Sale

Octopus Market

Global Octopus Market Share, Size, Growth, Analysis, Trends: By Product Type: Fresh, Frozen, Others (Smocked, Dried, or Salted); By Distribution Channel: Direct, Indirect; Regional Analysis; Market Dynamics: SWOT Analysis, Porter’s Five Forces Analysis, Key Indicators for Demand, Key Indicators for Price; Competitive Landscape; 2024-2032

Global Octopus Market Size

The global octopus market attained a volume of 3,76,451 tons in 2023. The market is estimated to grow at a CAGR of 1.24% during 2024-2032 to reach a volume of 4,16,990 tons by 2032.

 

Octopus Market Outlook

  • As of March 2024, 350,000-500,000 tons/year of octopuses are harvested globally for human consumption. These belong to around 20-100 different species of octopods.
  • Countries such as Japan, South Korea, and Mediterranean countries consume a significant number of octopuses due to their culinary delicacies.
  • Since octopuses in Europe are excluded from quota regulations under the Common Fisheries Policy and EU Member States, it is widely harvested across the EU waters.

 

octopus market

Read more about this report - REQUEST FREE SAMPLE COPY IN PDF

 

Global Octopus Market Growth Rate

As of March 2024, around 200 million tons of fish and seafood was produced annually across the globe. The low-fat and nutritious profile of octopus is increasing its consumption. Octopus is rich in iron, vitamin B12, and selenium which helps in maintaining the health of consumers.

 

The trend of trying out exotic food and cuisines is a major factor contributing to the market growth. Octopus is incorporated in a variety of dishes, including salads, stews, and grilling. In Europe, octopus is widely consumed in Italy, Spain, Portugal, Greece, and France. In addition to trading with one another, Spain and Portugal also supply octopuses to other countries in the EU, including Greece and Italy.

 

Sustainable and ethical fishing practices are gaining popularity globally. Currently, there are two Marine Stewardship Council (MSC) certified octopus fisheries globally. These include Western Asturias Octopus Fishery in Spain, and the Western Australia Octopus Fishery in Australia.

 

Figure: World Fisheries Production by Continent in 2020

Global Octopus Market

 

Key Trends and Developments

Rising awareness of health benefits of octopus; increasing sustainability in sea food sourcing; increasing influence of social media on exotic foods; and presence of significant food certifications ensuring quality and safety of sea foods are impacting the octopus market growth

 

May 26, 2023

The Nueva Pescanova Group and Microsoft renewed their partnership, originally established in 2021, to further enhance the digitization of aquafarms using Artificial Intelligence, Internet of Things, and Big Data technologies. Over the past two years, this collaboration has led to the development of the world's first intelligent aquaculture farm for Vannamei shrimp (Smart Farm).

 

Nov 8, 2021

The Nueva Pescanova Group opens the first private aquaculture research centre in Spain, with an investment of 7.5 million euros, which will position the company at the forefront of aquaculture research worldwide in areas such as health improvement, nutrition, animal welfare, sustainability, and new farming species, such as the octopus.

 

Aug 30, 2021

Siam Canadian Group has expanded its footprint in South America with its latest office in Guayaquil, Ecuador.

 

Nutritional profile of octopus and octopus-based foods

Octopus is a good source of vitamin B12, omega-3 fatty acids, copper, and iron, essential for human health. According to the International Diabetes Federation (IDF), by 2045, around 783 million people are expected to be living with diabetes. Being a low-glycemic index (GI) food, octopus is expected to rise in popularity among diabetic consumers.

 

Sustainability in octopus sourcing

Consumers growing emphasis on ethical sourcing provides an opportunity for fisheries that follow ethical fishing practices. By obtaining quality and sustainability certifications, such as the Marine Stewardship Council (MSC), companies can expand their market share. Currently, there are two MSC-certified octopus fisheries in the world, one each in Spain and Australia.

 

Social media’s influence on exotic meat demand

Octopus is regarded as an exotic meat due to its unique flavour and taste. Increasing social media influence has raised the demand for octopus meat outside the countries where it is traditionally consumed, including Japan and South Korea.

 

Food certifications and eco-Certification

Certifications such as IFS (International Featured Standards) and BRC (British Retail Consortium) show adherence to severe food safety measures. Additionally, certifications such as the Marine Stewardship Council (MSC) indicate that the octopus was harvested using techniques that have little environmental effect.

