Mackerel Market
Mackerel Market Size, Forecast, Trend Analysis, By Distribution Channels (online, Hypermarket, Supermalls), By Type (frozen, canned), By Region - Global Market Insights 2022 to 2032
Analysis of Mackerel Market Covering 30 + Countries Including Analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
Mackerel Market Outlook (2022 to 2032)
Mackerel is witnessing significant popularity in the fish industry across the globe. The increasing awareness among people concerning the health benefits of fish in the diet, is fuelling the demand for the Mackerel market. Mackerel being beneficial for health and economical to the pocket is gaining significant traction across the globe.
The growing popularity of Mackerel in the fisheries market is majorly due to the ever-increasing perception of people to have healthy meals and protein-rich Mackerel in their diet. The market is going through radical changes due to the rise in the Total Allowable Catches (TAC) and fishing quotas across the world turning favorable for the global Mackerel market sales.
The global mackerel market at present is valued at USD 1042.92 Million in the year 2022. The market is further expected to surpass a valuation of USD1650.89 Million by end of 2032. The mackerel market is anticipated to grow with a CAGR of 4.7% in the forecast period.
Report Attributes |
Details |
---|---|
Market size (2022A) |
USD 1042.92 Million |
Base Year for Estimation |
2022 |
Forecast Duration for this Research |
2022-2032 |
Forecasted Market value (2032F) |
USD1650.89 Million |
Global Market Growth rate (2022-2032E) |
CAGR of 4.7% |
Key Companies Profiled |
|
Don't Need a Global Report?
save 40%! on Country & Region specific reports
What are the factors impelling the growth of the Mackerel market?
This fish type is rich in nutrients. This is largely distributed into both tropical and temperate region sea waters. The typical pattern of consuming this fish is in fresh form. These fish are also pickled with help of vinegar. This is widely consumed thus leading to more demand for mackerel.
The penetration of refrigerators accompanied by canning propels the perseverance of mackerel. The products are far more economical when compared with other fishes. This is expected to foster market growth in the forecast period.
The consumption of mackerel is a rich source of vitamin B-12 and proteins that have attributed to growth in the mackerel market. The rising consumer awareness about health and healthy eating habits and the benefits of fish in the diet is widespread and will boost growth in the mackerel market.
What are some Challenges in the mackerel market?
In the fisheries industries, products such as Mackerel acquire their spot in both developed and developing regions being economical and beneficial for health, hence, boosting the market growth. However, the unavailability of Mackerel in several areas is a factor hindering the market growth. It has gained demand in the market as customers are realizing the benefits of omega-3 fatty acids in their diet. It reduces cholesterol, boosts brain development, and decreases the risk of depression and asthma.
There are several regions that are potentially interesting to the market but are challenging due to the volatile trade restrictions that may get replaced at short notice. Along with the Mackerel, Nile perch, Tilapia, Pelagics, Salmon, and Tuna are also common among consumers, rendering significant competition to the market as substitutes.
The market prices for Atlantic Mackerel is high, so a majority of buyers are more inclined towards the more economic substitute, Pacific Mackerel. Moreover, there has been a considerable population that avoids Mackerel due to its strong smell and greasy nature. Such factors are of crucial concern and a challenge for the market.
More Insights, Lesser Cost (-50% off)
Insights on import/export production,
pricing analysis, and more – Only @ Fact.MR
Regional Insights
“Asia Pacific to lead the Mackerel Market”
The mackerel market is segmented on the basis of species type, catch type, form type, and region. By species type, the Mackerel market can be segmented as Atka Mackerel, King Mackerel, Spanish Mackerel, Atlantic Mackerel, Horse Mackerel, and Pacific Mackerel. Bycatch type, the market can be classified into, wild catch and aquaculture.
