Crustaceans Market Demand 2024, Analysis Key Players, Size, Share and Report By 2032

IMARC Group’s latest report, titled “Crustaceans Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2032”, offers a comprehensive analysis of the crustaceans market demand. The report also includes competitor and regional analysis, along with a breakdown of segments within the industry.  the global crustaceans market size reached US$ 18.0 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 26.5 Billion by 2032, exhibiting a growth rate (CAGR) of 4.24% during 2024-2032.

Crustaceans Market Trends:

The global market is primarily driven by the rising demand for seafood among consumers. Moreover, continual advancements in aquaculture technology have enhanced the efficiency and sustainability of crustacean farming. Furthermore, the expansion of global trade networks facilitates the distribution of crustaceans to international markets. Additionally, the growing popularity of crustaceans in culinary applications across diverse cuisines contributes to increased consumption. Besides, favorable government policies and initiatives supporting seafood industries stimulate market development. The escalating disposable incomes in emerging economies lead to higher spending on premium seafood products. Moreover, the increasing prevalence of healthy eating trends further drives the demand for nutritious and protein-rich crustaceans. Additionally, the development of value-added crustacean products, such as ready-to-eat meals and processed seafood, enhances market appeal and accessibility.

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Leading key Players Operating in the Crustaceans Industry:

• Seaview Crab Company
• High Liner Foods, Inc
• Shiok Meats
• RDM Aquaculture LLC

Crustaceans Market Growth Analysis:

The scope of the market is expanding due to the increasing investment in research and development for sustainable aquaculture practices. Furthermore, the rising integration of automation and artificial intelligence in aquaculture operations improves productivity and quality control. Besides, the expansion of e-commerce platforms facilitates convenient access to a diverse array of crustacean products, propelling market reach. The growing awareness and implementation of stringent food safety regulations ensure high-quality standards, appealing to health-conscious consumers. Additionally, the diversification of product offerings, including organic and eco-friendly crustaceans, caters to environmentally conscious buyers. The emergence of innovative packaging solutions extends the shelf life of crustacean products, aiding in their global distribution. The increasing collaboration between seafood companies and culinary institutions promotes the development of new and exotic crustacean dishes, attracting gourmet enthusiasts. The rising trend of luxury dining experiences in urban areas further augments the demand for high-end crustacean varieties, fostering market growth.         

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Key Market Segmentation:

Type Insights:

• Lobsters
• Shrimps
• Crabs
• Others

Application Insights:

• Retail
• Institutions
• Food Service

Breakup by Region:

• North America (United States, Canada)
• Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
• Europe (Germany, France, United Kingdom, Italy, Spain, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)

Key Highlights of the Report: 

• Market Performance (2018-2023)
• Market Outlook (2024-2032)
• Porter’s Five Forces Analysis
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain
• Comprehensive Mapping of the Competitive Landscape 

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IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

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