Global Frozen Mackerel Market Overview
Frozen Mackerel Market Size was estimated at 5.43 (USD Billion) in 2022. The Frozen Mackerel Market Industry is expected to grow from 5.66(USD Billion) in 2023 to 8.2 (USD Billion) by 2032. The Frozen Mackerel Market CAGR (growth rate) is expected to be around 4.21% during the forecast period (2024 - 2032).
Key Frozen Mackerel Market Trends Highlighted
The Frozen Mackerel Market is driven by increasing consumer preferences for convenient and healthy food options, particularly in emerging markets. The rising demand for processed and ready-to-cook seafood, coupled with the growing popularity of healthy and sustainable diets, is fueling market growth. Additionally, the advancement of freezing and preservation technologies has enhanced the quality and shelf life of frozen mackerel, making it a more viable option for consumers.
Key opportunities in the market include the expansion of e-commerce platforms and the growing demand for frozen mackerel in the food service industry. To capture these opportunities, market players are investing in online sales channels and developing innovative packaging solutions. The increasing demand for sustainable seafood is also creating opportunities for the development of eco-friendly fishing and processing practices.
Recent trends in the market include the rise of value-added frozen mackerel products, such as marinated and breaded fillets. Consumers are increasingly seeking convenient and time-saving meal solutions, driving demand for these products. Additionally, the growing popularity of ethnic cuisines, particularly Asian and Mediterranean dishes, is increasing the demand for frozen mackerel as a key ingredient.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Frozen Mackerel Market Drivers
Increasing Health Consciousness and Demand for Omega-3 Fatty Acids
Consumers are becoming increasingly aware of the health benefits associated with omega-3 fatty acids, which are essential nutrients that play a vital role in various bodily functions. Frozen mackerel is a rich source of omega-3 fatty acids, particularly eicosapentaenoic acid (EPA) and docosahexaenoic acid (DHA). These fatty acids have been linked to a reduced risk of cardiovascular diseases, improved cognitive function, and reduced inflammation. As a result, the rising health consciousness among consumers is driving the demand for frozen mackerel, which is perceived as a healthy and convenient food option.
Growing Popularity of Convenience Foods
The tendency of fast lifestyles and change of customer principles are the main drivers for the popularity of convenience foods. Frozen mackerel is an example of such a product, as it is ready-to-cook and can be included in all types of dishes. The demand for fast and tasty meal solutions is increasing and frozen mackerel may appear a quick-and-convenient way of adding protein and useful fats to the menu. The convenience feature of the product is expected to be the driver for the further market increase in the nearest years.
Expansion of Retail and E-commerce Channels
The development of retail and e-commerce channels benefits the popularity of frozen mackerel, as it becomes more accessible to consumers. In particular, the number of modern retail formats, such as supermarkets and hypermarkets, is growing, and these points, as a rule, offer a range of frozen seafood products, including mackerel. In addition, the development of e-commerce platforms simplifies the buying procedure for consumers allowing them to purchase the frozen mackerel without living home and having it delivered to their door.Overall, the accessibility of frozen mackerel through the above-described channels enhances its demand among consumers, especially in such areas, where fresh seafood might be less available.
Frozen Mackerel Market Segment Insights
Frozen Mackerel Market Product Type Insights
The Frozen Mackerel Market, segmented by product type, comprises Frozen Whole Mackerel, Frozen Mackerel Fillets, and Frozen Mackerel Steaks. Frozen Whole Mackerel holds the dominant market share. In 2023, the Frozen Whole Mackerel segment was valued at 2.5 billion USD and is projected to reach 3.5 billion USD by 2032, exhibiting a CAGR of 4.1%. This dominance can be attributed to the lower cost and wider availability of whole mackerel compared to fillets and steaks. Frozen Mackerel Fillets, the second-largest segment, is gaining popularity due to its convenience and ease of preparation.The Frozen Mackerel Fillets segment was valued at 2 billion USD in 2023 and is expected to reach 2.8 billion USD by 2032, growing at a CAGR of 3.9%. Frozen Mackerel Steaks, the smallest segment, offers a premium eating experience and is often used in restaurants and high-end retail stores. The Frozen Mackerel Steaks segment was valued at 0.6 billion USD in 2023 and is projected to reach 0.9 billion USD by 2032, growing at a CAGR of 4.5%. The market growth for all product types is driven by factors such as increasing consumer demand for convenient and healthy seafood options, rising disposable income, and growing awareness of the health benefits of mackerel.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Frozen Mackerel Market Distribution Channel Insights
Hypermarkets/Supermarkets are anticipated to remain the predominant revenue contributors to the Global Frozen Mackerel market owning to their extensive product range and convenient shopping experience. By 2024 this channel is expected to capture over 45% of the market share. However, convenient stores are happening and are expected to witness the robust CAGR owning to their increasing urban penetration. Online Retailers, on the other hand, are expected to register significant growth since the E-commerce penetration level is on the rise with fabulous reliability and unfailing home delivery services.It is worth noting that Wholesale Distributors are indispensable in the frozen mackerel distribution due to the high proportion of the B2B sales to businesses like restaurants, hotels, and food processing industry.
