growing popularity of sushi and squid-based dishes in developed countries is driving the Squid Market
Technavio analyzes that the Squid Market is expected to grow at a CAGR of 4.63% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 2.85 billion.There are various factors that contribute to the growth of the market. The increasing preference for sushi and squid-dishes in developed countries signifies a significant trend in global gastronomy. Squid, a versatile and nutritious seafood, is increasingly being incorporated into various culinary creations beyond traditional Japanese cuisine. Its adoption in Western cuisines, particularly in Europe and North America, underscores the growing popularity of these dishes among diverse populations. This trend is expected to continue, driven by the unique taste and health benefits associated with squid.
The fresh segment of the global squid market experienced notable growth in 2023, accounting for a substantial market share. This expansion can be attributed to the rising trend of using fresh squid as a nutritious alternative to other protein sources. Consumers are increasingly recognizing the health benefits of squid, which includes its role in bolstering the immune system and offering heart protection through vitamins B12 and B6. Furthermore, squid contains selenium and vitamin E, essential nutrients for overall well-being. The health advantages of squid, particularly its rich content of docosahexaenoic acid (DHA), have become increasingly relevant for individuals managing health risks such as rheumatoid arthritis and heart diseases. However, it is crucial to note that potential health concerns, such as mercury levels and allergies, particularly shellfish allergies, must be considered when incorporating squid into one's diet. Despite these considerations, the fresh squid market continues to thrive, driven by growing awareness and the nutritional value it offers.
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Squid Market Segmentation
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Squid, a popular seafood, is the base for dishes like calamari, which can be fried, chopped, or breaded. This nutritious food is rich in protein, Omega-3 fatty acids, and various essential nutrients. A serving size offers calories, healthy amounts of fat, and carbohydrates with fiber, Vitamin C, Iron, and Calcium. Health benefits include support for healthy pregnancy and heart health. DHA in squid aids brain development, while it may help reduce inflammation in rheumatoid arthritis. However, mercury levels and allergens, such as squid ink and shellfish, pose health risks. Best choices involve careful consideration of serving sizes and individual health concerns. Squid also offers antimicrobial properties.
The global squid market is classified as part of the larger packaged foods and meats market within the food products segment of the food, beverage, and tobacco industry, according to Technavio's market research. This market encompasses food processing vendors engaged in extending shelf life and eliminating microorganisms. The market's size is determined by the consolidated revenue of participating vendors. Notably, it excludes equipment manufacturers and producers of packaged beverages, including alcoholic and non-alcoholic varieties. Squid, a popular seafood item, is a significant contributor to the packaged foods and meats market. Processed squid products, such as those that are fried, chopped, or breaded, offer various nutritional benefits. These include high protein content and an abundance of omega-3 fatty acids. However, calorie counts can vary depending on the specific processing methods employed. As a value-added food item, squid's presence in the market underscores the growing consumer demand for convenient, nutritious, and flavorful meal options.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
Technavio Research
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