Sardine is oily fish rich in nutrients widely consumed by humans, and as a bait 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 market is flourishing with a rapid speed owing to the increasing awareness regarding the health advantages of sardine consumption. The leading market players are adopting various means to expand, and explore the untapped market.
Companies covered:
Crown Prince, Thai Union Group (TUF), Bumble Bee Food, Natural Sea, Frinsa del Noroeste, Ongreen Thailand Co., Ligo, Wild Planet, Century Pacific Food, Hagoramo, Goody.
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COVID-19 Scenario Analysis:
Production shut down scenario
Since the manufacturing and processing of canned sardines is held in canning industries, currently the operations have been 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.
Decline in export of seafood
Amid the lockdown situation, the cross country transfer of sea food has been ceased. This led to the 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 decresed the revenue for the market.
Top Impacting Factors: Market Scenario Analysis, Trends, Drivers and Impact Analysis
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 growth of canned sardines market. 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 global canned sardines market.
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The global canned sardines market trends are as follows:
New product launches to flourish the market
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 like 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.
Surge in usage in nutrition segment
Sardines are considered as one of the healthiest sea foods because it is a rich source of Vitamin B-12, omega-3 fatty acid, calcium, and many other nutrients. Omega-3 fatty acids help prevent heart diseases due to their anti-inflammatory properties. Therefore, sardines help improve the heart functions, improve immune system, maintain cholesterol levels, boost brain function, enhance cardiovascular health, lower the blood sugar level, and reduce the risk of Alzheimer.
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These benefits have encouraged the incorporation of canned sardines in the daily consumption because it is readily available and is healthy. This has improved the scope of the product in health and nutrition segments where the sardines are preferred for preventing and curing certain kinds of diseases. These growing health benefits strengthen the market for canned sardines.
Key Benefits of the Report:
This study presents the analytical depiction of the global canned sardines industry along with the current trends and future estimations to determine the imminent investment pockets.
The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global canned sardines market share.
The current market is quantitatively analyzed from 2020 to 2027 to highlight the global canned sardines market growth scenario.
Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
The report provides a detailed global canned sardines market analysis based on competitive intensity and how the competition will take shape in coming years.
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