Frozen mackerel products are commonly available to consumers year-round. Frozen entrees and ready-to-eat microwavable meals are among the more popular options in the sector. According to a recent Future Market Insights report, the frozen mackerel market is set to surpass a valuation of US$ 1.8 Bn by the end of 2031, registering a healthy CAGR of over 5.5%.
According Future Market Insights analysis, frozen mackerel market is set to expand at 5.8% CAGR between 2021 and 2031. COVID-19 spurred a surge in demand as consumers exhibited higher inclination for healthy eating.
The demand for frozen mackerel derived from aquaculture will continue rising, propelled by its high yield at low cost. Despite this, wild catch is expected to account for over 55% of frozen mackerel sourced by 2031.
Busy consumer lifestyle and focus on healthy eating are driving the demand for frozen products. They also offer superior convenience in cooking and consumption, which will remain the chief growth driver.
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Consumers are exhibiting higher inclination for nutritious frozen food products. Mackerel fish is high in protein and is a good source of omega-3 fatty acids, among other nutritional properties. This, coupled with impressive shelf-stable properties of frozen mackerel, are driving their sales. Consequently, the demand for frozen mackerel is increasing across various sectors, including households, restaurants, cafes, and hotels.
Food service applications are among the fastest growing sales channels for frozen mackerel. Over 75% of seafood consumers, from millennials to baby boomers felt the need for consuming sustainable food. Owing to this, the demand for seafood derived from well-managed sources rather than oceans has grown.
Frozen Mackerel Market by Category
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
- East Asia
- South Asia
- Oceania
- Middle East and Africa (MEA)
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Key Questions Answered in the Report?
- What is frozen mackerel market size?
Driven by sustainable fishing and consumer health concerns, the global frozen mackerel market is likely to value US$ 1,054.1 Mn in 2021 and it is expected to reach US$ 1,858.0 Mn in 2031.
- At what rate did the frozen mackerel market expand in the last five years?
According to FMI’s analysis, frozen mackerel sales have grown at 4.4% CAGR between 2016 and 2020.The market’s valuation stood at over US$ 1 Bn in 2020.
- What are the key trends shaping the frozen mackerel market?
There is increasing focus on sustainable fishing and aquaculture in the market. Companies are currently focusing on the logistics for frozen foods. Besides this, marketing efforts and different cuts and flavorings are gaining traction.
- What are the key factors driving frozen mackerel market demand?
Key factors fuelling the demand for frozen mackerel include better yield from selective breeding programs, increasing consumption of protein-based food products, and health benefits associated with consumption of mackerel.
- What is the North America frozen mackerel market outlook?
Demand in North America will continue to rise, backed by increasing sales in the U.S. and Canada. As per FMI, North America market will rise at 3.2% between 2021 and 2031.
- What is the cumulative share of top five companies in the frozen mackerel market?
According to FMI analysis, over 5% of the market share is covered by Ocean Treasure, Kihada Fisheries Co., Ltd, Subo International Holland, Seven Star Ocean Fisheries Limited, and Pinetree Vietnam Company Limited.
- At what rate will frozen mackerel sales increase in Europe?
Europe is expected to account more than 18.6% of the global frozen mackerel market in 2031. The Europe market is expected to expand at 6.3% CAGR.
- Which are the top frozen mackerel consuming countries?
China, Japan, South Korea, Thailand, and Indonesia have emerged as leading frozen mackerel consuming countries.
- Which are the key exporting countries of frozen mackerel?
China, Japan, Norway, Denmark, and Mauritania are the key exporters of frozen mackerel.
- What are the key statistics for frozen mackerel market in Japan and South Korea?
Japan and South Korea are estimated to hold a market value share of 35.3% and 21.8% respectively of the East Asia market in 2021.