The predicted value of the worldwide market for frozen mackerel in 2022 was close to US$ 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 US$ 2.14 billion is expected to be generated by 2033.
More than 30 different species of mackerel fish exist, and they are rich in various nutrients. It could be found in arctic and tropical waters. These fish are often consumed within a day after being fresh. These items are widely sold as human food since they have a one-day shelf life and are pickled or even cured using vinegar and salt in many different countries.
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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 primary driver of this market’s growth is consumers’ growing knowledge of the associated health benefits. Because these products are rich in protein, fatty acids, and vitamin B-12, there has also been a rise in consumer demand for them during the course of the forecast period. As consumers become more aware of the health benefits of fish, including immune system boosters and increases in bone strength, cardiovascular wellness, and cognitive health, it is projected that the frozen mackerel market will grow in the coming years.
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 market 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.” Nandini Roy Choudhury, Client Partner at Future Market Insights
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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 market 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.
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.
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Key Segments Profiled in the Global Frozen Mackerel Market
By Species:
- Horse
- Pacific
By Source:
- Wild Catch
- Aquaculture
By Type:
- Whole Round
- HGT
- Fillet
- Others (flap, etc.)
By Sales Channel:
- Direct Sales
- Retail Sales
- Modern Trade
- Convenience Stores
- Specialty Food Stores
- Wholesale Stores
- Discount Stores
- Online Retail
- Other Retail Formats
By Application:
- Food Industry
- Pharmaceutical Industry
- Animal Feed
- Pet Food
- Food Service
- Retail
By Region:
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East and Africa
About Future Market Insights (FMI)
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 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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