Carp Market

Carp Market Size:

The global carp market size is expected to exhibit a growth rate (CAGR) of 4.28% during 2024-2032. The market is primarily driven by increasing aquaculture production, growing exports, rapid movement toward organic and environmentally friendly carp farming methods, and advancements in aquaculture techniques with enhanced breeding practices and sustainable farming methods.

Carp Market Analysis:

• Major Market Drivers: The increasing demand for freshwater fish in diets owing to their high protein content and health advantages is driving the market growth. As customer taste shift in favor of sustainably and ethically produced seafood, innovations in aquaculture methods are influencing market growth. Moreover, the carp customer base is growing due to rising incomes and rapid urbanization in emerging economies, which has made fish a mainstay in many regional cuisines and accelerated the carp market growth.
• Key Market Trends: There is a growing movement toward organic and environmentally friendly carp farming methods, with people becoming more conscious of the effects their food choices have on the environment. Besides, producers are encouraged by this trend to use improved management techniques and certification. Additionally, value-added products like prepared, smoked, and marinated carp are becoming popular, particularly in Western markets where convenience is a significant factor in consumer purchasing decisions.
• Geographical Trends: Asia dominates the global carp market, with China leading the world in the production and consumption of carp due to its traditional eating habits and a firmly established aquaculture sector. Furthermore, in Europe, countries like Poland and the Czech Republic are notable for their considerable carp eating during seasonal festivities which drives the demand significantly.
• Competitive Landscape: Some of the major carp companies include Baiyang Investment Group Inc., Coarse Fish UK, Greenwater Fish Farm, Hampshire Carp Hatcheries, Priory Fishery Ltd., Quintons Orchard Fish Farm, and VS Fisheries among many others.
• Challenges and Opportunities: A major challenge in the carp market is the sensitivity of carp to illnesses, resulting in losses. In addition, climate change also has an influence on water quality and temperatures, which can damage carp farming practices. However, there are also great opportunities for technological advancements in disease control and breeding and expansion into undeveloped markets where aquaculture development potential offers new growth avenues.

Carp Market Trends:

Increasing Aquaculture Production

The growth of the carp market is closely tied to the expansion of aquaculture globally. According to the Food and Agriculture Organization (FAO), aquaculture production reached 223.2 million tonnes in 2022, which increased by 4.4% over the previous year. Additionally, 185.4 million tons of aquatic creatures were produced which signifies the growing dependence on aquaculture as the main source of seafood. Besides this, carp are one of the main farmed species, making a substantial contribution to this volume. The U.S. Department of Agriculture (USDA) estimates that China will continue to dominate the world in seafood production in 2022, with a projected total of 67.5 million metric tons (MMT), increasing from 66.9 MMT in 2021. Besides, the sustainability of carp as a vital species in aquatic farming is supported by this increase in aquaculture production, which also satisfies growing consumer demands. Thus, market depends on the ongoing expansion of aquaculture as it guarantees a consistent supply of fish, meeting the needs of different markets and contributing to the stabilization of fish prices worldwide, thereby fostering a favorable carp market outlook.

Rising Demand of Freshwater Fish

The demand for carp is fueled by its affordability and nutritional value, making it a popular choice among consumers. According to the data from the National Oceanic and Atmospheric Administration (NOAA) in 2019, the average fish and shellfish consumption per person in the U.S. was estimated at 19.2 pounds of edible meat, marking a 0.2-pound increase from the 19.0 pounds recorded in 2018. As per the U.S. Department of Agriculture (USDA), in 2021, five carp species grass carp, bighead carp, silver carp, cyprinoid carp, and crucian carp continued to be the top choices in freshwater aquaculture fish, with total production reaching 18.4 million metric tons, an increase of 1.3 percent from 2020. These statistics show a strong trend toward increased fish eating, with carp being especially popular due to its inexpensive price and high protein content. Moreover, carp is well-positioned in the market due to its status as a healthy and readily available food choice, particularly as consumer tastes change toward healthier and more sustainable food sources. Hence, the increasing consumer interest drives innovations and further investments in carp farming techniques, thus increasing overall carp market revenue.

Expansion of Export Markets

The carp market is experiencing significant growth, driven in part by an increase in global export markets. According to FAO, the output of aquatic products has seen a considerable increase, from 71.9 million tonnes (live weight equivalent) in 1990 to 185.5 million tonnes in 2023, while global exports of these products have grown from 21 million tonnes to an estimated 68 million tonnes. Additionally, fisheries and aquaculture products were among the most traded items globally in 2022, accounting for about 1% of all commerce with a value of USD 190 Billion. This expansion demonstrates how carp is becoming valued as a product in the global seafood industry. Therefore, the expansion of carp farming operations is encouraged by this spike in exports, which raises the economic prospects of exporting nations and increases investment and output in the industry.

