The canned sardine market size is expected to see strong growth in the next few years. It will grow to $14.15 billion in 2028 at a compound annual growth rate (CAGR) of 9.6%. The anticipated growth in the forecast period can be attributed to factors such as the increasing adoption of canned sardines, the widespread use of internet and smartphones, growing consumer demand for ethical and environmentally conscious products, heightened awareness of the health and wellness benefits associated with canned sardines, and the expanding influence of culinary trends. Key trends expected in the forecast period include innovative packaging formats and flavor varieties, a rising preference for sustainably sourced seafood, enhanced quality control and traceability, continuous product innovation, and the adoption of technologies and practices promoting sustainable fishing methods.
The canned sardines market is poised for growth, driven by increasing demand for processed food. Processed food refers to food items altered from their natural state through methods such as cooking, curing, smoking, or adding ingredients for preservation or flavor enhancement. This demand is driven by changing consumer lifestyles, preferences, evolving eating habits, food trends, demographics, and socioeconomic factors. Canned sardines, a part of processed foods, offer convenience and accessibility, especially appealing to time-conscious consumers. Ready-to-eat and requiring minimal preparation, they are convenient for quick meals or snacks. For example, in 2023, the United States Department of Agriculture reported that the total value of processed food products exported from the U.S. reached $36.59 billion, marking a 1.7% increase over previous years. Thus, the growing popularity of processed foods is expected to drive the canned sardines market forward.
Leading companies in the canned sardines market are focusing on developing sustainable products to address environmental concerns, enhance supply chain transparency, and meet rising consumer demand for eco-friendly options. Sustainable canned sardines are harvested, processed, and packaged in ways that promote long-term environmental health, support marine ecosystems, ensure fish availability for future generations, and encourage responsible environmental stewardship. For instance, in September 2022, Ocean Brands introduced a new line of canned seafood, including eight varieties of brisling sardines and mackerel fillets. Ocean Brands is expanding its sustainably sourced canned seafood offerings to the U.S. market with its new Ocean line, targeting health-conscious consumers seeking convenient, environmentally friendly options that taste great.
In January 2022, Century Pacific, a Philippines-based company specializing in canned sardines, acquired Ligo for an undisclosed amount. This acquisition aims to bolster Century Pacific's position in the Philippine canned sardines market by leveraging Ligo's brand equity and market leadership. Ligo, also based in the Philippines, is renowned for its canned sardines production.
Major companies operating in the canned sardines market are Brunswick Corporation, Thai Union Group (TUF), Bolton Group, Camil Alimentos, Century Pacific Food Inc., Frinsa del Noroeste S.A., Chicken of the sea, Hagoromo Foods Corporation, Tropical Food Manufacturing (Ningbo) Co. Ltd., Bumble Bee Food, FFM Berhad, Adabi Consumer Industries Sdn. Bhd, Nuri, Shines Sea Food, Wild Planet Foods, MW Polar, Crown Prince Inc., Matiz Espana, Ongreen Thailand Co, King Oscar AS, Safe Catch, Protigam Food Industries Sdn. Bhd.
Asia-Pacific was the largest region in the canned sardines market in 2023. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the canned sardines market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the canned sardines market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
Canned sardines are small, oily fish that undergo cleaning, cooking, and preservation in cans containing oil, water, tomato sauce, or other sauces. They are favored for their convenience, extended shelf life, and nutritional benefits, being rich in omega-3 fatty acids, protein, calcium, and other essential nutrients. Canned sardines are versatile, suitable for direct consumption or incorporation into salads, sandwiches, pasta dishes, or as a topping for crackers.
The primary types of canned sardines include smoked and cooked varieties. Smoked sardines undergo curing and flavoring through a smoking process before canning or packaging. They are available in various flavors such as olive oil, sunflower oil, tomato sauce, salt and water, and extra virgin oil, and are marketed with claims such as organic, kosher, non-GMO, no preservatives, among others. These products are distributed through food services, hypermarkets, supermarkets, convenience stores, specialty stores, and other outlets, catering to both household and commercial use.
The canned sardine market research report is one of a series of new reports that provides canned sardine market statistics, including canned sardines industry global market size, regional shares, competitors with a canned sardine market share, detailed canned sardine market segments, market trends, and opportunities, and any further data you may need to thrive in the canned sardines industry. This canned sardine market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The canned sardines market consists of sales of plan sardines, oil sardines, and water sardines. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
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Table of Contents
Executive Summary
Canned Sardines Global Market Report 2024 provides strategists, marketers and senior management with the critical information they need to assess the market.This report focuses on canned sardines market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
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Description
Where is the largest and fastest growing market for canned sardines? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The canned sardines market global report answers all these questions and many more.The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.
- The market characteristics section of the report defines and explains the market.
- The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
- The forecasts are made after considering the major factors currently impacting the market. These include:
- The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
- The impact of higher inflation in many countries and the resulting spike in interest rates.
- The continued but declining impact of COVID-19 on supply chains and consumption patterns.
- Market segmentations break down the market into sub markets.
- The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
- The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
- The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.
Scope
Markets Covered:
1) By Product Type: Smoked; Cooked2) By Flavor: Olive Oil; Sunflower Oil; Tomato Sauce; Salt And Water; Extra Virgin Oil; Other Flavors
3) By Claims: Organic; Kosher; Non-Genetically Modified Organisms (GMO); No Preservatives; Other Claims
4) By Distribution Channel: Food Services; Hypermarket And Supermarket; Convenience Stores; Specialty Stores; Other Distribution Channels
5) By Application: Households; Commercial
Key Companies Mentioned: Brunswick Corporation; Thai Union Group (TUF); Bolton Group; Camil Alimentos; Century Pacific Food Inc.
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time Series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita.
Data Segmentation: Country and regional historic and forecast data, market share of competitors, market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
Delivery Format: PDF, Word and Excel Data Dashboard.
Companies Mentioned
- Brunswick Corporation
- Thai Union Group (TUF)
- Bolton Group
- Camil Alimentos
- Century Pacific Food Inc.
- Frinsa del Noroeste S.A.
- Chicken of the sea
- Hagoromo Foods Corporation
- Tropical Food Manufacturing (Ningbo) Co. Ltd.
- Bumble Bee Food
- FFM Berhad
- Adabi Consumer Industries Sdn. Bhd
- Nuri
- Shines Sea Food
- Wild Planet Foods
- MW Polar
- Crown Prince Inc.
- Matiz Espana
- Ongreen Thailand Co
- King Oscar AS
- Safe Catch
- Protigam Food Industries Sdn. Bhd.
Methodology
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Table Information
Report Attribute | Details |
---|---|
No. of Pages | 175 |
Published | August 2024 |
Forecast Period | 2024 - 2028 |
Estimated Market Value ( USD | $ 9.81 Billion |
Forecasted Market Value ( USD | $ 14.15 Billion |
Compound Annual Growth Rate | 9.6% |
Regions Covered | Global |
No. of Companies Mentioned | 22 |