Mackerel Market size is expected to reach USD 1,371.6 million by 2028

 Mackerel Industry Overview

The global mackerel market size was valued at USD 996.1 million in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 4.7% from 2022 to 2028.

 

This can be credited to the rising demand for the product in the Asia Pacific. Mackerel is a rich source of omega-3 fatty acids, as they attribute largely to nutrient content. Thus, the demand for consumption is anticipated to rise over the coming years. The rising inclination of a large population toward healthy meals that are rich in protein leads to increased consumption of mackerel and is thus expected to drive market growth during the forecast period. The COVID-19 pandemic led to a situation of lockdown across various countries around the globe by the government. Citizens were asked to stay at home as a mandatory precautionary measure to restrict the further spread of SARS-CoV-2.

 

Gather more insights about the market drivers, restrains and growth of the Global Mackerel Market

 

The ongoing lockdown disrupted the supply chain of mackerel and the distribution of mackerel was halted. These disruptions and restrictions led to a shortfall in demand, negatively impacting the global market. However, with the lift up in restrictions on the supply chain and relaxation in guidelines by the government for COVID-19, the market is expected to snap back and is expected to grow at a healthy pace during the forecast period.

 

A type of fish that consists of various nutrients with more than 30 diverse species is known as mackerel. It can be found in both tropical seas as well temperate seas. These fish are typically consumed in a day in fresh form. However, they are also pickled or cured with the help of vinegar and salts across multiple countries as they have a one-day shelf life, thus leading to being sold widely for consumption. Furthermore, the emergence of refrigeration, canning, and other methods of preservation are enabling mackerel perseverance and making it available around the globe for a while. The product is more economical as compared to other fishes. All these factors are expected to boost market growth during the forecast period.

 

Increasing awareness among consumers about the health benefits associated is the prime factor driving the growth of this market. Additionally, rising demand for the consumption of these products owing to their rich source of vitamin B-12, fatty acids, and proteins has been directly enriching the growth of this market during the forecast period. Additionally, growing consumer awareness of the health benefits of fish, including immunity boosters, and increases in bone strength, heart, and cognitive health, is expected to boost the growth of the mackerel market in the years to come.

 

The development and launch of new mackerel products have been growing recently. The launch of such new and innovative mackerel products leads to its rising availability and growing awareness among the consumers, which is expected to drive the market. Moreover, the increasing application of mackerel in various forms, such as its usage in pet food to enhance its nutritional value, is increasing its adoption and further driving the market growth during the forecast period.

 

The growing investment by key players to launch new products is further anticipated to boost the industry sales. Moreover, key players operating in the market are developing networks with various distributors to enlarge their reach and gain a larger base of consumers due to the increasing demand for mackerel. However, the unavailability of mackerel in some regions is hampering the industry's growth. Furthermore, the growing popularity and adoption of veganism by an increasing number of people across the globe are expected to slow the market's growth. In addition, the imposition of stringent regulations for catch yield and production of mackerel is expected to hinder the market growth during the forecast period. Additionally, the lack of availability or absence of cold logistics and supply chain is expected to act as a major challenge for the global mackerel market.

 

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Key Companies Profile

Some prominent players in the global mackerel market include:

  • 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

 

Order a free sample PDF of Mackerel Market Intelligence Study, published by Grand View Research.

 

 

 

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