Canned Tuna and Sardines Market REPORT OVERVIEW
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The global canned tuna and sardines market size was USD 11998.4 million in 2021 and is projected to touch USD 21084.1 million by 2031, at a CAGR of 5.8% from 2021 to 2031. The sudden rise in CAGR is attributable to the market's growth and demand returning to pre-pandemic levels once the pandemic is over.
Sardines are oily saltwater fish that are caught off the Atlantic Ocean's northern, eastern, and European shores. Countries like Portugal, Italy, and certain Middle Eastern nations that are on the Mediterranean coasts consume a lot of sardines because of their geographic significance. Portugal is the nation with the largest sardine consumption. While sardines can be found year-round, fresh sardines are most frequently found between May and October during the warm months. Additionally, sardines eat the most food and get bigger and tastier throughout that time of year. Sardines and tuna differ from one other in terms of size and weight. Sardines typically range in size from 15 to 30 cm and weigh about 150g each. They can be found in schools of them in the sea.
In all of the world's oceans, tuna, a saltwater fish, is fished for. Japan is the nation that consumes the most tuna, largely as a result of their cuisine's emphasis on sushi and sashimi. Because of its worth in the sushi market and its significance, tuna is frequently auctioned at auctions. Tunas of various varieties are caught at various times of the year. Bluefin tuna is caught in the Atlantic between June and November, and in the Pacific between May and October. The size and weight of the fish represent a key distinction between them. A typical tuna is two to 2.5 metres in length and weighs about 250 kilogrammes.
COVID-19 Impact: Supply Chain Disruption Causes Market Distortion
Because the canning industries are where canned tuna and sardines are made and processed, their operations have been suspended due to COVID-19's effects. Because of this, the stock procedure has deteriorated, disrupting the distribution system and lowering sales. Seafood has stopped travelling across the country because to the lockdown situation. This resulted in inventories stacking up too much in the domestic manufacturing nations, which spoiled the seafood. Because supply and demand for canned sardines could not be balanced, the market's earnings have decreased. As a result, the COVID-19 pandemic had a moderate effect on the canned tuna and sardines market. Trade and lockdown restrictions had caused a supply chain disruption that had a negative impact on the canned tuna and sardines market
LATEST TRENDS
"New Product Launch, Merger and Acquisition to Boost the Market Growth"
There are several different ways to can sardines. The fish are cleaned, their heads are cut off, and they are cooked at the cannery—either by deep-frying or by steaming—before being dried. They are then sealed in water, tomato, chilli, or mustard sauce, olive, sunflower, or soybean oil, or a combination of those three. Tuna is canned in a variety of sauces, brine, edible vegetable oils, and water. Only albacore can be marketed in cans as "white meat tuna" lawfully in the United States; yellowfin is also acceptable in other nations. In the United States, canned tuna is occasionally referred to as tuna fish. Australia's canned tuna was most likely southern bluefin in the early 1980s; but, as of 2003, it was more likely to be yellowfin, skipjack, or tango. Thus, a key trend that is opening up potential for the industry to grow is the development new launches, merger and acquisition process. These new developments are mostly to blame for the market's overall growth.
Canned Tuna and Sardines Market SEGMENTATION
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- By Type
Based on type, the market is classified into Canned Tuna, Canned Sardines and others.
- By Application
Based on application, the market is categorised into Supermarket, Speciality Food Store, Online and others.
DRIVING FACTORS
"Increasing Adoption of Varity of food dishes that Gives the Market Extra boost "
Canned tuna and sardines are used in making some of the special food dishes. When it comes to sardines, several nations each have their own national dish. For instance, pasta con le seared, spaghetti mixed with sardines and anchovies, is a well-known regional dish in Sicily, Italy. Sardine intake is very common in Portugal, since seafood is one of the main sources of proteins in the country's cuisine. Grilled sardines are among the most well-known sardine dishes. On the other hand, tuna can be eaten raw, as it is in Japanese cuisine's sushi and sashimi.
Raw tuna is highly valued since it requires a high level of culinary skill and the best fish to achieve the best flavours. Tuna may be grilled or canned in a variety of oils. In Japanese cuisine, raw tuna is the form that is most frequently consumed. Seared tuna is a popular tuna dish as well. There are many different ways to consume tuna from a can; one of the most popular is tuna pasta, which combines canned tuna with various pasta varieties and toppings. As a result, industry growth will be aided during the forecast period by the growing dependence on products. As a result, the growth, and the increasing variety of food dishes will boost the market. It will contribute to the expansion of the Food and Beverages industry and it will improve the overall canned tuna and sardines market growth.
