Carp Market Size, Share & Trends Analysis Report By Species (Grass, Silver, Common, Bighead, Catla), By Form (Frozen, Canned), By Distribution Channel, By Region, And Segment Forecasts, 2022 - 2028

Report Overview

The global carp market size was valued at USD 98.63 billion in 2021 and is expected to expand by 5.5% from 2022 to 2028. 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 fish around the globe. In addition to this, the growing awareness about the health benefits of carp in reducing the risk of chronic diseases and balancing hormone levels are further expected to propel the market growth during the forecast period. Furthermore, changing lifestyles, rapid urbanization, and rising preference for healthy foods have projected market growth during the forecast period.

The lockdown announced during the COVID-19 pandemic had disturbed transportation and suspended the supply of fish food products for a short duration. Aquaculture and fishery supply chains are susceptible to being disrupted or stopped by measures arising from COVID-19 restrictions. In aquaculture, the unsold production of the carp has resulted in increasing levels of live fish stocks. Further, it has created higher costs for feeding and risks of fish mortalities across the globe. Moreover, the increasing demand for fish products after the COVID-19 pandemic will create opportunities for the market players. Thus, the market is expected to witness a healthy market growth rate in the upcoming years.  

Moreover, the increasing demand for protein-rich diets instead of high-calorie food products from consumers is accelerating the demand for carp fish food products. Fish food is a low-fat source of protein, which is used for muscle building, and also contains vitamins, iron, omega-3 fatty acid, and B-12, which are anticipating the growth of the market. According to Food and Agriculture Organization (FAO), global fish food consumption has increased at a growth rate significantly above that of world population growth. This may accelerate the market growth during the forecast period.

The consumption of carp fish products has been driven by technological development and advancement in the cold chain, shipping and distribution channel, and an increase in the production of fish products across the globe. In addition to this, the global market is majorly driven by the growing number of fish trade activities and the expanding aquaculture sector across the globe. Moreover, the growing demand for procced and packaged food is also accelerating the market growth during the forecast period.

The growing aquaculture sector in developing economies like China, India, and Indonesia is the major driving force of the market. In addition to this, the carp aquaculture market has been witnessing growth due to factors such as growing urbanization and increasing disposable income, which led to a rise in the consumption of protein-rich meat. The growing demand for premium quality food products due to freshness, diversity of the products, and convenience for food safety are expected to boost the market growth during the forecast period.

Distribution Channel Insights

The hypermarkets and supermarket channels contributed a share of over 40% in the global carp market in 2021. Suppliers of carp products use the traditional retail channel for sales through word of mouth publicity, advertising, and marketing. Increasingly, consumers are preferring hypermarkets & supermarkets when purchasing goods, groceries, and seafood, as they can physically verify the quality of the products on display. Hypermarkets & supermarket channels are expected to remain dominant in the forecast period due to improved distribution channel networks across the globe.

The online segment of the carp market is expected to register the fastest growth during the forecast years, with a CAGR of 6.6% from 2022 to 2028. The rising adoption of the e-commerce sector for the shopping of food products and essential products by consumers due to the internet penetration rate has witnessed a lucrative growth in recent years. Several suppliers of carp are offering products on their websites and the e-commerce platforms, which have projected the market growth during the forecast period.

Species Insights

The grass segment contributed to the largest share of over 20% of the global carp market revenue in 2021 and is expected to expand with a CAGR of 5.8% from 2022 to 2028. The rising popularity of grass-fish food due to growing awareness about health consciousness among the consumers has projected the market growth in the forecast period. In addition to this, the increasing demand for fish products due to the consumption of these products will reduce the risk of chronic diseases. Moreover, increasing consumption and production of grass products in developing economies like India, China, and Indonesia is propelling the growth of this segment.

The common segment is expected to register the fastest CAGR of 6.0% from 2022 to 2028. The common is an important source of sustainable seafood coupled with safe and nutritious fish for consumers is propelling the market growth. The increasing demand for common is due to valuable protein sources for human consumption has projected the growth of this segment in the forecast period. Moreover, the growing consumption of silver carps due to the increasing expansion of the aquaculture sector across the globe is further accelerating the market growth.    

