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The squid market size is forecast to increase by USD 2.85 billion at a CAGR of 4.63% between 2023 and 2028. The market is experiencing significant growth due to several key factors. In developed countries, the increasing preference for sushi and squid dishes, driven by their health benefits, is fueling market expansion. Squid is rich in heart-healthy omega-3 fatty acids, particularly docosahexaenoic acid (DHA), making it a popular choice for health-conscious consumers. Moreover, the emergence of sustainable aquaculture practices is addressing concerns over health risks associated with mercury levels in seafood. However, allergies, including shellfish allergy, pose a challenge to market growth. Mercury poisoning is another concern, although the risk is generally lower for squid compared to other large predatory fish. To cater to the growing vegan population, plant-based alternatives to squid are gaining traction, adding another dimension to market trends.
Squid, a popular type of calamari, holds a significant position in the seafood market due to its unique taste and nutritional value. This cephalopod is often fried, chopped, or breaded, making it a versatile ingredient for various dishes. In this article, we will explore the health benefits of squid, its nutritional profile, and preparation methods, while also addressing potential health risks and considerations. Nutritional Profile: Squid is an excellent source of protein, providing approximately 15 grams per 100 grams. It is also rich in omega-3 fatty acids, particularly docosahexaenoic acid (DHA), which contributes to heart health and brain development.
However, the squid is low in calories, with about 120 calories per 100 grams, making it a suitable choice for those watching their caloric intake. Health Benefits: Consuming squid offers several health benefits. Its high protein content supports muscle growth and repair. Omega-3 fatty acids, such as DHA, contribute to heart health and brain development. Additionally, squid is rich in vitamin C, which aids in immune function, and iron, essential for producing red blood cells. Calcium is another essential mineral found in squid, contributing to bone health. Health Considerations: While squid is generally considered a healthy food choice, it is essential to be aware of potential health risks.
Moreover, the mercury levels in squid can vary depending on the species and location. Pregnant women and those planning to become pregnant should limit their intake to ensure a healthy pregnancy. Individuals with shellfish allergies may be allergic to squid as it is a type of mollusk. Consuming undercooked squid can also pose a risk of mercury poisoning. Preparation and Serving Size: Squid can be prepared in various ways, including frying, chopping, or breading. A standard serving size is around 100 grams, providing approximately 15 grams of protein and 120 calories. Squid ink, derived from the squid's body, has antimicrobial properties and is used in some culinary applications.
In conclusion, squid is a nutritious and versatile seafood option, offering various health benefits. Its high protein content, omega-3 fatty acids, and essential vitamins and minerals make it a valuable addition to a balanced diet. However, it is crucial to consider potential health risks, such as mercury levels and allergies, and ensure proper preparation to maximize its benefits.
The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD billion" for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.
The fresh segment is estimated to witness significant growth during the forecast period. The market experienced notable growth in the fresh segment in 2023, driven by the rising preference for squid as a protein-rich alternative to traditional meat sources. The health benefits associated with squid consumption are fueling this trend, as it bolsters the immune system and provides essential vitamins like B12 and B6, which contribute to heart health and stroke prevention. Selenium and vitamin E are also present in squid, adding to its antioxidant properties. The increasing number of seafood consumers, coupled with their growing awareness of squid's health advantages, is further propelling the market's expansion. The antimicrobial properties and potential anticancer effects of squid ink are also under investigation, offering additional potential growth opportunities for the market.
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The fresh segment was valued at USD 3.90 billion in 2018 and showed a gradual increase during the forecast period.
APAC is estimated to contribute 45% to the growth of the global market during the forecast period. Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
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The Asia Pacific region is witnessing a swell in demand for squid products due to the expanding retail sector, rising consumer preferences for sushi and other squid-based dishes, and increasing purchasing power. According to the Food and Agriculture Organization, the volume of squid landed in China's primary hub, Zhoushan, experienced a significant increase in 2021, with over 190,000 tonnes harvested by 214 vessels operating in the Southwest Atlantic and East Pacific during the first half of the year. This represents a 61% increase compared to the same period in 2020. Squid, with its distinct flavor and delicate meat, is a popular seafood choice in the region. Moreover, its chewy texture and nutrient-rich properties make it a sought-after ingredient for various culinary applications. Deep-fried squid with spices is a favorite dish in many Asian countries. Cuttlefish, another type of cephalopod, is also gaining popularity due to its similar taste and texture. The skeleton of squid and cuttlefish is often used in the production of agar-agar, a gelatin-like substance used in food and pharmaceutical industries. The increasing demand for seafood and the growing popularity of Asian cuisine globally are expected to drive the market's expansion.
Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
The growing popularity of sushi and squid-based dishes in developed countries is the key driver of the market. The market is experiencing growth due to the increasing preference for seafood dishes, particularly sushi, which features squid as a key ingredient. Sushi's popularity extends beyond Japan and is now a staple in various restaurants and food service establishments worldwide. Factors such as an increase in disposable income and shifting consumer food preferences contribute to the rising popularity of sushi in developed countries like the US, Canada, and South Korea. Squid is often fried, chopped, or breaded and added to sushi rolls or served as calamari. This seafood is rich in protein and omega-3 fatty acids, making it a nutritious choice for health-conscious consumers. With sushi restaurants becoming a go-to dining destination for Millennials due to their accessibility, affordability, and extensive menus, the demand for squid is expected to continue growing.
