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Wednesday 29 April 2020

Mackerel Market Demand and Growth Analysis with Forecast up to 2027

Growing global consumption of mackerel is largely attributable to its nutrient content, especially the rich source of omega-3 fatty acids. Although the mackerel should be eaten in the day of capture, several regions around the world cured or pickled it with large amount of salts and vinegar, allowing it to be sold widely. In addition, emergence of canning, refrigeration, and other preservations methods enabled preservation of mackerel, making it economically important fish across the globe. Rise in the demand for canned fish products along with increasing consumption of these products for their high-quality protein, vitamin B12, and omega-3 fatty acids has been directly influencing the development of mackerel market.
Mackerel Market – Notable Developments
Bumble Bee Foods, LLC, Mowi ASA, Thai Union Group PCL, Maruha Nichiro Corporation, NISSUI, Generale Conserve SpA, Killybegs Seafood, John Nagle Co., Toyota Tsusho Foods Corporation, King Oscar, Euclid Fish Company, Caley Fisheries Limited, Sinopesca Group, Orkla Foods Norge, Auckland Fish Market, Etosha Fishing Company, Chicken of the Sea International, Crown Prince, and GuangDong GuangZhou Canned Foods are among the leading players in the mackerel market.
  • In November 2018, Orkla Foods Norge (merger of Rieber & Søn and Stabburet) collaborated with a packaging solutions company Ardagh Group to develop 60 different designs for Stabburet mackerel fillet product. Apart from the brand’s yellow background, each design will represent a different town or place, a way of life on Norway, or an aspect of people’s behavior.
  • In August 2018, King Oscar released a new lineup of canned mackerel which has mild taste and powerful punch of nutrition. The new mackerel fillet recipes include Mediterranean-style fillets with jalapeno peppers, skinless and boneless fillets in olive oil, and mackerel with olive oil and lemon.
  • In July 2018, Etosha Fishing Company, a key player in the mackerel market, introduced two new line of products in its Efuta Maasbanker range including Efuta mince in tomato sauce and Efuta in curry sauce. According to the company, the other flavor Efuta in tomato and chili sauce was first launched in 2013 and has so far sold over 4 million cans in Namibia, making it necessary to expand the brand by introducing new flavors.

Mackerel Market Dynamics
Rising consumer awareness regarding the health benefits of fish in their diet is considered to be a key factor impacting the growth of mackerel market. Mackerel is also gaining speedy momentum in fisheries market, owing to consumer inclination toward healthy meals including protein-rich mackerel diet, which in turn is expected to strengthen the market growth. With escalating number of health conscious population and fish benefits in increasing bone strength, boosting immunity and improving cognition and heart health, mackerel market is likely to earn high traction in the coming years. Further, consumers are becoming more aware of benefits of omega-3 fatty acids in their diet which will continue to favor growth of the mackerel market.

Online Sales Channel to Take Center Stage in Mackerel Market
Although brick and mortar stores account for a strong position in the mackerel market, rising demand for canned fish products across globe along with emerging trends of e-commerce business is foreseen to be highly impactful on the growth of mackerel market. Growing number of online shoppers on the account of convenient shopping experience and easy product searches in e-commerce sites has influenced key mackerel market players to sell their products online and increase their profitability. Increasing focus on online customers, venture into the new retail format, and product innovations are likely to create lucrative opportunities of players in the mackerel market.
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