By form type, the market is categorized into, fresh whole Mackerel, frozen whole Mackerel, fresh Mackerel fillets, and frozen Mackerel fillets. The penetration of Pacific Mackerel in the fishing industry is significant due to its economical pricing and health benefits offered by the fish. Wild catch also dominates the market to avoid the side effects of antibiotics or pesticides.
“Developing economies to excel in market share”
The Mackerel market has been broadly divided into seven regions: North America, South America, Europe, CIS and Russia, Japan, APEJ and MEA. APEJ is anticipated to be the preeminent market in the global Mackerel market after Europe owing to the increasing population and coastal areas in the region promoting fishing and fish cultivation. The mackerel market is experiencing a massive shift due to the rising number of Total Allowable Catches (TAC) and fishing quotas across the world.
Australia and Iceland have raised their TAC for slimy mackerel by a stunning 450 percent and 14 percent, respectively. Nigeria also bears a significant market but is difficult because of the stringent trade restrictions. Norway is a significant exporter of Norwegian whole frozen Mackerel in the world but due to its high price majority of the population is shifting towards the more economical Pacific Mackerel or to other substitute fishes. Japan imports nearly 100,000 tons of Norwegian Mackerel per year although the amount of locally caught Mackerel is very high too.
Apart from APEJ, North America and Europe are also anticipated to manifest growth in the upcoming years in the Mackerel market. Some of the key market players in the Mackerel market are Generale Conserve SpA, Euclid Fish Company, Killybegs Seafood, Caley Fisheries Limited, John Nagle Co., Sinopesca Group, Toyota Tsusho Foods Corporation, Auckland Fish Market, and other prominent players.
Segment wise Insights
Frozen mackerel is dominant in sales at present which attribute about 55% of the share. Frozen forms are widely preferred in the storage of fish. The freezing methods help the products available all around in year for consumption. The freezing of mackerel prevents it from microbiological activities and poising. Owing to the increased scope of availability and perseverance is expected to increase growth in this segment in the future period.
The canned form of the mackerel segment is about to register the highest growth in the forecast period. The segment is expected to gain demand from the preservation and packaging of fish. The hermetic container makes it preserved in the longer term. These factors are associated to gain lucrative growth in the forecast duration.
Based on the distribution channels, the supermarket and hypermarket segment holds more than 38% of the market share in terms of revenues in 2021. The increasing demand for mackerel in the market is anticipated to give a descent growth to this segment. The rising no of hypermarkets is anticipated to grow in the forecast period.
Know thy Competitors
Competitive landscape highlights only certain players
Complete list available upon request
Competitive Landscape
The key industry companies are focused on the research and development of novel innovations to meet customer demand. The players are increasing their supply chain and distribution networks with the addition of online channels. With the expansion of business is driven by mergers and acquisitions, agreements, and the launch of new products.
- In 2021, a sea flower pelagic processing company formed a partnership in processing, catching, and marketing with competent holding.
- In august 2018, king Oscar launched a new line-up of mackerel.
Key Segments of Mackerel Industry Research
-
By distribution channel :
- Online
- Hypermarkets
- Supermalls
-
By type :
- Frozen
- Canned
-
By Region :
- North America
- Europe
- Asia Pacific
- Middle East and Africa
- FAQs -
What is the future market size projection for Mackerel Market?
The market is further expected to surpass a valuation of USD1650.89 Million by end of 2032.
What is anticipation given in the report regarding the CAGR of the Mackerel market?
The mackerel market is anticipated to grow with a CAGR of 4.7% in the forecast period.
What are the key statistics of the Mackerel Market in Australia and Iceland?
Australia and Iceland have raised their TAC for slimy mackerel by a stunning 450 percent and 14 percent, respectively.
What is the current market size of the mackerel arcade?
The global mackerel market at present is valued at USD 1042.92 Million in the year 2022.
Who are the key market players in Mackerel Market?
Some of the major players in the global market are Generale Conserve SpA, Euclid Fish Company, Killybegs Seafood, and Caley Fisheries Limited.