Press release
Crustaceans Market To Hit US$ 22.7 Billion by 2028
Crustaceans Market
IMARC Group's latest report, titled "Crustaceans Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028", the global crustaceans market size reached US$ 17.2 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 22.7 Billion by 2028, exhibiting a growth rate (CAGR) of 4.86% during 2023-2028.
What is Crustaceans ? :
Crustaceans are a diverse group of arthropods belonging to the phylum Arthropoda and subphylum Crustacea. They are characterized by their hard exoskeleton, segmented bodies, and jointed appendages. This taxonomic group encompasses a wide range of organisms, including crabs, lobsters, shrimp, crayfish, and barnacles. They exhibit a remarkable variety of body shapes and sizes, adapted to their specific habitats and lifestyles.
Many crustaceans possess specialized appendages for feeding, locomotion, and defense. These organisms play significant ecological roles in aquatic ecosystems. They occupy various trophic levels, functioning as predators, scavengers, or filter feeders. They serve as a crucial food source for numerous marine and terrestrial animals, contributing to the overall biodiversity and food web dynamics.
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Who are the key Players Operating in the Industry ? :
• Seaview Crab Company
• High Liner Foods, Inc
• Shiok Meats
• RDM Aquaculture LLC
What are the Growth Prospects and Trends in the Crustaceans Industry ? :
The growing demand for seafood and the growing popularity of crustaceans as a culinary choice is driving the global market. Moreover, the rise in health-conscious consumer preferences and the recognition of the nutritional benefits of crustaceans are catalyzing the market as crustaceans are low in fat, rich in lean protein, and provide essential vitamins and minerals.
Additionally, the increasing consciousness among consumers about the environmental impact of their food choices and the rising willingness to support sustainable seafood options is strengthening the market worldwide. Besides, the growth of international trade and the expansion of the food service industry are acting as growth-inducing factors. The market is further driven by the ongoing technological advancements in processing, packaging, and transportation that further improve the quality and shelf life of crustacean products.
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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 (2017-2022)
• Market Outlook (2023-2028)
• Porter's Five Forces Analysis
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain
• Comprehensive Mapping of the Competitive Landscape
Contact us:
IMARC Group
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Email: sales@imarcgroup.com
Tel No:(D) +91 120 433 0800
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About Us:
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
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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