Dublin, Sept. 26, 2024 (GLOBE NEWSWIRE) -- The "Canned Sardines Market Report 2024" report has been added to ResearchAndMarkets.com's offering.
The canned sardine market size has grown strongly in recent years. It will grow from $8.98 billion in 2023 to $9.81 billion in 2024 at a compound annual growth rate (CAGR) of 9.3%. 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 growth during the historic period was driven by factors such as the popularity of convenience and ready-to-eat foods, rising concerns about sustainability and the environment, increasing transparency and security in food products, growing demand and adoption rates, and the affordability and shelf stability of products. 
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.
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.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 175 |
| Forecast Period | 2024 - 2028 |
| Estimated Market Value (USD) in 2024 | $9.81 Billion |
| Forecasted Market Value (USD) by 2028 | $14.15 Billion |
| Compound Annual Growth Rate | 9.6% |
| Regions Covered | Global |
Competitive Landscape and Company Profiles
- Brunswick Corporation
- Overview
- Products and Services
- Strategy
- Financial Performance
- Thai Union Group (TUF)
- Bolton Group
- Camil Alimentos
- Century Pacific Food Inc.
Other Major and Innovative Companies
- Frinsa del Noroeste S.a.
- Chicken of the sea
- Hagoromo Foods Corporation
- Tropical Food Manufacturing (Ningbo) Co. Ltd.
- Bumble Bee Food
- FFM Berhad
- Adabi Consumer Industries Sdn. Bhd
- Nuri
- Shines Sea Food
- Wild Planet Foods
- MW Polar
- Crown Prince Inc.
- Matiz Espana
- Ongreen Thailand Co
- King Oscar AS
Key Topics Covered:
1. Executive Summary
2. Canned Sardines Market Characteristics
3. Canned Sardines Market Trends and Strategies
4. Canned Sardines Market - Macro Economic Scenario
4.1. Impact of High Inflation on the Market
4.2. Ukraine-Russia War Impact on the Market
4.3. COVID-19 Impact on the Market
5. Global Canned Sardines Market Size and Growth
5.1. Global Canned Sardines Market Drivers and Restraints
5.1.1. Drivers of the Market
5.1.2. Restraints of the Market
5.2. Global Canned Sardines Historic Market Size and Growth, 2018 - 2023, Value ($ Billion)
5.3. Global Canned Sardines Forecast Market Size and Growth, 2023 - 2028, 2033F, Value ($ Billion)
6. Canned Sardines Market Segmentation
6.1. Global Canned Sardines Market, Segmentation by Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
- Smoked
- Cooked
6.2. Global Canned Sardines Market, Segmentation by Flavor, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
- Olive Oil
- Sunflower Oil
- Tomato Sauce
- Salt and Water
- Extra Virgin Oil
- Other Flavors
6.3. Global Canned Sardines Market, Segmentation by Claims, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
- Organic
- Kosher
- Non-Genetically Modified Organisms (GMO)
- No Preservatives
- Other Claims
6.4. Global Canned Sardines Market, Segmentation by Distribution Channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
- Food Services
- Hypermarket and Supermarket
- Convenience Stores
- Specialty Stores
- Other Distribution Channels
6.5. Global Canned Sardines Market, Segmentation by Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
- Households
- Commercial
7. Canned Sardines Market Regional and Country Analysis
7.1. Global Canned Sardines Market, Split by Region, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
7.2. Global Canned Sardines Market, Split by Country, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
For more information about this report visit https://www.researchandmarkets.com/r/gn67mu
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