Lobster Market Size to Surpass US$ 12.0 Billion by 2028, exhibiting a CAGR of 9.3% | IMARC Group

IMARC Group, a leading market research company, has recently releases report titled "Lobster Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028." The study provides a detailed analysis of the industry, including the global lobster market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.

How Big is the Lobster Market?

The global lobster market size reached US$ 7.0 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 12.0 Billion by 2028, exhibiting a growth rate (CAGR) of 9.3% during 2023-2028.

What is Lobster?

Lobster represents a valuable commodity in the seafood industry, renowned for its rich flavor and often considered a luxury item. Key attributes of lobster include its high nutritional content, featuring essential amino acids, vitamins, and minerals. It is also a versatile ingredient in culinary arts, lending itself to various cooking methods such as boiling, grilling, and steaming.

Moreover, sustainable fishing practices are integral to maintaining lobster populations and ecosystems, emphasizing the importance of responsible harvesting. The industry also involves meticulous quality control measures to ensure that the product reaches consumers in prime condition. Aspects of a well-regulated lobster industry include efficient supply chain management, health and safety protocols. Public awareness campaigns aimed at promoting sustainable consumption also play a critical role in the lobster industry.

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What are the Growth Prospects and Trends in the Lobster Market?

The rising appetite for gourmet experiences and high-quality seafood is one of the key drivers boosting the expansion of the lobster market. Coupled with this, advances in aquaculture technology and increased global trade are acting as significant catalysts for market growth.

Additionally, the growing interest in seafood as a healthier protein alternative is accentuating the importance of lobsters in culinary landscapes, thereby enhancing market dynamics. Besides this, the industry faces certain challenges and limitations such as overfishing and seasonal fluctuations, which have led to a surge in demand for sustainably sourced and certified products. Along with this, stakeholders are actively investing in research and development, focusing on improving harvesting techniques and supply chain efficiencies, thus propelling market growth. Furthermore, international and local initiatives aimed at sustainable fisheries management are establishing a favorable market environment globally.

Who are the Key Players Operating in the Lobster Industry?

The competitive landscape of the market has also been examined with some of the key players.

• Boston Lobster
• Clearwater Seafoods
• East Coast Seafood Group
• Geraldton Fishermen's Co-operative
• High Liner Foods Incorporated
• PESCANOVA ESPAÑA SL
• Supreme Lobster
• Tangier Lobster
• Thai Union Manufacturing Company Ltd.

What is Included in Market Segmentation?

The report categorized the market based on species, weight, product type, distribution channel and region.

Breakup by Species:

• American Lobster
• Spiny Lobster
• Rock Lobster
• European Lobster

Breakup by Weight:

• 5 - 0.75 lbs
• 76 - 3.0 lbs
• Over 3 lbs

Breakup by Product Type:

• Whole Lobster
• Lobster Tail
• Lobster Meat
• Lobster Claw

Breakup by Distribution Channel:

• Food Service
• Retail

Regional Insights:

• North America
• Europe
• Asia
• Oceania
• Others

Ask Analyst for Customization and Explore full report with TOC & List of Figures: https://www.imarcgroup.com/request?type=report&id=998&flag=C

Key Highlights of The Report:
• Market Performance (2017-2022)
• Market Outlook (2023-2028)
• Market Trends
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain Analysis
• Market segmentation and competitive landscape

If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

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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.
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