PUBLISHER: Global Market Insights Inc. | PRODUCT CODE: 1577078
PUBLISHER: Global Market Insights Inc. | PRODUCT CODE: 1577078
U.S. Crustacean Market, Opportunity, Growth Drivers, Industry Trend Analysis and Forecast, 2024-2032
The U.S. Crustacean Market reached USD 5,794 million in 2023 and is projected to grow at a CAGR of 3.9% from 2024 to 2032. Heightened consumer awareness of the health benefits of crustaceans, including high protein content and omega-3 fatty acids, drives market growth. The popularity of seafood cuisines and gourmet dining experiences also boosts demand. Technological innovations in aquaculture and sustainable harvesting practices improve supply chain efficiency and product quality. The rise of online seafood retail and convenience-driven food services broadens market reach. These factors shape a vibrant and expanding U.S. crustacean market. The nutritional advantages of crustaceans, such as high protein, low fat, zero carbs, and minimal calories, drive their inclusion in many diets. Crustaceans, a family of arthropods, include crabs, crawfish, lobsters, prawns, and shrimps. While mostly aquatic, some are terrestrial, parasitic, or sessile. Globally, there's a preference for fresh and frozen food products. As lifestyles accelerate, many individuals prefer frozen foods for their convenience and nutritional benefits.
The overall U.S. crustacean industry is classified based on the product, and culture area.
The shrimp segment is projected to reach USD 4,625 million and showcase a CAGR of 4.2% by 2032. The expansion of the shrimp segment in the U.S. crustacean market is fueled by a growing consumer preference for versatile, high-protein seafood. Technological advancements in aquaculture enhance shrimp farming's efficiency and sustainability, addressing environmental concerns while boosting supply. The segment enjoys rising demand in households and restaurants alike, with shrimp being a staple in diverse cuisines. Market appeal is further amplified by innovations like value-added products and convenient, ready-to-cook options. The surge in online grocery shopping and direct-to-consumer channels broadens the accessibility and reach of shrimp products across the U.S.
In 2023, the marine waters segment is set to dominate, accounting for nearly 90% of the U.S. crustacean market. Marine areas, with their natural ocean conditions, are ideal for crustacean growth. Coastal aquaculture, practiced in artificial structures near the sea, like gated lagoons and coastal ponds, yields crustaceans at a commercial scale. Challenges persist. Salinity in these structures fluctuates based on rainfall, evaporation, season, and location. Periodic high currents further complicate crustacean farming in marine environments. Recognizing these challenges, governments, foundations, NGOs, and local communities globally are investing in the establishment of Marine Protected Areas (MPAs).
Table of Contents
Chapter 1 Methodology and Scope
- 1.1 Market scope and definition
- 1.2 Base estimates and calculations
- 1.3 Forecast calculation
- 1.4 Data sources
- 1.4.1 Primary
- 1.4.2 Secondary
- 1.4.2.1 Paid sources
- 1.4.2.2 Public sources
Chapter 2 Executive Summary
- 2.1 Industry 360° synopsis
Chapter 3 Industry Insights
- 3.1 Industry ecosystem analysis
- 3.1.1 Key manufacturers
- 3.1.2 Distributors
- 3.1.3 Profit margins across the industry
- 3.2 Industry impact forces
- 3.2.1 Growth drivers
- 3.2.1.1 Increasing consumption of seafood
- 3.2.1.2 Growing aquaculture industry in North America
- 3.2.1.3 Change in lifestyle and consumer preference
- 3.2.2 Market challenges
- 3.2.2.1 Impacts of climate change on fisheries and aquaculture
- 3.2.2.2 Regulatory compliance and varying industry standards.
- 3.2.3 Market opportunity
- 3.2.3.1 New opportunities
- 3.2.3.2 Growth potential analysis
- 3.2.1 Growth drivers
- 3.3 Raw material landscape
- 3.3.1 Manufacturing trends
- 3.3.2 Technology evolution
- 3.3.2.1 Sustainable manufacturing
- 3.3.2.1.1 Green practices
- 3.3.2.1.2 Decarbonization
- 3.3.2.1 Sustainable manufacturing
- 3.3.3 Sustainability in raw materials
- 3.3.4 Pricing trends (USD/Ton), 2021 - 2032
- 3.3.4.1 North America
- 3.4 Regulations and market impact
- 3.5 Porter's analysis
- 3.6 PESTEL analysis
Chapter 4 Competitive Landscape, 2023
- 4.1 Company market share analysis
- 4.2 Competitive positioning matrix
- 4.3 Strategic outlook matrix
Chapter 5 Market Size and Forecast, By Product, 2021-2032 (USD Million, Kilo Tons)
- 5.1 Key trends
- 5.2 Shrimps
- 5.3 Prawns
- 5.4 Crabs
- 5.5 Lobster
- 5.6 Crawfish
- 5.7 Others
Chapter 6 Market Size and Forecast, By Culture Area, 2021-2032 (USD Million, Kilo Tons)
- 6.1 Key trends
- 6.2 Marine waters
- 6.3 Inland waters
Chapter 7 Market Size and Forecast, By Country, 2021-2032 (USD Million, Kilo Tons)
- 7.1 Key trends
- 7.2 Pennsylvania
- 7.3 New York
- 7.4 Vermont
- 7.5 New Hampshire
- 7.6 Massachusetts
- 7.7 Maine
- 7.8 Rhode Island
- 7.9 Connecticut
- 7.10 New Jersey
- 7.11 Delaware
- 7.12 Maryland
- 7.13 Arkansas
- 7.14 Louisiana
- 7.15 Mississippi
- 7.16 Alabama
- 7.17 Georgia
- 7.18 Florida
- 7.19 South Carolina
- 7.20 Tennessee
- 7.21 North Carolina
- 7.22 Virginia
- 7.23 West Virginia
- 7.24 Kentucky
- 7.25 North Dakota
- 7.26 South Dakota
- 7.27 Nebraska
- 7.28 Kansas
- 7.29 Minnesota
- 7.30 Iowa
- 7.31 Missouri
- 7.32 Wisconsin
- 7.33 Illinois
- 7.34 Michigan
- 7.35 Indiana
- 7.36 Ohio
- 7.37 Washington
- 7.38 Oregon
- 7.39 California
- 7.40 Nevada
- 7.41 Idaho
- 7.42 Montana
- 7.43 Wyoming
- 7.44 Alaska
- 7.45 Utah
- 7.46 Colorado
- 7.47 Arizona
- 7.48 New Mexico
- 7.49 Texas
- 7.50 Hawaii
- 7.51 Oklahoma
Chapter 8 Company Profiles
- 8.1 Seaview Crab Company
- 8.2 RDM Aquaculture, L.L.C
- 8.3 Louisiana Crawfish Company
- 8.4 Pacific Seafood
- 8.5 Cajun Crawfish Company
- 8.6 Riceland Crawfish
- 8.7 Santa Monica Seafood Company
- 8.8 Crawfish Town U.S.A.
- 8.9 United Seafood Company
- 8.10 Eastern Fish Co.
- 8.11 Ready Seafood Co.
- 8.12 East Coast Seafood Group
- 8.13 The Fresh Lobster Company
- 8.14 Boston Lobster Company
- 8.15 Go Crawfish
- 8.16 Acadia Crawfish Co.
- 8.17 Bayou Bounty Crawfish
- 8.18 Tangier Lobster Company Limited
- 8.19 Sogelco International