Carp Market Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the global, regional, and country levels for 2024-2032. Our report has categorized the market based on species, product, source, and distribution channel.

Breakup by Species:

• Silver Carp
• Grass Carp
• Crucian Carp
• Common Carp
• Bighead Carp
• Others
   

Common carp accounts for the majority of the market share

The report has provided a detailed breakup and analysis of the market based on the species. This includes silver carp, grass carp, crucian carp, common carp, bighead carp, and others. According to the report, common carp represented the largest segment.

Common carp is emerging as the largest segment due to its capacity to adapt to many habitats and its importance in aquaculture and recreational fishing. Additionally, common carp are also known for their robustness, which makes them suitable for freshwater and brackish water situations which is escalating carp demand. Besides, the common carp's widespread production and consumption in a variety of geographical areas reinforce its status as the most popular species in the carp market, highlighting its cultural and economic importance. Therefore, the species' dominance in the global aquaculture and fisheries sectors is reflected in this division. According to the USDA, the common carp (Cyprinus carpio) has been present in American waters for more than a century. As per the United States Geological Survey (USGS), adult common carp range in color from light gold to dark brown, with reddish fins. The body is fully scaled, and there is a single barbel on each side of the mouth. The head has a triangular shape with a blunt snout and a thick nasal plate, and it lacks a true spine. Besides, there are also several genetic strains recognized by some as distinct varieties, including those bred for aquaculture or ornamental purposes such as leather carp, mirror carp, Israeli carp, and koi.

Breakup by Product: 

• Gutted and Headfish
• Semi-Fillets
• Fillets
• Others
   

Gutted and headfish hold the largest share of the industry

A detailed breakup and analysis of the market based on the product have also been provided in the report. This includes gutted and headfish, semi-fillets, fillets, and others. According to the report, gutted and headfish accounted for the largest market share.

Gutted and headfish demand is increasing across various culinary applications due to its convenience for retailers and consumers. Additionally, gutted fish are processed to remove internal organs, and are preferred for their extended shelf life and ease of preparation, making them a popular choice in domestic and commercial markets. Moreover, the market is driven by increasing consumer preference for ready-to-cook products and the rising popularity of carp in diverse cuisines. According to the carp market forecast, gutted fish will continue to lead the market due to its practical benefits and widespread use in various culinary practices.

Breakup by Source:

• Wild Capture
• Aquaculture
   

Aquaculture represents the leading market segment 

The report has provided a detailed breakup and analysis of the market based on the source. This includes wild capture, and aquaculture. According to the report, aquaculture represented the largest segment.

According to the carp market overview, aquaculture stands as the largest segment due to its ability to meet the growing global demand for carp efficiently. Additionally, aquaculture involves the controlled farming of carp in artificial environments, allowing for year-round production and supply stability. This method is favored for its scalability and the capacity to produce high-quality fish while minimizing the strain on wild populations. As a result, aquaculture has overshadowed wild capture in terms of volume and market share. Moreover, the advancement of aquaculture techniques, coupled with growing consumer preference for sustainably farmed fish, further propels the market growth. This expansion of this segment is crucial for maintaining a balance in global fish supply and ensuring a steady availability of carp to meet diverse dietary needs. According to the carp market recent developments in 2020-2023, the Feed the Future Innovation Lab for Fish, supported a project to create a cryogenic sperm bank aimed at conserving sperm from Indian major carp and exotic carp for commercial aquaculture in Bangladesh. A collaborative research team from Bangladesh Agricultural University and Louisiana State University successfully set up this cryogenic sperm bank for carp.

Breakup by Distribution Channel:

• Hypermarkets and Supermarkets
• Fish Shops
• Open Markets
• Online Stores
• Others
   

Hypermarkets and Supermarkets exhibit a clear dominance in the market 

A detailed breakup and analysis of the market based on the distribution channel have also been provided in the report. This includes hypermarkets and supermarkets, fish shops, open markets, online stores, and others. According to the report, hypermarkets and supermarkets accounted for the largest market share.

