Global Crustacean Farming Market, By Product (Shrimps, Prawns, Crabs, Lobster, Crawfish), Culture Area (Marine Waters, Inland Waters), Country (U.S., Canada, Mexico, Germany, Poland, Ireland, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, New Zealand, Vietnam, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Brazil, Argentina, Chile, Rest of South America, UAE, Saudi Arabia, Egypt, Kuwait, South Africa, Rest of Middle East and Africa) Industry Trends and Forecast to 2029
Market Analysis and Insights of Crustacean Farming Market
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.
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.
This crustacean farming market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on crustacean farming market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
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.
Crustacean Farming Market Country Level Analysis
The global crustacean farming market is analyses and market size, volume information is provided by country by product and cultural area as referenced above.
The countries covered in the crustacean farming market report are U.S., Canada, Mexico in North America, Germany, Poland, Ireland, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, New Zealand, Vietnam, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in Asia-Pacific (APAC), Brazil, Argentina, Chile, Rest of South America as a part of South America, UAE, Saudi Arabia, Egypt, Kuwait, South Africa, Rest of Middle East and Africa(MEA) as a part of Middle East and Africa(MEA).
North America region dominates the crustacean farming market and will continue to flourish its dominance during the forecast period owing to the rising research and development proficiencies and increasing seafood consumption especially in U.S. and Canada. Asia-Pacific region is projected to score the highest growth rate owing to the increasing rate of cultivation, high rate of consumption of crustacean's food in China and growing personal disposable income.
The country section of the crustacean farming market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Crustacean Farming Market Share Analysis
The global crustacean farming market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to crustacean farming market.
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.
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