Sea Cucumber Market Size, Share, Growth, and Industry Analysis, By Type (Sandfish, Spiny Sea Cucumber, Japanese Sea Cucumber and others), By Application (Food Service, Food Processing, Medical Application and others), Regional Insights, and Forecast To 2031

Updated On: 22 April 2024

Sea Cucumber Market REPORT OVERVIEW

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global sea cucumber market size was USD 1179.16 million in 2021 and market is projected to touch USD 1974.70 million by 2031 at CAGR 5.29% during the forecast period.

The global COVID-19 pandemic has been unprecedented and staggering, with the Sea Cucumber market experiencing Higher-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the market's growth and demand returning to pre-pandemic levels once the pandemic is over.

Sea cucumbers are highly perishable, and must be selected, eviscerated, boiled, and processed within hours after being harvested. The guts must be removed soon after harvesting since the product would disintegrate otherwise. They are cooked, salted, and frozen before being exported after being harvested and having their guts removed. They belong to the phylum Echinodermata, are significant marine invertebrates that live on sandy substrates and rocky coastlines near the seafloor. The product’s outer body (bêche-de-mer) has been recognised for generating secondary metabolites such as vitamins and triterpenoid glycoside saponins with significant ecological and bio-medicinal relevance. They are also used to alleviate arthritic pain and promote wound healing, and are currently employed in human health treatments and Asian traditional medicine. Because of its greater pharmacological, cosmeceutical, and nutraceutical benefits, they have become one of the most important goods, commanding higher market prices and so providing a considerable income source and job opportunity to coastal populations in many nations.

They are echinoderms, which are related to starfish. They have lengthy bodies with several projecting points, known as needles, with a life expectancy of 9-10 years. Only around 40 of the 100,000 or so species accessible globally are ingested by humans. The Chinese have gathered and eaten sea cucumbers since the Ming Dynasty (FAO), with the first recorded commerce in the 16th century. The Chinese believe they provide several health advantages, including high protein and low-fat content, aphrodisiac properties, and the capacity to relieve joint discomfort. They are regarded a delicacy in Chinese cuisine due to their purported health advantages and distinct texture. While flavourless, they absorb the flavour of sauces and seasonings used in cooking.

COVID-19 Impact: Supply chains disrupts the market owing to the pandemic

Mall-scale Fisheries are an important source of income and food for millions of people throughout the world. Fish and fish products are among the world's most traded commodities, and the disruption to supply systems produced by the COVID-19 epidemic has had serious social and economic ramifications. According to the International Institute for Environment and Development (IIED), the closure of food service and hotel businesses, as well as limitations on seafood imports, were substantial contributors to economic losses for small fishermen in developing nations. Furthermore, the epidemic has a non-favourable influence on the enterprise's business operations, which distorts the market as a whole. This has had an effect on the industry.

LATEST TRENDS

"Advancements in the Harvesting Technique’s to stimulate market expansion"

There are several types of wild and produced sea cucumber Market all over the world, with the most harvested being the Alaskan Red Sea cucumber and the Boston tiger skin, and the most common being the sandfish, black teat fish, and white teat fish. However, after centuries of harvesting and substantial price and demand rises, most products are now aquaculture farm products.  Before being harvested, cultivated product normally develop for two years. Because of the huge demand. They live in depths of 100-300 metres for 6 to 10 years. Their cultured salted, half-dried, on the other hand, grow in only 10 metres of water and are collected swiftly, often in two years. Thus, the process of developing new advancements in the Harvesting Technique’s is a major trend that is creating opportunity for the industry to flourish. The market's overall expansion is primarily the result of these recent changes.

Sea Cucumber Market SEGMENTATION

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• By Type

The market is divided into categories based on type, Sandfish, Spiny Sea Cucumber, Japanese Sea Cucumber and others.

• By Application

The market is divided into Food Service, Food Processing, Medical Application and other categories based on application.

DRIVING FACTORS

"Growing popularity of the product that Boosts the Market"

Overfishing of product stocks in various parts of the world fuelled the development of product aquaculture. The first to create effective hatchery technique on Posticous japonicus, which is renowned for its high meat content and commercial hatchery success. A second species, Holothurian sabra, was cultivated for the first-time using procedures pioneered by the Chinese and Japanese. Sabra with the same method and are currently cultivating additional species. As the price of the product has increased the popularity among the people to try it and enjoying it in their cuisines have become more popular these days. As a result, the market will benefit from growing popularity of the product. It will help the Food and Beverages sector flourish and accelerate the Sea Cucumber market growth.

"Increasing demand of the product to resolve health issues to support market expansion"

Cucumber enthusiasts prefer thick, chewy bodies and, to a lesser extent, flavour in addition to appearance. However, the pleasure of eating them is simply one aspect of their allure. It turns out that they have high quantities of a substance called fucosylated glycosaminoglycan in their skin, which has been used for millennia to treat joint disorders like arthritis and, more recently, to treat some malignancies and minimise blood clots. The product obsession is now coming from all directions. Together, these elements are encouraging market expansion, which is raising business revenues. As a result, the market will grow thanks to the growing demand of the product to resolve health issues.

RESTRAINING FACTORS

"High Cost and lack of knowledge Will Prevent Market Expansion"

Sea cucumbers may not appear to be valuable creatures, but they are. They are so precious that people will risk their lives to obtain one. The deeper divers have to swim to discover these species, the rarer they become. The greater the price, the spikier the creatures, because the more they are taken, the rarer and more expensive they become. Some nations do this without any training. Many people are being paralysed as a result of decompression sickness in various tropical nations. This will be a significant impediment to market growth during the forecast period. This could be a significant issue limiting market growth. If this issue is resolved, the market will immediately begin to grow.

Sea Cucumber Market REGIONAL INSIGHTS

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"Market is Globally Dominated by North America"

Since this area is the largest user of the product, the market for Sea Cucumber in North America has profited from the region's expanding industrial development and several driving factors that have boosted the potential sectors. The increasing demand for products in the Food Service, Food Processing, Medical Application and other industries is one of the important factors driving the Sea Cucumber Market Share. Rapid urbanisation trends will further strengthen the market as a whole.

KEY INDUSTRY PLAYERS

"Leading Manufacturers to Boost Product Demand"

The analysis covers data on market participants and their positions within the industry. Through appropriate research, mergers, technological development, expanding production facilities, and collaboration, data is being gathered and made available. Information on manufacturers, regions, types, applications, sales channels, distributors, traders, dealers, research findings, and more is provided in the study on materials.

List of Market Players Profiled

• Golden (U.S.)
• Seacucumber (U.S.)
• Dalian Haiyantang Biology (China)
• Swanson (U.S.)
• Dalian Xiaoqin Food (China)
• Dalian Hanfang Biological Technology (China)

REPORT COVERAGE

The study goes into great detail about market segmentation by type and application. The study examines a broad range of participants, including existing and potential market leaders. A considerable market expansion is anticipated as a result of several important factors. In order to provide market insights, the research additionally analyses elements that are probably to boost Sea Cucumber Market share. The report makes forecasts for market expansion during the projected time period. The objective of the regional study is to explain why one region dominates the worldwide market. There are a lot of issues that have all been carefully considered that prevent the industry from growing. The research also contains a market strategic analysis. It includes thorough market information.