The emergence of sustainable aquaculture practices is the upcoming trend in the market. The market has experienced significant growth due to the rising consumer interest in heart-healthy foods and the nutritional benefits of Docosahexaenoic acid (DHA), which is abundant in squid. Aquaculture, the farming of various fish species and aquatic plants for food has played a pivotal role in meeting the increasing demand for squid. Major producers, including Thailand, Spain, Taiwan, China, Japan, Vietnam, and Ecuador, have intensified their efforts to expand squid production through this method. Moreover, retailers in the market are exploring sustainable fishing practices to mitigate health risks associated with mercury levels in seafood. Allergies, such as shellfish allergy, pose another challenge to the industry.
Moreover, mercury poisoning is a concern for consumers, leading to a growing demand for mercury-free and sustainably sourced squid. By focusing on these issues, the market is expected to continue its growth trajectory. In conclusion, the market is driven by the health benefits of DHA and the increasing consumer preference for seafood. Aquaculture plays a crucial role in meeting the demand for squid while addressing sustainability concerns. Retailers are also working to ensure the availability of mercury-free and sustainably sourced squid to cater to health-conscious consumers.
The growing popularity of vegan seafood is a key challenge affecting the market growth. Vegan diets, which exclude animal products, have gained popularity due to increasing consumer awareness of their health benefits. These diets offer an abundance of fiber, antioxidants, and beneficial plant compounds. They are also rich sources of essential nutrients such as potassium, magnesium, folate, and vitamins A, C, and E. The health advantages of vegan diets extend to improved kidney function and reduced blood sugar levels. Moreover, these diets significantly lower the risk of heart disease. With people seeking healthier alternatives to traditional diets, the demand for vegan substitutes for animal-derived foods, including seafood, is on the rise. This trend is driven not only by health concerns but also by global issues, such as climate change, overfishing, and the presence of microplastics in oceans and fish species, which make the seafood industry unsustainable. As a result, the vegan seafood market is experiencing substantial growth.
The market forecasting report includes the adoption lifecycle of the market, covering from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.
Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Aksha Fish Meal And Oil Co. - The company offers squid products, such as squid liver paste and squid liver powder, which are made from fresh squid and cuttlefish offals and fresh peeling waste.
The market research and growth report includes detailed analyses of the competitive landscape of the market and information about key companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
Squid, a popular type of seafood, is known for its distinct flavor and delicate meat. It is often prepared in various ways, including fried, chopped, and breaded, making it a versatile ingredient in various dishes. Squid is rich in nutrition and offers numerous health benefits. It is an excellent source of protein, omega-3 fatty acids, and other essential nutrients. Omega-3 fatty acids, particularly docosahexaenoic acid (DHA), are essential for heart health and contribute to the development of the brain and eyes during pregnancy. However, it is important to note that squid contains mercury levels, which can pose health risks, especially for pregnant women and young children.
Moreover, people with shellfish allergies should also exercise caution as squid is a type of mollusk. Squid is a low-calorie food, making it an ideal choice for those watching their weight. It is also rich in vitamin C, iron, calcium, and fiber. The antimicrobial properties and anticancer effects of squid have been studied extensively, and it is believed to boost immunity and help fight against hypertension, retroviruses, ulcers, pain, and inflammation. Squid is used in various dishes, including calamari rings, calamaro, paella, soups, risotto, pasta, lulas (a Portuguese dish), deep-fried squid with mustard sauce or chilli sauce, and sushi.
Similarly, lquid tentacles and cuttlefish are also popular ingredients in many cuisines. Squid ink is used as a colorant in some dishes, adding a unique flavor and visual appeal. In conclusion, squid is a nutrient-dense food that offers numerous health benefits, including heart health, brain development, and immune system support. However, it is essential to consume it in moderation due to the mercury levels and potential allergens. Squid can be prepared in various ways, making it a versatile ingredient in many dishes.
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Market Scope |
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Report Coverage |
Details |
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Page number |
159 |
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Base year |
2023 |
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Historic period |
2018-2022 |
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Forecast period |
2024-2028 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 4.63% |
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Market growth 2024-2028 |
USD 2.85 billion |
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Market structure |
Fragmented |
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YoY growth 2023-2024(%) |
4.08 |
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Regional analysis |
APAC, Europe, North America, South America, and Middle East and Africa |
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Performing market contribution |
APAC at 45% |
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Key countries |
China, India, Japan, Spain, and Peru |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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Key companies profiled |
Aksha Fish Meal And Oil Co., Austevoll Seafood ASA, Brasmar Group SGPS SA, Freshkatch, Holt Seafood Company Pty Ltd., Indepesca Overseas Pvt. Ltd., KING FISH PRODUCTS PVT. LTD., Lee Fishing Co., Maruha Nichiro Corp., MINH KHUE SEAFOODS CO., Nissui Corp., Nueva Pescanova SL, Oceana Inc., PT. Sukses Lautan Indonesia, Qingdao Seaflying Food Co. Ltd., Seafood Pride International, Super Royale Seafoods Intl Inc., Thai Union Group PCL, Xiamen Taiseng Seafoods CO. LTD., and High Liner Foods Inc |
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Market dynamics |
Parent market analysis, market growth inducers and obstacles, market forecast, 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 market report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Product
7 Market Segmentation by Distribution Channel
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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