Challenges Facing the Global Squid Industry: How Long Can China Lead the squid Processing and Trade Market?

In recent years, while the global squid fishing industry has developed rapidly, it is facing the dual pressures of squid supply shortages and squid price fluctuations. As an important category in seafood trade, the market dynamics of the squid industry have attracted much attention. Industry insiders analyze that environmental changes, the transformation of consumer demand, and intensified international competition are profoundly reshaping this global market worth over $13 billion.

Squid Supply Chain Under Pressure, Price Volatility Intensifies

Affected by climate change, squid resources in major global fishing grounds have shown an unstable trend. Fishing volumes in traditional producing areas such as Peru and Argentina in South America have fluctuated significantly, while East Asian waters are also facing resource pressures caused by overfishing of squid. At the same time, the recovery of the catering industry after the pandemic has driven a surge in global squid consumption. The squid market size is expected to exceed $13 billion in 2024, and the imbalance between squid supply and demand has led to frequent price fluctuations. Take China's Qingdao Port as an example: the annual price fluctuation amplitude of frozen squid rings has reached 28%.

Three Asian Countries Dominate the squid Processing Industry Chain

Amid market changes, the "processing iron triangle" consisting of China, Thailand, and Vietnam has become increasingly prominent. Among them, China, relying on its complete industrial chain advantages, processes over 45% of the world's total annual squid output. Aquatic product processing clusters in Rongcheng (Shandong) and Zhoushan (Zhejiang) adopt a "procurement-deep processing-re-export" model, selling squid products to markets in the EU, Japan, South Korea, and North America. Vietnam undertakes low-to-medium-end orders with its labor cost advantages, while Thailand focuses on the development of high-value-added products.

Innovation-Driven Development as the Key to Breaking the Deadlock

Facing industry challenges, leading enterprises are seeking breakthroughs through multi-dimensional innovation. The Secretary-General of the China Aquatic Products Circulation and Processing Association pointed out: "The dual strategies of establishing sustainable fishing systems and developing new product categories such as pre-prepared dishes will become the industry's future growth drivers." Currently, ready-to-eat squid snacks and quick-frozen seasoned squid rings have successfully entered the young consumer market.

Industry experts predict that with the release of dividends from trade agreements such as RCEP, squid trade volume in the Asia-Pacific region is expected to grow by 8-10% in 2025. However, at the same time, the trend of countries strengthening fishery resource management may pose new tests to the squid global supply chain.

Pls contact us for squid orders: 

Blue Sea Fishery Co., Ltd. 

E-mail: sales@blueseafishery.cn 

Tel: 0086-131-5609-5220 

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We supply frozen squid tubes, squid rings, squid flowers, squid fillets, squid tentacles, squid strips(dosidicus gigas, Illex argentines, Todarodes Pacificus, loligo chinensis etc.)  squid t+t, squid tubes only

We can export our squid products to USA, EU, South Asia, Africa, Brazil markets etc. 

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