 

Octopus Market Trends

Octopus farming is becoming more and more popular in the aquaculture sector. The biological characteristics of the octopus are a major element influencing this interest. Octopuses, comparison to many other seafood, develop quickly and have brief lives—usually one to two years. Quicker turnaround times for producers result from this rapid growing cycle, which might eventually lead to more frequent harvests and a more consistent supply for the market. Octopuses are preferred for aquaculture innovation because of this quality, as well as their delectable flavor and rising consumer demand.

 

By catering to a variety of tastes and preferences, innovative product forms including frozen, brined, or salted octopus, as well as smoked octopus, can open up new market opportunities. Further, food certifications and quality regulations guarantee customers that the octopus they are purchasing has been handled and processed hygienically, reducing the danger of foodborne disease. Fisheries are also adopting sustainable methods and practices to preserve the long-term viability of octopus population.

 

octopus market by segments

Read more about this report - REQUEST FREE SAMPLE COPY IN PDF

 

Octopus Industry Segmentation

“Global Octopus Market Report and Forecast 2024-2032” offers a detailed analysis of the market based on the following segments:

 

Market Breakup by Product Type

  • Fresh
  • Frozen
  • Others (Smocked, Dried, or Salted)

 

Market Breakup by Distribution Channel

  • Direct
  • Indirect

 

Market Breakup by Region

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East and Africa

 

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 Leaders

The market players are focusing on strengthening the supply chain network and offering high quality products to meet the international standards.

 

Frigorificos De Camarinas S.L.

Frigoríficos De Camariñas S.L. specialises exclusively in octopus. Headquartered in Spain, the company's brands are marketed across Europe through a network of agents and are available in both local and national stores.

 

Mackay Reef Fish Supplies Pty Ltd.

Mackay Reef Fish Supplies Pty Ltd. is a seasoned seafood processing and marketing firm headquartered in Queensland. The company specialises in the processing of freshly caught fish from a prominent fishing zone in the Northern Territory.

 

Amigo Sea Food Co.

Amigo Sea Food Co. excels as a reputable supplier of frozen seafood, offering a diverse range including Black Tiger and Vannamei shrimp varieties, fish, squid, cuttlefish, and octopus.

 

Siam Canadian Foods Co. Ltd.

Siam Canadian Group Limited is a major player in the global food export industry. Siam Canadian currently maintains offices across 6 Asian countries and additionally procures products from North America, South America, Europe, Bangladesh, Korea, and Japan.

 

Nueva Pescanova, S.L.

The Nueva Pescanova Group is a leading multinational company specialising in the fishing, farming, processing, and commercialisation of seafood products. Headquartered in Spain, Pescanova is the world’s largest producer of shrimp and has a presence across 80 countries of 5 continents.

 

octopus market by region

Read more about this report - REQUEST FREE SAMPLE COPY IN PDF

 

Octopus Market Analysis by Region

The Asia Pacific leads the market, due to increased consumption of sea food in the region

The Asia Pacific dominates the octopus market with China as a key regional player. China is a significant producer and consumer of octopus globally. In 2020, global octopus landings amounted to 377,818 tonnes, with China accounting for around 27.8%.

 

During H1 2023, Japan imported 20 837 tonnes of octopus, a rise of 15.6% compared to the same period in 2022. The largest suppliers were Mauritania (6 679 tonnes), China (5 005 tonnes), and Vietnam (3 920 tonnes).

 

Within Europe, Spain is a major market for the common octopus (Octopus vulgaris) and the species is an important part of the traditional diet. It is also a significant player in the global trade of octopus products, exporting to most parts of the world.

 

The most widely found octopus species in Portugal are the common octopus and Octopus Vulgaris.  The country mostly catches octopuses using fishing gear like octopus pots and Portuguese traps.

