Canned Sardines Market to reach a valuation of US$ 15.8 Billion and Expand at a CAGR of 6.3% by 2031

The Global Canned Sardines Market size was valued at $7.9 billion in 2020, and is estimated to reach $15.8 billion by 2031, growing at a CAGR of 6.3% from 2022 to 2031.

The factors such as the rising popularity of ready-to-eat products, growing awareness about health benefits offered by canned sardines, rising trade of sardines, increased production of sardines, and increased penetration of online shopping are driving the growth of the global canned sardines market.

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Sardines are considered as one of the healthiest sea foods and the omega-3 fatty acid present in the sardines spurs its consumption owing to the vivid health benefits. Taste, durability and perseverance of nutritional content are driving the canned sardines market growth.

The canned version of sardines is easy to sell and contains equivalent nutrition as in case of fresh or frozen sardines. This utility of the product makes it worth consuming for the customers. The growing consumer demands for premium sea food available in different flavors is boosting the potential for market.

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n 2020, Asia-Pacific accounted for more than half of the global market, and is expected to maintain its dominance during the canned sardines market forecast. Moreover, North America and Europe are expected to possess the highest CAGRs, owing to rise in health concerns among people and increase in popularity of canned sardines in these regions.

The major players analyzed for global canned sardines industry are Camil Alimentos, Century Pacific Food, Chicken of the Sea, Dongwon, Frinsa del Noroeste, Grupo Calvo, Ligo, Safe Catch, Thai Union Group (TUF), and Season Sardines.

These major market players have adopted various strategies to expand their market reach. The strategies adopted in the market are product launch and acquisition. The new market players are also entering the market with new products.

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