In 2022, the global market for frozen mackerel was estimated to have reached a sum close to USD 1.11 billion. Mackerel will continue to thrive and be consumed across the world for a while thanks to the development of refrigeration, preservation, and other forms of storage.
Comparing the product to other fish, it is more affordable and, hence gaining traction. It is thus anticipated to have generated USD 2.14 billion by 2023, along with a CAGR of 6.1% from 2023 to 2033.
Growing consumer knowledge of the associated health advantages is the primary factor driving this market's rise. The abundance of fatty acids, protein, and vitamin B-12 in these goods has led to a rise in customer appetite for them during the course of the projected period for the frozen mackerel market. The frozen mackerel industry is expected to expand in the next years as people become more aware of the health advantages of fish, including immune system boosters and increases in heart health, bone strength, and cognitive health.
Frozen fish products are growing in popularity as a result of improved distribution infrastructure, which has helped the industry grow. It is projected that the market would grow in the near future due to factors including changing lifestyles and increased affordability. The demand for the product is anticipated to increase as consumers adopt sustainable fish farming practices and increase their intake of health-related products. The benefits this product provides, such as a lengthy shelf life and ease of preparation, are also projected to encourage market growth.
| Attribute | Details |
|---|---|
| Estimated Market Value (2022) | USD 1.11 billion |
| Expected Market Value (2023) | USD 1.18 billion |
| Projected Forecast Value (2033) | USD 2.14 billion |
| Anticipated Growth Rate (2023 to 2033) | 6.1% CAGR |
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From 2018 to 2022, the frozen mackerel sales grew at a CAGR of 4.8%, thanks to its excellent nutritional profile. Frozen mackerel market insights reveal that the market will expand at a CAGR of 6.1% during 2023 to 2033.
Mackerel is a rich source of omega-3 fatty acids, which offers a range of health benefits, including anti-inflammatory properties for the human body. Vitamin B12 is abundant in mackerel.
Vitamin B12 deficiency affects approximately 6% of the population in the United Kingdom and the United States, and this number jumps to 20% in the over-60 age group. The deficiency can cause anemia and neurological damage, making it one of the most important nutrients for human health. It is critical to guarantee adequate vitamin intake regardless of dietary inclination. A cooked mackerel filet delivers approximately 279% of the recommended daily intake. Mackerel is also a great source of protein, with a normal filet containing 20.8 grams.
Triglyceride levels can be reduced by eating mackerel. Health-conscious customers are increasingly displaying interest in mackerel. Concerns over unsustainable fishing practices will remain a matter of concern, even as manufacturers gradually take steps to incorporate sustainable business practices in their operations.
Health Benefits Associated with Frozen Fish is likely to Influence Mackerel Sales
Freezing fish and seafood ensures that they sustain the highest possible quality for year-round supply. Using frozen fish and seafood eliminates waste by allowing optimized usage, reducing wastage by around 25%.
Frozen fish are popular in the food service sector owing to a longer shelf life - usually 18 to 24 months in a commercial freezer - while also displaying consistently high quality throughout the year.
Microbiological activity, including bacteria that cause food poisoning and spoilage, is countered when fish is frozen. Frozen mackerel is subjected to extensive microbiological testing. These variables are likely to have a positive impact on the frozen mackerel market in the coming decade.
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Veganism to Pose Serious Threat to Frozen Mackerel Market
Growing awareness about animal welfare, coupled with increasing vegan population or number of people avoiding eating fish and meat will pose threat to the market. Several non-governmental organizations (NGOs) are striving to prevent animal exploitation. Millennials are actively involved in such efforts. Veganism is becoming mainstream, which is negatively impacting the frozen mackerel sales.
Regulatory authorities have declared strict rules on fishing of mackerel which is identified as key factor hampering production and sales. Estimated quotas for various mackerel stocks to avoid over exploitation of different species will limit the production and catch yield. Some regulatory bodies have also set standards for fishing months, which allows a limited time frame for processing. These rules and regulation are likely to hold back growth prospects in the near future.
Horse Mackerel will Gain Traction for its Easy Access
Among species, horse mackerel is the most preferred form and holds a dominant share of more than 57% in 2023. The segment is expected to grow at a CAGR of 5.8% over the forecast period. This can be attributed to the wider global spread of the species in the wild, and easier access for consumers.
Aquaculture will be Highly Preferred for the Frozen Mackerels
Aquaculture is the fastest growing segment. Frozen mackerel demand derived from aquaculture is expected to rise at a 6.5% CAGR from 2023 to 2033. The overall valuation of this category is expected to reach USD 848.7 million in the year 2033. Concerns over unsustainable fishing of wild stocks and low costs for high yield in controlled conditions will drive growth in this category.
Whole Round Frozen Mackerels is the Most Sought-after Segment
Among types, whole round is the most preferred form of frozen mackerel which held a dominant share of more than 42.7% in 2022 and is expected to grow at a CAGR of 5.6% over the forecast period. Consumer preference, and larger meat volumes will drive sales through the assessment period.
Online Retail is likely to Boom owing to its Convenience and Cost-effectiveness
Recent years have seen a relentless rise in online retail owing to the ever-rising consumer expectations for convenience, cost, and experience. Online retail is expected to grow at a 7.3% CAGR in the forecast period.
Smaller players in frozen mackerel market often promote the quality of the product to gain traction. They also offer customization as per consumer demand. Digital grocery platforms help in improving and optimizing supply chains, which is why they have become highly sought-after among market players.
