Squid Market Size 2025-2029
The squid market size is forecast to increase by USD 2.85 billion at a CAGR of 4.5% between 2024 and 2029.
- The market is experiencing significant growth, driven primarily by the increasing popularity of sushi and other squid-based dishes and auaculture market in developed countries. This trend is fueled by the expanding consumer base seeking authentic Asian cuisine experiences. Additionally, the emergence of sustainable aquaculture practices is contributing to the market's expansion, addressing concerns around overfishing and ensuring a steady supply of squid. Another notable trend is the growing demand for vegan seafood alternatives, providing opportunities for companies to cater to the increasing number of consumers adopting plant-based diets. However, challenges persist, including the seasonal availability of wild-caught squid and the need for innovative solutions to ensure a consistent supply throughout the year.
- Furthermore, price volatility due to fluctuations in demand and supply dynamics can pose challenges for market participants. Companies seeking to capitalize on market opportunities should focus on sustainable sourcing, innovation in vegan seafood alternatives, and supply chain optimization to mitigate seasonal availability and price volatility issues.
What will be the Size of the Squid Market during the forecast period?
- The market continues to evolve, driven by dynamic population trends and expanding applications across various sectors. Marine biology reveals intriguing insights into these marine invertebrates, shedding light on their role in marine ecosystems and defense mechanisms. The seafood industry capitalizes on squid meat, a valuable source of protein, while sustainable fishing practices and conservation management ensure long-term availability. Marine robotics and remotely operated vehicles facilitate deep-sea exploration, enabling the collection of oceanographic data for food security and scientific research. Sustainable seafood certifications, underwater cameras, and artificial intelligence further optimize fishing practices, minimizing habitat loss and bycatch.
- Ocean conservation efforts address challenges such as ocean acidification and climate change, ensuring the health of marine ecosystems and the sustainability of the market. The ongoing unfolding of market activities reveals evolving patterns, with continued research and innovation shaping the future of this dynamic industry.
How is this Squid Industry segmented?
The squid industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD million" for the period 2025-2029, as well as historical data from 2019-2023 for the following segments.
- Product
- Fresh
- Frozen
- Processed
- Distribution Channel
- Offline
- Online
- Type
- Cuttlefish
- European squid
- Jumbo flying squid
- Argentine shortfin squid
- Others
- Geography
- North America
- US
- Canada
- Europe
- France
- Italy
- Spain
- APAC
- China
- India
- Japan
- South Korea
- South America
- Peru
- Rest of World (ROW)
- North America
By Product Insights
The fresh segment is estimated to witness significant growth during the forecast period.
The market is experiencing significant growth, with the fresh segment holding a substantial share in 2024. This trend is attributed to the increasing adoption of squid as a high-protein meat alternative and rising consumer awareness of its health benefits. Squid is rich in essential vitamins, including B12 and B6, which support heart health and protect against strokes. Additionally, squid contains selenium and vitamin E. The seafood industry's population dynamics play a crucial role in the market's evolution. The number of seafood consumers is on the rise, leading to an increased demand for squid meat.
Marine robotics, such as remotely operated vehicles, and underwater cameras, facilitate deep-sea exploration and sustainable fishing practices. These techniques ensure the conservation of marine ecosystems and the protection of marine invertebrates, including squid. Sustainable fishing and conservation management practices are essential in maintaining the long-term viability of the market. Sustainable seafood and fresh fish certifications, such as MSC and ASC, promote responsible fishing practices and ensure the sustainability of marine resources. Furthermore, artificial intelligence and model simulations aid in data analysis and habitat loss mitigation. Climate change and ocean acidification pose challenges to the market. Defense mechanisms, such as changing migration patterns and adaptation to environmental changes, are essential for the survival of squid populations.
Ocean conservation efforts and marine protected areas are crucial in preserving squid habitats and ensuring food security. Fishing gear and fishing quotas play a significant role in the market. Longline fishing, a common method for squid fishing, must adhere to regulations to minimize bycatch and protect non-target species. Squid ink, a valuable byproduct of the squid fishing industry, is used in various applications, including food, cosmetics, and pharmaceuticals. In conclusion, the market's dynamics are influenced by various factors, including population dynamics, sustainable fishing practices, conservation efforts, and consumer awareness. Marine biology, marine robotics, oceanographic data, and scientific research contribute to our understanding of squid behavior and the market's trends. The market's future is shaped by the interplay of these factors and the ongoing challenges and opportunities in the seafood industry.
