Allied Market Research published a report, titled, “Canned Sardines Market by Processing (Oil, Sauce, Others), by Application (Households, Commercial), by Distribution Channel (Supermarkets and Hypermarkets, Convenience Stores, Specialty Stores, Online Sales Channel): Global Opportunity Analysis and Industry Forecast, 2020-2031″. According to the report, the global canned sardines industry generated $7.9 billion in 2020, and is anticipated to generate $15.8 billion by 2031, witnessing a CAGR of 6.3% from 2022 to 2031.
๐ฅ๐ฒ๐พ๐๐ฒ๐๐ ๐ง๐ต๐ฒ ๐ฆ๐ฎ๐บ๐ฝ๐น๐ฒ ๐ฃ๐๐ ๐ข๐ณ ๐ง๐ต๐ถ๐ ๐ฅ๐ฒ๐ฝ๐ผ๐ฟ๐: https://www.alliedmarketresearch.com/request-sample/7776
Sardines, as one of the healthiest sea foods, are easy to sell in the canned version. Taste, durability, and perseverance of nutritional content are driving the canned sardines market growth. Moreover, the growing consumer demands for premium sea food available in different flavors present new opportunities in the coming years.
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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.
๐๐ฎ๐ฒ ๐๐ก๐ข๐ฌ ๐๐๐ฉ๐จ๐ซ๐ญ (๐๐๐ ๐๐๐ ๐๐ฌ ๐๐๐ ๐ฐ๐ข๐ญ๐ก ๐๐ง๐ฌ๐ข๐ ๐ก๐ญ๐ฌ, ๐๐ก๐๐ซ๐ญ๐ฌ, ๐๐๐๐ฅ๐๐ฌ, ๐๐ง๐ ๐ ๐ข๐ ๐ฎ๐ซ๐๐ฌ): https://www.alliedmarketresearch.com/checkout-final/38b275f365ceb80b7a73e1271ba99007
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.
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Based on region, Asia-Pacific held the highest market share in terms of revenue 2020, accounting for more than one-third of the global canned sardines market. Moreover, the same region is expected to witness the fastest CAGR of 7.1% from 2022 to 2031. The factors such as easy and wide availability of canned sardines, attractive packaging of sardines, and growing preference for seafood are boosting the growth of the canned sardines market in Asia-Pacific region during the forecast period. Other regions discussed in the report include North America, Europe, and LAMEA.
๐๐ง๐ช๐ฎ๐ข๐ซ๐ฒ ๐๐๐๐จ๐ซ๐ ๐๐ฎ๐ฒ๐ข๐ง๐ : https://www.alliedmarketresearch.com/purchase-enquiry/7776
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.
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