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The global octopus 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 to reach a volume of 4,20,608.1 tons by 2032.
Global Octopus Market Report Summary | Description | Value |
Base Year | Tons | 2023 |
Historical Period | Tons | 2018-2023 |
Forecast Period | Tons | 2024-2032 |
Market Size 2023 | Tons | 3,76,451.0 |
Market Size 2032 | Tons | 4,20,608.1 |
CAGR 2018-2023 | Percentage | XX% |
CAGR 2024-2032 | Percentage | 1.2% |
CAGR 2024-2032 - Market by Region | Europe | 1.5% |
CAGR 2024-2032 - Market by Country | Greece | 2.0% |
CAGR 2024-2032 - Market by Country | Portugal | 1.7% |
CAGR 2024-2032 - Market by Product | Others | 1.4% |
CAGR 2024-2032 - Market by Distribution Channel | Indirect | 1.5% |
Market Share by Country | China | 18.5% |
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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
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 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.
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“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
CAGR 2024-2032 - Market by | Product |
Others | 1.4% |
Frozen | 1.3% |
Fresh | XX% |
Market Breakup by Distribution Channel
CAGR 2024-2032 - Market by | Distribution Channel |
Indirect | 1.5% |
Direct | XX% |
Market Breakup by Region
CAGR 2024-2032 - Market by | Region |
Europe | 1.5% |
North America | 1.4% |
Asia Pacific | XX% |
Latin America | XX% |
Middle East and Africa | XX% |
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.
Market Share by | Country |
China | 19% |
USA | XX% |
Canada | XX% |
Portugal | XX% |
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.
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.
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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%.
CAGR 2024-2032 - Market by | Country |
Greece | 2.0% |
Germany | 1.9% |
Portugal | 1.7% |
USA | 1.4% |
Italy | 1.2% |
Canada | XX% |
China | XX% |
Japan | XX% |
India | XX% |
Australia | XX% |
Saudi Arabia | XX% |
Brazil | XX% |
Mexico | XX% |
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.
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:
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Breakup by Product Type |
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Breakup by Distribution Channel |
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Breakup by Region |
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Market Dynamics |
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Trade Data Analysis |
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Competitive Landscape |
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Companies Covered |
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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.
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
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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