Canned Sardine Market Overview
The Canned Sardine Market Size was estimated at 9.54 (USD Billion) in 2022. The Canned Sardine Market Industry is expected to grow from 9.8(USD Billion) in 2023 to 12.5 (USD Billion) by 2032. The Canned Sardine Market CAGR (growth rate) is expected to be around 2.74% during the forecast period (2024 - 2032).
Source Primary Research, Secondary Research, MRFR Database and Analyst Review
Key Canned Sardine Market Trends Highlighted
The Canned Sardine Market encompasses many changes that are caused by changing consumer behavior and industry trends. One of the main factors is health awareness, which is why the need for nutritious and inexpensive canned sardines is rising; they are also easier to cook compared to other proteins. Other habits, such as increased snacking and cooking from home, have enhanced the growth of the market. Furthermore, as the ease of ordering groceries from internet sites increases, so does the expansion of the market. The market is also impacted by sustainability and green product consumption as the customers are more inclined to buy products that are produced in an environmentally clean way. Further, the dispensing technology has improved, which has led to new products and new product lines, which have enhanced shelf life and taste as well. Such trends in the market support the argument that the Canned Sardine Market has a bright future and more prospects in terms of growth and transition in the coming years.
Canned Sardine Market Drivers
Rising Health Consciousness and Demand for Convenient Protein Sources
Consumers are becoming increasingly health-conscious and seeking convenient protein sources to meet their nutritional needs. Canned sardines are a rich source of protein, omega-3 fatty acids, and other essential nutrients. They offer a convenient and affordable way to incorporate these nutrients into the diet, which is driving the growth of the Canned Sardine Market Industry. The increasing popularity of healthy and convenient meal options, such as salads, sandwiches, and wraps, is also contributing to the growing demand for canned sardines.
Growing Popularity of Ethnic Cuisines and Seafood Consumption
The high consumption of canned sardines is mainly attributed to the growing popularity of ethnic cuisines, especially from Mediterranean and Asian regions around the world. These types of food mostly consist of sardines used in making salads, pasta dishes, and curries. In addition to this, high consumption of seafood, which has been promoted as healthy for consumption, is the other major factor that leads to the growth of the industry.
Expansion of Retail and E-commerce Channels
The canned sardine market is becoming easily accessible to end-users since the prominence of the retail and e-commerce channels is increasing. Supermarkets, hypermarkets, and convenience stores, to meet the increasing demand, have seen an increase in shelf space for canned sardines. E-commerce has also broadened the accessibility of canned sardines, affecting the market positively since customers can place online orders to acquire the product.
Canned Sardine Market Segment Insights
Canned Sardine Market Species Insights
The canned sardine market is divided into three types of species. First of all, there is Sardina pilchardus, which was the most popular option, with approximately 45% of the market share in 2023. The species is a common resident of the Atlantic Ocean and is recognized for its high nutritious value and tender flavor. In addition, fish is a popular natural choice in Europe, particularly in Portugal and Spain, where it is frequently used in the local gastronomy. The second most widespread option is Sardinella aurita, also recognized as the round sardinella.Mostly found in the Mediterranean Sea, this fish is shorter and has a more delicate flavor than Sardina pilchardus. Sardinella aurita is frequently found in Italy, Greece, and Turkey, where it is employed in salads, pasta dishes, and pizza. The third species, Sardinops sagax, is the Pacific sardine that comes from the Pacific coast of North America. It is larger and oilier than the other two options, and it is consumed chiefly in the United States, Canada, and Mexico. This species is frequently used in sandwiches and salads and employed as taco toppings.There are several factors contributing to the market’s increase, including the rise in consumer familiarity of sardines’ beneficial impacts on health and the increasing requests for canned and ambient seafood since they are handy and able to be preserved for an extended duration. Additionally, sardine consumption as part of ethnic meals, particularly Asian, Spanish, and Italian cuisines, is gaining popularity.
