Home > Food & Beverages > Processed Food > Convenience Foods > Squid Market

Squid Market Trends

Report ID: GMI6989
Published Date: Oct 2023
Report Format: PDF

Download Free Sample

Squid Market Trends

There is an increasing demand for convenience and ready-to-eat squid products. Consumers with busy lifestyles seek quick and easy meal solutions, leading to the growth of pre-packaged squid items, such as calamari rings and marinated squid salads. There's a notable expansion in value-added products within the market. Processors are developing innovative squid-based foods like snacks, sausages, and surimi, capitalizing on squid's versatility and unique texture. This diversification appeals to a broader range of consumers and culinary preferences.

The globalization of culinary tastes has also boosted the market. Squid, known for its adaptability to various cuisines, is increasingly featured in international dishes, contributing to its popularity worldwide. Technological advancements in fishing, processing, and distribution have improved efficiency and quality, reducing waste and costs. These innovations are instrumental in maintaining the industry's competitiveness while addressing sustainability concerns.

Authors: Kunal Ahuja, Himanshu Kabra

Frequently Asked Questions (FAQ) :

The market size of squid reached USD 11.8 billion in 2023 and is set to expand at over 4% CAGR from 2024 to 2032, attributed to its versatility and unique flavor profile.

Fresh squid industry accounted for around 40% of the revenue share in 2022, owing to its increasing preference among consumers in prioritizing the quality and taste in its most natural form.

Asia Pacific market held around 53% of the revenue share in 2022, due to the ongoing partnerships and integrations among the regional players.

Some well-known firms are Xiamen Taiseng Seafoods CO., LTD., Qingdao Seaflying Food Co., Ltd., Minh Khue Seafood, Thai Union Group, Lee Fishing Company, Pescanova, Holt Seafood, Seaquest Seafood Corporation Holmes Seafood Bigsams Seafood, Seafood Pride International, and Freshkatch.