Rise in demand for canned fish products and rise in awareness regarding health advantages of mackerel in boosting the immune system and improving the bone strength, heart health, and cognitive health drive the growth of the global canned mackerel market.
Allied Market Research published a research report on the global canned mackerel market. The findings of the report states that the global market for canned mackerel generated $771.7 million in 2021, and is expected to reach $1.5 billion by 2031, witnessing a CAGR of 6.5% from 2022 to 2031. The research provides a detailed analysis of changing market dynamics, key investment pockets, major segments, and competitive scenario for new entrants, market players, and investors.
Roshan Deshmukh, the Manager for Food and Beverages at Allied Market Research, stated, “The factors such as the rising popularity of ready-to-eat products, growing awareness about health benefits offered by canned mackerel, rising trade of mackerel, increased production of mackerel, and increased penetration of online shopping are driving the growth of the global canned mackerel market.”
The report provides a detailed analysis of drivers, restraints, and opportunities to assist market players in determining the useful strategies based on drivers and opportunities. Rise in demand for canned fish products and rise in awareness regarding health advantages of mackerel in boosting the immune system and improving the bone strength, heart health, and cognitive health drive the growth of the global canned mackerel market. Moreover, the surge in demand for ready-to-eat snack foods and the expansion of premium-quality canned mackerel into various regions globally are expected to present new opportunities in the coming years.
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The research offers a detailed analysis of the impact of the Covid-19 pandemic on the canned mackerel market across the globe. The canned mackerel market suffered losses during the Covid-19 pandemic, owing to lockdown restrictions that stopped production and processing of canned mackerel partially or completely. This resulted in a gap in supply-demand. In addition, disruptions in supply chain impacted the market. Strict restrictions on the global trade impacted the market negatively. However, surge in penetration of online channels and the growth of the e-commerce industry created a positive impact on the market. Increase in health consciousness during the pandemic led to rise in demand for canned mackerel. The market is expected to recover post-pandemic.
The report provides an extensive segmentation of the global canned mackerel market based on processing, application, distribution channel, and region. On the basis of processing, the oil segment held the largest share in 2021, accounting for more than half of the market share, and is projected to maintain its lead position during the forecast period. On the other hand, the sauce segment is projected to register the fastest CAGR of 7.1% from 2022 to 2031. Based on application, the commercial segment is projected to witness the largest CAGR of 7.0% during the forecast period. However, the household segment accounted for the highest share in 2021, accounting for around two-thirds of the market, and is projected to maintain its dominant share by 2031.
On the basis of distribution channel, the specialty store segment accounted for the highest market share in 2021, contributing to more than one-third of the market, and is estimated to maintain its lead status during the forecast period. However, the online sales channel segment is expected to manifest the highest CAGR of 7.3% throughout the forecast period. Based on region, Asia-Pacific held the largest share in 2021, accounting for more than one-third of the total share, and is estimated to continue its leadership in terms of revenue by 2031. In addition, this region is expected to portray the highest CAGR of 7.1% during the forecast period. The research also analyzes the regions including LAMEA and Europe.
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The report analyzes the leading players of the global canned mackerel market including American Fishing Family, Brunswick, Bolton Group, EC plaza network Inc., Diavena, Kumpulan Fima Berhad, FCF Co, Ltd., LDH (La Doria) Ltd., Marushin Canneries Malaysia, Maruha Nichiro corporation, Thai Union Group PCL, Mitsubhi Corporation, Universal Canning Inc., Tropical Food Manufacturing (Ningbo), and Xiamen Amoytop Import & Export Co., Ltd.
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