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Octopus Market by Product and Geography - Forecast and Analysis 2021-2025

  • Published: Feb 2021
  • Pages: 120
  • SKU: IRTNTR70160
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The octopus market size has the potential to grow by USD 318.07 million during 2021-2025, and the market’s growth momentum will accelerate at a CAGR of 1.44%. 

This report provides a detailed analysis of the market by product (processed and fresh), geography (APAC, Europe, North America, MEA, and South America), and key vendors. 

Market Overview

Octopus-Market-Market-Size-2020-2025

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Market Competitive Analysis

The report analyzes the market’s competitive landscape and offers information on several market vendors, including: 

 

  • Brindisa Spanish Foods
  • Charleston Crab House
  • CMU and Associates
  • Culinary Collective
  • Frigorificos de Camarinas
  • Galveston Shrimp Co.
  • Joe Pattis Seafood Co.
  • Pescanova Hellas
  • Robert Wholey and Co.
  • Thai Union Group PCL

 

The octopus market is fragmented and the vendors are deploying growth strategies such as product differentiation to compete in the market. Click here to uncover other successful business strategies deployed by the vendors. 

The market players also significantly leverage external market drivers such as high nutritional value of octopus meat to achieve growth opportunities. However, factors such as decrease in octopus landings leading to price hikes will challenge the growth of the market participants. To make the most of the opportunities and recover from post COVID19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

Download a free sample of the octopus market forecast report for insights on complete key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies. 

This octopus market analysis report also provides detailed information on the upcoming trends and challenges that will influence market growth. This will help companies create strategies to make the most of future growth opportunities. 

Octopus Market: Key Drivers and Trends

  • The growing awareness about the high nutritional value of octopus meat is one of the critical factors driving the octopus market growth.
  • Octopus meat has gained popularity among health-conscious consumers as a natural and healthy source of iron, selenium, Vitamin B12, and Omega-3 fatty acids
  • The lean meat of octopus is rich in vitamins, minerals, and healthy fats. 
  • Octopus meat is a rich source of nutrients, including trace minerals and Omega-3 fatty acids.
  • The demand for octopus meat is likely to grow in the forthcoming years as it has high iron content and helps in keeping the immune system healthy while aiding in brain development and cell growth.
  • The presence of omega-3 fatty acids in octopus meat helps in lowering the chances of strokes and heart attacks among patients.
  • The increasing demand for exotic meat is one of the key trends which will drive the market growth.
  • The increasing disposable income and evolving taste preferences of people worldwide have resulted in an increasing demand for octopus, and it is gaining popularity among exporters and chefs.
  • Millennials form one of the major consumer segments for octopus, attributable to their inclination toward newer tastes, flavors, and experiences.
  • In many countries, octopus is eaten as a delicacy, such as miruhulee boava in the Maldives, arroz de polvo in Portugal, and hongzhang in Singapore. 
  • The above-mentioned factors are augmenting the demand for octopus as exotic food, which is driving the growth of the market during the forecast period.

 

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Octopus Market: Segmentation by Geography

Octopus-Market-Market-Share-by-Region-2020-2025

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43% of the market’s growth will originate from Europe during the forecast period. Spain is one of the key markets for octopus in Europe. Market growth in this region will be faster than the growth of the market in other regions.

The growing popularity of octopus meat as a healthy and exotic food among millennials is one of the prime factors that will facilitate the octopus market growth in Europe over the forecast period. To garner further competitive intelligence and regional opportunities in store for vendors, view our sample report. 

Octopus Market: Segmentation by Product

Octopus-Market-Market-Share-by-Product-2020-2025

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Octopuses are farmed and harvested in many countries across the world, particularly in APAC, some parts of Europe, Northern Africa, and Mexico. However, the demand for octopus is growing globally, even in regions wherein the availability of fresh octopus is scarce. To address this demand and to increase imports by countries such as the US, the need for processed octopuses is growing. As fresh and raw octopuses have a short shelf life, they are processed to ship over long distances. Therefore, the growth of the market segment is expected to be significant during the forecast period.

However, the post COVID19 impact has brought forth a slowdown in the segment growth in terms of sales of the product. Fetch actionable market insights on post COVID19 impact on each segment. This report provides an accurate prediction of the contribution of all the segments to the growth of the octopus market size.

