Mexico Fish Market Report and Forecast 2024-2032

Mexico Fish Market Report and Forecast 2024-2032

Mexico Fish Market Report and Forecast 2024-2032

Market Outlook

According to the report by Expert Market Research (EMR), the Mexico fish market reached a value of around USD 4.10 billion in 2023. Aided by the growing popularity of Mexican delicacies, the rising trend of the pescatarian diet, and the abundance of fishery resources in Mexico, the market is expected to register a CAGR of 3.1% in the forecast period of 2024-2032, to reach USD 5.43 billion by 2032.

The fisheries sector of Mexico contributes to the country's economy through commercial fishing, aquaculture, and seafood exports. Mexico ranks among the top fish and seafood producers globally, with key species including shrimp, tuna, sardines, and tilapia.

The Mexico fish market growth can be attributed to a combination of factors like increasing seafood consumption and the introduction of new fishing approaches. The country's extensive coastline and rich marine biodiversity provide fishery resources, offering a diverse array of species desired by seafood enthusiasts and culinary connoisseurs. From the bountiful waters of the Gulf of Mexico to the pristine Pacific shores, Mexico's coastal regions yield an abundance of fish and shellfish, including snapper, mahi-mahi, and lobster, prized for their freshness and quality.

The Mexico fish market is poised for continued growth and innovation, driven by evolving consumer preferences, technological advancements, and sustainability initiatives. As demand for seafood continues to rise both domestically and internationally, the country presents several opportunities for market players to capitalise on emerging trends and promote culinary excellence that define Mexican seafood culture, consequently driving up the Mexico fish market share.

Additionally, the rising trend towards a pescatarian diet is also driving up demand. Embracing a pescatarian diet comes with numerous health advantages due to its rich omega-3 fatty acids content, which helps in fighting against obesity, heart disease, diabetes, and cancer.

Furthermore, Mexican authorities have implemented public policies aimed at improving the quality of commercial aquaculture by increasing productivity in reservoirs and supporting rural aquaculture, creating profitable growth prospects for the market. The awareness regarding the crucial connections between health, food security, and seafood is growing in Mexico.

Meanwhile, the development of innovative products made from fish species with high nutritional and protein levels at affordable prices is boosting fish consumption in Mexico. The utilisation of advanced processing techniques to transform various fish species into different forms for use in dishes like fish fingers, sandwiches, salads, and croquettes is contributing to the expansion of the market.

As per the Mexico fish market analysis, a wide variety of marine delicacies, ranging from succulent shrimp to flavourful tuna, define Mexico's culinary heritage. Seafood holds a cherished place in Mexican cuisine that symbolise both tradition and innovation, and many restaurants in the region serve ceviche and grilled fish tacos.

The growing popularity of Mexican cuisine on the global stage has fuelled the demand for Mexican seafood products, driving export growth and expanding market opportunities for domestic fishers and exporters. As Mexican flavours continue to captivate international palates, the demand for authentic Mexican seafood experiences is expected to surge, creating new avenues for market expansion and culinary innovation.

Market Segmentation

The market can be divided based on fish type, product type, sector, distribution channel, and region.

Market Breakup by Fish Type

• Mahi-mahi (Dorado)
• Tuna
• Marlin
• Red Snapper
• Others

Market Breakup by Product Type

• Frozen
• Fresh
• Canned
• Others

Market Breakup by Sector

• Organised
• Unorganised

Market Breakup by Distribution Channel

• Institutional
• Retail

Market Breakup by Region

• Baja California
• Northern Mexico
• The Bajío
• Central Mexico
• Pacific Coast
• Yucatan Peninsula

Competitive Landscape

The EMR report looks into the market shares, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the Mexico fish market. Some of the major players explored in the report by Expert Market Research are as follows:

• TUNY (Grupo Marítimo Industrial SA de CV)
• SmartFish
• Mau Pacific
• PESMAR (Pescados y Mariscos del Caribe S.A. de C.V.)
• PINSA Comercial SA de CV
• LUIS CALVO SANZ S.A.
• Others

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*We at Expert Market Research always strive to provide you with the latest information. The numbers in the article are only indicative and may be different from the actual report.