Frozen mackerel products are commonly available to consumers year-round. Frozen entrees and ready-to-eat microwavable meals are among the more popular options in the sector. According to a recent Future Market Insights report, the frozen mackerel market is set to surpass a valuation of US$ 1.8 Bn by the end of 2031, registering a healthy CAGR of over 5.5%.
Busy consumer lifestyle and focus on healthy eating are driving the demand for frozen products. They also offer superior convenience in cooking and consumption, which will remain the chief growth driver.
Consumers are exhibiting higher inclination for nutritious frozen food products. Mackerel fish is high in protein and is a good source of omega-3 fatty acids, among other nutritional properties. This, coupled with impressive shelf-stable properties of frozen mackerel, are driving their sales. Consequently, the demand for frozen mackerel is increasing across various sectors, including households, restaurants, cafes, and hotels.
Food service applications are among the fastest growing sales channels for frozen mackerel. Over 75% of seafood consumers, from millennials to baby boomers felt the need for consuming sustainable food. Owing to this, the demand for seafood derived from well-managed sources rather than oceans has grown.
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This indicates the readiness of the seafood consumers to accept the change of sources of their food, which also is reflected in their eating habits. Using frozen mackerel also helps restaurants in maintaining menu transparency, thereby aiding their growth. Spurred by these factors, frozen mackerel sales will continue rising through the course of the forecast period.
Key Takeaways from the Frozen Mackerel Market Study
- Horse mackerel will continue leading the market with a share of 55% in 2021. Their easier availability in larger stocks will aid expansion in this segment.
- Whole round mackerel products dominates as top-selling type. It will account with a share of 39% in the year 2021, driven by advantages in logistics and shelf life.
- Inclusion of mackerel in menus, rising disposable income, and increasing awareness about health benefits are driving sales in the U.S. frozen mackerel market. It is estimated to be valued US$ 35.6 Mn in the year 2021.
- China will a value share of 42.9% in East Asia market in 2021. However, it is expected to lose ground to Japan and South Korea in East Asia by the end of 2031.
- Thailand will hold over 30% of the South Asia market in 2021, reflecting growth at a CAGR of 6.4% through the end of the assessment period.
Organic Frozen Mackerel Gaining Traction
Increasing awareness regarding health and wellness is increasing scope for expansion across the globe. Consumers are becoming cautious about ingredients used as well as the source of ingredients in food products. The addition of chemicals or additives, has become a matter of concern as consumers are at wary of adverse reactions.
Consequently, they are exhibiting greater preference for natural and organic products. The production of organic frozen mackerel is limited. Products that are chemical-free, all natural, or organic are increasingly in demand, especially in the U.S. and Europe markets.
Organic and chemical-free mackerel is at new in the frozen product portfolio and is found to be beneficial for health. Driven by this, manufacturers are focusing on certifications to help gain the trust of consumers and offer greater transparency regarding ingredients used.
Who is Winning?
Frozen seafood products account for almost one third of all seafood consumed worldwide, with finfish accounting for slightly more than half of all fresh and frozen items. Players in the frozen mackerel market are striving to develop novel product offering for ready-to-cook frozen mackerel with products like skinless and boneless fillets of frozen mackerel.
Some of the leading companies offering Frozen Mackerel 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.L and other.
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