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

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.