Mackerel Market Worth $1,371.6 Million By 2028 | CAGR: 4.7%

Mackerel Market Growth & Trends

The global mackerel market size is expected to reach USD 1,371.6 million by 2028, registering a CAGR of 4.7% during the forecast period, according to a new report by Grand View Research, Inc. This can be credited to its economical pricing coupled with various health benefits provided and rising demand in developing economies like China and India.

The COVID-19 pandemic had a significant negative impact on the global mackerel market. the lockdown was imposed across the various countries by the government and the movement of the population from one place to another was halted. As a result, supply chains and distribution of mackerel were disrupted, resulting in a shortage in the market. Nonetheless, the uplift in restrictions of COVID-19 guidelines will result in the growth of the market at a healthy pace.

Mackerel is gaining more popularity across the globe in the fish industry. Rising awareness among consumers regarding the health aids of mackerel in their diet is propelling the industry demand. Also, mackerel being economical to pocket and being health beneficial is gaining more traction around the world. Rising consumers' awareness concerning the benefits of omega-3 fatty acids in their diets as it helps in boosting brain development, reduces cholesterol and also decreases the risk of asthma and depression. All these factors are anticipated to boost mackerel market growth over the forecast period.

The product consists of high levels of fatty acids, which help in improving endurance and retaining healthy and glowing skin. Omega-3 is present in mackerel as marine fatty acids such as EPA (eicosapentaenoic acid) and DHA (docosahexaenoic acid), which help reduce and prevent cardiovascular disease development. Owing to all these health benefits, the industry is likely to propel during the forecast period.

The frozen form segment contributed to the highest share of around 55% of the global market revenue in 2021. Frozen forms are widely used in fish preservation. Freezing helps in making the product available round the year for consumption. Additionally, freezing of fish leads to the stoppage of all microbiological activities causing food spoilage and poisoning. Also, frozen seafood or fish have a high-level inspection of microbiological checks, thus making it pure and hygienic for consumption. Owing to all these factors, the growth of this segment is anticipated to boost over the coming years.

Asia Pacific holds the highest industry share of over 65% in 2021, owing to the majority of fish capture and aquaculture being done. The mackerel market has gained higher traction in developing countries, owing to multiple health benefits at an economical cost. Additionally, large coastal areas, along with the increasing population in this region, endorse fish cultivation and fishing. Owing to these factors, the growth of the market is anticipated to boost over the coming years in this region.

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Mackerel Market Report Highlights

• Central & South America is expected to register a 5.5% CAGR from 2022 to 2028, owing to rising consumption of mackerel due to multiple health benefits

• The canned form segment is expected to expand with the fastest CAGR of 5.0% during the forecast period from 2022 to 2028. The growth of the segment is attributed to the rising demand and consumption of preserved and packaged fish

• Europe is anticipated to expand at a second-fastest CAGR of 4.8% during the forecast period. The growth of the regional market is contributed to the high consumption and production of mackerel in the region coupled with increasing demand for frozen and ready-to-use mackerel products

• Hypermarkets and supermarkets' distribution channels held the largest share in 2021, contributing more than 40% of the total revenue due to the strong position of this segment in the fisheries industry

Mackerel Market Segmentation

Grand View Research has segmented the mackerel market based on form, distribution channel, and region.

Mackerel Form Outlook (Revenue, USD Million, 2017 - 2028)

• Frozen

• Canned

Mackerel Distribution Channel Outlook (Revenue, USD Million, 2017 - 2028)

• Hypermarkets and Supermarkets

• Convenience Store

• Online

• Others

Mackerel Regional Outlook (Revenue, USD Million, 2017 - 2028)

• North America

  • U.S.

• Europe

  • Germany

  • Norway

  • France

• Asia Pacific

  • China

  • India

• Central & South America

  • Chile

• Middle East & Africa

  • Egypt

List of Key Players of Mackerel Market

• Thai Union Group Public Company Ltd

• Siam Canadian Foods Co. Ltd

• Ocean Treasure World Foods Limited

• Pinetree Vietnam Company Limited

• Subo International Holland

• Viet Ocean Seafood Vietnam

• Ocean More Foods Co., Limited