Lobster Market Anticipated to Reach $17.07 Billion by 2032 with 9.13% CAGR Growth

Lobster Market
The size of the lobster market in 2022 was estimated at USD 7.20 billion. With a CAGR of 9.13%, the market is projected to increase from USD 7.78 billion in 2023 to USD 17.07 billion by 2032.

Understanding Lobsters
Lobsters are large marine crustaceans with hard exoskeletons, two large claws (pincers), and eight legs belonging to the family Nephropidae, and are a popular seafood delicacy. They possess a hard outer shell (exoskeleton) for protection and support, unlike animals with internal skeletons. Lobsters live in oceans, typically on rocky, sandy, or muddy bottoms, ranging from shallow coastal areas to deeper waters. Lobsters are scavengers and predators, feeding on a variety of marine organisms, including fish, mollusks, other crustaceans, worms, and even some plants. As lobsters grow, they shed their exoskeletons in a process called molting, allowing them to grow larger. The flesh of lobsters is a popular and highly valued food source.

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Growth Drivers
• The increasing output of fish meal and fish oil is a key factor driving market expansion.

• The rising demand for fish in Asia is fueling the expansion of the lobster market.

• Growing demand for premium seafood items, especially among affluent consumers, is driving market growth.

• The greater access to premium lobster feed supports the expansion of the lobster farming sector, consequently fueling market growth.

Competitive Landscape
The market has the presence of both established players and new entrants. Some of the major market participants are:
• Boston Lobster
• Clearwater Seafoods
• East Coast Seafood
• Geraldton Fishermen's Co-operative
• High Liner Foods Incorporated
• PESCANOVA ESPAÑA
• Supreme Lobster
• Tangier Lobster & Thai Union Manufacturing Company.

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Table of Contents Lobster Market
1. Global Lobster Market, by Species
1. Key Findings
2. Introduction
1. Global Lobster Market, by Species, 2019-2032 (USD Billion)
3. American Lobster
1. Global Lobster Market, by American Lobster, by Region, 2019-2032 (USD Billion)
4. Spiny Lobster
1. Global Lobster Market, by Spiny Lobster, by Region, 2019-2032 (USD Billion)
5. Rock Lobster
1. Global Lobster Market, by Rock Lobster, by Region, 2019-2032 (USD Billion)
6. European Lobster
1. Global Lobster Market, by European Lobster, by Region, 2019-2032 (USD Billion)

2. Global Lobster Market, by Weight
1. Key Findings
2. Introduction
1. Global Lobster Market, by Weight, 2019-2032 (USD Billion)
3. 0.5 - 0.75 lbs
1. Global Lobster Market, by 0.5 - 0.75 lbs, by Region, 2019-2032 (USD Billion)
4. 0.76 - 3.0 lbs
1. Global Lobster Market, by 0.76 - 3.0 lbs, by Region, 2019-2032 (USD Billion)
5. Over 3.0 lbs
1. Global Lobster Market, by Over 3.0 lbs, by Region, 2019-2032 (USD Billion)

Regional Analysis
• North America is expected to experience a greater growth rate as it is the top consumer of lobsters, with the region being accountable for the majority of global lobster production.
• Europe is projected to experience the highest growth rate in the lobster market due to increasing demand for lobster in Europe, fueled by a heightened interest in seafood and a preference for sustainable and high-quality products.

• North America
o U.S.
o Canada
o Europe
o Germany
o UK
o France
o Italy
o Spain
o Russia
o Netherlands

• Europe
o Species Outlook
 American Lobster
 Spiny Lobster
 Rock Lobster
 European Lobster
o Weight Outlook
 0.5 - 0.75 lbs
 0.76 - 3.0 lbs
 Over 3.0 lbs
o Product Type Outlook
 Whole Lobster
 Lobster Tail
 Lobster Meat
 Lobster Claw
o Distribution Channel Outlook
 Food Service
 Retail

Segment-Wise Explanation
• The lobster market is segmented primarily based on weight, species, product type, distribution channel, and region.

• By species, the American Lobster segment is expected to witness the faster growth during the forecast period. These species are highly sought after for their tender meat, and there is significant demand for them in the market.

Lobster Market, Species Outlook (Revenue - USD Billion, 2019-2032)
• American Lobster
• Spiny Lobster
• Rock Lobster
• European Lobster

Lobster Market, Weight Outlook (Revenue - USD Billion, 2019-2032)
• 0.5 - 0.75 lbs
• 0.76 - 3.0 lbs
• Over 3.0 lbs

Lobster Market, Product Type Outlook (Revenue - USD Billion, 2019-2032)
• Whole Lobster
• Lobster Tail
• Lobster Meat
• Lobster Claw

Lobster Market, Distribution Channel Outlook (Revenue - USD Billion, 2019-2032)
• Food Service
• Retail

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