Frozen Mackerel Market Processing Method Insights
The processing method segment of the Frozen Mackerel Market is classified into Glazed, Unglazed, and Individually Quick Frozen (IQF). Among these, the IQF segment held the largest market share in 2023, and it is expected to continue its dominance throughout the forecast period. The growing demand for convenient and value-added products is driving the growth of the IQF segment. IQF mackerel is individually frozen, which makes it easier to handle, store, and prepare. It is also less prone to freezer burn and has a longer shelf life compared to other processing methods.The glazed segment is expected to witness a steady growth rate during the forecast period. Glazing involves coating the mackerel with a thin layer of ice, which helps to preserve its quality and freshness. Unglazed mackerel is expected to hold a significant market share, as it is a more traditional and cost-effective processing method.
Frozen Mackerel Market Application Insights
The Frozen Mackerel Market segmentation by Application includes Food Processing Industry, Retail Sector, Household Consumption, and Pet Food Industry. The Food Processing Industry segment held the largest market share in 2023. The growth of this segment can be attributed to the increasing demand for frozen seafood products in the food processing industry. The Retail Sector segment is expected to grow at the highest CAGR during the forecast period. The growth of this segment can be attributed to the rising popularity of frozen seafood products in retail stores.The Household Consumption segment is also expected to grow at a steady pace during the forecast period. The growth of this segment can be attributed to the increasing demand for frozen seafood products for household consumption. The Pet Food Industry segment is expected to grow at a moderate pace during the forecast period. The growth of this segment can be attributed to the increasing demand for pet food products.
Frozen Mackerel Market Regional Insights
The regional segment of the Frozen Mackerel Market offers valuable insights into the market's geographical distribution and growth dynamics. North America holds a significant market share due to the high consumption of seafood and the presence of major fishing and processing industries. Europe is another key region, driven by a growing demand for convenience foods and healthy protein sources. APAC is projected to witness substantial growth in the coming years, owing to the increasing population and rising disposable income. South America and MEA also present opportunities for market expansion, with growing demand for frozen seafood and the development of local fisheries.In 2023, the Frozen Mackerel Market revenue in North America was valued at USD 1.25 billion, and it is projected to reach USD 1.6 billion by 2029, exhibiting a CAGR of 3.2%. Europe held a market value of USD 1.1 billion in 2023 and is expected to grow to USD 1.45 billion by 2029, with a CAGR of 2.9%. APAC is anticipated to grow from USD 1.6 billion in 2023 to USD 2.2 billion by 2029, registering a CAGR of 4.1%. These regional insights are crucial for market players to develop targeted strategies and capitalize on growth opportunities in specific geographies.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Frozen Mackerel Market Key Players And Competitive Insights
Major players in Frozen Mackerel Market are constantly innovating and expanding their product lines to meet the evolving needs of consumers. These leading Frozen Mackerel Market players are focusing on product development, strategic partnerships, and geographical expansion to strengthen their market positions. Furthermore, the industry has been witnessing a surge in mergers and acquisitions, as companies seek to consolidate their market share and expand their global footprint.A leading Frozen Mackerel Market player in the global market is Marel. The company offers a comprehensive range of frozen mackerel products, including whole mackerel, mackerel fillets, and mackerel steaks. Marel has a strong presence in Europe and North America and is expanding its reach into emerging markets. The company's commitment to quality and innovation has earned it a reputation for delivering high-quality frozen mackerel products to its customers.Another prominent player in the Frozen Mackerel Market is Seafreeze. The company specializes in the production and distribution of frozen seafood products, including mackerel. Seafreeze has a global presence with operations in Europe, Asia, and North America. The company's focus on sustainability and traceability has made it a preferred supplier to major retailers and foodservice operators worldwide. Seafreeze is continuously investing in research and development to improve its product offerings and meet the changing demands of the market.
Key Companies in the Frozen Mackerel Market Include
- Seafresh Group
- Labeyrie Fine Foods
- Hay's Seafood Ltd.
- Scanfish
- Food Union Group
- Quality Foods
- Sajo Oyang Fishery
- Nordsee German Seafood Group
- JAF Enterprises
- Empesur SA
- Interpeche (Iberconsa)
- Mitsui , Ltd.