Source Primary Research, Secondary Research, MRFR Database and Analyst Review
Canned Sardine Market Packaging Insights
The packaging segment of the Canned Sardine Market is categorized into cans, jars, and pouches. Among these, cans dominate the market, accounting for over 60% of the revenue in 2023. The widespread adoption of cans is attributed to their durability, cost-effectiveness, and ability to preserve the freshness and quality of sardines. However, pouches are gaining popularity due to their lightweight, convenience, and reduced environmental impact. The Canned Sardine Market is expected to witness a significant rise in demand for pouches over the forecast period, driven by increasing consumer preference for sustainable packaging solutions.
Canned Sardine Market Processing Insights
The Canned Sardine Market is segmented into processing types such as Natural, Smoked, and Flavored. Among these segments, the Natural segment accounted for the largest market share in 2023, and it is projected to continue its dominance throughout the forecast period. The growing consumer preference for minimally processed and natural food products is a major factor driving the growth of this segment. Furthermore, the increasing awareness about the health benefits of consuming natural sardines, such as their high content of omega-3 fatty acids and protein, is expected to further boost the demand for natural canned sardines in the coming years.The Smoked segment is also expected to witness significant growth during the forecast period, owing to the increasing popularity of smoked seafood products among consumers. The unique flavor and aroma of smoked sardines make them a popular choice for various culinary applications, such as salads, sandwiches, and pizzas. The Flavored segment is another promising segment in the Canned Sardine Market, with a growing number of consumers opting for flavored sardines to add variety to their meals. Various flavors, such as lemon pepper, garlic herb, and tomato basil, are available in the market, catering to the diverse preferences of consumers.
Canned Sardine Market Distribution Channel Insights
The Canned Sardine Market is segmented based on distribution channels into retail, foodservice, and online. The retail segment accounted for the largest market share in 2023, owing to the wide availability of canned sardines in supermarkets, hypermarkets, and convenience stores. The foodservice segment is expected to grow at a steady CAGR during the forecast period, driven by the increasing demand for canned sardines in restaurants, cafes, and other foodservice establishments. The online segment is also expected to witness significant growth due to the increasing popularity of e-commerce platforms and the convenience of home delivery.
Canned Sardine Market Regional Insights
The Canned Sardine Market is segmented regionally into North America, Europe, APAC, South America, and MEA. Among these regions, APAC is expected to hold the largest market share in 2023, owing to the increasing demand for canned sardines in countries such as China, India, and Japan. Europe is also a significant market for canned sardines, with countries such as Spain, Portugal, and France being key consumers. North America is another important market for canned sardines, with the United States being the largest consumer in the region. South America and MEA are expected to witness steady growth in the canned sardine market in the coming years.The Canned Sardine Market is expected to grow at a CAGR of 2.74% from 2024 to 2032, reaching a market valuation of USD 12.5 billion by 2032.
Source Primary Research, Secondary Research, MRFR Database and Analyst Review
Canned Sardine Market Key Players And Competitive Insights
Looking through the main tendencies in the Canned Sardine Market Competitive Landscape, it becomes clear that this industry is witnessing significant growth. Major players try to benefit from the opportunity and increase their competitive edge by adopting different strategies such as product innovation, geographical expansion, and strategic partnerships. In general, leading Canned Sardine Market players are targeted at the significant investment in research and technology that allows them to create innovations and meet the customers’ requirements. It is acknowledged that the Canned Sardine Market development is determined by such factors as increasing health consciousness, growing disposable income, changing diet, and thus, changing preferences. It is necessary to point out that the Canned Sardine Market Competitive Landscape is rather fragmentized, with multiple regional and players.
Bumble Bee Seafoods, the leading Canned Sardine Market player, is a company that has a strong position ly and operates in different markets with a diversified product portfolio. In other words, Bumble Bee Seafoods focuses on the delivery of high-quality canned seafood to its millions of consumers. In addition, it is vital to state that Bumble Bee Seafoods has a good reputation and a relatively strong customer base. Moreover, the company is also admitted for its strong position in terms of environmental sustainability and environmental-friendly food production.