Supermarkets and hypermarkets hold the largest market share due to their extensive reach and the convenience they offer. Additionally, supermarkets and hypermarkets benefit from high foot traffic and robust supply chains, enabling them to offer a diverse range of carp products. These retail formats also leverage their scale to negotiate favorable terms with suppliers, ensuring competitive pricing and consistent availability. Furthermore, the broad assortment and value-added services, such as fresh product displays and in-store promotions, enhance their appeal to shoppers. As a result, supermarkets and hypermarkets have become the dominant channels in the carp market, effectively capturing a significant share of consumer demand through their established market presence and operational efficiencies.

Breakup by Region:

• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Indonesia
  • Others
• Europe
  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Russia
  • Others
• North America
  • United States
  • Canada
• Latin America
  • Brazil
  • Mexico
  • Others
• Middle East and Africa
  • Egypt
  • Turkey
  • Saudi Arabia
  • United Arab Emirates
  • Others
     

Asia Pacific leads the market, accounting for the largest carp market share

The report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa (Egypt, Turkey, Saudi Arabia, United Arab Emirates, others). According to the report, Asia Pacific was the largest regional market for carp.

Asia Pacific is emerging as the largest market due to its extensive aquaculture practices, particularly in countries like China, India, and Vietnam, where carp farming is deeply integrated into traditional and commercial aquaculture systems. Additionally, the favorable climatic conditions, abundant water resources, and established farming infrastructure further contribute to its significant market share. Moreover, the high consumption rates of carp in local diets and its cultural significance in various Asian countries drive production and demand. Furthermore, the Asia Pacific region's large-scale production capabilities, combined with its well-developed supply chain and distribution networks, solidify its position as the leading segment in the global carp market. According to WorldFish, in the state of Odisha, India, fish farmers have boosted their yearly production from 2.5 metric tons to 5 metric tons per hectare due to a carp intensification initiative sponsored by WorldFish. This initiative is part of a six-year collaboration (2016–2022) with the Fisheries and Animal Resources Development (F&ARD) Department of the Odisha Government. The program aims to enhance aquaculture productivity through advancements in seed quality, technology, and farming methods.

Competitive Landscape:

• The market research report has also provided a comprehensive analysis of the competitive landscape in the market. Detailed profiles of all major companies have also been provided. Some of the major market players in the carp industry include Baiyang Investment Group Inc., Coarse Fish UK, Greenwater Fish Farm, Hampshire Carp Hatcheries, Priory Fishery Ltd., Quintons Orchard Fish Farm, and VS Fisheries.

  (Please note that this is only a partial list of the key players, and the complete list is provided in the report.)

• At present, key players in the carp market are actively pursuing strategies to enhance market growth. Additionally, marketing efforts are intensified to educate consumers about the health benefits of carp, aiming to boost consumption globally. Furthermore, industry leaders are focusing on sustainable practices, such as reducing water usage and minimizing environmental impact, to meet regulatory standards and appeal to environmentally conscious consumers. These initiatives are crucial for maintaining competitiveness and driving growth in the global carp market. Besides, the recent carp market recent opportunities allow companies to invest in research and development (R&D) to improve genetic strains and enhance fish health, thereby increasing yield and quality. For instance, the Feed the Future Innovation Lab for Fish initiative focused on developing new breeds of enhanced carp in Bangladesh, specifically catla (Catla catla), rohu (Labeo rohita), and silver carp (Hypophthalmichthys molitrix). This effort is built upon the genetic improvement programs overseen by WorldFish. The project's goals included creating a strategy for a cryopreserved sperm repository, distributing more genetically enhanced carp, evaluating the farm-level performance of the third generation (G3) genetically improved rohu, crafting an economical pedigree assignment tool, and conducting various training programs.

Carp Market News:

• March 20, 2024: Professor Gao Zexia Research Group at the Fisheries College of Huazhong Agricultural University introduces boneless carp to address fish bones lodging in the throat that commonly prompt emergency room visits and clinic appointments in Asian countries, including China. Addressing this issue, a team from Wuhan University in Hubei province has successfully developed a new type of grass carp that lacks intermuscular bones. The research team specializing in molecular breeding has engineered this boneless variant to enhance safety and convenience for consumers.

Carp Market Report Scope:

Key Benefits for Stakeholders:

• IMARC’s industry report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the carp market from 2018-2032.
• The research report provides the latest information on the market drivers, challenges, and opportunities in the global carp market.
• The study maps the leading, as well as the fastest-growing, regional markets. It further enables stakeholders to identify the key country-level markets within each region.
• Porter's five forces analysis assists stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the carp industry and its attractiveness.
• The competitive landscape allows stakeholders to understand their competitive environment and provides insight into the current positions of key players in the market.