Canned Sardine Market is Projected to Grow at a CAGR of 7.50% during the Forecast Period, to Reach a Value of US$ 16,833.18 million by 2034 | Future Market Insights, Inc.

Amidst evolving consumer preferences and global economic shifts, the canned sardine market is witnessing a remarkable surge in demand, indicating promising growth prospects for the year 2024

NEWARK, Del, April 19, 2024 (GLOBE NEWSWIRE) — Canned sardines or any canned seafood has come a long way to become one of the must-haves in the grocery list of the general populace. With more people consuming canned sardines for their nutritional abundance, the global canned sardines market valuation is in line to surpass US$ 8,183.31 million in 2024. These sardines are perceived as a healthy dose of vitamins, amino acids, and calcium packed in a tin.         

Long coastlines in countries like India, the United States, China, and Japan have also led to the enormous consumption of canned sardines, leading to a healthy growth rate of 7.50% CAGR through 2034. Advancements in processing methodologies have also positively contributed to the increased consumption in these countries.

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Export-oriented production by countries like Portugal, Spain, Thailand, etc., is slated to take the market valuation to an outstanding US$ 16,833.18 million by the end of 2034. With social media influencers actively promoting the ‘fish in a tin’ trend and the health benefits of smoked sardines over other seafood, the market is likely to experience an upsurge in the coming decade.

Key Takeaways from the Market Study

• The smoked segment dominates the canned sardine market with an expected share of 58.60% in 2024.
• Based on the distribution channel, the hypermarket/supermarket segment leads the canned sardine industry with an anticipated share of 23.50% in 2024.
• The canned sardine industry in India is anticipated to grow at a CAGR of 7.30% through 2034.
• The canned sardine industry in China is estimated to rise at 6.80% CAGR through 2034.
• The canned sardine industry in the United States has the potential to increase at 4.50% CAGR through 2034.
• The Japan canned sardine industry is predicted to rise by 7.60% CAGR through 2034.
• The canned sardine market in Germany is in line to grow at a CAGR of 3.50% through 2034.

“Sustainability, like other industries, has also influenced the canned sardine market. This is why companies involved in the processing of canned sardines are implored to embrace sustainable practices right from sourcing to packaging”, – Nandini Roy Choudhury, Client Partner at Future Market Insights

The canned sardine market is gaining momentum due to the health benefits being promoted by social media influencers.

• Key companies in the market have invested billions of dollars to expand their consumer base and take advantage of this opportunity.
• The emergence of e-commerce platforms has further benefitted the market.
• Companies are embracing environment-friendly fishing practices to fulfill the demands of eco-conscious consumers.

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Recent Developments:

• In August 2023, Comur, a Portuguese sardine company, opened a glitzy bookshop-style store in Times Square selling sardine tins dating back to 1916, including $44 gold-flecked options.
• Melbourne welcomed Aussie Craft Tinned Fish at Blackhearts & Sparrows and Skinner & Hackett in November 2023.
• Little Tin Co. launched in South Australia in August 2023 as Australia’s sole craft cannery, offering sustainable canned seafood with a focus on sardines.

Country-wise Insights

Key Companies

• Wild Planet
• Crown Prine
• Santo Amaro
• Brunswick
• Matiz
• MW Polar
• Ocean Price
• Nuri
• Thai Union Group (TUF)
• Bumble Bee Food
• Natural Sea
• Frinsa del Noroeste
• Ongreen Thailand Co
• Ligo, Wild Planet
• Century Pacific Food
• King Oscar
• Others

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Key Segments of the Canned Sardine Industry

By Product Type:

• Smoked
• Cooked

By Flavor:

• With Olive Oil
• With Sunflower Oil
• With Tomato Sauce
• With Salt and Water (Brine)
• With Extra Virgin Oil
• Others (Soy Sauce, Vegetable oil, Natural oil)

By Claims:

• Organic
• Kosher
• Non-GMO
• No Preservatives
• Others

By Distribution Channel:

• Food Service
  • HoReCa
  • Quick Service Restaurants
  • Bakeries & Patisseries
• Travel Retail (airplanes, cruise ships, others)
• Retail
  • Hypermarket/Supermarket
  • Convenience Stores
  • Departmental Stores
  • Wholesale Stores
  • Mass Grocery Retailers
  • Independent Retailers
  • Specialty Stores
  • Online Retailers

By Region:

• North America
• Latin America
• Europe
• East Asia
• South Asia
• Oceania
• Middle East & Africa

Author by:

Nandini Roy Choudhury (Client Partner for Food & Beverages at Future Market Insights, Inc.) has 7+ years of management consulting experience. She advises industry leaders and explores off-the-eye opportunities and challenges. She puts processes and operating models in place to support their business objectives.

She has exceptional analytical skills and often brings thought leadership to the table.

Nandini has vast functional expertise in key niches, including but not limited to food ingredients, nutrition & health solutions, animal nutrition, and marine nutrients. She is also well-versed in the pharmaceuticals, biotechnology, retail, and chemical sectors, where she advises market participants to develop methodologies and strategies that deliver results.

Her core expertise lies in corporate growth strategy, sales and marketing effectiveness, acquisitions and post-merger integration and cost reduction. Nandini has an MBA in Finance from MIT School of Business. She also holds a Bachelor’s Degree in Electrical Engineering from Nagpur University, India.

Nandini has authored several publications, and quoted in journals including Beverage Industry, Bloomberg, and Wine Industry Advisor.

Explore FMI’s related ongoing Coverage in the Food and Beverage Domain:

• The global canned tuna market size is projected to be worth US$ 16,951.00 million by 2034. According to the estimates, the market is anticipated to exhibit a 4.80% CAGR until 2034.
• The global canned seafood market is expected to surpass US$ 48.2 billion in the next decade. Between 2023 and 2033, the market is likely to register 3.7% CAGR.
• The global canned tuna ingredients market size is expected to US$ 7,689.2 million by 2033. Over the next ten years (2023 to 2033), global canned tuna ingredient sales are likely to soar at 5.5% CAGR.
• The vegan tuna market is estimated to grow at over 4.3% CAGR between 2022 and 2032. The North American vegan tuna market is expected to register a 4.2% CAGR between 2022 and 2032.
• The global almond products market is expected to reach approximately US$ 15.2484 billion by 2033, with a growing CAGR of 6.3% from 2023 to 2033.
• The probiotic for men market is poised to be worth US$ 2,379.0 million in 2024, the market is inclined to expand to US$ 4,914.6 million, covering a CAGR of 7.50% through 2034.
• The global plant-based tuna market is expected to record a CAGR of 17% from 2023 to 2033. By 2033, the valuation is anticipated to reach US$ 1,320.6 million.
• The global superfood market report, FMI has estimated that the industry is set to reach a net worth of US$ 183.58 billion in 2024.
• The global food grade phosphate market is witnessing staggering growth with a market valuation of US$ 3,104.8 million in 2024. 
• The cannabis drinks market is expected to value US$ 0.4 billion in 2022 and is projected to grow at a CAGR of 37.3% during the forecast period of 2022 to 2032.

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

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