Global Molluscs Market Size, Share, Growth Analysis, By Species(Crassostrea, Ruditapes Philippinarum), By Form(Frozen and Canned), By Distribution Channel(Supermarkets/Hypermarkets, Convenience Stores) - Industry Forecast 2024-2031

Global molluscs market size was valued at around 63.45 billion in 2022 and is expected to rise from USD 66.31 billion in 2023 to reach a value of USD 94.29 billion by 2031, at a CAGR of 4.5 % during the forecast period (2024-2031).

The global market for molluscs is experiencing notable growth, driven by expanding consumer preferences for diverse and nutritious seafood options. Molluscs encompass a variety of shellfish like clams, mussels, oysters, and squid, valued for their rich flavor, high protein content, and nutritional benefits. As global seafood consumption increases, molluscs provide a sustainable and protein-rich alternative, with aquaculture playing a key role in meeting rising demand. Restaurants and seafood retailers are diversifying their offerings with a range of molluscan products, catering to evolving consumer tastes for culinary diversity and health-conscious choices.

The market comprises both wild-caught and farmed molluscs, supported by advancements in aquaculture practices that enhance production efficiency. With a focus on sustainability and responsible sourcing, the global molluscs market is poised for continuous growth, in line with the global trend toward healthier and environmentally friendly food choices, particularly in seafood. The global food industry exhibits substantial demand for molluscs, driven by growing consumer interest in nutritious food options and mollusk consumption to reduce the risk of chronic diseases, fueling market growth. Moreover, increasing demand for protein-rich diets over high-calorie food products drives the worldwide molluscs market forward. Seafood, being a low-fat and high-protein source containing essential elements such as vitamins, iron, and omega-3 fatty acids, is expected to propel market expansion. Additionally, the rising demand for processed seafood contributes to market growth throughout the forecast period. The expansion of aquaculture fish output in developing economies like China, India, and Japan serves as a significant driver for the molluscs industry. Furthermore, the rise in consumers' disposable income and their inclination toward a healthy lifestyle have spurred the consumption of protein-rich food, driving industry growth in recent years. Looking ahead, market expansion will likely be fueled by increasing demand for high-quality food products due to factors such as freshness, product diversity, and convenience for food safety. However, disruptions caused by the COVID-19 pandemic, such as transportation restrictions and supply chain interruptions, have affected the mollusk industry. Lockdown measures have temporarily halted the supply of fish food products, potentially disrupting or halting aquaculture and fishery supply networks. The surplus of unsold mollusk output has led to increased live fish stocks in the aquaculture sector, raising feeding costs and the risk of fish mortality worldwide.

Top-down and bottom-up approaches were used to estimate and validate the size of the global molluscs market and to estimate the size of various other dependent submarkets. The research methodology used to estimate the market size includes the following details: The key players in the market were identified through secondary research, and their market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.

Global Molluscs Market Segmental Analysis

The global molluscs market is segmented based on species, form, distribution channel and region. By species, the market is segmented into crassostrea, ruditapes philippinarum, scallops, and others. By form, the market is segmented into frozen, and canned. By distribution channel, the market is segmented into supermarkets/hypermarkets, convenience stores, online and others. By region, the global molluscs market is segmented into North America, Europe, Asia-Pacific, South America, and MEA.

Drivers of the Global Molluscs Market

The global demand for molluscs is witnessing an upsurge owing to expanding populations and evolving dietary preferences. With changing dietary habits, the molluscs market holds significant growth potential, especially considering the escalating demand for seafood in developing nations.

Restraints in the Global Molluscs Market

Mollusc farming often entails substantial expenses attributed to equipment, labor, and land costs. These factors can pose significant barriers for small-scale farmers looking to enter the market, thus constraining the overall supply of molluscs.

Market Trends of the Global Molluscs Market

Consumers are increasingly mindful of the environmental and social implications of the food they consume. Consequently, there is a rising demand for seafood products that are sustainable and traceable. This trend is spurring the adoption of sustainable farming practices and certifications, including the Aquaculture Stewardship Council (ASC) and the Marine Stewardship Council (MSC).