Carp Market Rising With Growth In New Technology Trends Research By 2025

Posted by Mrudula Karmarkar on December 19th, 2022

The global carp market size is expected to reach USD 142.50 billion by 2028, registering a CAGR of 5.5% during the forecast period, according to a new report by Grand View Research, Inc. The rising health concerns towards premature skin aging, bone health, and high prevalence of cardiovascular diseases are accelerating the demand for carp fish around the globe.

The growing demand for premium quality food products due to freshness, diversity of the products, and convenience for food safety are expected to boost the market growth during the forecast period. Furthermore, continuously changing consumers’ dietary patterns and rapid urbanization has expected to boost the demand for protein-rich fish food products, accelerating the market growth. Additionally, technological advancement and development in the supply chain and cold chain of fish products have been projected to propel the market growth during the forecast period.

Moreover, a lockdown situation was observed during the COVID-19 pandemic, and it showed a slight decline in the carp market, owing to the suspended supply chain of the products in various countries. The increased consumer demand for packaged and frozen seafood products from the second quarter of 2020 is due to the rising demand for non-perishable food from the household. Aquaculture and fishery supply chains are susceptible to being disrupted or stopped by measures arising from COVID-19 restrictions.

The common segment is expected to expand with the fastest CAGR of 6.0% from 2022 to 2028. The common is an important source of sustainable seafood coupled with safe and nutritious fish for consumers is propelling the market growth. The increasing demand for common is due to valuable protein sources for human consumption has projected the growth of this segment in the forecast period.

The canned segment is anticipated to expand with the fastest growth rate of 5.9% throughout the forecast period. The growth of the market is mainly due to the increasing consumption of carp seafood due to several health benefits, such as reducing the risk of chronic diseases. In addition to this, continuously changing lifestyles and busy life schedules of consumers are demanding the processed seafood like canned carp, which in turn is gaining popularity among the consumers, thus leading to market growth.

The online segment of the carp market is expected to register the fastest growth during the forecast years, with a CAGR of 6.6%. The rising adoption of the e-commerce sector for the shopping of food products and essential products by consumers due to the internet penetration rate has witnessed a lucrative growth in recent years. Several suppliers of carp are offering products on their websites and the e-commerce platforms, which have projected the market growth during the forecast period.

The increasing demand and consumption of fish products in developed and developing economies is expected to promote market growth over the last few years. The rising health concerns towards premature skin aging, bone health, and the high prevalence of cardiovascular diseases are accelerating the demand for fish around the globe. In addition to this, the growing awareness about the health benefits of carp in reducing the risk of chronic diseases and balancing hormone levels are further expected to propel the market growth during the forecast period. Furthermore, changing lifestyles, rapid urbanization, and rising preference for healthy foods have projected market growth during the forecast period.

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The lockdown announced during the COVID-19 pandemic had disturbed transportation and suspended the supply of fish food products for a short duration. Aquaculture and fishery supply chains are susceptible to being disrupted or stopped by measures arising from COVID-19 restrictions. In aquaculture, the unsold production of the carp has resulted in increasing levels of live fish stocks. Further, it has created higher costs for feeding and risks of fish mortalities across the globe. Moreover, the increasing demand for fish products after the COVID-19 pandemic will create opportunities for the market players. Thus, the market is expected to witness a healthy market growth rate in the upcoming years.  

Moreover, the increasing demand for protein-rich diets instead of high-calorie food products from consumers is accelerating the demand for carp fish food products. Fish food is a low-fat source of protein, which is used for muscle building, and also contains vitamins, iron, omega-3 fatty acid, and B-12, which are anticipating the growth of the market. According to Food and Agriculture Organization (FAO), global fish food consumption has increased at a growth rate significantly above that of world population growth. This may accelerate the market growth during the forecast period.

Carp Market Report Highlights

  • Asia Pacific is expected to register the largest market share of more than 60% in 2021, owing to the high consumption of seafood like carp products in countries like India, Japan, and China
  • Common carp are expected to foresee the fastest growth, with a CAGR of 6.0% from 2022 to 2028, owing to valuable protein sources for human consumption
  • Hypermarkets and supermarkets' distribution channels held the largest market share in 2021, contributing over 40% of the total revenue due to well-established distribution networks across the globe
  • Canned is expected to witness the fastest growth, with a CAGR of 5.9% from 2022 to 2028, owing to several health benefits such as reducing the risk of chronic diseases

The consumption of carp fish products has been driven by technological development and advancement in the cold chain, shipping and distribution channel, and an increase in the production of fish products across the globe. In addition to this, the global market is majorly driven by the growing number of fish trade activities and the expanding aquaculture sector across the globe. Moreover, the growing demand for procced and packaged food is also accelerating the market growth during the forecast period.

The growing aquaculture sector in developing economies like China, India, and Indonesia is the major driving force of the market. In addition to this, the carp aquaculture market has been witnessing growth due to factors such as growing urbanization and increasing disposable income, which led to a rise in the consumption of protein-rich meat. The growing demand for premium quality food products due to freshness, diversity of the products, and convenience for food safety are expected to boost the market growth during the forecast period.

List of Key Players in the Global Carp Market

  • Priory Fishery Ltd
  • Hampshire Carp Hatcheries
  • Quintons Orchard Fish Farm
  • VS Fisheries
  • Anhui Fuhuang Sungem Foodstuff Group Co. Ltd.
  • Baiyang Investment Group Inc.
  • Coarse Fish UK
  • Greenwater Fish Farm
  • Dahu Aquaculture
  • Zhangzidao Group  

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Mrudula Karmarkar

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Mrudula Karmarkar
Joined: March 30th, 2020
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