Mexico Fish Market Outlook
According to a new report by Expert Market Research titled, “Mexico Fish Market Size, Share, Analysis, Report and Forecast 2024-2032″, the Mexico fish market is projected to grow at a CAGR of 3.1% between 2024 and 2032. Aided by the increasing demand for healthy and sustainable protein sources, the market is expected to grow significantly by 2032.
Fish is a fundamental part of the Mexican diet, offering a rich source of protein, omega-3 fatty acids, and other essential nutrients. The market comprises a diverse range of species, including tuna, tilapia, shrimp, and sardines, available in various forms like fresh, frozen, canned, and processed. This variety caters to a wide range of culinary preferences and consumer needs in Mexico.
The Mexico fish market growth is largely driven by the increasing awareness among consumers about the health benefits of fish. With a rising focus on healthy eating, there is a growing demand for fish as a low-fat, high-protein food choice. Additionally, the expanding middle-class population, with higher disposable incomes, is increasingly able to afford diverse and high-quality fish products.
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Further driving the market is the growing trend of sustainable and responsible fishing practices in Mexico. The government and various organisations are actively promoting sustainable fishing to ensure the long-term viability of the fish stocks and the health of the marine ecosystems.
The Mexico fish market outlook is also influenced by the expanding food processing industry in the country. There is a growing demand for processed fish products, such as fish fillets, fishmeal, and fish oil, which are used in various food applications. This has led to increased investment in fishing and processing infrastructure, further propelling market growth.
In addition to domestic consumption, the export market plays a significant role in the growth of the Mexico fish industry. The country is a significant exporter of fish and seafood products, with the United States being one of the main markets. This export demand adds a substantial boost to the Mexico fish market demand.
There is potential for growth in aquaculture, which can supplement wild fish stocks and provide a more controlled environment for fish production. Additionally, there is scope for innovation in fish processing and packaging technologies, which can enhance product quality and shelf life.
The coastal regions of Mexico, such as Baja California, Veracruz, and Yucatan, are crucial to the fish market. These regions are not only significant production areas but also serve as hubs for innovation and development in fishing techniques and seafood processing.
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Mexico Fish Market Segmentation
The market can be divided based on fish type, product type, sector, distribution channel, and region.
Market Breakup by Fish Type
- Mahi-mahi (Dorado)
- Tuna
- Marlin
- Red Snapper
- Others
Market Breakup by Product Type
- Frozen
- Fresh
- Canned
- Others
Market Breakup by Sector
- Organised
- Unorganised
Market Breakup by Distribution Channel
- Institutional
- Retail
Market Breakup by Region
- Baja California
- Northern Mexico
- The Bajío
- Central Mexico
- Pacific Coast
- Yucatan Peninsula
Competitive Landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the Mexico fish market. Some of the major players explored in the report by Expert Market Research are as follows:
- TUNY (Grupo Marítimo Industrial SA de CV)
- SmartFish
- Mau Pacific
- PESMAR (Pescados y Mariscos del Caribe S.A. de C.V.)
- PINSA Comercial SA de CV
- LUIS CALVO SANZ S.A.
- Others
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