Frozen Mackerel will be Used More for the Pet Feed
Pet food applications is the fastest growing segment. It is expected to rise at a CAGR of 8.3%, and is forecast to reach a valuation of USD 63.8 million in the year 2033. Pet owners are becoming cautious about pet health and diet, due to which the demand for organic and natural feed is increasing.
Moving to organic and natural food can reduce the risk of allergies. These feed offerings are free from chemical additives, toxic pesticides, and artificial components. Natural ingredients aid a pet’s immune system to battle all kinds of infections. Organic frozen mackerel helps to increase nutritional properties of pet food, which is likely to boost the demand of mackerel fish.
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Increasing Consumer Concerns Regarding Health and Lifestyle to Aid Growth
According to FMI, North America will continue to be one of the most attractive markets during the forecast period. According to the study, the United States is anticipated to account for over 65% of the North America market through 2033.
Increasing concerns about health and fast-paced lifestyles in Europe and North America are encouraging consumers to opt for seafood-related snacks on a regular basis. Traditional fish and chips shops are experiencing greater footfall on a daily basis, and this is anticipated to boost growth of the frozen mackerel market in the region, as the demand for seafood snacks is expected to increase over the forecast period.
These Products are Available all Throughout the Year and hence Gaining Traction
The GCC countries frozen mackerel market is expected to be valued at USD 78.2 million in the year 2023. Frozen mackerel is still widely available in GCC markets, aside from large producers such as Asian and African countries or large importers. Frozen mackerel is gaining popularity over other fish species in numerous locations throughout the world due to its year-round availability.
Nutritional value and lengthy shelf life (due to the fact that it is frozen), are key factors aiding the product towards slow but steady growth in retail store shelf space in most countries in the region.
Increasing Frozen Seafood Exports to Accelerate the Growth
According to the study, Russia is anticipated to account for over 21.2% of the Europe market through 2023. Fresh and frozen seafood products account for almost three-quarters of all seafood consumed worldwide, with finfish accounting for slightly more than half of all fresh and frozen items.
Frozen mackerel is used extensively in the food, medicine, and feed industries. Key manufacturers are concentrating on developing their network with distributors to reach a bigger consumer base owing to the high demand and scope for applications of frozen mackerel.
They are also concentrating on acquiring smaller firms, which will help them expand their distribution network and production capacity. The key players in this market include:
Some key developments initiated by the key players are:
| Attribute | Details |
|---|---|
| Growth Rate | CAGR of 6.1% from 2022 to 2032 |
| Market value in 2023 | USD 1.18 billion |
| Market value in 2033 | USD 2.14 billion |
| Base Year for Estimation | 2022 |
| Historical Data | 2018 to 2022 |
| Forecast Period | 2023 to 2033 |
| Quantitative Units | USD billion for value |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis |
| Segments Covered | Species, Source, Type, Sales Channel, Application, Region |
| Regions Covered | North America; Latin America; Europe; Asia Pacific; Middle East and Africa |
| Key Countries Profiled | United States, Canada, Mexico, Brazil, Germany, United Kingdom, France, Spain, Italy, Japan, China, Singapore, Thailand, Indonesia, Israel, GCC countries, South Africa, Australia, New Zealand |
| Key Companies Profiled | Ocean Treasure; Kihada Fisheries Co., Ltd; Seven Star Ocean Fisheries Limited; Pinetree Vietnam Company Limited; Subo International Holland; Oman Fisheries Co.S.A.O.G; LONGSHENG AQUATIC PRODUCTS CO. LTD; Lotana LV LTD; DAISUI CO. LTD; SARMA FISH S.A.R.L |
| Customization & Pricing | Available on Request |
The market is valued USD 1.18 billion in 2023.
Ocean Treasure, Kihada Fisheries Co., Ltd and Seven Star Ocean Fisheries Limited are key market players.
The market will reach USD 2.14 billion by 2033.
Increasing awareness about the benefits of frozen mackerel will drive sales.
The horse segment is likely to remain preferred through 2033.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033 5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Species 5.1. Horse 5.2. Pacific 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Source 6.1. Wild Catch 6.2. Aquaculture 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Type 7.1. Whole Round 7.2. HGT 7.3. Fillet 7.4. Others 8. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Sales Channel 8.1. Direct Sales 8.2. Retail Sales 8.2.1. Modern Trade 8.2.2. Convenience Stores 8.2.3. Specialty Food Stores 8.2.4. Wholesale Stores 8.2.5. Discount Stores 8.2.6. Online Retail 8.2.7. Others 9. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Application 9.1. Food Industry 9.2. Pharmaceutical Industry 9.3. Animal Feed 9.4. Pet Food 9.5. Food Service 9.6. Retail 10. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 10.1. North America 10.2. Latin America 10.3. Europe 10.4. Asia Pacific 10.5. MEA 11. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 12. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 13. Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 14. Asia Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 15. MEA Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 16. Key Countries Market Analysis 17. Market Structure Analysis 18. Competition Analysis 18.1. Ocean Treasure 18.2. Kihada Fisheries Co., Ltd 18.3. Seven Star Ocean Fisheries Limited 18.4. Pinetree Vietnam Company Limited 18.5. Subo International Holland 18.6. Oman Fisheries Co.S.A.O.G 18.7. LONGSHENG AQUATIC PRODUCTS CO.,LTD 18.8. Lotana LV LTD 18.9. DAISUI CO.,LTD 18.10. SARMA FISH S.A.R.L 19. Assumptions & Acronyms Used 20. Research Methodology
Food and Beverage
September 2023
REP-NF-243
315 pages
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Frozen Mackerel Market
