Indonesia Sardine Market: Import Trend Analysis
In the Indonesia sardine market, the import trend experienced a decline from 2023 to 2024, with a growth rate of -21.58%. The compound annual growth rate (CAGR) for imports from 2020 to 2024 stood at -9.38%. This negative momentum could be attributed to shifting consumer preferences or changes in trade policies impacting the market`s stability.
Sardine Market: Indonesia vs Top 5 Major Economies in 2027 (Asia)
Indonesia's Sardine market is anticipated to experience a high growth rate of 10.10% by 2027, reflecting trends observed in the largest economy China, followed by India, Japan, Australia and South Korea.
Indonesia Sardine Market Synopsis
Indonesia Sardine Market is anticipated to rise more in the near future. Indonesia is the largest producer of sardines in Southeast Asia, with total production estimated at 1.4 million tons in 2019. The country?s main sardine producing regions are located in Aceh, North Sumatra, West Java, and East Kalimantan.
Key Factors Driving the Market
Improving economic conditions and rising disposable incomes have boosted the demand for fish products such as canned sardines in Indonesia. Moreover, increasing exports to other countries has also driven growth for Indonesia producers. Additionally, foreign investment into the industry has provided a boost to local companies and helped them expand their operations to meet growing domestic demand as well as global demands from nearby countries such as Singapore and Malaysia.
Challenges Facing the Market
While Indonesia enjoys large-scale production of sardines due to its abundant coastal waters, certain environmental challenges can impede its full potential growth prospects. Pollution levels remain high around many port cities where fishing occurs meaning that some areas are no longer suitable for catching fish or farming seaweed which affects supply chain output significantly . Additionally , overfishing remains an issue within Indonesia since it lacks regional regulations on catch limits . This means that stock depletion is occurring much faster than new species can be replenished leading to unsustainable practices.
Key Market Players
The major players operating within the Indonesia Sardine market include PT Uni Surya Sejati , PT Nusantara Marine Products Corporation , PT Dua Ocean Fisheries , Prima Seafood International Pte Ltd., Bumi Agro Mulyo Abadi (BAMA), Fortuna Base Fish Industry etc.. These companies possess strong distribution networks across several export markets such as Europe , Japan & USA which enables them leverage current opportunities available globally.
Key Highlights of the Report:
- Indonesia Sardine Market Outlook
- Market Size of Indonesia Sardine Market, 2020
- Forecast of Indonesia Sardine Market, 2027
- Historical Data and Forecast of Indonesia Sardine Revenues & Volume for the Period 2023 - 2027
- Indonesia Sardine Market Trend Evolution
- Indonesia Sardine Market Drivers and Challenges
- Indonesia Sardine Price Trends
- Indonesia Sardine Porter's Five Forces
- Indonesia Sardine Industry Life Cycle
- Historical Data and Forecast of Indonesia Sardine Market Revenues & Volume By Type for the Period 2023 - 2027
- Historical Data and Forecast of Indonesia Sardine Market Revenues & Volume By Fresh Sardine for the Period 2023 - 2027
- Historical Data and Forecast of Indonesia Sardine Market Revenues & Volume By Frozen Sardine for the Period 2023 - 2027
- Historical Data and Forecast of Indonesia Sardine Market Revenues & Volume By Canned Sardine for the Period 2023 - 2027
- Historical Data and Forecast of Indonesia Sardine Market Revenues & Volume By Sardine Meals for the Period 2023 - 2027
- Historical Data and Forecast of Indonesia Sardine Market Revenues & Volume By Species for the Period 2023 - 2027
- Historical Data and Forecast of Indonesia Sardine Market Revenues & Volume By Sardinops Caeruleus for the Period 2023 - 2027
- Historical Data and Forecast of Indonesia Sardine Market Revenues & Volume By Sardinella Longiceps for the Period 2023 - 2027
- Historical Data and Forecast of Indonesia Sardine Market Revenues & Volume By Sardinella Gibbosa for the Period 2023 - 2027
- Historical Data and Forecast of Indonesia Sardine Market Revenues & Volume By Sardinella Aurita for the Period 2023 - 2027
- Historical Data and Forecast of Indonesia Sardine Market Revenues & Volume By Sardina Pilchardus for the Period 2023 - 2027
- Historical Data and Forecast of Indonesia Sardine Market Revenues & Volume By Others for the Period 2023 - 2027
- Historical Data and Forecast of Indonesia Sardine Market Revenues & Volume By End-Use for the Period 2023 - 2027
- Historical Data and Forecast of Indonesia Sardine Market Revenues & Volume By Food Processing for the Period 2023 - 2027
- Historical Data and Forecast of Indonesia Sardine Market Revenues & Volume By Animal Feed for the Period 2023 - 2027
- Historical Data and Forecast of Indonesia Sardine Market Revenues & Volume By Dietary Supplements for the Period 2023 - 2027
- Historical Data and Forecast of Indonesia Sardine Market Revenues & Volume By Others for the Period 2023 - 2027
- Historical Data and Forecast of Indonesia Sardine Market Revenues & Volume By Distribution Channel for the Period 2023 - 2027
- Historical Data and Forecast of Indonesia Sardine Market Revenues & Volume By Direct Sales for the Period 2023 - 2027
- Historical Data and Forecast of Indonesia Sardine Market Revenues & Volume By Indirect Sales for the Period 2023 - 2027
- Indonesia Sardine Import Export Trade Statistics
- Market Opportunity Assessment By Type
- Market Opportunity Assessment By Species
- Market Opportunity Assessment By End-Use
- Market Opportunity Assessment By Distribution Channel
- Indonesia Sardine Top Companies Market Share
- Indonesia Sardine Competitive Benchmarking By Technical and Operational Parameters
- Indonesia Sardine Company Profiles
- Indonesia Sardine Key Strategic Recommendations