Form Insights

The frozen segment contributed to the largest share of over 55% of the global carp market revenue in 2021 and is expected to expand with a CAGR of 5.1% from 2022 to 2028. The increasing demand for processed and packaged seafood across the globe has driven market growth over the last few years. Furthermore, consumer preference for seafood rich in protein has significantly increased the demand for frozen carp. Moreover, the growing working population across the globe has expected to accelerate the market growth during the forecast period.

The canned segment is anticipated to expand with the fastest growth rate of 5.8% throughout the forecast period. The growth of the market is mainly due to the increasing consumption of carp seafood due to several health benefits, such as reducing the risk of chronic diseases. In addition to this, continuously changing lifestyles and busy life schedules of consumers are demanding the processed seafood like canned carp, which, in turn, is gaining popularity among the consumers, thus leading to market growth.

Regional Insights

Asia Pacific made the largest contribution to the global carp market of around 60% in 2021 due to the high consumption in countries like China, India, and Indonesia owing to the rising demand for protein-rich seafood products. Consumers are inclined toward a healthy lifestyle, and the increasing disposable income of people is boosting the demand for healthy and nutritious food products. Especially in China and India, which have a huge consumer base for food products, this has further shown growth in the production of carp products.

Central & South America is the fastest-growing carp market and is expected to witness a CAGR of 6.0% from 2022 to 2028. The increasing awareness about the health benefits and rising popularity due to sustainability are propelling the market growth. Moreover, the rising health concerns regarding premature skin aging, bone health, and the high prevalence of cardiovascular diseases are accelerating the demand for fish products in this region. The growing demand for premium quality food products due to freshness, diversity of the products, and convenience for food safety are expected to boost the market growth during the forecast period in this region.

Key Companies & Market Share Insights

The market is fragmented with the presence of various established market players and suppliers of the carp across the globe. Some of them are Priory Fishery Ltd, Hampshire Carp Hatcheries, Quintons Orchard Fish Farm, and VS Fisheries, coupled with numerous domestic players along with an existing strong distribution channel. For an instance, Environment Agency has invested just over USD 65,000 towards 12 projects across Hampshire and Sussex. This funding will be helped to enhance fisheries and boost fish stocks. Various companies are increasing their investment in geographical expansion with distribution channels and production capacity expansion to maintain their brand image and market position. Some of the key players operating in the global carp market include:

• Priory Fishery Ltd

• Hampshire Carp Hatcheries

• Quintons Orchard Fish Farm

• VS Fisheries

• Anhui Fuhuang Sungem Foodstuff Group Co. Ltd.

• Baiyang Investment Group Inc.

• Coarse Fish UK

• Greenwater Fish Farm

• Dahu Aquaculture

• Zhangzidao Group

Carp Market Report Scope

Segments Covered in the Report 

This report forecasts revenue growth at global, regional & country levels and provides an analysis of the latest trends and opportunities in each of the sub-segments from 2017 to 2028. For this study, Grand View Research has segmented the global carp market report based on species, form, distribution channel, and region:

• Species Outlook (Revenue, USD Billion; 2017 - 2028)

  • Grass

  • Silver

  • Common

  • Bighead

  • Catla

  • Others

• Form Outlook (Revenue, USD Billion; 2017 - 2028)

  • Frozen

  • Canned

• Distribution Channel Outlook (Revenue, USD Billion; 2017 - 2028)

  • Hypermarkets and Supermarkets

  • Convenience StoreOnline

  • Others

• Regional Outlook (Revenue, USD Billion; 2017 - 2028)

  • North America

    • U.S.

  • Europe

    • Germany

    • U.K.

    • France 

  • Asia Pacific

    • China

    • Indonesia

    • India

  • Central & South America

    • Brazil

  • Middle East & Africa

    • South Africa