Canned Sardines Market Research, 2031
The global canned sardines market size was valued at $7.9 billion in 2020, and is projected to reach $15.8 billion by 2031, growing at a CAGR of 6.3% from 2022 to 2031.
Sardine is oily fish rich in nutrients widely consumed by humans, and as an inducement by other fish and mammals. Canned sardines are the preserved version of sardines that are cooked or smoked at the cannery and then packed in oil, water, or tomato sauce. Sardines are said to have a lesser mercury content than other fishes and is a healthy source of calcium, protein and omega-3 fatty acids. The global market for sardine is flourishing with a rapid speed owing to increasing awareness regarding health advantages of sardine consumption. The leading market players are adopting various means to expand, and explore the untapped market.
Since the manufacturing and processing of canned sardines is held in canning industries, the operations were ceased owing to the implications of COVID-19. This has resulted in decline of the stock produce, causing a disruption in the distribution channels, leading to declined revenue. Amid the lockdown situation, the cross-country transfer of sea food has ceased. This led to over piling of stock in the home manufacturing countries leading to spoilage of the sea food. The demand and supply for canned sardines could not be equated and this has decreased revenue for the market.
According to global canned sardines market analysis, the global market is segmented on the basis of processing, application, distribution channel, and region. On the basis of processing, the market is classified into oil, sauce, and others. On the basis of application, the market is segmented into households and commercial. On the basis of distribution channel, it is categorized into supermarkets & hypermarkets, convenience stores, specialty stores, and online sales channel. On the basis of region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The oil segment is the most lucrative in the global market, owing to changes in taste and consumer preferences. In addition, the presence of various popular brands such as Seahaths, Ligo, Grupo Calvo, and Season Sardines boosts the expansion of premium quality canned sardines. The market is more concentrated in Asia-Pacific and grows rapidly in Europe. Developing regions of North America and LAMEA are anticipated to provide great opportunities to the market during the forecast period.
The canned sardines are mostly preferred by households. This is attributed to the growing population of working women. In addition, canned sardines can be prepared easily, which also saves time of households. Moreover, the different ingredients used while processing of sardines is creating demand for canned sardines among households.
Consumers purchase canned sardines by various distribution channels including supermarkets & hypermarkets, convenience stores, specialty stores, and online sales channel. The online distribution channel grows at the highest rate, owing to benefits provided such as discounts and free home delivery.
Region wise, Asia-Pacific dominated the market with largest canned sardines market share during the canned sardines market forecast. Canned sardines and its different varieties are the most consumed in Asia-Pacific, especially in Japan, India, and China. The preference of canned sardines with different ingredients changes with different geographical locations. Thus, the growing preference for nutritious and healthy food products as well as ready to eat products are driving the canned sardines market growth in in Asia-Pacific region.
The introduction of sardines in the canned form has been successful in attracting the consumer base, especially who prefer ready to eat snack food that is tasty as well as nutritious. The canned sardines are a portable snack that can be eaten straight from the can. These have gained popularity in the home kitchens as well when served with hot sauce or mustard, or as salad topping.
The product became so popular in the market that canned sardines became more common than the fresh sardines that needed to be cooked before eating. The availability of canned sardines in various distribution channels such as supermarkets and hypermarkets, convenience stores and the online platforms have eased the distribution and supply of the product, eventually flourishing the global market.
The major players analyzed for the canned sardines industry are Camil Alimentos, Century Pacific Food, Chicken of the Sea, Dongwon, Frinsa del Noroeste, Grupo Calvo, Ligo, Safe Catch, Thai Union Group (TUF), and Season Sardines.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the market analysis from 2020 to 2031 to identify the prevailing canned sardines market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global canned sardines market trends, key players, market segments, application areas, and market growth strategies.
Canned Sardines Market Report Highlights
| Aspects | Details |
 By Processing |
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 By Application |
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 By Distribution Channel |
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 By Region |
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 Key Market Players | Season Sardines, chicken of the sea, frinsa del noroeste, Century Pacific Food, Grupo Calvo, Thai Union Group PCL., Safe Catch, ligo, Dongwon, Camil Alimentos |
Analyst Review
According to the insights of CXOs of leading companies, due to the need for canned seafood, there is a rise in rapid urbanization and a shift in lifestyle. The rise of the global canned sardines market has been aided by an increase in ready to eat food. The rise in disposable income as well as the increased use of the internet and smartphones, are driving the market's expansion. China is the major market for different types of canned sardines, occupying around one-third of the global market, whereas Asia-Pacific registered the highest growth rate in the global canned sardines market in 2020.
Manufacturers are focused on the online sales channel by selling their products on the online store and increasing their promotion on the internet as the e-commerce sector grows. The demand for canned food is expected to rise as more people become aware of the health benefits of sardines. Sardine cans are also made recyclable, and the producers provide certified products. Companies are concentrating on increasing transparency and security. Due to the increased demand, producers are working on supplying the highest quality sardines possible as well as novel canning technologies that retain proteins and allow them to be stored for an extended period.
The global canned sardines market was valued at $7,897.2 million in 2020, and is projected to reach $15,846.5 million by 2031, registering a CAGR of 6.3% from 2022 to 2031.
The forecast period in the canned sardines market report is 2022 to 2031.
The base year calculated in the canned sardines market report is 2020.
The market value of the canned sardines market in 2020 was $7,897.2 million.
The top companies analyzed for global canned sardines market report are Camil Alimentos, Century Pacific Food, Chicken of the Sea, Dongwon, Frinsa del Noroeste, Grupo Calvo, Ligo, Safe Catch, Thai Union Group (TUF), and Season Sardines.
The oil segment is the most influential segment in the canned sardines market report.
Asia-Pacific holds the maximum market share of the canned sardines market.
The company profile has been selected on the basis of key developments such as partnership, product launch, merger and acquisition.
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