Crustacean Market Set to Expand to US$ 26.3 Bn by 2032 with Seafood Consumption on the Rise Across Global Markets

The global crustacean market has emerged as a vital segment of the seafood industry, witnessing notable growth in recent years. Consumers across the globe are embracing crustaceans-shrimp, lobsters, crabs, and more-not only for their taste but also for their nutritional value. Rising consumer inclination toward protein-rich diets and healthier food options is a major factor propelling demand for crustaceans, especially in urban and developed economies. From the bustling seafood markets of East Asia to the HoReCa (Hotel, Restaurant, and Cafeteria) sectors in Europe and North America, the market is increasingly becoming a dynamic space for innovation, sustainability, and global trade.

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According to the latest market estimations, the crustaceans market, valued at US$ 19 Bn in 2025, is projected to grow at a CAGR of 4.8%, reaching around US$ 26.3 Bn by 2032. Historically, the market exhibited strong performance, growing at 5.4% CAGR between 2019 and 2024. A significant contributor to this growth is the rising demand for shrimp, which is favored for its affordability, high protein content, and versatility in culinary use. Shrimp remains the leading segment within the market. East Asia, led by China, dominates the global crustacean market due to traditional consumption practices, growing imports, and an expanding aquaculture industry.

Key Highlights from the Report

➤ The global crustacean market is projected to grow at a CAGR of 4.8% from 2025 to 2032.
➤ The market value is anticipated to reach US$ 26.3 Bn by 2032, up from US$ 19 Bn in 2025.
➤ East Asia remains the largest regional market, led by China's growing imports of shrimp and lobster.
➤ Shrimp is the dominant product type, favored for its low cost and nutritional benefits.
➤ Aquaculture-based crustaceans account for higher revenue compared to captured sources.
➤ South Asia and Latin America are expected to witness rapid growth driven by urbanization and rising seafood consumption.

Market Segmentation

The crustacean market is categorized based on type, origin, end-use, and distribution channel. By type, the market comprises shrimp and prawns, crabs, lobsters, and others. Among these, shrimp remains the most dominant segment, driven by its high availability, low fat content, and omega-3 profile. Lobsters follow with a projected market share of 19.3% in 2025, indicating strong consumer demand in premium seafood categories.

In terms of origin, the market is split between capture and aquaculture. Aquaculture leads the segment with a higher growth rate, supported by technological advancements, better sustainability practices, and increasing demand. Countries like Thailand, Vietnam, and Indonesia are leading exporters due to their robust aquaculture infrastructure.

By end-use, the market serves various sectors, including retail, foodservice, commercial, food industry, pharmaceutical, and cosmetic industries. The foodservice sector-including restaurants, hotels, and cafes-is the fastest-growing consumer, attributed to the increasing popularity of seafood dishes and urban dining culture.

Under distribution channels, the market is segmented into Business-to-Business (B2B) and Business-to-Consumer (B2C). B2C channels include hypermarkets, supermarkets, convenience stores, fish shops, and online retail. Online seafood sales, in particular, are witnessing exponential growth due to increasing internet penetration and home delivery services.

Regional Insights

East Asia holds the lion's share of the global crustacean market, driven by traditional consumption, a booming aquaculture industry, and growing imports in China. Countries like Japan and South Korea also exhibit strong demand, particularly for cold water crustaceans used in sushi and sashimi.

South Asia is emerging as a high-potential region, thanks to urbanization, rising disposable incomes, and expanding HoReCa establishments. Thailand and Indonesia are leading consumers and exporters in this region.

Latin America and the Middle East & Africa are also witnessing robust growth. Latin America's seafood sector is expanding, while MEA is observing increased seafood imports due to shifting dietary preferences and population growth.

North America and Europe are mature markets, where consumer awareness of sustainable seafood and fresh/frozen food trends is boosting demand for crustaceans. The United States, in particular, shows high per capita consumption of shrimp and other shellfish.

Market Drivers

One of the key drivers of the crustacean market is the surging popularity of protein-rich diets. Consumers are actively choosing seafood over red meat due to health concerns, such as cholesterol and cardiovascular risks. Crustaceans offer lean protein, essential fatty acids, and other vital nutrients, making them a preferred choice among health-conscious individuals.

Another significant growth factor is the expansion of aquaculture operations, especially in Asia-Pacific. Technological advancements in breeding, feeding, and disease management have made crustacean farming more viable and productive. This, in turn, has helped meet the rising global demand for seafood.

The growing foodservice industry, especially in emerging markets, is further fueling market expansion. Rapid urbanization and changing lifestyles have increased the frequency of eating out, leading to greater demand for crustacean-based dishes. Moreover, the trend of ready-to-eat seafood is reshaping consumer behavior, with products like canned shrimp and crab gaining traction for their convenience and nutrient value.

Market Restraints

Despite favorable growth trends, the crustacean market faces several challenges. Adulteration of seafood products, particularly shrimp, has raised safety concerns among consumers. Practices such as injecting chemicals and antibiotics to enhance size or shelf life are common in certain regions, notably in some South Asian exporting countries. This undermines consumer trust and regulatory compliance, particularly in Western markets.

Additionally, the industry is susceptible to environmental and climatic challenges, including ocean pollution, disease outbreaks, and changing water temperatures. These factors can significantly impact crustacean farming and harvesting, leading to supply disruptions and price volatility.

Stringent import regulations and certification requirements in major markets like the U.S. and Europe also pose entry barriers for exporters, particularly from developing nations.

Market Opportunities

The crustacean market holds immense opportunities for innovation and expansion. The increasing demand for ready-to-cook and ready-to-eat seafood products offers lucrative potential for manufacturers. Busy lifestyles and growing working populations are driving the preference for pre-packaged seafood, especially in urban areas.

Sustainability and eco-labeling have become major consumer considerations, prompting companies to adopt environmentally friendly sourcing practices. Brands that emphasize transparency, traceability, and ethical harvesting are likely to gain a competitive edge in the market.

The growing popularity of regional cuisines that incorporate crustaceans is also opening new avenues for product development and international trade. From Southeast Asian shrimp dishes to Caribbean crab curries, the global fascination with local flavors is fueling crustacean consumption in restaurants and packaged food formats.

Reasons to Buy the Report

✔ Gain a comprehensive understanding of market dynamics and emerging trends in the crustacean industry.
✔ Identify high-growth segments and investment opportunities in aquaculture and foodservice sectors.
✔ Benchmark key players and their strategies in the competitive landscape.
✔ Understand regional consumption patterns and growth drivers across Asia, Europe, and the Americas.
✔ Leverage actionable insights for supply chain optimization and product innovation.

Frequently Asked Questions (FAQs)

◆ How big is the crustacean market in 2025 and what is its future value in 2032?
◆ Who are the key players in the global crustacean market?
◆ What is the projected growth rate of the crustacean market between 2025 and 2032?
◆ What is the market forecast for crustaceans by 2032 in terms of valuation?
◆ Which region is estimated to dominate the crustacean industry through the forecast period?

🧭 Company Insights

• Nippon Suisan Kaisha, Ltd.
• High Liner Foods Inc.
• Royal Greenland A/S
• The Clover Leaf Seafoods Family
• Ocean America Food SA
• SeaPak Shrimp & Seafood Company
• DNI Group LLC
• Surapon Foods Public Company Limited
• Siam Canadian Group Limited
• Sirena A/S
• Trident Seafoods Corporation
• International Fishing Farming Holding Company PJSC-Asmak
• Morubel Maruha Nichiro Corporation
• August Seafood

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