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

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

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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

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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

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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	If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.