Squid Market By Product Type (Fresh Squid, Frozen Squid, Processed Squid, Dried Squid), By Application (Food Industry, Pharmaceuticals, Cosmetics & Personal Care, Animal Feed & Aquaculture), By Species (Giant Squid, Humboldt Squid, Japanese Flying Squid, European Squid, Argentine Shortfin Squid, Market Squid, Others), By Distribution Channel (Supermarkets, Seafood Markets, Online Retail), Global Market Size, Segmental analysis, Regional Overview, Company share analysis, Leading Company Profiles, And Market Forecast, 2025 – 2035

Industry Outlook

The Squid market accounted for USD 12.5 Billion in 2024 and is expected to reach USD 20.50 Billion by 2035, growing at a CAGR of around 4.6% between 2025 and 2035. The squid market is the reference according to which squids are being traded and consumed worldwide, as food sources and for other purposes. Squid were generally captured from oceans, with major exporters being countries like China, Japan, and South Korea. The squid market consists of frozen, dried, and canned squid from Asia and Mediterranean countries because squid is popular in their cuisine. The squid trade also involves processing and distributing, influencing economies of coastal fishing areas. Demand varies depending on fishing yields along with environmental and consumer demand changes.

Report Scope:

Market Dynamics

Increasing global seafood demand, including squid, due to its rich nutritional value and growing health-conscious consumer base

Squid dishes are popular in this market because of their high nutritional content and health advantages. Low-fat protein seafood is growing more popular among customers, even if squid has been replacing traditional meat more and more. A surge in demand for sustainable seafood sources rich in nutrients like omega-3 fatty acids, vitamins, and minerals has arisen among health-conscious consumers. Squid is a popular food in Asia-Pacific, Europe, and North America, where seafood is a huge part of many diets. The expansion of processed seafood comprising frozen squid, canned squid, and ready-to-eat meals also draws more market growth.

Consumers are now aware of healthy food habits, and people are more inclined toward lean seafood proteins that have boosted squid market sales through restaurants, retail markets, and online. The HoReCa (Hotels, Restaurants, and Catering) sector is making diverse use of squid in cuisines worldwide. Furthermore, good fishing technologies and aquaculture methods facilitate squid movement, ensuring that there is enough supply to overwhelm its increased demand. The export market of squid has equally taken an increasing trend, especially in China, Japan, Spain, Italy, and the USA. Nevertheless, sustainable fishing practices, marine conservation, and climate change hold significant importance in maintaining an ecosystem balance.

Growth in processed seafood products, including frozen and ready-to-eat squid, driving market expansion globally

With tremendous growth, the processed seafood market has observed an increased demand for frozen and ready-to-eat squid products globally. Consumers prefer convenient, easy-to-cook seafood foods, which led to the increased presence of value-added squid products in supermarkets, restaurants, and online platforms. Rapid urbanization and busy lifestyles have aided the consumption of ready-to-eat seafood, and squid is fast becoming a favored condiment in McDonald's, KFCs, and even home kitchens. Various advancements in technology have been adopted for processing squid, including freezing, vacuum packing, and canning, which have helped to improve the shelf life and quality of squid-processed products.

The processed squid markets in Asia-Pacific, Europe, and North America are the largest. Other consumer countries are China, Japan, Spain, Italy, and the US. The HoReCa sector has bolstered market growth, as squid-based dishes are gaining popularity in international cuisines. E-commerce platforms and online seafood retail are helping push squid sales by providing easy access for consumers to frozen and processed seafood.

Unsustainable fishing practices threaten squid populations, causing supply shortages and affecting long-term market stability

The unsustainable methods of fishing have become a significant threat to the trade of squid since overfishing dwindles squid populations and disturbs marine ecosystems. Excessive harvesting, methods that violate the law for fishing, and the lack of proper management of fisheries put the squid supply intermittently under pressure to meet the growing demand worldwide. Countries that heavily rely on wild squid catching, like China, Japan, Spain, and the USA, face varying volumes of catches impacting price and market stability.

