ warehouses is likely to pressure mid-term profitability. There is a business risk for canned tuna manufacturers who misinterpret current conditions and wrongly believe demand has permanently increased.

Find out more by reviewing our July 2020 analysis and presentation to UK and US grocers and tuna companies here.

If you would like to learn more about our future research agenda into COVID19 and the marketplace for canned tuna, fish and seafood and the consumer marketplace, click below and drop us a note.