Frozen Mackerel Market 2021 Strategic Analysis, Growth Drivers, Industry Trends, Demand And Future Opportunities Till 2031

 The global frozen mackerel market is expected to surpass US$ 1.05 Bn, growing at a 5.8% CAGR during the forecast period 2021-2031. The demand for frozen mackerel has been spurred during the pandemic, as consumers exhibited a higher inclination towards healthy eating, surging the sales by 5% between 2020 and 2021.

According to a study by the National Centre for Biotechnology Information, approximately 2% of anemic patients suffer from vitamin B12 deficiency, and 18% suffering from macrocystis showed vitamin B12 deficiency. Vitamin B12 deficiency is can also cause neurological damage, which makes it one of the most important nutrients for the human body.

Vitamin B12 deficiency is more common in the elderly population, regardless of the cause. Mackerel offers a range of health benefits such as vitamin B12, omega-3 fatty acids, and anti-inflammatory properties. The benefits derived from mackerel are driving the sales in the market.

Frozen fish and seafood are gaining high popularity in the foodservice sector due to their longer shelf life (18-24 months), and consistent yearly high quality. Freezing fish and seafood also ensures sustainability, allowing optimized usage by reducing wastage by around 25%.

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Additionally, frozen mackerel is subjected to extensive microbiological testing to ensure safety and avoid contamination. These factors are augmenting the market growth and will have a positive impact on sales throughout the forecast period, finds ESOMAR-certified consulting firm FMI in this study.

The COVID-19 outbreak has a significant impact on the frozen mackerel market, due to the restrictions affecting the short-term demand. However, with relaxations in 2021, and improvements in the supply chain, the market is anticipated to witness a speedy recovery, which will propel the sales throughout the forecast period.

As per this study by FMI, North America will continue to dominate the frozen mackerel market during the forecast period, which is attributable to growing concerns about health in a fast-paced lifestyle in the region.

“Owing to the health benefits derived by mackerel, along with easy availability and longer shelf life will drive sales in the food sector, pharmaceutical industry, animal feed, and other domains,” remarks an FMI analyst.

Key Takeaways

• In terms of species, horse mackerel is dominating the market, accounting for more than 55% of the market share.
• Aquaculture is the fastest-growing segment in terms of source and is anticipated to rise at 6.4% CAGR.
• North America will offer lucrative opportunities to producers in the frozen mackerel market, accounting for over 62.4% of the market share in the region.
• The China market is expected to grow at a CAGR of 3.7%, owning to selective breeding of mackerel and being among the largest producers in the world.
• Indonesia will dominate the South Asia frozen mackerel, with a market share of more than 24%.