The factors such as the rising popularity of ready-to-eat products, growing awareness about health benefits offered by canned sardines, rising trade of sardines, increased production of sardines, and increased penetration of online shopping are driving the growth of the global canned sardines market.
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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.
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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.
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.
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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.
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.
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