Mexico Fish Market Report and Forecast 2024-2032

Mexico Fish Market Outlook

The Mexico fish market size reached approximately USD 4.10 billion in 2023. The market is further projected to grow at a CAGR of 3.1% between 2024 and 2032, reaching a value of USD 5.43 billion by 2032.

Key Trends in the Market

Fishes are aquatic vertebrates that lack limbs with digits such as toes and fingers but have gills and fins. They are filled with vitamins B2 and D and omega-3 fatty acids and are also a great source of phosphorus, calcium, and minerals, including potassium, zinc, magnesium, iron, and iodine.

• The increasing shift towards pescatarian diet is boosting the Mexico fish market demand. Adoption of pescatarian diet offers various health benefits as it contains high levels of omega-3 fatty acids that aid in combating obesity, heart diseases, diabetes, and cancer.

• Introduction of public policies by Mexican administrations to enhance the quality of commercial aquaculture by bolstering productivity in reservoirs and support rural aquaculture is providing lucrative growth opportunities to the market. The awareness about the importance of links between health, food security, and seafood is increasing in Mexico.

• Innovation of restructured products developed from fish species that have high nutritional and protein content and low prices is bolstering the fish consumption in Mexico. The adoption of novel industrial processing to convert different fishes in various shapes for usage in dishes such as fish fingers, sandwiches, salads, and croquettes, among others is supporting the market expansion.

Mexico Fish Market Analysis

On the basis of fish type, the market is divided into mahi-mahi (dorado), tuna, marlin, and red snapper, among others. Based on product type, the market is segregated into frozen, fresh, and canned, among others. On the basis of sector, the market is classified into organised and unorganised.

Based on distribution channel, the market is bifurcated into institutional and retail. On the basis of region, the Mexico fish market segmentation includes Baja California, Northern Mexico, The Bajío, Central Mexico, Pacific Coast, and Yucatan Peninsula.

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the market, covering their competitive landscape and latest developments like mergers, acquisitions, investments, and expansion plans.

• 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

Market Share by Fish Type

Tuna is anticipated to account for a significant Mexico fish market share owing to the meaty flavour, abundance, and high nutritional value of tuna. The fish is an excellent source of vitamin B12, the vitamin essential for making DNA and aiding the formation of new red blood cells for preventing the development of anaemia. The high omega-3 fatty acid content of the fish helps in reducing of LDL cholesterol accumulated inside the arteries of the heart, lowering the risk of heart diseases.

Market Share by Type

Frozen fish is anticipated to witness significant growing in the coming years. This growth can be attributed to the ability of the freezing techniques to ensure the quality of the product by sealing in the taste and the nutrients of the just caught fish. The convenience offered by frozen fishes is further propelling their requirement by the foodservice sector, aiding the Mexico fish market growth.

Competitive Landscape

Mau Pacific is involved in the processing, marketing, and import of sea foods. The company is dedicated towards selecting the highest quality of raw materials available for providing quality assured products to their customers. The company’s product portfolio includes tuna, salmon, and trout, among others.

PINSA Comercial SA de CV, headquartered in Mexico, is involved in the marketing and distribution of sardine products and frozen and canned tuna, among others. The company’s brand portfolio includes Dolores, Mazatun, and the Golden.

LUIS CALVO SANZ S.A. is a fish processing company that provides a wide range of seafood products including mussels, salmon, sardines, tuna, and squid, among others. The company is also dedicated towards sale and production of high-quality canned fishes.

Other Mexico fish market key players include TUNY (Grupo Marítimo Industrial SA de CV), SmartFish, and PESMAR (Pescados y Mariscos del Caribe S.A. de C.V.), among others.

Key Highlights of the Report