Crustacean Farming Market will project a compound annual growth rate (CAGR) of 5.90%, By Culture Area (Marine Waters, Inland Waters)

Data Bridge Market Research analyses that the crustacean farming market will project a compound annual growth rate (CAGR) of 5.90% during the forecast period of 2022-2029. Growing cultivation, and consumption of shrimps, prawns, crabs, lobster and crawfish especially in the western economies, increasing focus on the latest trends in the market, growing application of advanced and modern agricultural and farming practices, high growth in emerging countries coupled with high adoption of innovative technologies, surging population of seafood lovers in China, Japan, Korea and other Asia-Pacific regions and increasing industry competitiveness are the major factors attributable to the growth of crustacean farming market. Therefore, the crustacean farming market value is projected to rise from USD 128 billion in 2020, would rocket up to USD 214.42 billion by 2029.

Crustaceans are large taxon of arthropods that are cultivated for a wide range of purposes. These are rich in health fats, proteins, omega-3 fatty acids, vitamin-B12 and minerals. Regular consumption leads to treating a wide array of diseases and disorders such as improving the functioning of immunity system, promoting heart and brain health and aiding weight loss.

View Detailed Report: https://www.databridgemarketresearch.com/reports/global-crustacean-farming-market

Growing awareness about sustainable agriculture, increase in the awareness about the health benefits of consumption of crustaceans such its high nutritional value and low-fat protein, rising prevalence of obesity, and increasing demand for processed and fresh crustaceans in the international market will emerge as the major factors fostering the growth of the crustacean farming market. Also, surging concerns regarding food safety, shift in consumption pattern due to fast pace in lifestyle, growing rate of industrialization and rising expenditure for research and development proficiencies in regards to new product launches are other important factors fostering the growth of the crustacean farming market. High demand for frozen seafood from Americans due to appealing taste and rich nutritional value, increase in demand for healthy as well as organic  food and growing investment in product development by agricultural companies will further create lucrative and remunerative growth opportunities for the crustacean farming market.

However, allergy to seafood to a certain section of population is a major factor that will pose a major challenge to the growth of the crustacean farming market. Also, high costs of the food products, dearth of awareness and required infrastructure facilities in the underdeveloped economies and shut down of numerous restaurants during the pandemic will further slowdown the crustacean farming market growth rate. Also, supply chain disruptions would hamper the crustacean farming market growth rate.

Some of the major players operating in the crustacean farming market are

Ichiboshi L.P.C Ltd, INTERFISHMARKET GmbH, RDM Shrimp, Seaview Crab Co., Surapon Foods Public Company Limited., The Crab Company, Blue Crab Trading Co., FINDUS, Austevoll Seafood ASA, Nireus, Russian Aquaculture, NISSUI, High Liner Foods Inc., Royal Greenland A/S, Droit d'auteur, Rich Products Corporation, DNI Group LLC, Siam Canadian Group Limited and SELONDA SA among others.

Global Crustacean Farming Market Scope and Market Size

The global crustacean farming market is segmented on the basis of product and cultural area. The growth among segments helps you analyse niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.

On the basis of product, the crustacean farming market is segmented into shrimps, prawns, crabs, lobster and crawfish.
On the basis of cultural area, the crustacean farming market is segmented into marine waters and inland waters.

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