Global Mackerel Market - 2022-2029

Global Mackerel Market - 2022-2029

Market Overview

The global mackerel market was valued at USD XX million in 2021. It is forecasted to reach USD XX million by 2029, growing at a CAGR of XX% during the forecast period (2022-2029).

Mackerel is a popular term for various pelagic fish species, most of which belongs to the Scombridae family. They live largely along the coast or offshore in the oceanic environment, temperate and tropical seas. Mackerel is popular seafood that is consumed all around the world. It is high in omega-3 fatty acids because it is an oily fish. Mackerel flesh degrades quickly, particularly in the tropics, and can result in scombroid food illness. Although mackerel should be consumed on the day of catch, it is cured or pickled in numerous places worldwide, allowing it to be widely distributed. Furthermore, the development of canning, refrigeration and other preservation methods allowed mackerel to be preserved, making it a globally important fish. Consumer knowledge of the health benefits of including mackerel in their diet drives industry demand.

Market Dynamics:

Increasing awareness of the health benefits of mackerel is driving the market

Growing health consciousness among people worldwide is a major factor driving the global mackerel market forward. Mackerel eating offers several health benefits since it contains key minerals like protein, selenium, and vitamin 012. Mackerel can provide a good nutritional basis for preventing anemia that results from nutritional deficiencies. The fatty fish contains iron, vitamin B12, and some folate. Furthermore, studies have demonstrated polyunsaturated fats help reduce the rate of cardiovascular disease incidence and death. Fish oil supplements have also been found in numerous studies to help decrease triglycerides without raising other forms of cholesterol. Mackerel is also gaining traction in the fisheries market, owing to customer preferences for healthy meals that include protein-rich mackerel diets, which is projected to fuel market expansion. With an increasing number of health-conscious people and the benefits of fish enhancing bone strength, boosting immunity, and improving cognitive and heart health, the mackerel market is expected to grow rapidly in the next years.

Furthermore, the product has a high concentration of fatty acids, which aid in endurance and maintaining healthy, bright skin. Omega-3 fatty acids, such as EPA (eicosapentaenoic acid) and DHA (docosahexaenoic acid), are found in mackerel and aid in lessening and preventing cardiovascular disease. The sector is expected to grow during the projected period because of these health benefits.

Market Segmentation:

Frozen segment accounted for the highest share in global mackerel market

In 2021, the frozen form category accounted for around XX percent of the global market value. In the preservation of fish, frozen forms are commonly used. Freezing helps in making the product available round the year for consumption. Furthermore, freezing fish stops all microbial activities, resulting in food spoiling and illness. Furthermore, frozen seafood or fish undergoes a thorough microbiological inspection, ensuring that it is safe to eat. Owing to all these factors, the growth of this segment is anticipated to boost over the coming years.

The online sales channel is expected to grow at the highest CAGR of XX% in the mackerel market. Although brick and mortar retailers hold a strong position in the mackerel market, increased demand for canned fish products around the world and new e-commerce trends are expected to have a significant impact on the industry's growth. Because of the convenience of online purchasing and the simplicity of finding products on e-commerce sites, significant mackerel market participants have been influenced to offer their products online and boost their profitability. Players in the mackerel industry will benefit from increased attention on online customers, forays into new retail formats, and product developments.

Geographical Penetration:

Asia-Pacific is the dominating region during the forecast period.

Asia Pacific holds the highest industry share of over XX% in 2021, owing to most fish capture and aquaculture being done. The mackerel market has grown in popularity in underdeveloped countries due to its numerous health benefits at a low cost. Large coastal areas and the growing population in this region support fish farming and fishing. As a result of these factors, the market in this region is expected to increase in the upcoming years.

Europe is expected to grow at the second-fastest CAGR of XX percent during the forecast period. The high consumption and production of mackerel in the region and the rising demand for frozen and ready-to-use mackerel products have contributed to the regional market growth.

Competitive Landscape:

The global mackerel market is highly fragmented, with many companies introducing new product lineups. Thai Union Group Public Company, Ocean Treasures World Foods Limited, Viet Ocean Seafood Vietnam and others are the major players in the global mackerel market. Etosha Fishing Company, a major player in the mackerel industry, launched two new Efuta Maasbanker products in July 2018, namely Efuta mince in tomato sauce and Efuta in curry sauce. According to the company, the other flavor, Efuta with tomato and chili sauce, was introduced in 2013 and has since sold over 4 million cans in Namibia, necessitating the introduction of other varieties to expand the brand.

COVID-19 Impact: Negative impact on the global mackerel market

The COVID-19 outbreak severely impacted the global mackerel market. The government imposed a state of emergency in various countries, preventing people from moving from one location to another. As a result, mackerel supply chains and distribution were interrupted, resulting in a market shortage. Nonetheless, the tightening of COVID-19 criteria will expand the market at a steady rate.

Why Purchase the Report?
• Understand the current market scenario and viability of global mackerel market over the forecast period
• Visualize the composition of the global mackerel market in terms of type, distribution channel and region to identify major players, growth potential, and market strategies
• Identify the key regulations prevailing in the market and understand their impact on the market over the forecast period
• Understand the key business factors such as market competition, product pricing, new product developments, and patent filings pertaining in the market

What we offer?
• PDF report with the most relevant analysis cogently put together after exhaustive qualitative interviews and in-depth market study
• Excel data sheet with valuable data points of the global mackerel market– Regional and Country level segmentation
• Product mapping in excel for the key products of all major market players
• Market Share Analysis covering business revenues ($) and revenue share (%) of key market players

The global mackerel market report would provide an access to approximately 53 market data tables, 41 figures and 180 pages.

Target Audience:
• Food & Beverages Companies
• Import and Export Companies
• Industry Investors
• Education & Research Institutes
• Research Professionals