Singapore Mackerel Market: Import Trend Analysis
In the Singapore mackerel market, the import trend exhibited notable growth from 2023 to 2024, with a substantial increase of 41.27%. Furthermore, the compound annual growth rate (CAGR) for the period 2020-2024 stood at 8.92%. This surge in imports could be attributed to shifting consumer preferences towards healthier seafood options, indicating a potential demand shift in the market.
Singapore Export Potential Assessment For Mackerel Market (Values in USD Thousand)
Singapore Mackerel Market Synopsis
The Singapore mackerel market caters to consumers who appreciate this oily fish`s nutritional benefits and flavor. Mackerel is used in various culinary applications, including canning and smoking. Market players should emphasize responsible sourcing and product quality to meet consumer expectations for premium mackerel products.
Drivers of the Market
The growth of the Singapore mackerel market is driven by factors such as seafood preferences, culinary diversity, and demand for oily fish. Mackerel is valued for its rich flavor and nutritional benefits. Growth drivers include the demand for sustainably sourced and versatile mackerel products, innovations in mackerel fishing and processing, and applications in sushi, sashimi, and ready-to-cook meals. As consumers explore diverse culinary choices and prioritize healthy eating, the mackerel market is poised for growth, providing essential ingredients for seafood enthusiasts.
Challenges of the Market
The mackerel market in Singapore faces challenges concerning mackerel sourcing, seafood sustainability, and market competition. Mackerel is a popular seafood choice, and managing its supply chain while adhering to responsible fishing practices is crucial. Additionally, addressing concerns about mackerel stock conservation, overfishing, and adherence to sustainable seafood standards is important for market viability.
COVID-19 Impact on the Market
The mackerel market in Singapore navigated the COVID-19 pandemic with adaptability. While there were disruptions in some seafood supply chains, mackerel remained a popular choice for consumers seeking nutritious and versatile fish options. Suppliers adapted by ensuring mackerel availability and quality. The pandemic underscored the importance of convenient and budget-friendly seafood options for home cooking, influencing market strategies.
Key Players in the Market
Mackerel suppliers like Goh Joo Hin and Sin Hwa Dee Foodstuff Industries contribute to the Singapore mackerel market by providing a variety of mackerel products. They ensure the availability of this fish variety for consumers and the food industry.
Key Highlights of the Report:
- Singapore Mackerel Market Outlook
- Market Size of Singapore Mackerel Market, 2024
- Forecast of Singapore Mackerel Market, 2031
- Historical Data and Forecast of Singapore Mackerel Revenues & Volume for the Period 2021-2031
- Singapore Mackerel Market Trend Evolution
- Singapore Mackerel Market Drivers and Challenges
- Singapore Mackerel Price Trends
- Singapore Mackerel Porter's Five Forces
- Singapore Mackerel Industry Life Cycle
- Historical Data and Forecast of Singapore Mackerel Market Revenues & Volume By Type for the Period 2021-2031
- Historical Data and Forecast of Singapore Mackerel Market Revenues & Volume By Atka Mackerel for the Period 2021-2031
- Historical Data and Forecast of Singapore Mackerel Market Revenues & Volume By Spanish Mackerel for the Period 2021-2031
- Historical Data and Forecast of Singapore Mackerel Market Revenues & Volume By Horse Mackerel for the Period 2021-2031
- Historical Data and Forecast of Singapore Mackerel Market Revenues & Volume By King Mackerel for the Period 2021-2031
- Historical Data and Forecast of Singapore Mackerel Market Revenues & Volume By Atlantic Mackerel for the Period 2021-2031
- Historical Data and Forecast of Singapore Mackerel Market Revenues & Volume By Pacific Mackerel for the Period 2021-2031
- Historical Data and Forecast of Singapore Mackerel Market Revenues & Volume By Catch Type for the Period 2021-2031
- Historical Data and Forecast of Singapore Mackerel Market Revenues & Volume By Wild Catch for the Period 2021-2031
- Historical Data and Forecast of Singapore Mackerel Market Revenues & Volume By Aquaculture for the Period 2021-2031
- Historical Data and Forecast of Singapore Mackerel Market Revenues & Volume By Form for the Period 2021-2031
- Historical Data and Forecast of Singapore Mackerel Market Revenues & Volume By Fresh Mackerel for the Period 2021-2031
- Historical Data and Forecast of Singapore Mackerel Market Revenues & Volume By Frozen And Processed Mackerel for the Period 2021-2031
- Historical Data and Forecast of Singapore Mackerel Market Revenues & Volume By Fresh Mackerel Fillets for the Period 2021-2031
- Historical Data and Forecast of Singapore Mackerel Market Revenues & Volume By Frozen Mackerel Fillets for the Period 2021-2031
- Singapore Mackerel Import Export Trade Statistics
- Market Opportunity Assessment By Type
- Market Opportunity Assessment By Catch Type
- Market Opportunity Assessment By Form
- Singapore Mackerel Top Companies Market Share
- Singapore Mackerel Competitive Benchmarking By Technical and Operational Parameters
- Singapore Mackerel Company Profiles
- Singapore Mackerel Key Strategic Recommendations