Sardine Market Size – USD 18.21 Billion in 2018, Sardine Market Growth – CAGR of 0.7%
NEW YORK, NEW YORK, UNITED STATES, March 30, 2020 /EINPresswire.com/ — The global Sardine market is forecast to reach USD 19.50 Billion by 2027, according to a new report by Reports and Data. Sardine, also referred to as herring fish or pilchard, and belongs to the Clupeidae family. Sardine is a small, elongated fish with silver skin and is generally found in the Mediterranean Sea and Pacific and Atlantic Oceans.
Sardines are consumed across the globe as they are rich in vitamin B12 and B2, phosphorus, calcium, niacin, selenium, potassium, and omega-3 fatty acids. Moreover, they are also used as animal feed and also utilized commercially for paint and varnish. The consumption of sardine helps in enhancing heart functions, boosts the immune system, and regulates cholesterol levels. It also helps in losing weight and maintaining the salt level in the body. These benefits are driving the demand for sardine globally.
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The Asia Pacific held the largest market for sardines. The region is one of the biggest and fastest-growing across the globe. Changes in the lifestyle of people and the rise in disposable income are affecting the market. China has a high market growth, and it also has the capacity to pay more for premium and high-quality seafood, which in turn propels the market growth. In countries such as India, fish farming is a successful and profitable commercial business. The country's share of fish production was approximately 6% during the year 2018. Adoption of advanced fish techniques are going to provide ample growth opportunities in the Asian markets
Further key findings from the report suggest
• Canned sardines can even be found in the supermarket. They can either be sprat or round herrings. The fishes differ in species. Premium quality sardines are generally removed off head and gills before packing. They may also be eviscerated before packing, and if not, then they are purged of undigested or partially digested food or feces.
• Canned sardine are packed tightly in a small can, which is done to easy opening, either by pulling tab or with a key attached to the side of the can. Canned sardine has the characteristics of being nonperishable, easily portable, and self-contained food.
• The Sardina pilchardus is a species of ray-finned fish in the genus Sardina. The young ones of the species are sometimes called sardines. This species is commonly found in the Mediterranean, the northeast Atlantic, and the Black Sea. Its range extends from Iceland and the southern part of Norway and Sweden southwards to Senegal in West Africa.
• The growing demand for ready to eat and ready to cook food along with an increase in health awareness among the consumers are driving the demand for seafood products in the North American region. The canned sardines are popular as they reduce cooking time in the busy and hectic life schedule and are also full of health benefits.
• Key participants include King Oscar, Season Brand, Crown Prince, Inc., Beach Cliff, Emilia Foods International, Sea Gold SRL, DSI Foods Limited, Bumble Bee Foods, Century Pacific Food, and Litoralfish, among others.
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For the purpose of this report, Reports and Data have segmented into the global Sardine market on the basis of type, species, distribution channel, and region:
Type Outlook (Revenue, USD Billion; Volume, Kilo Tons; 2016-2027)
• Canned Sardine
• Fresh Sardine
• Frozen Sardine
Species Outlook (Revenue, USD Billion; Volume, Kilo Tons; 2016-2027)
• Sardina Pilchardus
• Sardinella longiceps
• Sardinella Gibbosa
• Sarnidrops Caeruleus
• Sardinella Aurita
Distribution Channel Outlook (Revenue, USD Billion; Volume, Kilo Tons; 2016-2027)
• Supermarkets and Hypermarkets
• Convenience Markets
Regional Outlook (Revenue, USD Billion; Volume, Kilo Tons; 2016-2027)
• North America
• Asia Pacific
• Latin America
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Source: EIN Presswire