Crustacean Market by Type, Distribution Channel, End-Users

List of Tables

The Crustacean Market was valued at USD 7.86 billion in 2023, expected to reach USD 8.37 billion in 2024, and is projected to grow at a CAGR of 6.02%, to USD 11.84 billion by 2030.

The crustacean market encompasses a wide range of shellfish, including shrimp, crabs, lobsters, and crayfish, recognized for their culinary value and nutritional benefits. This market's necessity arises from increasing global demand for protein-rich foods, especially seafood, driven by advancements in aquaculture and rising consumer health consciousness. Crustaceans are applied extensively in the food industry, accounting for substantial trade volumes in fresh, frozen, and processed forms. The end-use scope includes both direct consumption in restaurants and households and indirect uses, such as in the pharmaceutical and nutraceutical sectors due to their chitin and astaxanthin content. Key growth drivers in this market include technological innovations in sustainable aquaculture, growing exports from APAC countries, and favorable government policies promoting seafood consumption. Additionally, the rise of premium and organic crustacean products represents significant opportunity areas.

KEY MARKET STATISTICS
Base Year [2023]	USD 7.86 billion
Estimated Year [2024]	USD 8.37 billion
Forecast Year [2030]	USD 11.84 billion
CAGR (%)	6.02%

However, the market faces challenges like overfishing, stringent international trade regulations, and climate change impacts affecting crustacean habitats. There's also heightened scrutiny regarding environmental and ethical issues related to aquaculture practices. To address these challenges and capitalize on opportunities, stakeholders should invest in robust research aimed at genetically improved crustacean breeds for higher yields, and innovations in aquaculture technology to minimize environmental impact. Biotechnological advances in developing crustacean by-products for non-food industries present untapped innovation potential. The market is inherently dynamic, demanding adaptive strategies to navigate its volatile nature due to fluctuating supply chains and consumer preferences. Engaging in strategic alliances for technological collaboration, leveraging AI for sustainable aquaculture management, and expanding product portfolios to include value-added products can provide competitive advantages. Ultimately, market participants must ensure their strategies align with the growing consumer shift towards eco-friendly and responsibly sourced seafood products.

Market Dynamics: Unveiling Key Market Insights in the Rapidly Evolving Crustacean Market

The Crustacean Market is undergoing transformative changes driven by a dynamic interplay of supply and demand factors. Understanding these evolving market dynamics prepares business organizations to make informed investment decisions, refine strategic decisions, and seize new opportunities. By gaining a comprehensive view of these trends, business organizations can mitigate various risks across political, geographic, technical, social, and economic domains while also gaining a clearer understanding of consumer behavior and its impact on manufacturing costs and purchasing trends.

Market Drivers
- Increasing consumer demand for nutritious and healthy food
- Expansion of restaurant chains and food outlets worldwide
Market Restraints
- High cost associated with the crustacean products
Market Opportunities
- Increasing investments in crustacean farming in countries
- Growing availability of frozen food products on online and offline platforms
Market Challenges
- Strict government regulations associated with crustacean farming & fishing

Porter's Five Forces: A Strategic Tool for Navigating the Crustacean Market

Porter's five forces framework is a critical tool for understanding the competitive landscape of the Crustacean Market. It offers business organizations with a clear methodology for evaluating their competitive positioning and exploring strategic opportunities. This framework helps businesses assess the power dynamics within the market and determine the profitability of new ventures. With these insights, business organizations can leverage their strengths, address weaknesses, and avoid potential challenges, ensuring a more resilient market positioning.

PESTLE Analysis: Navigating External Influences in the Crustacean Market

External macro-environmental factors play a pivotal role in shaping the performance dynamics of the Crustacean Market. Political, Economic, Social, Technological, Legal, and Environmental factors analysis provides the necessary information to navigate these influences. By examining PESTLE factors, businesses can better understand potential risks and opportunities. This analysis enables business organizations to anticipate changes in regulations, consumer preferences, and economic trends, ensuring they are prepared to make proactive, forward-thinking decisions.

Market Share Analysis: Understanding the Competitive Landscape in the Crustacean Market

A detailed market share analysis in the Crustacean Market provides a comprehensive assessment of vendors' performance. Companies can identify their competitive positioning by comparing key metrics, including revenue, customer base, and growth rates. This analysis highlights market concentration, fragmentation, and trends in consolidation, offering vendors the insights required to make strategic decisions that enhance their position in an increasingly competitive landscape.