 

Key Highlights of the Report

REPORT FEATURES DETAILS
Base Year 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Scope of the Report

Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:

  • Product Type
  • Distribution Channel
  • Region
Breakup by Product Type
  • Fresh
  • Frozen
  • Others (Smocked, Dried, or Salted)
Breakup by Distribution Channel
  • Direct
  • Indirect
Breakup by Region
  • North America
    • United States of America 
    • Canada
  • Europe
    • Germany
    • France
    • Italy
    • Spain
    • Portugal
    • Greece
    • Others
  • Asia Pacific
    • China
    • Japan
    • South Korea
    • ASEAN
    • Australia
    • Others
  • Latin America
    • Brazil
    • Argentina
    • Mexico
    • Others
  • Middle East and Africa
Market Dynamics
  • SWOT Analysis
  • Porter's Five Forces Analysis
  • Key Indicators for Demand
  • Key Indicators for Price
Trade Data Analysis
  • Major Exporting Countries
    • By Value
    • By Volume
  • Major Importing Countries
    • By Value
    • By Volume
Competitive Landscape
  • Market Structure
  • Company Profiles
    • Company Overview
    • Product Portfolio
    • Demographic Reach and Achievements
    • Certifications
Companies Covered
  • Frigorificos De Camarinas S.L.
  • Mackay Reef Fish Supplies Pty Ltd.
  • Amigo Sea Food Co.
  • Siam Canadian Foods Co. Ltd.
  • Nueva Pescanova, S.L.
  • Others

 

Our Best Selling Reports

Outdoor Flooring Market

Guatemala Cheese Market

Medical Education Market

Permanent Magnets Market

silicon photonics market

TFT-LCD Display Panel Market

Vacuum Truck Market

Underwater Connectors Market

Fire Pump Controllers Market

Disposable Toothbrush Market

 

Octopus Market Report Snapshots

Octopus Market Size

Octopus Market Growth

Octopus Market Trends

Octopus Market Share

Octopus Companies

Octopus Market Regional Analysis

 

*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.

1    Preface
2    Report Coverage – Key Segmentation and Scope
3    Report Description

    3.1    Market Definition and Outlook
    3.2    Properties and Applications
    3.3    Market Analysis
    3.4    Key Players
4    Key Assumptions
5    Executive Summary

    5.1    Overview
    5.2    Key Drivers
    5.3    Key Developments
    5.4    Competitive Structure
    5.5    Key Industrial Trends
6    Market Snapshot
    6.1    Global
    6.2    Regional
7    Opportunities and Challenges in the Market
8    Global Octopus Market Analysis