The situation is compounded by climate change that brings about ocean temperature changes and squid migrations, which brings squid presence down even further. With availability shrinking, the market becomes very volatile, and sudden price spurts catch seafood suppliers, HoReCa businesses, and consumers unawares. To restore the squid stocks, the governments and NGOs promoting environmental conservation are advocating for sustainable fishing practices, such as catch limits, marine conservation zones, and responsible aquaculture.

Adopting eco-friendly fishing techniques ensures long-term squid supply, attracting environmentally conscious consumers and investors

Eco-friendly fishing practices must be adopted for the maintenance of sustained squid supply for long-term market stability and marine biodiversity protection. Environmental concerns have led to the increasing shift of governments and seafood companies toward sustainable fishing practices, including the principles of selective fishing, bycatch reduction methods, and regulated fishing quotas. These prevent squid populations from depleting while creating a constant supply for the global seafood market.

Consumers are becoming increasingly aware of the ecological impact of seafood sourcing. This growing awareness has led to a demand for sustainably caught squid, with eco-friendly markets valuing products certified by the Marine Stewardship Council (MSC) or Aquaculture Stewardship Council (ASC) as more valuable. Sustainable fisheries thus receive support from these seafood companies. Further, businesses implementing responsible sourcing strategies attract investors and add to the significance of sustainability and ethical working practices for growth in the squid market.

Rising seafood demand in developing countries presents lucrative growth opportunities for squid exporters and distributors.

Developing nations have led to soaring seafood demand and a boom for squid exporters and distributors worldwide. With economic prosperity and increasing disposable income, people in Asia, Africa, and Latin America are now consuming more and more seafood in their diet, augmenting the demand for squid-based products. With the expansion of the middle-class population in these regions, an increase in consumption of premium and processed seafood has intervened, which includes all forms such as frozen and ready-to-eat squid.

The Governments of these developing countries are also providing a paradigm for aquaculture and seafood trade, thus bringing a new dimension to the supply chain infrastructure for imported and locally sourced squid products. Rapid growth in the HoReCa sector in these regions bolsters squid demand for multiple cuisines. Besides, increasing use of e-commerce and online seafood retail platforms is creating consumer accessibility to squid products and thereby increasing the opportunity for market expansion.

Industry Experts Opinion

"Our strategic acquisition in the squid sector positions us at the forefront of South Africa's squid market. With growing global demand, we see immense opportunities in sustainable sourcing and efficient supply chain management to meet consumer expectations.

• Sooren Ramdenee, CEO of Premier Fishing & Brands Ltd.

Segment Analysis

Based on the product type, the Squid market has been classified into Fresh Squid, Frozen Squid, Processed Squid, and Dried Squid. The frozen squid segment is considered to be the market leader in the global squid market owing to its longer shelf life, less handling, and highly lucrative demands in trade internationally. Frozen squid is preferred in the food service sector, retail, and the processed seafood industry, thus guaranteeing a steady supply and year-round availability. Asia-Pacific, Europe, and North America are the biggest consumers of frozen squid, thus defending its rule in the market. Advances in freezing technology and cold-chain logistics will continue to play a role in reinforcing the dominance of frozen squid over other types of squid products.

Based on the Application, the Squid market is classified into the Food Industry, Pharmaceuticals, Cosmetics & Personal Care, Animal Feed & Aquaculture. The food industry is the dominant segment in the worldwide squid market, holding the major share due to huge consumer demand for squid-based seafood products. Squid finds extensive uses in restaurants, processed seafood, and home cooking, mainly in the Asia-Pacific region, Europe, and North America. This market is further assisted by the growing acceptance of ready-to-eat and frozen squid products. Although other applications such as pharmaceuticals, cosmetics, or animal feed are growing into important segments, the food industry will remain the key market driver.

Regional Analysis

The Asia-Pacific squid market has a significant share worldwide due to rich marine resources and a growing demand for seafood. For exports, squid is consumed mainly in Japan, South Korea, China, and Thailand and is an important item subject to traditional consumption and the increasing taste for processed forms of squid. The current surge in food service operations, particularly those involving sushi and seafood platters, is directly linked to demand in the region.

