The global squid market is witnessing steady growth due to rising seafood consumption, increasing consumer preference for protein-rich diets, and expanding international seafood trade.

According to Fortune Business Insights, the global squid market size was valued at USD 12.92 billion in 2025 and is projected to grow from USD 13.42 billion in 2026 to USD 18.15 billion by 2034, exhibiting a CAGR of 3.85% during the forecast period.

Growing demand for premium seafood products, advancements in seafood processing technologies, and the expansion of organized retail and foodservice industries are supporting market growth worldwide. Squid remains a popular seafood choice due to its nutritional value, versatility in culinary applications, and increasing availability in both fresh and processed forms.

What Is Driving the Squid Market?

Squid is a highly nutritious seafood product rich in protein, omega-3 fatty acids, vitamins, and essential minerals. It is widely consumed across Asia Pacific, Europe, and North America and is used in a variety of cuisines, including grilled dishes, fried calamari, sushi, soups, and ready-to-cook meals.

Growing consumer awareness regarding healthy eating habits and increasing demand for sustainable seafood products continue to support the market's long-term expansion.

Key Market Drivers

Rising Global Seafood Consumption

Consumers are increasingly choosing seafood as a healthier alternative to red meat due to its high nutritional value and lower fat content. Squid has become a preferred option because it provides quality protein while supporting balanced diets.

Growing urbanization and changing food preferences are further boosting seafood consumption across both developed and emerging economies.

Expansion of Foodservice Industry

Restaurants, hotels, quick-service restaurants (QSRs), and seafood specialty chains are continuously expanding their seafood offerings to meet changing consumer preferences.

The popularity of dishes such as fried calamari, grilled squid, seafood platters, and Japanese cuisine has significantly increased demand for squid products worldwide.

Technological Advancements in Seafood Processing

Modern freezing, packaging, and cold chain logistics technologies have improved product quality and shelf life. These advancements enable seafood producers to supply fresh and frozen squid products to international markets while minimizing food waste.

Improved processing methods also support the growing demand for value-added seafood products, including ready-to-cook and ready-to-eat squid.

Market Challenges

Despite positive growth prospects, the squid market faces several challenges.

Climate change, overfishing, and fluctuations in marine ecosystems can affect squid availability and harvesting volumes. Strict fisheries regulations and sustainability requirements may also impact production costs.

In addition, changing fuel prices, transportation expenses, and supply chain disruptions can influence global seafood trade and market profitability.

Emerging Opportunities

The growing emphasis on sustainable fishing practices presents significant opportunities for market participants.

Companies are investing in responsible sourcing, eco-friendly fishing methods, and traceability systems to meet increasing consumer demand for sustainably harvested seafood.

The rapid growth of e-commerce grocery platforms and online seafood retail is also expanding market accessibility. Consumers can now purchase fresh and frozen seafood products through digital channels with convenient home delivery services.

Furthermore, increasing demand for premium seafood products in emerging markets offers additional opportunities for manufacturers and exporters.

Regional Insights

Asia Pacific dominates the global squid market due to its strong seafood consumption culture, extensive fishing industry, and large processing capacity. Countries such as Japan, China, Indonesia, Thailand, and India remain major producers, exporters, and consumers of squid products.

Europe represents another important market, with countries including Spain, Italy, and Portugal demonstrating strong demand for squid in traditional Mediterranean cuisine.

North America continues to experience steady market growth due to increasing seafood consumption, expanding restaurant chains, and growing consumer awareness regarding healthy diets.

Latin America and the Middle East & Africa are gradually increasing seafood imports as disposable incomes rise and modern retail infrastructure expands.

Competitive Landscape

The global squid market is highly competitive, with companies focusing on sustainable sourcing, product quality, advanced processing technologies, and international distribution networks.

Leading manufacturers continue investing in seafood processing facilities, cold chain logistics, and export capabilities to strengthen their market positions.

Major companies operating in the global squid market include:

• KING FISH PRODUCTS PVT LTD. (India)
• Lee Fishing Co. (Taiwan)
• Maruha Nichiro Corporation (Japan)
• Mitsubishi Corporation (Japan)
• Mowi ASA
• Nippon Suisan Kaisha Ltd. (Japan)
• Nissui Corp. (Japan)
• PT. Sukses Lautan Indonesia (Indonesia)
• Super Royale Seafoods Intl Inc. (Philippines)
• Thai Union Group PCL (Thailand)

These companies continue expanding their product portfolios while emphasizing sustainability, food safety, and innovation in seafood processing.

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Future Outlook

The future of the squid market remains positive as consumer demand for nutritious seafood products continues to grow globally.

Technological advancements in aquaculture, seafood preservation, and supply chain management are expected to improve product availability and quality. Increasing investment in sustainable fisheries and responsible harvesting practices will further support long-term market stability.

The expansion of international seafood trade, premium seafood offerings, and convenience food products is expected to create new opportunities for market participants throughout the forecast period.

Conclusion

The global squid market is projected to grow steadily from USD 13.42 billion in 2026 to USD 18.15 billion by 2034, registering a CAGR of 3.85% during the forecast period.

Growing seafood consumption, rising health consciousness, expanding foodservice industries, and improvements in seafood processing technologies are expected to drive market growth. With continued investments from leading companies such as KING FISH PRODUCTS Pvt. Ltd., Maruha Nichiro Corporation, Mitsubishi Corporation, Nippon Suisan Kaisha Ltd., Nissui Corp., Thai Union Group PCL, and other major seafood producers, the squid market is expected to remain an important segment of the global seafood industry.

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