"Increasing Consumption of Healthy Diets to Encourage Market Expansion"
Canned tuna and sardines are both consumed by people for a better health and diets. In contrast to tuna, which is prepared using dry heat, sardines are canned in oil. Sardines and tuna both have a glycaemic index of zero. Sardine has more calories per serving than tuna. The difference is not really significant, though. Sardine lacks the protein content of tuna. Both foods include a lot of protein, and the amino composition is diverse. Compared to tuna, sardines have more fat in them.
However, the additional oil is also to blame for the increased sardine content. In comparison to tuna, sardines have twice as much fat. Compared to tuna, sardines have a higher cholesterol content. Sardines have 100 mg more cholesterol per serving than tuna, which is a very high quantity. As a result, these factors are collectively promoting market expansion, increasing company revenues. As a result, the increasing consumption of healthy diets will help the market to boost.
RESTRAINING FACTORS
"Present Mercury Content in Product to Impede Market Expansion"
Due to water contamination, mercury is a heavy metal that is frequently found in fish. High mercury exposure has been linked to major health issues in humans, including damage to the central nervous system, according to research. Mercury may gather and concentrate in canned tuna and sardines because it is consumed along with other small fish that may already be tainted with the metal. As a result, tuna and sardines typically has a greater mercury content than other fish varieties like salmon or tilapia. According to studies, those who consume high mercury seafood at least once a week are more likely to have elevated mercury levels and feel exhausted. This poses a significant obstacle to market growth during the projection period. This may be a significant issue limiting market expansion. If this problem is fixed, the market will start to grow right away.
Canned Tuna and Sardines Market REGIONAL INSIGHTS
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"North America Dominating the Market Across the Globe"
The market for canned tuna and sardines in North America has benefited from the region's expanding industrial development, and various driving factors which has increased the potential sectors as this region is the largest user of the product. The key factor driving the growth of the canned tuna and sardines market share is the growing demand of product in Supermarket, Speciality Food Store, Online industry is one of the major reasons to drive the market. Rapid urbanization developments will further boost the overall market.
KEY INDUSTRY PLAYERS
"Leading Manufacturers to Boost Product Demand"
The analysis covers data on market participants and their positions within the industry. Through appropriate research, mergers, technological development, expanding production facilities, and collaboration, data is being gathered and made available. Information on manufacturers, regions, types, applications, sales channels, distributors, traders, dealers, research findings, and more is provided in the study on materials.
List of Market Players Profiled
- American Tuna (U.S.)
- Thai Union Group (TUF) (Thailand)
- Dongwon (South Korea)
- Bolton group (Italy)
- Frinsa del Noroeste (Spain)
- Century Pacific Food (Philippines)
- Natural Sea (U.N.)
- Camil Alimentos (Brazil)
REPORT COVERAGE
The study goes into great detail about market segmentation by type and application. The study examines a broad range of participants, including existing and potential market leaders. A considerable market expansion is anticipated as a result of several important factors. In order to provide market insights, the research additionally analyses elements that are probably to boost canned tuna and sardines market share. The report makes forecasts for market expansion during the projected time period. The objective of the regional study is to explain why one region dominates the worldwide market. There are a lot of issues that have all been carefully considered that prevent the industry from growing. The research also contains a market strategic analysis. It includes thorough market information.
REPORT COVERAGE | DETAILS |
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Market Size Value In |
US$ 11998.4 Million in 2021 |
Market Size Value By |
US$ 21084.1 Million by 2031 |
Growth Rate |
CAGR of 5.8% from 2021 to 2031 |
Forecast Period |
2024-2031 |
Base Year |
2023 |
Historical Data Available |
Yes |
Segments Covered |
Type and Application |
Regional Scope |
Global |
Frequently Asked Questions
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What value is the canned tuna and sardines market expected to touch by 2031?
Based on our research, the canned tuna and sardines market is projected to touch USD 21084.1 million by 2031.
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What CAGR is the canned tuna and sardines market expected to exhibit by 2031?
The canned tuna and sardines market for canned tuna and sardines is expected to exhibit a CAGR of 5.8% by 2031.
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Which are the driving factors of the canned tuna and sardines market?
Increasing adoption of variety of food dishes that gives the market extra boost increasing consumption of healthy diets to encourage canned tuna and sardines market expansion.
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Which are the top companies operating in the canned tuna and sardines market?
Present Mercury Content in Product to impede canned tuna and sardines market expansion.