Enjoy complimentary customisation on priority with our Enterprise License!
The essential nutrients in seafood like protein, minerals, and vitamins are known to prevent a host of diseases. They have low saturated fat content and is a significant source of omega-3 fatty acids, DHA, and EPA. In developing nations like Bangladesh, Sri Lanka, and Ghana, seafood is an important part of the daily meal and it is also cheaper than animal protein. The demand for seafood is expected to rise during the forecast period due to the increasing awareness of the health benefits of seafood. For instance, crabs are rich in protein and omega-3 fatty acids, which have important anti-inflammatory properties beneficial for the treatment of arthritis. Extensive research carried out by the analysts at Technavio has shown that the global crustaceans market will grow at a CAGR of more than 4% over the predicted period.
The online and e-commerce channels have boosted the seafood market on a large scale as these platforms support both business-to-business (B2B) and business-to-consumer (B2C) operations. For instance, Oceanexecutive.com is a B2B marketplace that connects seafood companies across the supply chain. At a B2C level, vendors sell their products on their websites or through established e-commerce sites like Amazon. Top retailers like Walmart and Target offer home delivery or in-store pick up of seafood after the customers place the order online. Several vendors like CrabPlace.com, Maine Lobster Now, and Maryland Blue Crab Express offer attractive deals to customers to make the most of the upcoming market opportunities.
The global crustaceans market is highly fragmented due to the presence of numerous regional and international vendors. Seaview Crab Company is a leading vendor in the crustacean market. The competition is expected to intensify as the vendors are competing on the basis of product differentiation, portfolio, and pricing. In 2015, Normad Foods acquired Iglo Foods to strengthen their positions in the frozen foods segments. Small fisheries, crab farmers, and domestic crab farmers are also trying to enter the market and to gain a competitive edge over their peers. To survive and succeed in a stiff competitive environment, vendors in the market need to distinguish their products and service offerings through a clear and unique value proposition.
Key vendors in the market are -
Other prominent vendors in the market are Big Prawn, Beijing Princess Seafood, Dong Won Fisheries, Empresas AquaChile, Faroe Seafood, Findus Group, Mogster Group, Nireus Aquaculture, Norway Royal Salmon, Russian Aquaculture, and Selonda Aquaculture.
The marine waters segment dominated the market during 2015 and accounted for nearly 62% of the total revenue market share. The natural oceanic conditions in marine areas are favorable for the growth of crustaceans in the marine water culture. Thailand and Australia are home for crab and shrimp farming. However, the analyst at Technavio observed that the seasonal high currents affect the crustacean population in this environment. As a result, aquaculture farms often use drugs to control algae and diseases in these culture areas, which, in turn, will adversely affect the crustacean population. Hence, government agencies like Federal Agency for Fishery in Russia and Ministry of Agriculture and Farmers Welfare in India are attempting to promote more sustainable farming practices.
During 2015, APAC dominated the market and accounted for nearly 80% of the total market share. China is the leading revenue generator for this market as crustaceans are the most valuable species group available in the region. Small-scale vendors dominate this market in APAC as they receive full government support. Due to the change in consumer preferences for high-quality seafood, domestic consumption is also expected to rise considerably in the region.
Technavio also offers customization on reports based on specific client requirement.
PART 01: Executive summary
PART 02: Scope of the report
PART 03: Market research methodology
PART 04: Introduction
PART 05: Market landscape
PART 06: Market segmentation by culture area
PART 07: Geographical segmentation
PART 08: Key leading countries
PART 09: Market drivers
PART 10: Impact of drivers
PART 11: Market challenges
PART 12: Impact of drivers and challenges
PART 13: Market trends
PART 14: Vendor landscape
PART 15: Appendix
PART 16: Explore Technavio
Get lifetime access to our
Technavio Insights
Cookie Policy
The Site uses cookies to record users' preferences in relation to the functionality of accessibility. We, our Affiliates, and our Vendors may store and access cookies on a device, and process personal data including unique identifiers sent by a device, to personalise content, tailor, and report on advertising and to analyse our traffic. By clicking “I’m fine with this”, you are allowing the use of these cookies. Please refer to the help guide of your browser for further information on cookies, including how to disable them. Review our Privacy & Cookie Notice.