Crustaceans Market Share and Ongoing Trends, Size, Growth Rate, Recent Key Players By 2031

Crustaceans are a varied group of arthropods that include well-known species including crayfish, shrimp, crabs, lobster, prawns, krill, woodlice, and barnacles. China produces half of the crustacean production. The crustacean market is fueled by a number of factors, including rise in demand due to increased health advantages and a growth in the adoption of environment-friendly production practices. Other factors propelling the crustacean business include contract farming and government policies.

𝗥𝗲𝗾𝘂𝗲𝘀𝘁 𝗧𝗵𝗲 𝗦𝗮𝗺𝗽𝗹𝗲 𝗣𝗗𝗙 𝗢𝗳 𝗧𝗵𝗶𝘀 𝗥𝗲𝗽𝗼𝗿𝘁: https://www.alliedmarketresearch.com/request-sample/11535

The crustaceans market size was valued at $16.4 billion in 2021, and is estimated to reach $25.3 billion by 2031, growing at a CAGR of 4.5% from 2022 to 2031.
𝐓𝐨𝐩 𝐊𝐞𝐲 𝐏𝐥𝐚𝐲𝐞𝐫𝐬:

The major players analyzed for global crustaceans industry are Ichiboshi, International Fish Farming and Holding Company, RDM Aquaculture, Seaview Crab Company, Surapon Foods, The Crab Company, Findus Group, Møgster Group, Nireus Aquaculture, Russian Aquaculture and Selonda Aquaculture. These major crustaceans market players have adopted various strategies such as product launch and acquisition to expand their market reach.

𝐑𝐞𝐠𝐢𝐨𝐧𝐚𝐥 𝐎𝐮𝐭𝐥𝐨𝐨𝐤:

On the basis of distribution channel, it is segregated into business to business (B2B) and business to consumer (B2C). The business to consumer (B2C) segment is anticipated to grow at highest CAGR during the forecast period, due to rise in consumption of crustaceans in the household sector.

In 2021, Asia-Pacific accounted for 66.10% in the global crustaceans market, and is expected to maintain its dominance during the forecast period. However, LAMEA and Europe are expected to possess the highest CAGRs, owing to rise in health concerns among people and increase in popularity of crustaceans in these regions. These crustaceans market trends are driving the market growth.

𝐏𝐫𝐨𝐜𝐮𝐫𝐞 𝐂𝐨𝐦𝐩𝐥𝐞𝐭𝐞 𝐑𝐞𝐩𝐨𝐫𝐭 (250 𝐏𝐚𝐠𝐞𝐬 𝐏𝐃𝐅 𝐰𝐢𝐭𝐡 𝐈𝐧𝐬𝐢𝐠𝐡𝐭𝐬, 𝐂𝐡𝐚𝐫𝐭𝐬, 𝐓𝐚𝐛𝐥𝐞𝐬, 𝐚𝐧𝐝 𝐅𝐢𝐠𝐮𝐫𝐞𝐬) 𝐚𝐭: https://www.alliedmarketresearch.com/checkout-final/13fcc65e1f555623f797af4c5e33f6fc

The rise in demand for seafood products is one of the primary factors that is driving the global crustaceans market growth. During the forecast period, the global market is predicted to rise due to a shift in consumer preferences toward healthier food such as seafood, which is regarded as a rich source of animal proteins.

Furthermore, market players are expected to benefit from enhanced flavor and expanded marketing levels, during the crustaceans market forecast period. However, high processing costs and strict government rules governing crustacean cultivation, import, and export may limit the expansion of the crustacean market. Market participants have the possibility to expand further due to strong growth in the food processing and agriculture industries, despite these obstacles.

𝐊𝐞𝐲 𝐅𝐢𝐧𝐝𝐢𝐧𝐠𝐬 𝐎𝐟 𝐓𝐡𝐞 𝐒𝐭𝐮𝐝𝐲

By type, the shrimps segment was the highest revenue contributor to the market, with $7,493.3 million in 2021, and is estimated to reach $11,269.3 million by 2031, with a CAGR of 4.2%.

Depending on application, the retail segment was the highest revenue contributor to the market, with $11,290.6 million in 2021, and is estimated to reach $17,257.8 million by 2031, with a CAGR of 4.4%.

As per distribution channel, the business to business (B2B) segment was the highest revenue contributor to the market, with $11,286.8 million in 2021, and is estimated to reach $16,830.5 million by 2031, with a CAGR of 4.1%.

Region wise, Asia-Pacific was the highest revenue contributor, accounting for $10,837.2 million in 2021, and is estimated to reach $17,142.7 million by 2031, with a CAGR of 4.7%.

𝐒𝐩𝐞𝐚𝐤 𝐓𝐨 𝐀𝐧𝐚𝐥𝐲𝐬𝐭: https://www.alliedmarketresearch.com/connect-to-analyst/11535

Based on type, the shrimps segment held the highest share in 2021, accounting for nearly half of the global crustaceans market, and is expected to continue its leadership status during the forecast period. However, the lobsters segment is expected to register the highest CAGR of 5.2% from 2022 to 2031.

Contact:

David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
USA/Canada (Toll Free):
+1-800-792-5285, +1-503-894-6022
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1(855)550-5975
help@alliedmarketresearch.com 
Web: www.alliedmarketresearch.com 
Allied Market Research Blog: https://blog.alliedmarketresearch.com 

𝐀𝐛𝐨𝐮𝐭 𝐔𝐬

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

This release was published on openPR.