This problem appears to occur when you’re importing a table definition that had been created with MyISAM but later was switched to InnoDB; the resulting ROW_FORMAT options appear to be invalid.
If you’re trying to import an exported database and encounter this problem, you can simply search and replace ROW_FORMAT=FIXED with nothing.
I used the following to do so really quickly:
sed -ie 's/ROW_FORMAT=FIXED//g' backup.sql
Problem solved! Thanks to jbrahy for pointing out that it was the ROW_FORMAT that was the problem.
EDIT: Updated to work for more platforms as per @seven’s suggestion
EDIT2: Also note, as per @Steen-Schütt, this may be a safer fix
sed -ie 's/ROW_FORMAT=FIXED/ROW_FORMAT=COMPACT/g' backup.sql