(MENAFN- GlobeNewsWire - Nasdaq) Dublin, Aug. 28, 2024 (GLOBE NEWSWIRE) -- The "Global Carp market by Type (Bighead Carp, Common Carp, Crucian Carp), Form (Canned, Fresh, Frozen), Sales channel - Forecast 2024-2030" report has been added to ResearchAndMarkets.com's offering.
The Carp Market grew from USD 106.62 billion in 2023 to USD 112.48 billion in 2024. It is expected to continue growing at a CAGR of 5.63%, reaching USD 156.46 billion by 2030.
Growing consumer demand for organically farmed carp, which adheres to stringent farming practices free from chemicals and genetically modified organisms (GMOs) may create growth potential in the market. The development of processed products such as ready-to-cook meals, smoked preparations, and health-centric offerings could cater to changing consumer preferences, generating opportunities for market expansion. However, carp farming often faces criticism for potentially harmful impacts on local ecosystems, such as water pollution and displacement of native fish species, limiting the market scope. Issues such as mercury contamination and other pollutants may harm consumer perceptions, impacting demand adversely and creating challenges for market growth.
Regional Insights
In the Americas region, the United States and Canada have a relatively small carp market mainly driven by immigrant communities and niche consumers. Interest in carp is increasing in the United States slightly as local chefs seek sustainable and locally sourced options. Carp is generally underutilized in Canada, with some interest in areas where it is caught as a byproduct of other fishing activities. T
he market dynamics vary significantly across the EMEA region with differences in consumer preferences and regulatory environments. Countries including the Czech Republic, Poland and Slovakia have a robust market for carp, especially during festive seasons. There is limited commercial interest in carp in the Middle East region, with some regional consumption depending on immigrant populations and localized aquaculture projects. In Africa, interest in carp farming is growing to increase food security and provide employment.
The high population density and traditional inclusion of carp in the diet make the Asia-Pacific region the largest consumer of carp globally. China leads in both consumption and production, supported by a long history of aquaculture. Japan emphasizes on premium carp products, often linked to cultural festivities, driving a niche market for specific carp breeds. India is witnessing growth in carp consumption due to rising incomes and expanding market penetration.
Recent Developments
Strategic Expansion of Aquaculture in Saudi Arabia, NEOM and Tabuk Fisheries Launch Topian Aquaculture
In a significant development for Saudi Arabia's aquaculture sector, NEOM has partnered with Tabuk Fisheries to create Topian Aquaculture, set to host the largest hatchery in the MENA region. This strategic move underscores both entities' commitment to integrating innovative aquaculture technologies, enhancing the local supply of fresh, nutritious seafood, and contributing to Saudi Arabia's self-sufficiency in food production.
Expansion of Kingfish Company's Dutch Yellowtail Production in Zeeland
The Kingfish Company is set to enhance its Dutch Yellowtail fish farming operations in Zeeland, following an increase in funding, encompassing the construction of a new pumping station and an additional nursery under the project's second phase. The company, which received initial support from Impuls Zeeland and other local agencies, leverages controlled breeding environments to sustainably manage the life cycle of the fish, starting from larvae. This strategic scale-up aims to bolster production to meet rising market demand, steering the company towards operational profitability.
Enhancing Indonesia's Fisheries, Smart Fisheries Village Initiative
In Indonesia, the vital role of small-scale and traditional fishers in national fish production is being recognised and supported through the government's expansion of the Smart Fisheries Village (SFV) program. With the fisheries sector employing around 12 million people and contributing significantly to its status as one of the significant marine producers, this initiative seeks to improve productivity, sustainability, and the socioeconomic well-being of fishing communities.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 186 |
| Forecast Period | 2024 - 2030 |
| Estimated Market Value (USD) in 2024 | $112.48 Billion |
| Forecasted Market Value (USD) by 2030 | $156.46 Billion |
| Compound Annual Growth Rate | 5.6% |
| Regions Covered | Global |
Market Insights
Market Segmentation Analysis
Type: Rising preference for bighead carp variety for high-protein content Sales Channel: Increasing convenience due to online retail channels
Market Drivers
Increasing awareness regarding the health benefits of carp Growing investments in aquaculture across economies
Market Restraints
Fluctuating price of carp affecting consumption
Market Opportunities
Potential production of organic fertilizers from carp Continuous improvements in cold-chain technologies and distribution channels
Market Challenges
Availability of alternatives and substitute products
Industry Insights
Market Disruption Analysis Porter's Five Forces Analysis Value Chain & Critical Path Analysis Pricing Analysis Technology Analysis Patent Analysis Trade Analysis Regulatory Framework Analysis
Key Company Profiles
Baiyang Investment Group Inc. Coarse Fish UK Dahu Aquaculture Fishing Adventure Greenwater Fish Farm Hampshire Carp Hatcheries MaxiFish LLC Priory Fishery Ltd. Quintons Orchard Fish Farm VS Fisheries Zhangzidao Group
Market Segmentation & Coverage
Type
Bighead Carp Common Carp Crucian Carp Grass Carp Silver Carp
Form
Sales Channel
Aquaculture Farms Fish Processing Companies Local Fish Markets Online Retailers Supermarkets & Grocery Stores
Region
Americas
Argentina Brazil Canada Mexico United States California Florida Illinois New York Ohio Pennsylvania Texas
Asia-Pacific
Australia China India Indonesia Japan Malaysia Philippines Singapore South Korea Taiwan Thailand Vietnam
Europe, Middle East & Africa
Denmark Egypt Finland France Germany Israel Italy Netherlands Nigeria Norway Poland Qatar Russia Saudi Arabia South Africa Spain Sweden Switzerland Turkey United Arab Emirates United Kingdom
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