Global Octopus Market 2018-2022| Rise in Octopus Farming to Boost Growth| Technavio
LONDON--(BUSINESS WIRE)--Dec 28, 2018--The global octopus market is expected to post a CAGR of close to 3% during the period 2018-2022, according to the latest market research report by .
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Technavio has published a new market research report on the global octopus market from 2018-2022. (Graphic: Business Wire)
A key factor driving the growth of the market is the increasing demand for exotic meat. The increasing disposable income and evolving taste preferences of people worldwide have resulted in an increasing demand for octopus, and it is gaining popularity among exporters and chefs. Millennials form one of the major consumer segment for octopus, attributable to their inclination toward new tastes, flavors, and experiences. Their food habits are also characterized by healthier choices such as low-carb diets. These factors are augmenting the demand for octopus. The increasing use of octopus as exotic meat is, therefore, one of the drivers for the global market.
As per Technavio, the rise in octopus farming will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyses other important trends and market drivers that will affect market growth over 2018-2022.
Global octopus market: Rise in octopus farming
The demand for octopus is increasing, however, the number of octopus landings has been decreasing.. As inventories worldwide are becoming low, to bridge the supply-demand gap, many researchers are trying to achieve success in octopus farming. Common octopuses have high growth rates and a short life cycle, making them ideal for commercial aquaculture. Researchers are trying to create and simulate environments that improve the viability of octopuses conceived by artificial incubation under farming conditions.. Many advances have been made in this direction. Therefore, it is expected that the global octopus market will witness a positive outlook during the forecast period.
“The evolving taste of millennium’s, coupled with growing health concerns, is leading to the growing popularity of octopus meat. As octopus can be eaten raw, it has found quick popularity as an ingredient in poke bowls. Hawaiian poke bowls are a popular trend internationally; the inclusion of octopus as one of the ingredients is expected to help the market grow in the coming years,” says a senior analyst at Technavio for research on food.
Global octopus market: Segmentation analysis
This market research report segments the global octopus market by product (fresh and processed) and geographical regions (APAC, EMEA, and the Americas).
The APAC region led the market in 2017 with a market share of close to 44%, followed by EMEA and the Americas respectively. However, during the forecast period, the EMEA region is expected to register the highest incremental growth, followed by the Americas.
Technavio’s sample reports are free of charge and contain multiple sections of the report such as the market size and forecast, drivers, challenges, trends, and more.
Some of the key topics covered in the report include:
Market LandscapeMarket ecosystem Market characteristics Market segmentation analysis
Market SizingMarket definition Market size and forecast
Five Forces Analysis
Geographical SegmentationRegional comparison Key leading countries
Vendor LandscapeVendors covered Vendor classification Market positioning of vendors Competitive scenario
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PUB: 12/28/2018 10:40 AM/DISC: 12/28/2018 10:40 AM