Sizing and Forecast
The canned sardine market size has grown strongly in recent years. It will grow from $8.98 billion in 2023 to $9.81 billion in 2024 at a compound annual growth rate (CAGR) of 9.3%. The growth in the historic period can be attributed to convenience and ready-to-eat foods, sustainability and environmental concerns, increasing transparency and security, increasing the demand and adoption rate, and affordable and shelf stability.
The canned sardine market size is expected to see strong growth in the next few years. It will grow to $14.15 billion in 2028 at a compound annual growth rate (CAGR) of 9.6%. The growth in the forecast period can be attributed to increasing the adoption rate of canned sardines, increasing use of the internet and smartphones, growing demand for ethical, environmentally conscious products, increase in awareness about health and wellness benefits caused by canned sardine, and increasing culinary influence. Major trends in the forecast period include innovative packaging formats and flavor varieties, rising preference for sustainably sourced seafood, quality control and traceability, product innovation, and Adoption of technologies and practices that ensure sustainable fishing methods.
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The canned sardines market covered in this report is segmented –
1) By Product Type: Smoked, Cooked
2) By Flavor: Olive Oil, Sunflower Oil, Tomato Sauce, Salt And Water, Extra Virgin Oil, Other Flavors
3) By Claims: Organic, Kosher, Non-Genetically Modified Organisms (GMO), No Preservatives, Other Claims
4) By Distribution Channel: Food Services, Hypermarket And Supermarket, Convenience Stores, Specialty Stores, Other Distribution Channels
5) By Application: Households, Commercial
Asia-Pacific was the largest region in the canned sardines market in 2023. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the canned sardines market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
The rise in the demand for processed food is expected to propel the growth of the canned sardines market going forward. Processed food refers to any food item that has undergone deliberate changes to its natural state through various methods such as cooking, curing, smoking, fermenting, or adding ingredients for preservation or flavor enhancement. The increasing demand for processed food is due to several factors, such as changing consumer lifestyles and preferences, evolving eating habits and food trends, demographics, and socioeconomic. Processed foods, including canned sardines, offer convenience and accessibility, especially for busy-conscious consumers. Canned sardines are ready-to-eat and require minimal preparation, making them convenient for quick meals or snacks. For instance, in 2023, according to the United States Department of Agriculture, a US-based federal agency, the total value of US processed food products exported from the country increased to $36.59 billion in 2023, an increase of 1.7% compared to previous years. Therefore, the increase in the popularity of drives the canned sardines market
Key Industry Players
Major companies operating in the canned sardines market are Brunswick Corporation, Thai Union Group (TUF), Bolton Group, Camil Alimentos, Century Pacific Food Inc., Frinsa del Noroeste S.A., Chicken of the sea, Hagoromo Foods Corporation, Tropical Food Manufacturing (Ningbo) Co. Ltd., Bumble Bee Food, FFM Berhad, Adabi Consumer Industries Sdn. Bhd, Nuri, Shines Sea Food, Wild Planet Foods, MW Polar, Crown Prince Inc., Matiz Espana, Ongreen Thailand Co, King Oscar AS, Safe Catch, Protigam Food Industries Sdn. Bhd.
The canned sardines market report table of contents includes:
1. Executive Summary
2. Canned Sardines Market Characteristics
3. Canned Sardines Market Trends And Strategies
4. Canned Sardines Market – Macro Economic Scenario
5. Global Canned Sardines Market Size and Growth
…..
32. Global Canned Sardines Market Competitive Benchmarking
33. Global Canned Sardines Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Canned Sardines Market
35. Canned Sardines Market Future Outlook and Potential Analysis
36. Appendix
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