Global Sardine Market Overview 2018: Growth, Demand and Forecast Research Report to 2023
Added: (Thu Jan 10 2019)
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The global sardine market has experienced steady growth in the past few years. The rising consumption of sardines can be attributed to their various health benefits, easy availability and increasing popularity of canned seafood products.
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The latest report by IMARC Group, titled “Sardine Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2018-2023”, estimates that the global sardine market reached a volume of 3.5 Million Tons in 2017. Sardine, also referred to as pilchard or herring fish, belongs to the Clupeidae family. It is a small, elongated fish with silver skin which can be found in the Mediterranean Sea as well as the Atlantic and Pacific Oceans. Sardines usually feed on planktons owing to which they contain lower levels of mercury than other fishes. They are widely consumed across the globe as they are rich in vitamin B2 and B12, niacin, phosphorus, potassium, calcium, iron, selenium, and omega-3 fatty acids. Apart from this, they are used as animal feed and are also commercially farmed for oil which is further utilized for manufacturing paint and varnish.
Market Trends:
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. As a result, the market is projected to reach a volume of 3.6 Million Tons by 2023, expanding at a CAGR of approximately 1% during 2018-2023.
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