The frozen mackerel market has experienced significant growth due to increasing consumer demand for convenient, nutritious seafood. Mackerel, known for its high omega-3 fatty acid content, has gained popularity among health-conscious consumers and seafood enthusiasts. Freezing preserves its natural flavor and texture, making it a versatile option for cooking.
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The predicted value of the worldwide market for frozen mackerel in 2022 was close to USD 1.11 billion. Mackerel is expected to grow and be devoured across the world for some time due to advancements in refrigeration, conservation, and other types of storage. A CAGR of 6.1% from 2023 to 2033 and a revenue of USD 2.14 billion is expected to be generated by 2033.
Mackerel is a kind of fish that contains a variety of nutrients and has more than 30 different species. It may be discovered in both tropical and arctic waters. Fresh versions of these fish are normally eaten within a single day. As they only have a one-day shelf life, these foods are also pickled or even cured using vinegar and salt in many different nations, which results in their widespread sale for human food.
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 industry 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.
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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 industry 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.
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 industry 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
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.
More Valuable Insights Available
Future Market Insights offers an unbiased analysis of the global frozen mackerel market, providing historical data for 2018 to 2022 and forecast statistics from 2023 to 2033.
To understand opportunities in the frozen mackerel market, the market is segmented on the basis of frozen mackerel species (horse, pacific), source (wild catch, aquaculture), type (whole round, HGT, filet), sales channel (direct sales, retail sales), application (food industry, pharmaceutical industry, animal feed, pet food, food service, retail) and across five major regions (North America, Latin America, Europe, Asia Pacific and Middle East & Africa).
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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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