Shellfish Market is expected to reach USD 61.5 billion by 2030

Shellfish Market Size
The Global Shellfish Market reached USD 48.2 billion in 2022 and is expected to reach USD 61.5 billion by 2030 growing with a CAGR of 3.1% during the forecast period 2023-2030.

The consumption of shellfish is experiencing a surge in popularity, driven by the rising trend of value-added products such as pre-cooked, seasoned, or marinated options.

Globally, the demand for seafood is on the rise due to factors such as population growth, increasing disposable incomes, and evolving dietary preferences. As part of the broader seafood category, shellfish have benefitted from this trend, experiencing growing demand. Mussels, a type of bivalve mollusk known for their tender meat and slightly sweet flavor, are particularly noteworthy in this context. The harvesting of shellfish involves various methods and practices, influenced by the specific type of shellfish, local regulations, and sustainability considerations. The processing of shellfish typically encompasses cleaning, shucking, cooking, packaging, and, in some cases, value-added processing.

The shellfish market is witnessing innovation in product development, with the introduction of new and unique shellfish-based products designed to capture consumer interest. Examples include value-added shellfish snacks, shellfish-based spreads and dips, and creative shellfish-based meal kits. These innovations aim to diversify the shellfish market and cater to the dynamic preferences of consumers.

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Market Dynamics

There is a noticeable increase in consumer demand for sustainable seafood globally, driven by growing awareness of the environmental impact of food choices. Sustainable seafood practices, which encompass responsible fishing and aquaculture methods, are designed to minimize ecological footprints and preserve marine ecosystems. Shellfish, including oysters, mussels, and clams, are frequently cultivated through sustainable practices that have minimal negative effects on the environment. This commitment to sustainability resonates with environmentally conscious consumers, leading to a rise in the demand for shellfish.

When produced sustainably, shellfish is generally considered a safe and healthy seafood choice. Sustainable shellfish farming often involves rigorous quality control measures, including regular water monitoring and strict harvesting regulations, ensuring the safety of the final product. Consumers seeking healthy and safe seafood options are drawn to sustainably produced shellfish, contributing to the overall increase in demand for this environmentally friendly and responsibly sourced protein source.

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Market Segmentation
By Type
Crabs
Prawns
Shrimps
Oysters
Others

By Application
Restaurant
Supermarket

Market Key Players
Major players are Maruha Nichiro Corporation, Asian Seafood Corporation, Sunnyvale Seafood, Northeast Seafood, Domstein AS, Thai Union Group Co, Young's Seafood Limited, East Coast Shellfish Growers Association, Mowi Harvest ASA, and Wellfleet Shellfeet Company.

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