Global Octopus Market: Overview
The global octopus market has witnessed an exponential rise in its growth, on account of the rising awareness about the healthy food consumption across the globe. Octopus is highly consumed in Southern European countries such as Spain and Italy. However, the extensive supply of octopus also comes from the countries including Indonesia and Mexico. The growth rates of the common octopuses are relatively high and also they have a short life-cycle, which makes them suitable for commercial aquaculture. Rising demand for nutrition rich octopuses are fueling growth in the global octopus market.
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From the perspective of products, the global octopus market is bifurcated into fresh and processed. Among these two segments, the processed meat segment accounts for the maximum share in the market. This is because of the growing consumers’ inclination towards tasty and healthy food. The report sheds light on the key growth drivers, opportunities, current trends, and pitfalls in the global octopus market. Moreover, the report acts as a true guideline, exclusively for the major stakeholders in the global octopus market.
Global Octopus Market: Notable Developments
Some of the recent developments help in accelerating the growth of the global octopus market in a big way include:
- Several companies in the global octopus market are trying to achieve success in octopus farming. They are relying on numerous advanced techniques in order to create and stimulate environments which improve the octopuses’ viability through artificial incubation.
- European companies take an initiative in the processing of octopus meat in order to make the meat tastier and healthier.
Key companies operating in the global octopus market include Galveston Shrimp Company, Thai Union Group, Pescanova Hellas, and Joe Patti’s Seafood Company.
Global Octopus Market: Key Growth Drivers
A few key drivers responsible for influencing the growth of the global octopus market in a positive way include:
Increasing Awareness Regarding High Nutritional Value of Octopus to Foster Growth
Octopus meat is enriched with a wide range of essential nutrients. The lean meat of octopus is rich in minerals, vitamins, and healthy fats. Additionally, it is a good source of Omega-3 fatty acids and trace minerals. These extensive nutritional values of octopus meat are majorly propelling expansion in the global octopus market. Besides this, rising global awareness about health and increasing demand for octopus meat across the globe are also stimulating the growth of the global octopus market. In addition, the presence of high iron content in octopus meat aids in keeping human’s immune system healthy. Moreover, this mineral helps in brain development and also facilitates cell growth. Such health advantages associated with octopus meat are also responsible for the steadfast growth of the global octopus market.
Growing Popularity of Octopus among Health-conscious People Boosts Market
Rapidly evolving taste of millennium’s, combined with rising health concerns globally is leading to the rising popularity of octopus meat. However, as octopus is mainly consumed in the raw form, it has gained its maximum popularity as a crucial ingredient in poke bowls. These factors are gardening the growth of the global octopus market. Moreover, a popular trend of Hawaiian poke bowls is also gaining traction in the global octopus market. Furthermore, consumption of octopus meat helps in reducing the chances of heart attacks and strokes due to the presence of Omega-3 fatty acids. Therefore, rapidly rising popularity of octopus meat, especially among the health-conscious consumers is providing a major impetus to the growth of the global octopus market.
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Global Octopus Market: Regional Outlook
On the regional front, APAC region showcases the highest share in the global octopus market as the region has witnessed increasing number of health-conscious people. Along with this, growing consumption of octopus meat in several emerging economics such as China and India is also responsible for fueling growth of the octopus market in this region.
The segmentation of global octopus market is based on:
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