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The carp market share is expected to increase by USD 14.13 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 7.75%.
This carp market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers carp market segmentation by product (grass carp, silver carp, common carp, bighead carp, and other carps) and geography (APAC, North America, Europe, South America, and Middle East and Africa). The carp market report also offers information on several market vendors, including Baiyang Investment Group Inc., Dahu Aquaculture Co. Ltd., Lana Springs Fish Farm, OWEN AND WILLIAMS, Quintons Orchard Fish Farm, Shandong Homey Aquatic Development Co. Ltd., Shandong Oriental Ocean Group Ltd., VS Fisheries, Zhanjiang Guolian Aquatic Products Co. Ltd., and Zoneco Group Co. Ltd. among others.
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The growing awareness about the health benefits of carp is notably driving the carp market growth, although factors such as growing demand for substitutes like tuna, salmon, and other kinds of seafood may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the carp industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Carp Market Driver
One of the key factors driving the global carp market growth is the growing awareness about the health benefits of carp, especially in developing countries such as India, Bangladesh, Vietnam, and Indonesia. Carp contains proteins, iron, vitamin B12, and omega-3 fatty acids. Omega-3 fatty acids decrease the risk of heart failure, reduce blood clotting, lower triglycerides, maintain blood pressure, and help lower the inflammation in muscles by reducing free radicals produced due to vigorous exercise. In addition, government bodies are initiating various activities and events to increase awareness about the health benefits associated with the consumption of carp. For instance, in Poland, the Mister Carp Campaign was launched to promote the carp market in the country. Such factors will drive the market growth during the forecast period.
Key Carp Market Trend
Growth prospects in e-commerce is one of the key carp market trends that is expected to impact the industry positively during the forecast period. The increase in e-commerce sales can be attributed to the growing presence of prominent business-to-consumer (B2C) e-commerce platforms, such as Amazon, Walmart, JD.com, and Alibaba. Various vendors have also adopted digital strategies. For instance, Shandong Oriental Ocean Group, a prominent vendor in the market, offers carp through its online store yhd.com. In addition, the company offers its products on third-party e-commerce websites, such as JD.com. According to the data provided by the United Nations Conference on Trade and Development (UNCTAD), global e-commerce sales increased to USD 26.7 trillion in 2019, which was more than 4% from 2018. Online retail sales grew in several countries, with the Republic of Korea reporting the highest share at 25.9% in 2020, up from 20.8% in 2019. Such factors will further support the growth of the global carp market during the forecast period.
Key Carp Market Challenge
One of the key challenges to the global carp market growth is the growing demand for substitutes like tuna, salmon, and other kinds of seafood. For instance, the export and sales of tuna and salmon increased globally in 2021. Many consumers prefer processed seafood such as fillets, canned products, and other ready-to-cook products. In addition, carp is considered as an invasive species, and many consumers avoid it as food due to the presence of several bones in the meat. Moreover, the lack of innovation in carp products in comparison with other fish products such as tuna, salmon, and tilapia is expected to hinder the market growth during the forecast period.
This carp market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.
Technavio categorizes the global carp market as a part of the global packaged foods and meats market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the carp market during the forecast period.
The report analyzes the market's competitive landscape and offers information on several market vendors, including:
This statistical study of the carp market encompasses successful business strategies deployed by the key vendors. The carp market is concentrated and the vendors are deploying organic and inorganic growth strategies to compete in the market.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The carp market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Our report provides extensive information on the value chain analysis for the carp market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
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44% of the market's growth will originate from APAC during the forecast period. Canada, China, and India are the key markets for carp in APAC. Market growth in this region will be faster than the growth of the market in other regions.
An increase in population and the growing demand for affordable proteins will facilitate the carp market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID Impact and Recovery Analysis
In 2020, the COVID-19 pandemic had a negative impact on the regional carp market. The governments of countries such as China, India, and Bangladesh imposed nationwide lockdowns and COVID-related restrictions to curb the spread of the disease. As a result, the regional demand for freshwater fish and aquatic foods decreased from restaurants and hotels, as they were temporarily closed. However, in countries such as China, the government undertook several measures for the fisheries and aquaculture industry. For instance, in February 2020, the Ministry of Agriculture and Rural Affairs, the National Development and Reform Commission, and the Ministry of Transport of China jointly set up provisions for vendors in the fisheries and aquaculture industry. The consumer demand for packaged and frozen products, including frozen and canned carp, increased in H2 2020, as these products could be stored for long periods. As the regional market recovers from the negative impact of COVID-19, the regional demand for carp will rebound during the forecast period.
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The carp market share growth by the grass carp segment will be significant during the forecast period. The significant increase in the investments in the aquaculture of grass carp in developing countries such as China and India will facilitate market growth in the coming years.
This report provides an accurate prediction of the contribution of all the segments to the growth of the carp market size and actionable market insights on post COVID-19 impact on each segment.
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Carp Market Scope |
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Report Coverage |
Details |
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Page number |
120 |
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Base year |
2021 |
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Forecast period |
2022-2026 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 7.75% |
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Market growth 2022-2026 |
$ 14.13 billion |
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Market structure |
Concentrated |
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YoY growth (%) |
5.7 |
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Regional analysis |
APAC, North America, Europe, South America, and Middle East and Africa |
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Performing market contribution |
APAC at 44% |
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Key consumer countries |
US, Canada, China, India, and Germany |
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Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
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Key companies profiled |
Baiyang Investment Group Inc., Dahu Aquaculture Co. Ltd., Lana Springs Fish Farm, OWEN AND WILLIAMS, Quintons Orchard Fish Farm, Shandong Homey Aquatic Development Co. Ltd., Shandong Oriental Ocean Group Ltd., VS Fisheries, Zhanjiang Guolian Aquatic Products Co. Ltd., and Zoneco Group Co. Ltd. |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this report to meet your requirements. Get in touch
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by Product
6 Customer Landscape
7 Geographic Landscape
8 Drivers, Challenges, and Trends
9 Vendor Landscape
10 Vendor Analysis
11 Appendix
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