Crustacean Market Forecast: Charting the Course for 2024-2030

Seafood enthusiasts, rejoice! The Crustacean market is making waves, and its size is nothing short of impressive, valued at US$ 27.16 Bn. in 2022. Brace yourselves for a journey through the oceanic realms of crab, shrimp, and more, as the total Crustacean revenue is projected to surge by 5.5% from 2023 to 2029, reaching a staggering US$ 39.50 Bn.

A Feast from the Depths: Crustacean Market Overview

In the realm of global animal protein consumption, seafood takes center stage, constituting over 18.5% of the total intake. The ocean generously contributes to this culinary delight. Fish, crustaceans, and mollusks play a crucial role, especially in low-income communities where protein diversity is a challenge. The Crustacean market report delves deep into its segments, analyzing types, product categories, marketing channels, end-users, and regions spanning North America, Asia Pacific, Europe, Middle East & Africa, and South America. With data spanning from 2028 to 2022, the report offers a captivating narrative through facts, figures, and illustrations.

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Navigating the Waves: Crustacean Market Dynamics

Precision-based fishing techniques are steering the Crustacean market towards growth. The adoption of advanced analytics in fishing operations could save a whopping $10.8 billion in yearly expenses, benefiting consumers with reduced seafood prices. Moreover, precision fishing methods aim to boost industry revenues by a staggering $52.5 billion by 2050.

However, challenges loom on the horizon. The depletion of marine resources poses a threat, with overexploitation and climate change affecting fish populations. Plastic pollution further jeopardizes fish survival rates, contributing to a potential 34.5% reduction in fishing income by 2050.

Keeping the market in check is another challenge - monitoring illegal crustacean businesses. Authorities deploy geolocation data and advanced analytics to combat illicit fishing, using technologies like Automatic Identification System and vessel monitoring systems. Big Brother is watching, even from space, to ensure compliance.

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Crabbing Your Attention: Crustacean Market Segment Analysis

The crab segment takes the spotlight, expected to grow at a CAGR of 4.3%. After a challenging 2022, the crab industry is bouncing back, with demand soaring and prices on the rise. Crab seasons in various countries, like the California Dungeness crab season, set the pace for segment growth. Despite challenges, Alaska's crab season saw significant yields, providing a boost to the market.

by Type

Dried Crustacean
Salted Crustacean
Frozen Crustacean
Norway's snow crab and king crab sectors may be modest compared to top exporters, but they're on the rise. Increasing production and exports signify growth, with a 74% increase in export value for king crab.

by Application

Store-Based
Non-Store Based

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Who are Crustacean Market Key Players?

1. Ichiboshi
2. International Fish Farming
3. RDM Aquaculture
4. Seaview Crab Company
5. Surapon Foods
6. The Crab Company
7. Findus Group
8. Mogster Group
9. Nireus Aquaculture
10. Russian Aquaculture
11. Selonda Aquaculture
12. Beijing Princess Seafood
13. Dong Won Fisheries
14. Faroe Seafood
15. Big Prawn

Table of content for the Crustacean Market includes:

Part 01: Executive Summary

Part 02: Scope of the Crustacean Market Report

Part 03: Crustacean Market Landscape

Part 04: Crustacean Market Sizing

Part 05: Crustacean Market Segmentation by Type

Part 06: Five Forces Analysis

Part 07: Customer Landscape

Part 08: Geographic Landscape

Part 09: Decision Framework

Part 10: Drivers and Challenges

Part 11: Market Trends

Part 12: Vendor Landscape

Part 13: Vendor Analysis

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Tides of Change: Crustacean Market Regional Insights

Farmed shrimp production in the first half of 2022 met global demand. Ecuador led the way, with Indonesia and Vietnam reporting increased output. India faced challenges, from mismatches in export demands to the impact of the pandemic on skilled labor forces.

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