Global Carp Market - 2022-2029

Global Carp Market - 2022-2029

Market Overview

The global carp market was valued at USD XX million in 2021. It is forecasted to reach USD XX million by 2029, growing at a CAGR of XX% during the forecast period (2022-2029).

Carp is a greenish-brown fish species that belongs to the Cyprinidae family and is found primarily in freshwater waters. Carp is an excellent source of omega-3 fatty acids, lean proteins, vitamins, and minerals. As a result, it provides several health benefits such as maintaining good heart health, increasing immunity, alleviating respiratory difficulties, strengthening bones and teeth, and improving vision among others. 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 carp around the globe.

Market Dynamics:

Increasing consumer preference for protein-rich diets rather than high-calorie food

Carp is a delicious and widely consumed fish in many world areas. It offers many health benefits, including the capacity to promote heart health, reduce inflammation, protect lung health, improve digestive function, delay the aging process, and ward off chronic disease. Carps are abundant in healthy fatty acids, protein, antioxidants, and minerals and vitamins that the body requires to function correctly, including phosphorous and vitamin B12. Carp are extremely valued as a source of dietary protein because of its unique nutritional profile. According to Cornell University and the New York Sea Grant Extension Program, fatty acids help improve cardiovascular function by lowering blood pressure and heart rate.

Furthermore, technological advancements in the cold chain, shipping and distribution channels, and a rise in the production of fish products around the world, have all contributed to the increased consumption of carp fish products. In addition, the growing number of fish trading operations and the expanding aquaculture sector around the world are driving the global market.

Market Segmentation:

Grass segment accounted for the highest share in global carp market

In 2021, the grass sector accounted for over XX percent of the global carp market revenue, and it is predicted to grow at a CAGR of XX percent. The market is expected to increase in the forecast period due to the rising popularity of grass-fish meals as people become more health-conscious. Furthermore, the rising demand for fish products due to increased consumption will minimize the risk of chronic diseases. Furthermore, rising grass product consumption and production in developing nations such as India, China, and Indonesia move this industry forward.

In 2021, hypermarkets and supermarkets accounted for more than XX percent of the global carp market. Carp suppliers sell their products using standard retail channels such as word of mouth, advertising, and marketing. Consumers are increasingly choosing hypermarkets and supermarkets to buy goods, foods, and seafood because they can physically inspect the products on display. Due to improved distribution channel networks worldwide, hypermarkets and supermarkets are likely to stay prominent in the forecast period. With a CAGR of XX percent over the forecast period, the online segment of the carp market is expected to develop the fastest during the forecast years. Because of the high internet penetration rate, consumers increasingly use the e-commerce industry to purchase food and other necessities. Several carp producers have products available on their websites and e-commerce platforms, indicating that the market will increase over the projection period.

Geographical Penetration:

Asia Pacific is the fastest growing region during the forecast period

Due to increased demand for protein-rich fish items in countries like China, India, and Indonesia, Asia Pacific contributed the most to the worldwide carp market in 2021, contributing approximately XX percent. Consumers are increasingly inclined towards a healthy lifestyle, and rising disposable income fuels the demand for healthful and nutritious foods. This has resulted in increased manufacturing of carp items, particularly in China and India, which have large consumer bases for food products.

North America is the fastest-growing carp market, with a CAGR of XX percent projected during the forecast period. The market is growing due to rising awareness of the health benefits and rising popularity due to sustainability. Furthermore, increased health concerns about premature skin aging, bone health, and the high prevalence of cardiovascular disorders in this region are driving up demand for fish products. The growing demand for premium quality food products due to freshness, variety, and convenience for food safety is likely to drive market expansion over the forecast period.

Competitive Landscape:

The market is fragmented, with established market players and suppliers of carp located all over the world. Priory Fishery Ltd, Hampshire Carp Hatcheries, Quintons Orchard Fish Farm, and VS Fisheries are some of the key players in the market. Various organizations are expanding their investment in geographical expansion, distribution channels, and production capacity increase to retain their brand image and market position. For example, the Environment Agency has put over USD 65,000 into 12 projects in Hampshire and Sussex. This money will go toward improving fisheries and increasing fish stocks.

COVID-19 Impact: Negative impact on the global carp market

The lockdown implemented during the COVID-19 outbreak disrupted transportation and temporarily halted the supply of fish food products. Measures resulting from COVID-19 regulations have the potential to disrupt or stop aquaculture and fishing supply networks. Unsold carp production has increased quantities of live fish stocks in aquaculture. Furthermore, it has increased the expense of feeding and increased the risk of fish mortality worldwide. However, the rising demand for fish products following the COVID-19 pandemic would provide chances for market participants. As a result, the market is likely to grow at a healthy rate in the future years.