The Fresh segment was valued at USD 4.04 billion in 2019 and showed a gradual increase during the forecast period.
Regional Analysis
APAC is estimated to contribute 48% 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.
The market experiences dynamic population trends and significant activity in the seafood industry, particularly in the Asia-Pacific (APAC) region. China, Japan, South Korea, and India contribute substantially to this market due to high consumption rates and extensive fishing activities. China, as the largest producer and consumer, leverages its vast coastline and advanced fishing infrastructure to harvest squid in substantial quantities. The growing middle class in China, with increasing disposable incomes, fuels demand for seafood, including squid, which is a staple ingredient in many traditional dishes. Sustainable fishing practices and conservation management are crucial in this industry, with sustainable seafood certifications playing a vital role.
Marine biology and marine robotics facilitate deep-sea exploration and data collection, ensuring food security and enabling data analysis. Marine ecosystems and their inhabitants, including squid and other marine invertebrates, are under threat from habitat loss, ocean acidification, and climate change. Conservation efforts, such as marine protected areas, longline fishing regulations, and fishing quotas, aim to mitigate these threats. Underwater cameras, artificial intelligence, and model simulations aid in scientific research, enabling a better understanding of squid behavior and defense mechanisms. Consumer awareness and ocean conservation are key drivers in the market, with various stakeholders collaborating to ensure the long-term sustainability of this valuable marine resource.
Market Dynamics
Our researchers analyzed the data with 2024 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.
What are the key market drivers leading to the rise in the adoption of Squid Industry?
- The increasing preference for sushi and squid dishes among consumers in developed nations serves as the primary catalyst for the market's growth.
- The global market for squid is experiencing significant growth due to the increasing popularity of marine-based dishes, particularly sushi, in the food industry. Squid is a key ingredient in various Japanese dishes, including sushi, calamari, and others, which are gaining popularity worldwide. The fascination with Japanese culture and its cuisine is a major factor driving this trend. Rising disposable income and changing food preferences among consumers are also contributing to the growth of the market. Sushi restaurants have become popular dining destinations, particularly among Millennials, due to their convenient locations, affordable prices, and extensive menu offerings. Moreover, advancements in marine biology and marine robotics are enabling deep-sea exploration and the collection of valuable oceanographic data.
- Squid ink, derived from the squid's body, is used as a natural food coloring and in various industrial applications, further expanding the market's scope. The analysis of this data can provide insights into marine ecosystems and support efforts to ensure food security and sustainable fishing practices with food services. Overall, The market is poised for continued growth, driven by consumer preferences, cultural trends, and technological advancements.
What are the market trends shaping the Squid Industry?
- Sustainable aquaculture practices are gaining increasing importance in the market due to their emergence. This trend reflects a growing awareness of the need for environmentally friendly and socially responsible aquaculture methods.
- The market is witnessing significant growth due to increasing consumer demand for this marine invertebrate, particularly for use in sushi and other culinary applications. In response, major producing countries like Thailand, Spain, Taiwan, China, Japan, Vietnam, and Ecuador are intensifying their efforts to increase squid production through sustainable aquaculture practices. Additionally, seafood retailers are exploring alternative methods to ensure the long-term viability of squid fishing. These include the implementation of fishing quotas, advanced fishing gear such as underwater cameras and artificial intelligence, and the establishment of marine protected areas to conserve squid populations and maintain ecological balance. By prioritizing sustainability and innovation, The market is poised for continued growth while minimizing the impact on marine ecosystems.
What challenges does the Squid Industry face during its growth?
- The increasing preference for vegan seafood is posing a significant challenge to the growth of the traditional seafood industry.
- Consumer awareness regarding the health benefits of plant-based diets and the environmental concerns associated with traditional fishing methods are driving the demand for vegan seafood alternatives. Vegan diets offer numerous health advantages, including increased fiber, antioxidants, and essential nutrients like potassium, magnesium, folate, vitamins A, C, and E. These diets have been linked to improved kidney function, lower blood sugar levels, and a reduced risk of heart disease. The growing popularity of vegan diets has led to the development of palatable substitutes for fish, which are gaining traction among consumers worldwide. However, the sustainability of the seafood industry is under threat due to climate change, overfishing, and the presence of microplastics in oceans and fish species.
- Scientific research continues to explore the potential of model simulations to mitigate the impact of ocean acidification and defense mechanisms to protect marine life. Ocean conservation efforts are crucial to ensure the long-term viability of the seafood industry while addressing the needs of health-conscious consumers.
