Canned Sardines Market

The factors such as the rising popularity of ready-to-eat products, growing awareness about health benefits offered by canned sardines

PORTLAND, OR, US, November 30, 2023 /EINPresswire.com/ -- 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.

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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.

Leading Key Players

Camil Alimentos
Century Pacific Food
chicken of the sea
Dongwon
frinsa del noroeste
Grupo Calvo
Safe Catch
Thai Union Group PCL.
Season Sardines

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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.

Based on distribution channel, the specialty stores segment accounted for the largest share in 2020, contributing to more than one-third of the global canned sardines market, and is projected to maintain its lead position during the forecast period. However, the online sales channel segment is expected to portray the largest CAGR of 7.0% from 2022 to 2031, due to increase in penetration of various online portals globally and rise in number of offers or discounts that attract consumers to purchase food & beverages through online channels.

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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.

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.

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Based on flavor, the oil segment held the highest market share in 2020, accounting for more than half of the global canned sardines market, and is estimated to maintain its leadership status throughout the forecast period. Canned sardines processed in oil is sold on a large scale as it is largely consumed globally. This drives the segment. However, the sauce segment is projected to manifest the highest CAGR of 6.8% from 2022 to 2031.

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