Crustacean - Global Strategic Business Report

The global market for Crustacean was estimated at US$30.2 Billion in 2023 and is projected to reach US$44.5 Billion by 2030, growing at a CAGR of 5.7% from 2023 to 2030. This comprehensive report provides an in-depth analysis of market trends, drivers, and forecasts, helping you make informed business decisions.

Crustaceans, a diverse and widespread group of aquatic animals, play crucial roles in aquatic ecosystems around the world. This group includes familiar species such as crabs, lobsters, shrimp, and barnacles, among others. They are found in a variety of habitats, from deep sea floors to freshwater rivers and even terrestrial environments for certain species. Crustaceans are vital for the ecological balance as they serve multiple roles: as prey for numerous marine and freshwater predators, and as scavengers and detritivores, helping to break down and recycle organic materials. This makes them integral to nutrient cycling and energy flow within their ecosystems. Furthermore, many crustacean species are indicators of environmental health, with their presence and abundance providing important clues about the state of their habitats.

How Are Crustaceans Cultured and Harvested Commercially?

Commercial cultivation and harvesting of crustaceans are significant industries that support global seafood markets and local economies, particularly in coastal regions. Aquaculture of species like shrimp and prawns has grown dramatically; these operations range from small, artisanal ponds to large-scale, intensive farms that can control many aspects of the environment to maximize production. Sustainable fishing practices are crucial in the harvesting of wild crustaceans to prevent overfishing and ensure the health of marine populations. Techniques such as regulated trawling, trap fishing, and the implementation of marine protected areas are employed to manage stocks and habitat impact. The industry faces challenges such as disease management in aquaculture settings and the environmental effects of fishing in wild populations, pushing for innovations in farming technology and resource management practices.

What Are the Nutritional and Economic Impacts of Crustaceans?

Crustaceans are not only key players in their ecosystems but also valuable sources of nutrition and economic revenue. Rich in protein, vitamins, and minerals, especially selenium and omega-3 fatty acids, crustaceans form an essential part of the diet for many communities worldwide. Economically, the crustacean industry supports millions of livelihoods globally, from local fishermen to large seafood companies. Markets for crustaceans are driven by both local consumption and international trade, making them significant contributors to the economy of many developing and developed countries. However, the industry must balance demand with sustainable practices to protect these resources for future generations, as overexploitation can lead to the collapse of local populations, impacting biodiversity and community dependence on these resources.

What's Driving the Surge in Demand for Crustaceans?

The growth in the crustacean market is driven by several factors, including increased consumer demand for seafood, advancements in aquaculture technologies, and heightened awareness of sustainable dietary practices. As global populations grow and the middle class expands in developing countries, more people are incorporating seafood into their diets due to its health benefits. Technological improvements in aquaculture, such as recirculating systems and better disease control, are enabling producers to meet this rising demand more effectively. Additionally, as consumers become more environmentally conscious, there is a growing preference for seafood that is sustainably sourced. Efforts to certify sustainable practices and improve supply chain transparency are also contributing to market growth. Together, these dynamics underscore a robust and expanding global interest in crustacean products, reinforcing their importance in both diets and economies worldwide.

Key Insights:

• Market Growth: Understand the significant growth trajectory of the Shrimps segment, which is expected to reach US$31.2 Billion by 2030 with a CAGR of a 5.7%. The Prawns segment is also set to grow at 7.1% CAGR over the analysis period.
• Regional Analysis: Gain insights into the U.S. market, which was estimated at $7.9 Billion in 2023, and China, forecasted to grow at an impressive 8.8% CAGR to reach $10.3 Billion by 2030. Discover growth trends in other key regions, including Japan, Canada, Germany, and the Asia-Pacific.

Why You Should Buy This Report:

• Detailed Market Analysis: Access a thorough analysis of the Global Crustacean Market, covering all major geographic regions and market segments.
• Competitive Insights: Get an overview of the competitive landscape, including the market presence of major players across different geographies.
• Future Trends and Drivers: Understand the key trends and drivers shaping the future of the Global Crustacean Market.
• Actionable Insights: Benefit from actionable insights that can help you identify new revenue opportunities and make strategic business decisions.

Key Questions Answered:

• How is the Global Crustacean Market expected to evolve by 2030?
• What are the main drivers and restraints affecting the market?
• Which market segments will grow the most over the forecast period?
• How will market shares for different regions and segments change by 2030?
• Who are the leading players in the market, and what are their prospects?

Report Features:

• Comprehensive Market Data: Independent analysis of annual sales and market forecasts in US$ Million from 2023 to 2030.
• In-Depth Regional Analysis: Detailed insights into key markets, including the U.S., China, Japan, Canada, Europe, Asia-Pacific, Latin America, Middle East, and Africa.
• Company Profiles: Coverage of major players such as AquaChile SA, Faroe Seafood (Faroe Islands), Findus Group, and more.
• Complimentary Updates: Receive free report updates for one year to keep you informed of the latest market developments.

Select Competitors (Total 41 Featured):

• AquaChile SA
• Faroe Seafood (Faroe Islands)
• Findus Group
• Ichiboshi Co. Ltd.
• International Fish Farming and Holding Company PJSC - Asmak
• Mogster Group
• Nireus Aquaculture SA
• RDM Aquaculture LLC.
• Russian Aquaculture
• Seaview Crab Company
• Selonda Aquaculture SA
• Surapon Foods Public Company Limited
• The Big Prawn Co. Ltd.
• The Crab Company