Technological advancements in cold storage and fishing methods have improved the year-round availability of squid. To protect squid fisheries, some nations have tightened their laws governing ethical fishing methods in response to a greater focus on sustainability. Similarly, frozen and value-added squid products have made significant contributions to the market expansion to meet export demands worldwide. Due to abrupt changes in supply and competition from other seafood sources, climate change may cause market stability to be disrupted. Nevertheless, it is a sustainable fact that the Asia-Pacific squid market continues to be dynamic, driven by both local and international trade.

The European squid market has been steadily growing due to the increasing demand for seafood and the rising popularity of Mediterranean and Asian cuisines. Particularly in Spain, Italy, and Greece, where consumption is concentrated, squid is a key component of traditional meals in these nations. Wild and aquaculture-farmed squid species are sold in the market and the former are major imports from nations like Argentina and Peru. As customers start to seek sustainable seafood options, the relevance of sustainability and ecological practices has increased, as has the significance of sustainability certification. Owing to its attractiveness to busy consumers seeking expediency without compromising quality, the demand for frozen and ready-to-eat squid products has been increasing.

Competitive Landscape

The squid market is competitive and dominated by giants like Neerlandia Urk, Congalsa, Grupo Alfrio, Bidfood, Sea Farms Ltd., Export Packers, and Netuno. They play a major role in production, processing, and distribution. Neerlandia Urk and Congalsa are remembered for their large-scale seafood operations in contrast to Grupo Alfrio and Bidfood whose market extends across the globe to ensure unfailing supply chains. Similarly, Sea Farms Ltd. and Export Packers focus on the sustainability of fisheries to meet rising consumer demand for eco-friendly products. The most recent announcement is that of the investment made by Netuno in new technology to make squid preservation methods more effective, redesigning competition in the industry. This whole scenario is characterized by recent advances in logistics and a growing orientation towards more traceability and quality control along the entire supply chain.

Squid Market, Company Shares Analysis, 2024

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Recent Developments:

• In February 2024, squid prices in the Southeast Pacific saw a significant rise, with some products reaching up to 25,000 yuan per ton due to limited supply and higher demand. Meanwhile, prices in the Southwest Atlantic slightly decreased because of increased fishing activity.
• In January 2024, Premier Fishing SA expanded its presence in South Africa's squid market by acquiring Talhado Fishing Enterprises, the country's largest squid producer. This acquisition strengthened Premier Fishing’s production and processing capabilities.

Report Coverage:

By Product Type

• Fresh Squid
• Frozen Squid
• Processed Squid
• Dried Squid

. By Application

• Food Industry
• Pharmaceuticals
• Cosmetics & Personal Care
• Animal Feed & Aquaculture

 By Species

• Giant Squid
• Humboldt Squid
• Japanese Flying Squid
• European Squid
• Argentine Shortfin Squid
• Market Squid
• Others

By Distribution Channel

• Supermarkets
• Seafood Markets
• Online Retail

By Region

North America

• U.S.
• Canada

Europe

• U.K.
• France
• Germany
• Italy
• Spain
• Rest of Europe

Asia Pacific

• China
• Japan
• India
• Australia
• South Korea
• Singapore
• Rest of Asia Pacific

Latin America

• Brazil
• Argentina
• Mexico
• Rest of Latin America

Middle East & Africa

• GCC Countries
• South Africa
• Rest of the Middle East & Africa

List of Companies:

• Neerlandia Urk
• Congalsa
• Grupo Alfrio
• Bidfood
• Sea Farms Ltd.
• Export Packers
• Netuno
• The Town Dock
• Panapesca
• Beaver Street Fisheries
• Lund’s Fisheries
• Sun Coast Calamari
• Crocker and Winsor Seafoods
• Ocean Treasure
• Dongwon Industries Co., Ltd.

Frequently Asked Questions (FAQs)