Global Squid Market to Reach USD 18.4 Billion by 2035, Driven by 3.8% CAGR Growth

 

The global squid market, valued at USD 12.7 billion in 2025, is projected to reach USD 18.4 billion by 2035, reflecting a 3.8% CAGR, driven by rising seafood demand, diversified product formats, and robust food supply chains. Steady consumption growth across Asia-Pacific, Europe, and North America continues to uplift commercial fishing, aquaculture, and value-added squid processing.

Growth momentum between 2021 and 2025 shows a consistent upward curve, with the market expanding from USD 10.5 billion to USD 12.7 billion, supported by stable catch volumes and expanding processing infrastructure. Increasing consumer awareness of protein-rich marine foods is accelerating the uptake of squid-based frozen meals, canned seafood, and restaurant-grade products.

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Market Outlook: A Stable, High-Value Seafood Category

From 2026 to 2030, the squid market is expected to advance from USD 12.7 billion to USD 15.8 billion, primarily supported by rising consumption of frozen squid and ready-to-eat formats. Between 2031 and 2035, market growth remains consistent, reaching USD 18.4 billion, with competitive shifts emerging due to alternative seafood categories and premiumization.

Quick Highlights

• Market Value (2025): USD 12.7 billion
• Forecast (2035): USD 18.4 billion
• Leading Type (2025): Cuttlefish (26.9%)
• Top Regions: North America, Asia-Pacific, Europe
• Major Players: Thai Union, Bigsams, Freshkatch, Holmes, Holt, Minh Khue, Pescanova, Xiamen Taiseng, and others

What Is Driving Squid Market Expansion?

Steady market growth is backed by:
• Rising protein-conscious diets
• Enhancement of cold-chain logistics
• Adoption of sustainable seafood sourcing
• Expansion of processed squid products, including seasoned, frozen, canned, and snack formats

Growing global preference for cleaner-label protein foods and expanding foodservice chains continue to elevate squid consumption across export-driven seafood markets.

Segmental Overview

The squid market is analyzed across type, category, packaging, distribution channel, and region.
By Type: Cuttlefish Leads Market Share

Cuttlefish captures approximately 26.9% of the squid market, supported by strong demand in Mediterranean and Asian cuisines. Stable processing value, premium pricing, and favorable export conditions are driving segment leadership.

By Category: Frozen Squid Dominates with 39.2% Share

The frozen seafood sector remains the largest consumer category, accounting for 39.2% of the market. Technological freezing methods enable longer shelf life, reduce waste, and support global logistics, positioning frozen squid as the most resilient and accessible seafood format.

By Packaging: Canned Squid Holds 34.7% Share

Canned squid continues to expand due to its ready-to-use appeal, extended ambient shelf life, and competitive use in export markets. Advancements in sterilization and flavor-retention packaging are boosting global demand.

Geographic Insights: Top Markets

China leads with a 5.1% CAGR, supported by seafood dominance and modern consumption trends. India follows at 4.8%, while European interest accelerates, with Germany and France expanding seafood imports and foodservice use cases. Retail penetration and restaurant growth continue to support market expansion in the UK and USA.

Country-wise CAGR Snapshot

• China: 5.1%
• India: 4.8%
• Germany: 4.4%
• France: 4.0%
• UK: 3.6%
• USA: 3.2%
• Brazil: 2.9%

Competitive Landscape

Competition focuses on product quality, traceability, pricing, and cold-chain efficiency. Key manufacturers are scaling frozen and processed squid products for foodservice, retail, and industrial channels.

Leading Global Players

• Thai Union
• Bigsams
• Freshkatch
• Holmes
• Holt
• Lee Fishing
• Minh Khue
• Pescanova
• Qingdao Seaflying Food
• Seafood Pride International
• Seaquest
• Xiamen Taiseng

Key Market Themes

• Rising popularity of squid-based snacks
• Sustainable sourcing as a brand differentiator
• Growth in quick-preparation frozen seafood
• Value-added squid formats gaining retail traction

Stay ahead with quarterly and annual data updates! https://www.futuremarketinsights.com/reports/squid-market

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