Mackerel Market Global Analysis & Forecast Report 2028

Mackerel Market Growth & Trends

The global mackerel market size is expected to reach USD 1,371.6 million by 2028, registering a CAGR of 4.7% during the forecast period, according to a new report by Grand View Research, Inc. This can be credited to its economical pricing coupled with various health benefits provided and rising demand in developing economies like China and India.

Mackerel Market Segmentation

Grand View Research has segmented the mackerel market based on form, distribution channel, and region.

Based on the Form Insights, the market is segmented into Frozen and Canned.

• The frozen form segment contributed to the highest share of around 55% of the global market revenue in 2021. Frozen forms are widely used in fish preservation. Freezing helps in making the product available round the year for consumption. Additionally, freezing of fish leads to the stoppage of all microbiological activities causing food spoilage and poisoning. Also, frozen seafood or fish have a high-level inspection of microbiological checks, thus making it pure and hygienic for consumption. Owing to all these factors, the growth of this segment is anticipated to boost over the coming years.
• The canned form segment will register the highest growth over the forecast period. The segment is growing at 5.0% from 2022 to 2028, owing to its growing demand for packaging and preservation of fish. This method of preservation involves combining fish with a hermetic container, like a can, and heating it to preserve its shape. Thus, these factors associated with the canned form are estimated to showcase lucrative growth during the forecast period.

Based on the Distribution Channel Insights, the market is segmented into Hypermarkets and Supermarkets, Convenience Store, Online, Others.

• Hypermarkets and supermarkets segment contributed a share of more than 40% of the global mackerel market revenue in 2021 due to increasing demand from this distribution channel. This segment has a strong position in this mackerel market. Rising demand for canned fish from hypermarkets and supermarkets is expected to drive the growth of this segment during the forecast period.
• The online distribution channel is the fastest-growing segment and is expected to witness significant gains during the forecast period. The segment is expected to grow at 6.1% from 2022 to 2028, owing to the increasing usage of this channel by the young population for purchasing activities. The online segment is gaining traction due to its numerous benefits, such as ease of product searches and a suitable shopping experience. Owing to this, the number of online shoppers is growing daily. All these factors are anticipated to propel the growth of this segment over the coming years.
• The convenience store segment is expected to grow at a significant CAGR of 4.1% during the forecast period. Easy accessibility of convenience stores as they are present in places that are easily approachable at nearby places results in their increased usage for buying products and thus driving the market. In addition, products in the convenience stores are easily available and provide easy access to them, which leads to riding access to convenience stores hence contributing to the market expansion during the forecast period. 

Mackerel Regional Outlook

• North America
• Europe
• Asia Pacific
• Central & South America
• Middle East and Africa (MEA)

Market Share Insights

• January 2021: Seaflower Pelagic Processing (SPP) formed a partnership with competent holders for the catching, processing, and marketing of annual catch quotas.
• August 2018: A new lineup of mackerel was launched by King Oscar in the canned form. It is rich in nutrition and has a mild taste.

Key Companies Profile & Market Share Insights

Key players are focusing on R&D and launching new innovative products to meet the increasing demand for mackerel. Furthermore, key players are investing in e-commerce to increase their profits by selling their products and focusing on online customers, along with the expansion of their presence in the market.

Some of the prominent players operating in the global mackerel market include,

• Thai Union Group Public Company Ltd
• Siam Canadian Foods Co. Ltd
• Ocean Treasure World Foods Limited
• Pinetree Vietnam Company Limited
• Subo International Holland
• Viet Ocean Seafood Vietnam
• Ocean More Foods Co., Limited

Order a free sample PDF of the Mackerel Market Intelligence Study, published by Grand View Research.