FPNV Positioning Matrix: Evaluating Vendors' Performance in the Crustacean Market

The Forefront, Pathfinder, Niche, Vital (FPNV) Positioning Matrix is a critical tool for evaluating vendors within the Crustacean Market. This matrix enables business organizations to make well-informed decisions that align with their goals by assessing vendors based on their business strategy and product satisfaction. The four quadrants provide a clear and precise segmentation of vendors, helping users identify the right partners and solutions that best fit their strategic objectives.

Strategy Analysis & Recommendation: Charting a Path to Success in the Crustacean Market

A strategic analysis of the Crustacean Market is essential for businesses looking to strengthen their global market presence. By reviewing key resources, capabilities, and performance indicators, business organizations can identify growth opportunities and work toward improvement. This approach helps businesses navigate challenges in the competitive landscape and ensures they are well-positioned to capitalize on newer opportunities and drive long-term success.

Key Company Profiles

The report delves into recent significant developments in the Crustacean Market, highlighting leading vendors and their innovative profiles. These include Acadia Crawfish, Austevoll Seafood ASA, Boston Lobster Company, DNI Group LLC by INABATA & Co., Ltd., Dong Won Fisheries Co., Ltd, East Coast Seafood Group, Eastern Fish Company, Faroese Seafood, Findus Sweden AB, High Liner Foods Incorporated, Louisiana Crawfish Co., Nireus Aquaculture, Nissui Corporation, Pacific Seafood Group, RDM Aquaculture LLC, Ready Seafood, Riceland Crawfish, Inc., Royal Greenland A/S, Santa Monica Seafood, Seaview Crab Company, Surapon Foods Public Company Limited, The Crab Company, The fresh Lobster Company, and United States Seafoods.

Market Segmentation & Coverage

This research report categorizes the Crustacean Market to forecast the revenues and analyze trends in each of the following sub-markets:

Based on Type, market is studied across Crabs, Crawfish, Lobster, Prawns, and Shrimps.
Based on Distribution Channel, market is studied across Convenience Stores, Fish Shops, and Hypermarkets/Supermarkets.
Based on End-Users, market is studied across Commercial and Domestic Consumption. The Commercial is further studied across Cosmetics, Food, and Pharmaceuticals.
Based on Region, market is studied across Americas, Asia-Pacific, and Europe, Middle East & Africa. The Americas is further studied across Argentina, Brazil, Canada, Mexico, and United States. The United States is further studied across California, Florida, Illinois, New York, Ohio, Pennsylvania, and Texas. The Asia-Pacific is further studied across Australia, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Taiwan, Thailand, and Vietnam. The Europe, Middle East & Africa is further studied across Denmark, Egypt, Finland, France, Germany, Israel, Italy, Netherlands, Nigeria, Norway, Poland, Qatar, Russia, Saudi Arabia, South Africa, Spain, Sweden, Switzerland, Turkey, United Arab Emirates, and United Kingdom.

The report offers a comprehensive analysis of the market, covering key focus areas:

1. Market Penetration: A detailed review of the current market environment, including extensive data from top industry players, evaluating their market reach and overall influence.

2. Market Development: Identifies growth opportunities in emerging markets and assesses expansion potential in established sectors, providing a strategic roadmap for future growth.

3. Market Diversification: Analyzes recent product launches, untapped geographic regions, major industry advancements, and strategic investments reshaping the market.

4. Competitive Assessment & Intelligence: Provides a thorough analysis of the competitive landscape, examining market share, business strategies, product portfolios, certifications, regulatory approvals, patent trends, and technological advancements of key players.

5. Product Development & Innovation: Highlights cutting-edge technologies, R&D activities, and product innovations expected to drive future market growth.

