USD 1042.92 million
Mackerel Market Size, Share, Growth Analysis, By Form(Frozen and Canned), By Distribution Channel(Supermarkets/Hypermarkets, Convenience Stores, Online and Others), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG30I2307 |
Region:
Global |
Published Date: April, 2024
Pages:
198
|Tables:
61
|Figures:
75
Mackerel Market Insights
Global Mackerel Market size was valued at USD 1042.92 million in 2022 and is poised to grow from USD 1086.72 million in 2023 to USD 1510.29 million by 2031, growing at a CAGR of 4.20% during the forecast period (2024-2031).
A big population's increasing demand for high protein, healthy meals result in an increase in mackerel consumption, which is anticipated to fuel market expansion during the course of the projected period. The government imposed a state of lockdown in a number of nations around the world as a result of the COVID-19 outbreak. As a required precaution to stop SARS-CoV-2 from spreading further, people worldwide were urged to remain at home.
The primary driver promoting the growth of the global mackerel market is growing consumer awareness of the health benefits. Another factor that has been beneficial to the growth of this market is the increased need for consumers to consume these goods due to their rich sources of protein, fatty acids, and vitamin B-12. Further, it is anticipated that the mackerel industry will expand significantly in the years to come as consumers grow more cognizant of the health benefits of fish, such as immunity boosters and increases in bone strength, heart health, and cognitive health.
New mackerel products are increasingly being developed and launched. Market growth is anticipated to be driven by the introduction of such novel and cutting-edge mackerel products, which increase customer awareness and increase availability. In addition, the increasing use of mackerel in a variety of products, such as its inclusion in pet food to boost its nutritional content, is boosting its uptake and accelerating the growth of the market all over the forecast period.
Due to the main companies' growing investments in the launch of new products, the industry's sales are anticipated to rise. In addition, key industry players are creating networks with various distributors to broaden their reach and develop a larger consumer base in response to the growing demand for mackerel. The lack of mackerel in some regions, however, is impeding the industry's growth. Additionally, it is projected that the market's growth will be restrained by the increasing acceptance of veganism by a growing number of people across the world. In addition, the installation of strict rules for mackerel production and catch yield are going to hinder market growth during the forecast period. The absence of cold supply chains and logistics is also expected to be a substantial challenge for the global mackerel market.
US Mackerel Market is poised to grow at a sustainable CAGR for the next forecast year.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Supermarkets/Hypermarkets
Fastest Growth
Supermarkets/Hypermarkets
Growth Rate
4.20% CAGR
Global Mackerel Market 2021-2030 ($ Bn)
Country Share for Asia Pacific Region- 2021 (%)
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Mackerel Market Segmental Analysis
The global mackerel Market is segmented based on form, distribution channel, and region. In terms of form, the market is segmented into frozen, and canned. With respect to distribution channels, the market is classified into supermarkets/hypermarkets, convenience stores, online, and others. Based on region, the global Mackerel Market is segmented into North America, Europe, Asia-Pacific, South America, and MEA.
Global Mackerel Market By Distribution Channel 2021 (%)
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Mackerel Market Regional Insights
Asia Pacific held the largest industry share of more than 65% in 2022 since it accounts for the majority of fish harvesting and aquaculture. The popularity of mackerel has increased in developing countries due to its numerous health benefits at low costs. Additionally, the region's expansive coastline regions and expanding population support fish cultivation and fishing. These factors may contribute to an expansion of the market in this area during the coming few years.
Latin America is anticipated to witness significant growth during the projection period. Due to the region's rising mackerel consumption, the category is predicted to grow at a 5.5% rate during 2023 and 2030. This is driven by the rising demand for omega-3 fatty acids and the drive for better diets. The consumption of mackerel in this region has also increased significantly.
Global Mackerel Market By Geography, 2021-2030
- Largest
- Fastest
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Mackerel Market Dynamics
Mackerel Market Drivers
Growing Demand from Food Industry
- The food industry is a major consumer of mackerel, which is used in the preparation of various dishes, including sushi, canned fish, and fish oil. The increasing demand for processed fish products is expected to drive the growth of the mackerel market.
Mackerel Market Restraints
Competition from Other Fish Species
- The mackerel market faces stiff competition from other fish species, such as salmon and tuna, which also offer similar health benefits. This may limit the growth of the mackerel market, particularly in regions where these fish species are more popular.
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Mackerel Market Competitive Landscape
The global mackerel market is highly competitive in nature, with numerous players operating in the industry. These companies are involved in various activities such as fishing, processing, packaging, and distribution of mackerel products. They are continuously investing in research and development to introduce new products, and are expanding their distribution networks to reach new markets.
Mackerel Market Top Player’s Company Profiles
- Nippon Suisan Kaisha, Ltd.
- Pacific Andes International Holdings Limited
- Pesquera Exalmar S.A.A.
- Austevoll Seafood ASA
- Pescanova SA
- Thai Union Group Public Company Limited
- Lerøy Seafood Group ASA
- Marubeni Corporation
- Sanford Limited
- Friosur S.A.
- Pelagia AS
- Cooke Inc.
- Bumble Bee Foods, LLC
- Empresas AquaChile S.A.
- Royal Greenland A/S
- Amalgamated Fishing Co. Ltd.
- HAVFISK ASA
Mackerel Market Recent Developments
- In August 2021, the Scottish government announced a £1.5 million investment in the mackerel industry to help improve the sustainability of mackerel fishing and support the sector's growth.
- In June 2021, the Marine Stewardship Council (MSC) announced that the mackerel fishery in the Northeast Atlantic had been re-certified as sustainable, following a review of the fishery's management practices.
Mackerel Key Market Trends
- Growing demand for sustainable and traceable seafood: Consumers are increasingly concerned about the sustainability and traceability of the seafood they consume. As a result, there is a growing demand for mackerel products that are sustainably caught, certified by credible organizations like Marine Stewardship Council (MSC), and can be traced back to their source.
- Increasing popularity of value-added mackerel products: The demand for value-added mackerel products, such as canned mackerel, smoked mackerel, and mackerel filets, is on the rise. These products offer convenience and are often marketed as healthy and affordable options for consumers.
- Growing demand for mackerel in emerging markets: The demand for mackerel is increasing in emerging markets, particularly in Asia, where mackerel is a popular fish species. This is due to the increasing population, rising disposable incomes, and changing dietary habits of consumers in these regions.
- Increasing focus on product innovation and differentiation: To stand out in the competitive mackerel market, companies are investing in product innovation and differentiation. This includes the development of new mackerel-based products, such as ready-to-eat meals and snacks, and the use of innovative packaging solutions.
Mackerel Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates and Analyzes the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
According to our analysis, we found that the Mackerel market is the demand for consumption is therefore anticipated to grow over the coming years. A big population's increasing demand for high protein, healthy meals result in an increase in mackerel consumption, which is anticipated to fuel market expansion over the course of the projected period. The government imposed a state of lockdown in a number of nations around the world as a result of the COVID-19 outbreak.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 1042.92 million |
| Market size value in 2031 | USD 1510.29 million |
| Growth Rate | 4.20% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Million |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Mackerel Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Mackerel Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Mackerel Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Mackerel Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Mackerel Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Mackerel Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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