Another significant Canned Sardine Market player is Princes Limited, the main local brand in the UK and Ireland. The variety of its canned products includes sardines, as well as tuna, and salmon. Being the leader, Princes Limited remains the company that concentrates on product development and the constant introduction of new products to meet changing customer demands.
Key Companies in the Canned Sardine Market Include
Canned Sardine Market Industry Developments
The canned sardine market is projected to reach USD 12.5 billion by 2032, exhibiting a CAGR of 2.74% during the forecast period. Increasing consumer preference for convenient and shelf-stable food options, coupled with growing health consciousness, is driving market growth. Asia Pacific is expected to dominate the market, owing to the high consumption of canned sardines in countries like China, Japan, and India. Key players in the market include Thai Union Group, Bolton Group, and Grupo Calvo. Recent news developments include the launch of new product variants by major players to cater to evolving consumer, such as flavored and organic canned sardines.
Canned Sardine Market Segmentation Insights
Canned Sardine Market Species Outlook
Canned Sardine Market Packaging Outlook
Canned Sardine Market Processing Outlook
Canned Sardine Market Distribution Channel Outlook
Canned Sardine Market Regional Outlook
| Market Size 2022 | 9.54(USD Billion) |
| Market Size 2023 | 9.8(USD Billion) |
| Market Size 2032 | 12.5(USD Billion) |
| Compound Annual Growth Rate (CAGR) | 2.74% (2024 - 2032) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Base Year | 2023 |
| Market Forecast Period | 2024 - 2032 |
| Historical Data | 2019 - 2023 |
| Market Forecast Units | USD Billion |
| Key Companies Profiled | Dongwon Industries, Tri Union Seafood, Princes Group, King Oscar AB, MW Brands, LyondellBasell Industries, Mitsubishi Corporation, Thai Union Group, Century Pacific Food, Mitsui Co, Frabelle Fishing Corporation, Bumble Bee Seafoods, Bolton Group, China Fishery Group, Maruha Nichiro, |
| Segments Covered | Species, Packaging, Processing, Distribution Channel, Regional |
| Key Market Opportunities | Growth in ecommerce platforms Rising health consciousness Increasing demand from developing countries Growing popularity of ready-to-eat meals Expansion of retail networks |
| Key Market Dynamics | Rising health consciousness Growing demand from emerging markets Innovations in packaging Ecommerce expansion Sustainable fishing practices |
| Countries Covered | North America, Europe, APAC, South America, MEA |
Frequently Asked Questions (FAQ) :
The Canned Sardine Market is expected to reach a market size of 9.8 Billion USD in 2023.
The Canned Sardine Market is expected to reach a market size of 12.5 Billion USD in 2032.
The Canned Sardine Market is expected to grow at a CAGR of 2.74% from 2024 to 2032.
The Asia Pacific region is expected to hold the largest market share in the Canned Sardine Market in 2032.
The retail segment is expected to hold the largest market share in the Canned Sardine Market in 2032.
Key competitors in the Canned Sardine Market include Thai Union Group, Bolton Group, Grupo Calvo, and Austevoll Seafood.
Key growth drivers of the Canned Sardine Market include rising demand for convenient and healthy food options, growing population, and increasing urbanization.
Key challenges facing the Canned Sardine Market include fluctuating fish prices, competition from other seafood products, and environmental concerns.
Key opportunities for the Canned Sardine Market include product innovation, expanding into new markets, and developing sustainable practices.
Key trends in the Canned Sardine Market include increasing demand for premium products, growing popularity of online retail, and rising awareness of sustainability.
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Assistant Manager - Research High acumen in analyzing complex macro & micro markets with more than 6 years of work experience in the field of market research. by implementing her analytical skills in forecasting and estimation into market research reports, she has expertise in packaging, construction, and equipment domains. she handles a team size of 20-25 resources and ensures smooth running of the projects, associated marketing activities, and client servicing.
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