The report also answers critical questions to aid stakeholders in making informed decisions:

1. What is the current market size, and what is the forecasted growth?

2. Which products, segments, and regions offer the best investment opportunities?

3. What are the key technology trends and regulatory influences shaping the market?

4. How do leading vendors rank in terms of market share and competitive positioning?

5. What revenue sources and strategic opportunities drive vendors' market entry or exit strategies?

Product Code: MRR-C002B1C99482

1. Preface

1.1. Objectives of the Study
1.2. Market Segmentation & Coverage
1.3. Years Considered for the Study
1.4. Currency & Pricing
1.5. Language
1.6. Stakeholders

2. Research Methodology

2.1. Define: Research Objective
2.2. Determine: Research Design
2.3. Prepare: Research Instrument
2.4. Collect: Data Source
2.5. Analyze: Data Interpretation
2.6. Formulate: Data Verification
2.7. Publish: Research Report
2.8. Repeat: Report Update

3. Executive Summary

4. Market Overview

5. Market Insights

5.1. Market Dynamics
- 5.1.1. Drivers
  - 5.1.1.1. Increasing consumer demand for nutritious and healthy food
  - 5.1.1.2. Expansion of restaurant chains and food outlets worldwide
- 5.1.2. Restraints
  - 5.1.2.1. High cost associated with the crustacean products
- 5.1.3. Opportunities
  - 5.1.3.1. Increasing investments in crustacean farming in countries
  - 5.1.3.2. Growing availability of frozen food products on online and offline platforms
- 5.1.4. Challenges
  - 5.1.4.1. Strict government regulations associated with crustacean farming & fishing
5.2. Market Segmentation Analysis
5.3. Porter's Five Forces Analysis
- 5.3.1. Threat of New Entrants
- 5.3.2. Threat of Substitutes
- 5.3.3. Bargaining Power of Customers
- 5.3.4. Bargaining Power of Suppliers
- 5.3.5. Industry Rivalry
5.4. PESTLE Analysis
- 5.4.1. Political
- 5.4.2. Economic
- 5.4.3. Social
- 5.4.4. Technological
- 5.4.5. Legal
- 5.4.6. Environmental

6. Crustacean Market, by Type

6.1. Introduction
6.2. Crabs
6.3. Crawfish
6.4. Lobster
6.5. Prawns
6.6. Shrimps

7. Crustacean Market, by Distribution Channel

7.1. Introduction
7.2. Convenience Stores
7.3. Fish Shops
7.4. Hypermarkets/Supermarkets

8. Crustacean Market, by End-Users

8.1. Introduction
8.2. Commercial
- 8.2.1. Cosmetics
- 8.2.2. Food
- 8.2.3. Pharmaceuticals
8.3. Domestic Consumption

9. Americas Crustacean Market

9.1. Introduction
9.2. Argentina
9.3. Brazil
9.4. Canada
9.5. Mexico
9.6. United States

10. Asia-Pacific Crustacean Market

10.1. Introduction
10.2. Australia
10.3. China
10.4. India
10.5. Indonesia
10.6. Japan
10.7. Malaysia
10.8. Philippines
10.9. Singapore
10.10. South Korea
10.11. Taiwan
10.12. Thailand
10.13. Vietnam

11. Europe, Middle East & Africa Crustacean Market

11.1. Introduction
11.2. Denmark
11.3. Egypt
11.4. Finland
11.5. France
11.6. Germany
11.7. Israel
11.8. Italy
11.9. Netherlands
11.10. Nigeria
11.11. Norway
11.12. Poland
11.13. Qatar
11.14. Russia
11.15. Saudi Arabia
11.16. South Africa
11.17. Spain
11.18. Sweden
11.19. Switzerland
11.20. Turkey
11.21. United Arab Emirates
11.22. United Kingdom

12. Competitive Landscape

12.1. Market Share Analysis, 2023
12.2. FPNV Positioning Matrix, 2023
12.3. Competitive Scenario Analysis
12.4. Strategy Analysis & Recommendation

Companies Mentioned

1. Acadia Crawfish
2. Austevoll Seafood ASA
3. Boston Lobster Company
4. DNI Group LLC by INABATA & Co., Ltd.
5. Dong Won Fisheries Co., Ltd
6. East Coast Seafood Group
7. Eastern Fish Company
8. Faroese Seafood
9. Findus Sweden AB
10. High Liner Foods Incorporated
11. Louisiana Crawfish Co.
12. Nireus Aquaculture
13. Nissui Corporation
14. Pacific Seafood Group
15. RDM Aquaculture LLC
16. Ready Seafood
17. Riceland Crawfish, Inc.
18. Royal Greenland A/S
19. Santa Monica Seafood
20. Seaview Crab Company
21. Surapon Foods Public Company Limited
22. The Crab Company
23. The fresh Lobster Company
24. United States Seafoods