- F Processing
- UK Fishery Limited
- Stahlwerk Hennigsdorf GmbH
Frozen Mackerel Market Industry Developments
The Frozen Mackerel Market is expected to reach USD 8.2 billion by 2032, growing at a CAGR of 4.21% from 2024 to 2032. Increasing demand for convenience foods and growing health consciousness among consumers are driving the growth of the frozen mackerel market. Additionally, advancements in freezing and packaging technologies have extended the shelf life of frozen mackerel, making it more accessible to consumers. The rising disposable income in developing countries and the growing popularity of online grocery shopping are further contributing to the market growth. Key players in the market are focusing on product innovation and expanding their distribution networks to cater to the growing demand for frozen mackerel.
Frozen Mackerel Market Segmentation Insights
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Frozen Mackerel Market Product Type Outlook
- Frozen Whole Mackerel
- Frozen Mackerel Fillets
- Frozen Mackerel Steaks
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Frozen Mackerel Market Distribution Channel Outlook
- Hypermarkets/Supermarkets
- Convenience Stores
- Online Retailers
- Wholesale Distributors
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Frozen Mackerel Market Processing Method Outlook
- Glazed
- Unglazed
- Individually Quick Frozen (IQF)
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Frozen Mackerel Market Application Outlook
- Food Processing Industry
- Retail Sector
- Household Consumption
- Pet Food Industry
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Frozen Mackerel Market Regional Outlook
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North America
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Europe
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South America
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Asia Pacific
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Middle East and Africa
| Report Attribute/Metric |
Details |
| Market Size 2022 |
5.43(USD Billion) |
| Market Size 2023 |
5.66(USD Billion) |
| Market Size 2032 |
8.2(USD Billion) |
| Compound Annual Growth Rate (CAGR) |
4.21% (2024 - 2032) |
| Report Coverage |
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Base Year |
2023 |
| Market Forecast Period |
2024 - 2032 |
| Historical Data |
2019 - 2023 |
| Market Forecast Units |
USD Billion |
| Key Companies Profiled |
Seafresh Group ,Labeyrie Fine Foods ,Hay's Seafood Ltd. ,Scanfish ,Food Union Group ,Quality Foods ,Sajo Oyang Fishery ,Nordsee German Seafood Group ,JAF Enterprises ,Empesur SA ,Interpeche (Iberconsa) ,Mitsui Co., Ltd. ,F Processing ,UK Fishery Limited ,Stahlwerk Hennigsdorf GmbH |
| Segments Covered |
Product Type ,Distribution Channel ,Processing Method ,Application ,Regional |
| Key Market Opportunities |
Increasing health consciousness Growing demand in emerging markets Expanding ecommerce platforms Rising popularity of readytoeat meals Innovations in packaging and preservation |
| Key Market Dynamics |
Increasing Health Awareness Rising Demand in AsiaPacific Growing Retail Sector Technological Advancements and Fluctuating Raw Material Prices |
| Countries Covered |
North America, Europe, APAC, South America, MEA |
Frequently Asked Questions (FAQ) :
The Frozen Mackerel Market is expected to reach USD 5.66 billion in 2023 and is projected to grow at a CAGR of 4.21% to reach USD 8.2 billion by 2032.
Asia-Pacific is expected to hold the largest market share in the Frozen Mackerel Market due to the increasing demand for seafood in countries such as China, Japan, and India.
The key growth drivers of the frozen mackerel market include rising consumer demand for seafood, growing population, increasing disposable income, and the expansion of the retail sector in emerging economies.
Frozen mackerel is primarily used in the food industry for the production of various dishes such as fish sticks, fish fingers, and canned fish. It is also used in the pet food industry and for the production of fish oil.
Major players in the frozen mackerel market include Nippon Suisan Kaisha, Ltd., Maruha Nichiro Corporation, Thai Union Group PCL, and Cooke Aquaculture Inc.
The frozen mackerel market is expected to grow at a CAGR of 4.21% from 2023 to 2032.
The frozen mackerel market faces challenges such as fluctuations in fish prices, competition from fresh and canned fish, and the impact of climate change on fish populations.
Opportunities for growth in the frozen mackerel market include the expansion of the retail sector in emerging economies, the rising popularity of online grocery shopping, and the development of new products and technologies.
Key trends in the frozen mackerel market include the increasing demand for sustainable seafood, the growing popularity of ready-to-eat meals, and the adoption of advanced packaging technologies.
The COVID-19 pandemic had a significant impact on the frozen mackerel market, leading to disruptions in supply chains, reduced demand from the foodservice industry, and increased demand for retail products.
