The predicted value of the worldwide market for frozen mackerel is experiencing robust growth, with an estimated market value of US$ 1.11 billion in 2022. Fueled by health-conscious consumer trends and the rich nutritional profile of mackerel, the market is projected to reach an impressive US$ 2.14 billion by 2023, showcasing a promising 6.1% CAGR from 2023 to 2033. Mackerel, renowned for its omega-3 fatty acids, protein content, and vitamin B12 abundance, is gaining traction worldwide.
Health Benefits Driving Consumption: The surge in consumer awareness regarding the health benefits associated with mackerel consumption is a primary growth factor. Mackerel is acknowledged for its immune system-boosting properties, heart health benefits, bone strength enhancement, and cognitive health promotion. The market is witnessing increased demand as individuals recognize the positive impact of fish consumption on overall well-being.
Sustainability and Convenience: The market’s unique selling proposition lies in the sustainability practices adopted by consumers and increased affordability. With the adoption of sustainable fish farming practices, consumers are contributing to the market’s growth. Furthermore, the product’s benefits, including a lengthy shelf life, ease of preparation, and convenience in distribution, position frozen mackerel as an attractive choice for health-conscious and environmentally-aware consumers.
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Veganism and Regulatory Constraints: The rising popularity of veganism poses a potential threat to frozen mackerel sales. As animal welfare awareness grows, a segment of the population actively avoids fish and meat consumption, impacting market sales. Additionally, strict regulatory rules on mackerel fishing, including quotas and limited processing time frames, are key constraints hindering production and sales growth.
The development of canning, refrigeration, and other forms of preservation has made mackerel more resilient and accessible all over the world. In comparison to other fish, the frozen mackerel is more affordable. These variables are anticipated to accelerate market for frozen mackerel during the forecast period.
The main reason fueling the expansion of this market is rising awareness among consumers of the health advantages connected. There has also been an increase in consumer demand for them during the course of the projection period as a result of these goods’ abundant sources of fatty acids, protein, and vitamin B-12. In the years to come, the frozen mackerel market is anticipated to rise as consumers become more aware of the health advantages of fish, such as immune system boosters and improvements in bone strength, cardiovascular wellness, and cognitive health.
Key Takeaways from the Market Study
- Sales of frozen mackerel increased at a CAGR of 4.8% from 2018 to 2022.
- Horse mackerel is the most popular variety among the species, with a decisive share of more than 57% in 2023.
- From 2023 to 2033, the demand for aquaculture-derived frozen mackerel is anticipated to grow at a 6.5% annual rate.
- The most popular variety of frozen mackerel, with a commanding share of more than 42.7% in 2022, is entire round.
- Through 2033, it is expected that the United States would hold more than 65% of the market in North America.
- In 2023, the frozen mackerel market in the GCC nations is projected to be worth US$78.2 Mn.
- Through 2023, Russia is expected to represent about 21.2% of the European market.
“Mackerel consumption rises as a result of a growing population’s preference for protein-rich, nutritious meals, which is anticipated to fuel market expansion throughout the course of the projected period.” remarks an FMI analyst.
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Competitive Landscape
In the fields of medicine, food, and feed, frozen mackerel is widely employed. Major producers are working on expanding their network of dealers to reach a larger consumer base due to the strong demand and variety of uses for frozen mackerel.
They are focusing on purchasing smaller businesses to increase their manufacturing and distribution networks. Prominent players in the frozen mackerel market are:
- Ocean Treasure
- Kihada Fisheries Co., Ltd
- Seven Star Ocean Fisheries Limited
- Pinetree Vietnam Company Limited
- Subo International Holland
- Oman Fisheries Co.S.A.O.G
- LONGSHENG AQUATIC PRODUCTS CO., LTD
- Lotana LV LTD
- DAISUI CO.,LTD
- SARMA FISH S.A.R.
Some key developments of the leading companies in this market are:
- In Taizhou, Zhejiang, China, Longsheng Aquatic Products Co., Ltd. is a well-known supplier of frozen seafood. They have advanced greatly as a result of the advantages of abundant marine resources and superior product quality. Their primary offerings are Spanish mackerel full round and filets, entirety round and HGT of bonito, whole round and HGT of frozen mackerel, and filets of horse mackerel.
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Key Segments Profiled in the Global Frozen Mackerel Market
By Species:
- Horse
- Pacific
By Source:
- Wild Catch
- Aquaculture
By Type:
- Whole Round
- HGT
- Fillet
- Others (flap, etc.)
By Sales Channel:
- Direct Sales
- Retail Sales
- Modern Trade
- Convenience Stores
- Specialty Food Stores
- Wholesale Stores
- Discount Stores
- Online Retail
- Other Retail Formats
By Application:
- Food Industry
- Pharmaceutical Industry
- Animal Feed
- Pet Food
- Food Service
- Retail
By Region:
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East and Africa
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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