Sardine is a nutrient-dense oily fish that is commonly consumed by humans and used as a food by other fish and mammals. Sardines that have been cooked or smoked at a cannery and then packed in oil, water, or tomato sauce are known as canned sardines. Sardines are a good source of calcium, protein, and omega-3 fatty acids and are said to have less mercury than other fish. Due to growing knowledge of the health benefits of sardine intake, the global market for sardines is growing at a rapid rate. To expand and explore the unexplored market, the major industry players are employing a variety of strategies.
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 (the U.S., Canada, and Mexico), Europe (the UK, Germany, France, Italy, Spain, and the rest of Europe), Asia-Pacific (China, India, Australia, and the rest of Asia-Pacific), and LAMEA (Latin America, Middle East, and Africa).
The impact of the COVID-19 outbreak was quite moderate for the growth of the global canned sardines market. The rise in internet penetration and surge in e-commerce sales contributed toward the growth of the market. However, the trade restrictions and lockdown resulted into halting of production and manufacturing units. The recovery of the canned sardines market is expected in near future.
Sardines in canned form have been successful in gaining a consumer base, particularly those who seek ready-to-eat snack food that is both flavorful and healthful. Sardines in a can are a convenient snack that may be eaten straight from the can. When eaten with hot sauce or mustard, or as a salad topping, these have become increasingly popular in-home kitchens. The product became so popular on the market that canned sardines began to dominate fresh sardines that required cooking before consumption. The availability of canned sardines in a variety of distribution channels, including supermarkets and hypermarkets, convenience stores, and online platforms, has facilitated the product's distribution and supply, resulting in a market boom.
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 (the U.S., Canada, and Mexico), Europe (the UK, Germany, France, Italy, Spain, and the rest of Europe), Asia-Pacific (China, India, Australia, and the rest of Asia-Pacific), and LAMEA (Latin America, Middle East, and Africa).
The impact of the COVID-19 outbreak was quite moderate for the growth of the global canned sardines market. The rise in internet penetration and surge in e-commerce sales contributed toward the growth of the market. However, the trade restrictions and lockdown resulted into halting of production and manufacturing units. The recovery of the canned sardines market is expected in near future.
Sardines in canned form have been successful in gaining a consumer base, particularly those who seek ready-to-eat snack food that is both flavorful and healthful. Sardines in a can are a convenient snack that may be eaten straight from the can. When eaten with hot sauce or mustard, or as a salad topping, these have become increasingly popular in-home kitchens. The product became so popular on the market that canned sardines began to dominate fresh sardines that required cooking before consumption. The availability of canned sardines in a variety of distribution channels, including supermarkets and hypermarkets, convenience stores, and online platforms, has facilitated the product's distribution and supply, resulting in a market boom.
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.
Key Market Segments
By Processing
- Oil
- Sauce
- Others
By Application
- Households
- Commercial
By Distribution Channel
- Supermarkets and Hypermarkets
- Convenience Stores
- Specialty Stores
- Online Sales Channel
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- U.K.
- France
- Netherlands
- Germany
- Turkey
- Rest of Europe
- Asia-Pacific
- China
- India
- Malaysia
- Japan
- Indonesia
- Rest of Asia-Pacific
- LAMEA
- Brazil
- South Africa
- United Arab Emirates
- Rest of LAMEA
Key Market Players
- ligo
- Camil Alimentos
- Century Pacific Food
- chicken of the sea
- Dongwon
- frinsa del noroeste
- Grupo Calvo
- Safe Catch
- Thai Union Group PCL.
- Season Sardines
Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: CANNED SARDINES MARKET, BY PROCESSING
CHAPTER 5: CANNED SARDINES MARKET, BY APPLICATION
CHAPTER 6: CANNED SARDINES MARKET, BY DISTRIBUTION CHANNEL
CHAPTER 7: CANNED SARDINES MARKET, BY REGION
CHAPTER 8: COMPANY LANDSCAPE
CHAPTER 9: COMPANY PROFILES
LIST OF TABLES
LIST OF FIGURES
Executive Summary
According to this report titled, 'Canned Sardines Market,' the canned sardines market size was valued at $7.9 billion in 2020, and is estimated to reach $15.8 billion by 2031, growing at a CAGR of 6.3% from 2022 to 2031.Sardines are considered as one of the healthiest sea foods and the omega-3 fatty acid present in the sardines spurs its consumption owing to the vivid health benefits. Taste, durability and perseverance of nutritional content are driving the canned sardines market growth. The canned version of sardines is easy to sell and contains equivalent nutrition as in case of fresh or frozen sardines. This utility of the product makes it worth consuming for the customers. The growing consumer demands for premium sea food available in different flavors is boosting the potential for market.
According to market analysis, the global market is segmented based on processing, application, distribution channel, and region. On the basis of processing, the market is classified into oil, sauce, and others. Among these, oil occupied the major canned sardines market share of the market in 2020, and is projected to maintain its dominance during the forecast period. Canned sardines processed with sauce is anticipated to grow at highest CAGR in the future.
On the basis of application, the market is segmented into households and commercial. The households segment is anticipated to grow at the highest rate during the forecast period, owing to the growing trend for ready to eat food products. Moreover, nutritious and healthy food preference is growing at a rapid pace among households.
On the basis of distribution channel, it is categorized into supermarkets & hypermarkets, convenience stores, specialty stores, and online sales channel. The online sales channel segment is anticipated to grow at highest CAGR during the forecast period, due to the rise in internet penetration and usage of smartphones and tablets.
In 2020, Asia-Pacific accounted for more than half of the global market, and is expected to maintain its dominance during the canned sardines market forecast. Moreover, North America and Europe are expected to possess the highest CAGRs, owing to rise in health concerns among people and increase in popularity of canned sardines in these regions.
Porter's five forces analysis for the market highlights market competition in terms of the power of buyers, suppliers, manufacturers, and new entrants. Furthermore, shift in living standards of the consumers, as well as an increase in per capita income of the consumers has resulted in the launch of new products and the entry of new players in the market over the forecast period.
The impact of the COVID-19 pandemic on the market was moderate, due to the supply chain disruption. All manufacturing and production units were halted during the outbreak. On the other hand, the surge in online sales resulted into positive impact on the market growth. Thus, the market is expected to recover from the pandemic in the upcoming years.
Sardines are high in Vitamin B-12, omega-3 fatty acids, calcium, and other nutrients, making them one of the healthiest sea foods. Due to their anti-inflammatory effects, omega-3 fatty acids can help prevent heart disease. Sardines, as a result, aid in the improvement of heart function, the immunological system, cholesterol levels, brain function, cardiovascular health, blood sugar control, and the prevention of Alzheimer's disease.
As canned sardines are easily available and are healthy in nature, these advantages have pushed their inclusion in everyday intake. This has broadened the product's appeal in the health and nutrition markets, where sardines are chosen for disease prevention and treatment. Sardines in cans are becoming more popular due to their expanding health benefits.
Lower income levels of the population in developing economies, who are unable to buy the product, and seasonal availability of the product are two reasons that are expected to hamper the expansion of the canned sardines industry. The extensive use of preservatives in canned foods, which can create health problems in people if ingested in large amounts, is expected to impede the market's expansion.
The major players analyzed for global 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. These major market players have adopted various strategies to expand their market reach. The strategies adopted in the market are product launch and acquisition. The new market players are also entering the market with new products.
Companies Mentioned
- ligo
- Camil Alimentos
- Century Pacific Food
- chicken of the sea
- Dongwon
- frinsa del noroeste
- Grupo Calvo
- Safe Catch
- Thai Union Group PCL.
- Season Sardines
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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