The global market for prepared or preserved cuttlefish and squid showed significant variation in 2023, with Peru holding a dominant share of 57.85%. Spain and Vietnam, while trailing in market share, displayed modest changes, with Spain increasing by 4.43% and Vietnam decreasing by 2.98%. Other notable increases included South Korea (9.78%) and Portugal (10.69%). The market experienced a high CAGR over the last five years, driven by key players like Peru, Spain, and Vietnam.
Future trends to watch include:
- Emerging markets like Australia showing a rapid increase of 45.53%.
- Potential growth from North American and Eastern European countries, marked by rising shares in the US and Austria.
- Continued dominance by Peru, with expectations of shifts in market dynamics due to sustainable fishing practices and shifting consumer preferences.
Top countries in Prepared or Preserved Cuttle Fish and Squid Exports Share by Country (US Dollars)
| # | 10 Countries | Percent | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Peru | 57.85 | 2023 | +22.45% | +7.5% | View data |
| 2 | 2 Spain | 18.46 | 2023 | +6.61% | +4.43% | View data |
| 3 | 3 Vietnam | 4.01 | 2023 | -0.16% | -2.98% | View data |
| 4 | 4 France | 3.8 | 2023 | +4.5% | +3.29% | View data |
| 5 | 5 Taiwan | 3.26 | 2023 | +4.05% | +4.54% | View data |
| 6 | 6 South Korea | 2.16 | 2023 | +2.34% | +9.78% | View data |
| 7 | 7 Italy | 1.3 | 2023 | +4.03% | +1.61% | View data |
| 8 | 8 Netherlands | 1.18 | 2023 | +11.25% | +0.12% | View data |
| 9 | 9 Denmark | 1.13 | 2023 | +2.77% | -1.1% | View data |
| 10 | 10 Portugal | 0.47 | 2023 | +2.16% | +10.69% | View data |