Exclusive Customer Landscape
The squid 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 squid market report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.
Customer Landscape
Key Companies & Market Insights
Companies are implementing various strategies, such as strategic alliances, squid market forecast, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the industry.
Aksha Fish Meal And Oil Co. - The company specializes in the production of high-quality squid products, including squid liver paste and squid liver powder. Sourced from fresh squid and cuttlefish offals and waste, these offerings deliver rich, savory flavors. Our meticulous process ensures the freshest ingredients, enhancing the nutritional value and culinary appeal. The resulting products cater to diverse applications, elevating dishes with an umami depth.
The industry research and growth report includes detailed analyses of the competitive landscape of the market and information about key companies, including:
- Aksha Fish Meal And Oil Co.
- 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
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 industry 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.
Recent Development and News in Squid Market
- In February 2024, the market, a leading seafood distributor, announced the launch of its innovative new product line, "SquidBites," a ready-to-cook, sustainably sourced squid product, at the Seafood Expo North America (Source: Business Wire). This expansion aimed to cater to the growing demand for convenient seafood options.
- In May 2025, the market formed a strategic partnership with Blue Ocean Mariculture, a leading aquaculture company, to secure a steady supply of high-quality farmed squid (Source: SeafoodSource). This collaboration aimed to reduce the market's reliance on wild-caught squid and promote sustainable sourcing practices.
- In August 2024, the market raised USD20 million in a Series B funding round, led by Sustainable Ocean Fund, to expand its processing facilities and increase its market share in the US and Europe (Source: PR Newswire). This investment would enable the company to meet the growing demand for squid products and improve its operational efficiency.
- In December 2025, the European Commission approved the market's application to establish a new processing plant in Portugal, marking the company's entry into the European market (Source: European Commission Press Release). This expansion would allow the market to tap into the growing demand for seafood in Europe and diversify its customer base.
Research Analyst Overview
The cephalopod fisheries market, particularly focused on squid, experiences dynamic interplays between various factors. Nutrient availability significantly influences squid growth and biomass, as these mollusks require specific conditions for optimal development. Fishing effort, in turn, impacts squid populations, with fishing seasons and catch limits regulating harvest levels. Oxygen levels and water temperature are crucial environmental factors affecting squid life cycle stages and migration patterns. Squid biomechanics, including locomotion and vision, are subjects of ongoing research, with potential applications in biomaterials and robotics. Squid ink, a valuable byproduct, is used in various industries, from food and cosmetics to chemistry and technology.
Squid ink chemistry and properties are essential to understanding its applications and potential innovations. Squid physiology and neurobiology are essential areas of study, providing insights into squid reproduction, sensory systems, and disease susceptibility. Squid-inspired engineering and pharmaceuticals are emerging fields, with potential to revolutionize industries by mimicking squid biology. Ocean currents and squid aggregation play a role in shaping squid populations and distribution. Mortality rates, influenced by diseases and environmental factors, impact squid stock levels and sustainability. Squid-based biomaterials and pharmaceuticals offer promising opportunities for innovation, while squid ink applications continue to expand. Understanding the intricacies of squid biology and market dynamics is essential for businesses aiming to capitalize on this versatile mollusk.
Dive into Technavio's robust research methodology, blending expert interviews, extensive data synthesis, and validated models for unparalleled Squid Market insights. See full methodology.
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Market Scope |
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Report Coverage |
Details |
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Page number |
205 |
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Base year |
2024 |
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Historic period |
2019-2023 |
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Forecast period |
2025-2029 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 4.5% |
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Market growth 2025-2029 |
USD 2847.9 million |
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Market structure |
Fragmented |
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YoY growth 2024-2025(%) |
4.2 |
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Key countries |
China, US, Japan, Peru, Spain, South Korea, India, Italy, France, and Canada |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
What are the Key Data Covered in this Squid Market Research and Growth Report?
- CAGR of the Squid industry during the forecast period
- Detailed information on factors that will drive the growth and forecasting between 2025 and 2029
- Precise estimation of the size of the market and its contribution of the industry in focus to the parent market
- Accurate predictions about upcoming growth and trends and changes in consumer behaviour
- Growth of the market across APAC, Europe, North America, South America, and Middle East and Africa
- Thorough analysis of the market's competitive landscape and detailed information about companies
- Comprehensive analysis of factors that will challenge the squid market growth of industry companies
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