    8.1    Key Industry Highlights
    8.2    Global Octopus Historical Market (2018-2023) 
    8.3    Global Octopus Market Forecast (2024-2032)
    8.4    Global Octopus Market by Product Type
        8.4.1    Fresh
            8.4.1.1    Historical Trend (2018-2023)
            8.4.1.2    Forecast Trend (2024-2032)
        8.4.2    Frozen
            8.4.2.1    Historical Trend (2018-2023)
            8.4.2.2    Forecast Trend (2024-2032)
        8.4.3    Others (Smocked, Dried, or Salted)
    8.5    Global Octopus Market by Distribution Channel
        8.5.1    Direct
            8.5.1.1    Historical Trend (2018-2023)
            8.5.1.2    Forecast Trend (2024-2032)
        8.5.2    Indirect
            8.5.2.1    Historical Trend (2018-2023)
            8.5.2.2    Forecast Trend (2024-2032)
    8.6    Global Octopus Market by Region
        8.6.1    North America
            8.6.1.1    Historical Trend (2018-2023) 
            8.6.1.2    Forecast Trend (2024-2032)
        8.6.2    Europe
            8.6.2.1    Historical Trend (2018-2023) 
            8.6.2.2    Forecast Trend (2024-2032)
        8.6.3    Asia Pacific
            8.6.3.1    Historical Trend (2018-2023) 
            8.6.3.2    Forecast Trend (2024-2032)
        8.6.4    Latin America
            8.6.4.1    Historical Trend (2018-2023) 
            8.6.4.2    Forecast Trend (2024-2032)
        8.6.5    Middle East and Africa
            8.6.5.1    Historical Trend (2018-2023) 
            8.6.5.2    Forecast Trend (2024-2032)
9    North America Octopus Market Analysis
    9.1    United States of America 
        9.1.1    Historical Trend (2018-2023) 
        9.1.2    Forecast Trend (2024-2032)
    9.2    Canada
        9.2.1    Historical Trend (2018-2023) 
        9.2.2    Forecast Trend (2024-2032)
10    Europe Octopus Market Analysis
    10.1    Germany
        10.1.1    Historical Trend (2018-2023) 
        10.1.2    Forecast Trend (2024-2032)
    10.2    France
        10.2.1    Historical Trend (2018-2023) 
        10.2.2    Forecast Trend (2024-2032)
    10.3    Italy
        10.3.1    Historical Trend (2018-2023) 
        10.3.2    Forecast Trend (2024-2032)
    10.4    Spain
        10.4.1    Historical Trend (2018-2023) 
        10.4.2    Forecast Trend (2024-2032)
    10.5    Portugal
        10.5.1    Historical Trend (2018-2023) 
        10.5.2    Forecast Trend (2024-2032)
    10.6    Greece
        10.6.1    Historical Trend (2018-2023) 
        10.6.2    Forecast Trend (2024-2032)
    10.7    Others
11    Asia Pacific Octopus Market Analysis
    11.1    China
        11.1.1    Historical Trend (2018-2023) 
        11.1.2    Forecast Trend (2024-2032)
    11.2    Japan
        11.2.1    Historical Trend (2018-2023) 
        11.2.2    Forecast Trend (2024-2032)
    11.3    South Korea
        11.3.1    Historical Trend (2018-2023) 
        11.3.2    Forecast Trend (2024-2032)
    11.4    ASEAN
        11.4.1    Historical Trend (2018-2023) 
        11.4.2    Forecast Trend (2024-2032)
    11.5    Australia
        11.5.1    Historical Trend (2018-2023) 
        11.5.2    Forecast Trend (2024-2032)
    11.6    Others
12    Latin America Octopus Market Analysis
    12.1    Brazil
        12.1.1    Historical Trend (2018-2023) 
        12.1.2    Forecast Trend (2024-2032)
    12.2    Argentina
        12.2.1    Historical Trend (2018-2023) 
        12.2.2    Forecast Trend (2024-2032)
    12.3    Mexico
        12.3.1    Historical Trend (2018-2023) 
        12.3.2    Forecast Trend (2024-2032)
    12.4    Others
13    Middle East and Africa Octopus Market Analysis
14    Market Dynamics
    14.1    SWOT Analysis
        14.1.1    Strengths
        14.1.2    Weaknesses
        14.1.3    Opportunities
        14.1.4    Threats
    14.2    Porter’s Five Forces Analysis
        14.2.1    Supplier’s Power
        14.2.2    Buyer’s Power
        14.2.3    Threat of New Entrants
        14.2.4    Degree of Rivalry
        14.2.5    Threat of Substitutes
    14.3    Key Indicators for Demand
    14.4    Key Indicators for Price
15    Value Chain Analysis
16    Trade Data Analysis (HS Code- 160555)

    16.1    Major Exporting Countries
        16.1.1    By Value
        16.1.2    By Volume
    16.2    Major Importing Countries
        16.2.1    By Value
        16.2.2    By Volume 
17    Price Analysis
18    Competitive Landscape

    18.1    Market Structure
    18.2    Company Profiles
        18.2.1    Frigorificos De Camarinas S.L.
            18.2.1.1    Company Overview
            18.2.1.2    Product Portfolio
            18.2.1.3    Demographic Reach and Achievements
            18.2.1.4    Certifications
        18.2.2    Mackay Reef Fish Supplies Pty Ltd.
            18.2.2.1    Company Overview
            18.2.2.2    Product Portfolio
            18.2.2.3    Demographic Reach and Achievements
            18.2.2.4    Certifications
        18.2.3    Amigo Sea Food Co.
            18.2.3.1    Company Overview
            18.2.3.2    Product Portfolio
            18.2.3.3    Demographic Reach and Achievements
            18.2.3.4    Certifications
        18.2.4    Siam Canadian Foods Co. Ltd.
            18.2.4.1    Company Overview
            18.2.4.2    Product Portfolio
            18.2.4.3    Demographic Reach and Achievements
            18.2.4.4    Certifications
        18.2.5    Nueva Pescanova, S.L.
            18.2.5.1    Company Overview
            18.2.5.2    Product Portfolio
            18.2.5.3    Demographic Reach and Achievements
            18.2.5.4    Certifications
        18.2.6    Others
19    Key Trends and Developments in the Market

 

