The global sardine market reached a volume of 3.5 Million Tons in 2021. Looking forward, IMARC Group expects the market to reach 3.8 Million Tons by 2027, exhibiting a CAGR of 1.4% during 2022-2027.
Sardine belongs to the Clupeidae family and is also referred to as herring fish or pilchard. It is a small, elongated fish with silver skin and is mostly found in the Mediterranean Sea and the Pacific and Atlantic oceans. Sardines generally feed on planktons, due to which they have lower mercury levels compared to other fish. They are a rich source of vitamins B2 and B12, omega-3 fatty acids, niacin, phosphorus, potassium, calcium, iron, and selenium. As a result, they are widely consumed around the world, as well as used in animal feed. They are also commercially farmed for oil, which is further utilized for manufacturing paints and varnish.
The consumption of sardines help in improving heart functions, regulating cholesterol levels, boosting the immune system, losing weight and maintaining salt level in the body. Due to these health benefits, there has been a rise in their consumption worldwide. Another factor that has impelled the demand for sardines is their availability at affordable prices in comparison with other fish species with the same nutritional value. Additionally, the long shelf-life of sardines coupled with the escalating popularity of ready-to-eat seafood products is anticipated to drive the growth of the sardine market. Moreover, the adoption of sustainable fish farming techniques by manufacturers is likely to create a positive outlook for the market.
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
Some of the key players being: Sysco Corporation Sysco Corporation (SYY), Charoen Pokphand Foods Public Company Limited (CPF.BK), Pacific Coral Seafood Co Inc, Century Pacific Food Inc (CNPF.PS), THAI UNION GROUP PUBLIC COMPANY (TU.BK), Season Brand, King Oscar, Beach Cliff, Crown Prince, Inc.
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Key Insights from the Report:
On the basis of species, Sardina pilchardus is currently the most popular species of sardines. Other major species include Sardinops caeruleus, Sardinella longiceps, Sardinella aurita, and Sardinella gibbosa.
Based on product types, the market has been segregated into canned sardine, frozen sardine and fresh sardine. Amongst these, canned sardine holds the majority of the market share, representing the leading product type.
Based on distribution channels, supermarkets and hypermarkets account for the largest share of the global sardine market. Other distribution channels include convenience stores, hotels and restaurants, online and others.
On the geographical front, the market has been segmented into Asia Pacific, Middle East and Africa, Americas and Europe. Currently, Asia Pacific is the leading producer of sardines, dominating the total market.
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