Sandfish Market Share, Size, Trends, Industry Analysis Report, By Application (Food Service, Food Processing, Medical Applications, and Others); By Region; Segment Forecast, 2023 - 2032

Sandfish Market Share, Size, Trends, Industry Analysis Report, By Application (Food Service, Food Processing, Medical Applications, and Others); By Region; Segment Forecast, 2023 - 2032

The global sandfish market size is expected to reach USD 4161.79 million by 2032, according to a new study by Polaris Market Research. The report “Sandfish Market Share, Size, Trends, Industry Analysis Report, By Application (Food Service, Food Processing, Medical Applications, and Others); By Region; Segment Forecast, 2023 - 2032” gives a detailed insight into current market dynamics and provides analysis on future market growth.

Sandfish is considered a superfood due to its high nutritional value and potential health benefits. The health benefits of sandfish are primarily attributed to its high protein content and the presence of bioactive compounds, such as triterpene glycosides, chondroitin sulfate, and other polysaccharides. For example, in July 2022, Sandfish, one of the biggest grazers in the Doring River system of South Africa, maintain the rivers' cleanliness and the balance of the food chain. Additionally, they serve as an umbrella species, so defending them also defends the river ecosystems and the other species that live there. The potential health benefits of sandfish are driving the growth of the global market.

The global demand for seafood is increasing due to the growing population, rising disposable incomes, and changing dietary preferences. This is likely to boom the growth of the market. Sandfish is a popular ingredient in Asian cuisine, which is gaining popularity worldwide, especially in Western countries. Also, it is a natural source of glucosamine, a compound that is commonly used to support joint health and reduce joint pain.

Moreover, the high protein content in sandfish can help to promote wound healing and tissue repair hence it is widely used across medical applications. Further, advancements in aquaculture technologies, such as closed-loop systems, are helping to increase production efficiency, reduce costs, and improve product quality, which is driving the growth of the sandfish market.

Many governments around the world are promoting aquaculture as a sustainable and profitable industry, which is expected to drive the growth of the global market. In June 2022, Aqua farmers requested assistance from the government of India to regulate fish farming in the State so that they are paid fairly for their produce and that fair practices are upheld. Also, in May 2020, the Indian government committed to a financial support program to ensure the survival of its fishing industry. In addition to above-mentioned facts, in January 2022, the green transition in the fish and aquaculture industries is supported by more than 12 million euros from the Portuguese government. Such initiatives taken by government of various governments to promote aquaculture is fundamentally augmenting the growth of sandfish market all over the world.

Sandfish Market Report Highlights

Food processing is accounting larger market share of global revenue in the fiscal year 2022. This is due to the huge use of sandfish for the production of sea cucumber products such as dried sea cucumber, sea cucumber extract, and sea cucumber powder

Asia Pacific held the largest share of the global market by the end of 2022 due to the growing adoption and consumption of sandfish in the region as it is mostly available in the Asia Pacific region

The global sandfish market involves Indian Ocean Trepang, Tasmanian Seafoods, Joo Hwa Food, Aik Lee Dried Seafood, Seawijh Indonesia, Seychelles Aquaculture, National Aquaculture Group, and Vietnam Sea Ginseng and others

Polaris Market Research has segmented the Sandfish market report based on application, and region:

Sandfish, Application Outlook (Revenue - USD Million, 2019-2032)

Food Service

Food Processing

Medical Applications

Others

Sandfish, Regional Outlook (Revenue - USD Million, 2019-2032)

North America

U.S.

Canada

Europe

Germany

UK

France

Italy

Spain

Russia

Netherlands

Asia Pacific

China

India

Japan

South Korea

Indonesia

Malaysia

Latin America

Argentina

Brazil

Mexico

Middle East & Africa

UAE

Saudi Arabia

Israel

South Africa