List of Key Figures and Tables

1.    Global Octopus Market: (USD Million), 2018 and 2032
2.    Global Octopus Market: (Tons), 2018 and 2032
3.    Global Octopus Historical Market: Breakup by Product Type (Tons), 2018-2023
4.    Global Octopus Market Forecast: Breakup by Product Type (Tons), 2024-2032
5.    Global Octopus Historical Market: Breakup by Distribution Channel (Tons), 2018-2023
6.    Global Octopus Market Forecast: Breakup by Distribution Channel (Tons), 2024-2032
7.    Global Octopus Historical Market: Breakup by Region (USD Million), 2018-2023
8.    Global Octopus Market Forecast: Breakup by Region (USD Million), 2024-2032
9.    Global Octopus Historical Market: Breakup by Region (Tons), 2018-2023
10.    Global Octopus Market Forecast: Breakup by Region (Tons), 2024-2032
11.   North America Octopus Historical Market: Breakup by Country (Tons), 2018-2023
12.    North America Octopus Market Forecast: Breakup by Country (Tons), 2024-2032
13.    Europe Octopus Historical Market: Breakup by Country (Tons), 2018-2023
14.    Europe Octopus Market Forecast: Breakup by Country (Tons), 2024-2032
15.    Asia Pacific Octopus Historical Market: Breakup by Country (Tons), 2018-2023
16.    Asia Pacific Octopus Market Forecast: Breakup by Country (Tons), 2024-2032
17.    Latin America Octopus Historical Market: Breakup by Country (Tons), 2018-2023
18.    Latin America Octopus Market Forecast: Breakup by Country (Tons), 2024-2032
19.    Middle East and Africa Octopus Historical Market: Breakup by Country (Tons), 2018-2023
20.    Middle East and Africa Octopus Market Forecast: Breakup by Country (Tons), 2024-2032
21.    Major Exporting Countries by Value
22.    Major Importing Countries by Value
23.    Major Exporting Countries by Volume
24.    Major Importing Countries by Volume
25.    North America Historical Price Trends and Forecast 2018-2032
26.    Europe Historical Price Trends and Forecast 2018-2032
27.    Asia Pacific Historical Price Trends and Forecast 2018-2032
28.    Latin America Historical Price Trends and Forecast 2018-2032
29.    Middle East and Africa Historical Price Trends and Forecast 2018-2032
30.    Global Octopus Market Structure

Key Questions Answered in the Report

The market attained a volume of 3,76,451 tons in 2023.

The market is estimated to grow at a CAGR of 1.24% during 2024-2032.

The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach a volume of 4,16,990 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.

Purchase Full Report

Mini Report

$ 2199     $1999
  • Selected Sections, One User
  • Printing Not Allowed
  • Email Delivery in PDF
  • Free Limited Customisation
  • Post Sales Analyst Support
  • 50% Discount on Next Update

Single User License

$ 3299     $2999
  • All Sections, One User
  • One Print Allowed
  • Email Delivery in PDF
  • Free Limited Customisation
  • Post Sales Analyst Support
  • 50% Discount on Next Update
most popular

Five User License

$ 4399     $3999
  • All Sections, Five Users
  • Five Prints Allowed
  • Email Delivery in PDF
  • Free Limited Customisation
  • Post Sales Analyst Support
  • 50% Discount on Next Update

Corporate License

$ 5499     $4999
  • All Sections, Unlimited Users
  • Unlimited Prints Allowed
  • Email Delivery in PDF + Excel
  • Free Limited Customisation
  • Post Sales Analyst Support
  • 50% Discount on Next Update

Any Question? Speak With An Analyst

Contact Analyst

View A Sample

Request Sample

Did You Miss Anything, Ask Now

Request Customisation
Why Expert Market Research?

Right People

We are technically excellent, strategic, practical, experienced and efficient; our analysts are hand-picked based on having the right attributes to work successfully and execute projects based on your expectations.

Right Methodology

We leverage our cutting-edge technology, our access to trusted databases, and our knowledge of the current models used in the market to deliver you research solutions that are tailored to your needs and put you ahead of the curve.

Right Price

We deliver in-depth and superior quality research in prices that are reasonable, unmatchable, and shows our understanding of your resource structure. We, additionally, offer attractive discounts on our upcoming reports.

Right Support

Our team of expert analysts are at your beck and call to deliver you optimum results that are customised to meet your precise needs within the specified timeframe and help you form a better understanding of the industry.

NEWSLETTER