Sardine is a nutrient-rich, oily fish widely consumed by humans and as bait fish for larger fishes, sea animals, and other mammals. It is considered a healthy source of omega-3 fatty acids and is high in protein and calcium. Sardine has a wide distribution in Northeast Atlantic and the Mediterranean Sea. Sardine market is growing at a steady pace owing to the health benefits it provides including improved heart functions, maintaining cholesterol levels, immune system improvement, cardiovascular health, reduce the risk of Alzheimer's disease, boost brain function, and lower the blood sugar level. The narrowing supply-demand balance existing in global markets for multiple species, with an entirely positive global economic outlook for the forecast period, suggest that the extensive strengthening of sardine demand will continue.
Growth of Global Aquaculture Driving the Demand for Sardine:
Fishes are the key source of omega-3 fatty acids and DHA, which are known globally as a key aspect in human health. Sardines are considered among the world's healthiest kinds of seafood and until recently, have only had niche appeal. However, the sardine market has grown and gained significant popularity. Commercially, sardines are caught for a range of uses including direct consumption, for bait, drying, canning, and smoking and reduction into fish meal. Though, the primary use of sardines is for human consumption. The growth of premium seafood has given rise to demand for organic certified sardine. Furthermore, the price of sardines is lower as compared to other fish species with the same nutritional values, which is anticipated to help the growth of the sardine market.
Global Sardine: Market Segmentation
On the basis of Type, the global sardine market has been segmented as –
On the basis of Species, the global sardine market has been segmented as –
On the basis of end use, the global sardine market has been segmented as –
On the basis of Sales Channel, the global sardine market has been segmented as –
Global Sardine Market: Key Players
Some of the key players operating in the global sardine market are Season Brand, King Oscar, Beach Cliff, Crown Prince, Inc., Olig Seafood, Emilia Foods International, Litoralfish, Sea Gold SRL, Sanyo Corporation, DSI Foods Limited, Vialco Skourtopoulos S.A., Ocean Develop Seafoods, Inc., Dacheng International Trade Co.,Ltd., P Interfood, Mikado Foods, Bumble Bee Foods, Ongreen Thailand Co., Century Pacific Food, among others.
Key Developments in the Sardine Market
Sardine market has recorded a weighty growth in the last few years on the outline of various product launches. For instance, in 2013, StarKist Co., a U.S based food company focused on healthy, shelf-stable products, introduced Gourmet Select Sardines in three different flavorful gourmet sauces which include; classic Extra Virgin Olive Oil, Whole Grain Dijon Mustard, and rustic Tuscan Style Tomato Sauce.
Also, the manufacturers emerging in the sardine market are laying the groundwork for the market growth. For instance, Grupo Pinsa, the owner of the Mexican firm Dolores, a leader and one of the most recognized tuna brands invested 30 Million US dollars in a canning and freezing facility to enter the sardine market.
Opportunities for Market Participants in the Sardine Market
The frozen sardines that are consumed directly or used in the making of numerous processed foods is leading in the global trade of sardine market. Aggregate global sardine demand picked up in 2017, assisted by advancing commercial settings in both developed and developing regions, plus the revival of some major evolving sardine markets such as Russia and Brazil.
By type, sardines are generally consumed fresh, but they are most commonly found canned since they are so perishable. The suppliers in the sardine market could emphasis on the canned segment as it seems a hot prospect in the forecast period. With growing health concerns among consumer, more people than ever are turning to sardines as they are at the bottommost of the aquatic food chain, feeding on planktons and thus do not contain any metals like mercury, and other contaminants that can be found in the other fishes, which is a dominant driving force of the sardine market.
Countries having main sardine fisheries are Canada, England, Croatia, France, India, Italy, Japan, Morocco, Norway, Peru, Portugal, Spain, Turkey, and the United States. The outlook for the growth of the sardine market in these countries is increasing relatively at a healthier rate. In terms of Consumption, the APAC countries such as China and Korea are dominating the sardine market. Notably, China has continuously been the major market for sardine, primarily for its large seafood industry.
Brief Approach to Research
The analysis will be done on a modeling-based approach and triangulation methodology to estimate data covered in this report. A detailed market understanding and assessment of the flavor, application and encapsulation process of the segments covered in the study is followed by carrying out a demand-side approach to estimate the sales of target segments, which is then cross-referenced with a supply-side assessment of value generated over a pre-defined period. The statistics and data are collected at a regional level, consolidated and synthesized at a global level to estimate the overall market sizes.
Key Data Points Covered in the Report
Some of the key data points covered in our report include: