Global Eel Market Size To Exceed USD 6.17 Billion By 2033 | CAGR Of 3.32%
Category: Food & BeveragesGlobal Eel Market Size To Exceed USD 6.17 Billion By 2033
According to a research report published by Spherical Insights & Consulting, The Global Eel Market Size is Expected to Grow from USD 4.45 Billion in 2023 to USD 6.17 Billion By 2033, at a CAGR of 3.32% during the forecast period 2023-2033.
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Browse key industry insights spread across 230 pages with 106 Market data tables and figures & charts from the report on the "Global Eel Market Size, Share, and COVID-19 Impact Analysis, By Type (Wild Eel and Artificial Raising Eel), By Application (Food Service, Retail, Food Processing), By Distribution Channel (Online Stores, Supermarkets/Hypermarkets, Specialty Store), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033." Get Detailed Report Description Here: https://www.sphericalinsights.com/reports/eel-market
The eel industry is defined as the production, distribution, and consumption of eels, which are elongated fish of the order Anguilliformes. Eels are highly sought after for their tender, tasty meat, and they are widely eaten in many different cuisines, especially in Japan, South Korea, China, and some areas of Europe. Moreover, the popularity of sushi and sushi rolls as well as other conventional Japanese foods such as unagi (grilled eel) is a great contributor to the eel industry. Eel is a very important component in sushi, sushi rolls, as well as in grilled foods, which are also being consumed all over the globe, especially in non-Asian nations. Eel contains high amounts of omega-3 fatty acids, which have been associated with numerous health advantages, such as better cardiovascular performance and brain activity. This has seen eel become a favorite among consumers who prioritize their health. However, eels grow for longer compared to other fish, and the feeding is not as straightforward. This adds to the cost of production of eels for commercial use, hence becoming more costly compared to other farm-raised fish.
The artificial raising eel segment dominated the market in 2023 and is projected to grow at a substantial CAGR during the forecast period.
Based on the type, the eel market is divided into wild eel and artificial raising eel. Among these, the artificial raising eel segment dominated the market in 2023 and is projected to grow at a substantial CAGR during the forecast period. The growth is attributed to artificially bred or farmed eels being easier to manage in terms of breeding, feeding, and harvesting. This makes them more consistent in fulfilling consumer demands than wild-caught eels, which suffer from seasonal fluctuation and more stringent rules to avoid overfishing.
The food service segment accounted for a significant share in 2023 and is anticipated to grow at a remarkable CAGR during the forecast period.
Based on the application, the eel market is divided into food service, retail, and food processing. Among these, the food service segment accounted for a significant share in 2023 and is anticipated to grow at a remarkable CAGR during the forecast period. The growth is driven due to eel is a key ingredient in classic dishes like unagi don and is considered a luxury food, with a connotation of fine dining. Consequently, the food service sector has an extremely high demand for both wild and cultured eels.
The supermarkets/hypermarkets segment accounted for the biggest share in 2023 and is anticipated to grow at a significant CAGR during the forecast period.
Based on the distribution channel, the eel market is divided into online stores, supermarkets/hypermarkets, and specialty stores. Among these, the supermarkets/hypermarkets segment accounted for the biggest share in 2023 and is anticipated to grow at a significant CAGR during the forecast period. The segmental growth is due to supermarkets and hypermarkets being well within the reach of most consumers; hence, making them the preferred choice for purchasing eel. It sells a wide array of food products, including eels, and consumers can even find eels in the fish section or the frozen foods category.
Asia Pacific is expected to hold the majority share of the global eel market during the forecast period.
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Asia Pacific is expected to hold the majority share of the global eel market during the forecast period. The high demand for eels in Japan has created a big market share. Both wild and cultivated eels are eaten, but the consumption of farmed eels is increasing because of sustainability issues and the decreasing quantity of wild eels.
North America is anticipated to grow at the fastest pace in the global eel market during the forecast period. The demand for Asian and Japanese food, particularly sushi, is propelling the growth of eel consumption in North America. Eel finds wide application in sushi dishes in top-end restaurants as well as prepared foods, which are being in greater demand.
Major vendors in the global eel market are V. GEITONAS& Co Ltd, Royal Danish Fish, Taishan Lvsheng Food Co., Ltd., Yamada Suisan Co., Ltd., Delaware Valley Fish Company, YONKYU, Scandinavian Silver Eel AB, Bos Seafood, S & J Fisheries, Foppen, and Others.
Key Target Audience
- Market Players
- Investors
- End-users
- Government Authorities
- Consulting and Research Firm
- Venture capitalists
- Value-Added Resellers (VARs)
Key Market Development
- In November 2024, Cell-grown seafood pioneer Forsea announced an achievement in achieving the large-scale production of freshwater eel meat from cells as a commercial reality. The startup reported that its organoid technology achieved an industry-leading cell density of over 300 million cells/ml with low and exacting levels of cultured media ingredients.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2023 to 2033. Spherical Insights has segmented the eel market based on the below-mentioned segments:
Global Eel Market, By Type
- Wild Eel
- Artificial Raising Eel
Global Eel Market, By Application
- Food Service
- Retail
- Food Processing
Global Eel Market, By Distribution Channel
- Online Stores
- Supermarkets/Hypermarkets
- Specialty Store
Global Eel Market, By Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
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