PUBLISHER: SkyQuest | PRODUCT CODE: 1463432
PUBLISHER: SkyQuest | PRODUCT CODE: 1463432
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).
The surging demand for high-protein, nutritious meals among a large populace drives an increase in mackerel consumption, expected to propel market expansion over the projected period. Concurrently, government-imposed lockdowns in response to the COVID-19 outbreak aimed to curb further spread of SARS-CoV-2 by urging people worldwide to stay at home as a precautionary measure. The growth of the global mackerel market is primarily fueled by rising consumer awareness of its health benefits, including its rich sources of protein, fatty acids, and vitamin B-12, with anticipation of significant industry expansion as consumers increasingly recognize fish's advantages such as immunity enhancement, bone strength, heart health, and cognitive well-being. Moreover, the introduction of innovative mackerel products and their inclusion in various goods, including pet food, is expected to boost market growth, facilitated by key companies' investments in new product launches and expanded distribution networks. Nevertheless, challenges such as regional mackerel scarcity, rising veganism, stringent production regulations, and inadequate cold supply chains pose obstacles to market growth during the forecast period.
Top-down and bottom-up approaches were used to estimate and validate the size of the Global Mackerel Market and to estimate the size of various other dependent submarkets. The research methodology used to estimate the market size includes the following details: The key players in the market were identified through secondary research, and their market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.
Global 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, Mackerel, online, and others. Based on region, the global Mackerel Market is segmented into North America, Europe, Asia-Pacific, South America, and MEA.
Drivers of the Global Mackerel Market
The mackerel market experiences significant demand from the food industry, where it serves as a vital ingredient for a diverse range of culinary creations such as sushi, canned fish, and fish oil. The escalating need for processed fish products is anticipated to propel the expansion of this market segment.
Restraints in the Global Mackerel Market
The mackerel market encounters strong competition from other fish varieties like salmon and tuna, which boast comparable health advantages. This could hinder mackerel market expansion, especially in areas where these alternative fish are favored.
Market Trends of the Global Mackerel Market
There's a rising consumer focus on the sustainability and traceability of seafood, particularly mackerel. This has led to an increased demand for mackerel products that are sustainably caught and certified by reputable organizations such as the Marine Stewardship Council (MSC), ensuring they can be traced back to their origin.