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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Octopus Market Share
Based on product type, frozen products account for a significant share of the market
The growing popularity of ready–to–eat food due to rising sedentary lifestyles is supporting the demand for frozen octopus and octopus-based products. The frozen octopuses are mostly sourced from Morocco, Mauritania, and Indonesia in Europe.
Additionally, octopuses can be frozen for 24 months, allowing for longer storage while preserving the octopus's fresh taste.
To reduce the growing pressure on fresh wild octopuses, the companies are focusing on commercial-farmed octopuses. These farms primarily centre on the common octopus (Octopus vulgaris), with initiatives underway in Europe (particularly Spain), the United States, Mexico, and Japan.
Based on distribution channels, direct sales channels lead the global octopus market
Direct sales of octopus typically involve purchasing the octopus directly from fishermen, seafood markets, or specialized seafood suppliers.
Indirect channels of distribution for octopuses involve intermediaries between the producers and consumers. This includes wholesalers, retailers, food service establishments, online platforms, exporters, and importers. Further, the Marine Stewardship Council and FAO Guidelines for the ecolabelling of fish and fishery products are aiding the demand for environmentally sustainable and clean label products.
Octopus Market Report Snapshots
Octopus Market Regional Analysis
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
The market attained a volume of 3,76,451.0 tons in 2023.
The market is estimated to grow at a CAGR of 1.2% during 2024-2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach a volume of 4,20,608.1 tons by 2032.
The different types are fresh, frozen, and others (smocked, dried, or salted).
The key regional markets for octopuses are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
Direct and indirect are the two types of distribution channels in the market.
The factors driving the growth of the market are increasing octopus farming, rising trend of consumption of exotic foods, the presence of significant safety and quality standards, and increasing awareness of the health benefits of octopus consumption.
The key players in the market include Frigorificos De Camarinas S.L., Mackay Reef Fish Supplies Pty Ltd., Amigo Sea Food Co., Siam Canadian Foods Co. Ltd., and Nueva Pescanova, S.L., among others.
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