 

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Octopus Market: Key Highlights of the Report for 2021-2025

  • CAGR of the market during the forecast period 2021-2025
  • Detailed information on factors that will drive octopus market growth during the next five years
  • Precise estimation of the octopus market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the octopus industry across APAC, Europe, North America, MEA, and South America
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of octopus market vendors

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Octopus Market Scope

Report Coverage

Details

Page number

120

Base year

2020

Forecast period

2021-2025

Growth momentum & CAGR

Accelerate at a CAGR of 1%

Market growth 2021-2025

$ 318.07 million

Market structure

Fragmented

YoY growth (%)

0.76

Regional analysis

APAC, Europe, North America, MEA, and South America

Performing market contribution

Europe at 43%

Key consumer countries

China, Spain, US, Japan, and South Korea (Republic of Korea)

Competitive landscape

Leading companies, competitive strategies, consumer engagement scope

Companies profiled

Brindisa Spanish Foods, Charleston Crab House, CMU and Associates, Culinary Collective, Frigorificos de Camarinas, Galveston Shrimp Co., Joe Pattis Seafood Co., Pescanova Hellas, Robert Wholey and Co., and Thai Union Group PCL

Market Dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, market condition analysis for forecast period,

Customization purview

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Executive Summary

    Market Landscape

    • Market ecosystem
    • Value chain analysis

    Market Sizing

    • Market definition
    • Market segment analysis
    • Market size 2020
    • Market outlook: Forecast for 2020 - 2025

    Five Forces Analysis

    • Five Forces Summary
    • Bargaining power of buyers
    • Bargaining power of suppliers
    • Threat of new entrants
    • Threat of substitutes
    • Threat of rivalry
    • Market condition

    Market Segmentation by Product

    • Market segments
    • Comparison by Product
    • Processed - Market size and forecast 2020-2025
    • Fresh - Market size and forecast 2020-2025
    • Market opportunity by Product

    Customer landscape

      Geographic Landscape

      • Geographic segmentation
      • Geographic comparison
      • APAC - Market size and forecast 2020-2025
      • Europe - Market size and forecast 2020-2025
      • North America - Market size and forecast 2020-2025
      • MEA - Market size and forecast 2020-2025
      • South America - Market size and forecast 2020-2025
      • Key leading countries
      • Market opportunity by geography
      • Market drivers
      • Market challenges
      • Market trends

      Vendor Landscape

      • Overview
      • Vendor landscape
      • Landscape disruption

      Vendor Analysis

      • Vendors covered
      • Market positioning of vendors
      • Brindisa Spanish Foods
      • Charleston Crab House
      • CMU and Associates
      • Culinary Collective
      • Frigorificos de Camarinas
      • Galveston Shrimp Co.
      • Joe Pattis Seafood Co.
      • Pescanova Hellas
      • Robert Wholey and Co.
      • Thai Union Group PCL

      Appendix

      • Scope of the report
      • Currency conversion rates for US$
      • Research methodology
      • List of abbreviations

      Research Framework

      Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

      TechnavioINFORMATION SOURCES

      Primary sources

      • Manufacturers and suppliers
      • Channel partners
      • Industry experts
      • Strategic decision makers

      Secondary sources

      • Industry journals and periodicals
      • Government data
      • Financial reports of key industry players
      • Historical data
      • Press releases
      Technavio

      TechnavioDATA ANALYSIS

      Data Synthesis

      • Collation of data
      • Estimation of key figures
      • Analysis of derived insights

      Data Validation

      • Triangulation with data models
      • Reference against proprietary databases
      • Corroboration with industry experts
      Technavio

      TechnavioREPORT WRITING

      Qualitative

      • Market drivers
      • Market challenges
      • Market trends
      • Five forces analysis

      Quantitative

      • Market size and forecast
      • Market segmentation
      • Geographical insights
      • Competitive landscape
      Interested in this report?
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      The octopus market growth will increase by $318.07 million during 2020-2025.
      The octopus market is expected to grow at a CAGR of 1.44% during 2020-2025.
      Technavio has segmented the octopus market by product (Processed and Fresh) and geographic (APAC, Europe, North America, MEA, and South America).
      Brindisa Spanish Foods, Charleston Crab House, CMU and Associates, Culinary Collective, Frigorificos de Camarinas, Galveston Shrimp Co., Joe Pattis Seafood Co., Pescanova Hellas, Robert Wholey and Co., Thai Union Group PCL are a few of the key vendors in the octopus market.
      Europe will register the highest growth rate of 42.76% among the other regions. Therefore, the octopus market in Europe is expected to garner significant business opportunities for the vendors during the forecast period.
      • China
      • Spain
      • US
      • Japan
      • South Korea (Republic of Korea)
      The key factors driving the octopus market growth are:
      • High nutritional value of octopus meat
      The octopus market vendors should focus on grabbing business opportunities from the processed segment as it accounted for the largest market share in the base year.
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