Crab Market Analysis APAC - Size and Forecast 2024-2028

Asia Pacific Crab Market Size 2024-2028

The Asia Pacific (APAC) Crab Market size is projected to increase by USD 2.41 billion, at a CAGR of 3.2% between 2023 and 2028. Crabs are increasingly gaining recognition for their nutritional value, making them a popular choice in the global seafood market. The rising awareness of their health benefits, which include high protein content, omega-3 fatty acids, and essential minerals, has led to an expansion of retail landscapes, both in terms of physical stores and online platforms. Furthermore, the growing prominence of land-based aquaculture has made crab farming more accessible and sustainable, reducing the environmental impact and ensuring a steady supply. This trend is expected to continue, as consumers become more health-conscious and seek out nutritious and sustainable seafood options. The crab industry's growth trajectory is promising, with opportunities for innovation in farming techniques, value-added products, and distribution channels.

The growing prominence of land-based aquaculture is notably driving the market growth. Land-based aquaculture can positively influence the growth of the market even though it is more costly than marine aquaculture. Similarly, it is one of the fastest-growing global food production processes and it has surpassed all other food-sourcing methods, such as conventional practices. Sea cage aquaculture is also prone to various issues, such as storms, predators, harmful algal blooms, and the transfer of pathogens and parasites to farmed species. Such events can adversely influence aquaculture production, including the production of crabs. However, land-based crab farming can prevent such hazards as it involves confining crabs to indoor tanks and inside facilities, which eliminates interactions between farmed crabs and the external environment. Such kinds of farming can also support in reducing the capital costs of the company which also helps in the market expansion. These factors are anticipated to fuel the growth of the market in APAC during the forecast period.

Market Overview

The market shows an accelerating CAGR during the forecast period.

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Market Dynamics

The market encompasses a variety of species including blue crab, Gazami crab, and Chinese Mitten Crab, sourced from land-based aquaculture and wild harvesting. Retail stores and the food service industry offer a range of crab products, from canned options to fresh crab meat products like lump crab meat and claw meat. These decapod crustaceans are rich in nutrients despite concerns over contaminants such as copper, selenium, cadmium, mercury, and arsenic. Increasing consumer preference for healthy and nutritious foods drives demand, with options catering to gluten-free diets gaining popularity. Processing facilities ensure quality and safety standards are met, providing eco-friendly practices in aquaculture and sustainable harvesting methods to support the long-term viability of the market.

Major Trends

The growth in online retailing is an emerging trend shaping the market growth. Online and e-commerce channels have significantly pervaded the market. Such online platforms help both business-to-business (B2B) and business-to-consumer (B2C) operations. For instance, Ocean Executive is a B2B marketplace that connects Asia-Pacific seafood companies across the supply chain, from fishermen, processors, and wholesalers to grocery stores and large restaurant chains. In the future, the growth of e-commerce and online channels will drive market growth.

Moreover, this is due to the increasing number of customers preferring to shop online and pay with credit or debit cards. Such trends have prompted many companies to target Internet-savvy customers and venture into the growing online retail format. Multiple companies are selling crabs via dedicated online channels to capture the rising e-retail opportunity. These factors are anticipated to fuel the growth of the market during the forecast period.

Significant Challenge

The threat of overfishing is a significant challenge hindering market growth. Overfishing is illegal, unregulated, and usually unreported. Also, such activities occur across all types of fisheries within national and international waters in both small-scale and large-scale industrialized operations. However, the illegal fishing industry is growing significantly, and it is estimated at more than USD 6 billion annually. In APAC, commercial fishing of crabs is driving the market, and it has led to the overexploitation and depletion of the sea habitat. Regulatory standards against overfishing are estimated to restrict the growth of commercial fishing. Several governments across the region are banning the fishing of crabs temporarily to stop the overfishing and depletion of stocks.

For instance, in August 2023, the Bangladesh government banned crab catching in the Sundarbans in January and February of 2023. Overfishing can adversely affect the production and trade of crabs in the markets and result in an upsurge in price. Consequently, unregulated, unreported, and illegal fishing is impacting the recovery of crab stocks and is estimated to be a significant challenge for the market, which, in turn, will hinder the growth of the market during the forecast period.

Market Segmentation

By Environment

The aquaculture segment of the market in focus is expected to grow at a steady rate during the forecast period. The nutritious advantages associated with seafood have become quite popular, resulting in more consumption of aquaculture products over the past few years. Aquaculture plays a major role in meeting these challenges. Aquaculture products, such as farmed salmon and shrimps, are highly nutritious and are a good source of essential proteins, vitamins (A, B, D, and niacin), minerals (iodine, iron, phosphorus, and zinc), and omega-3 fatty acids (DHA and EPA). The rising disposable income of consumers has expanded the demand for crabs and thus increased the market demand. As a result, the aquaculture segment of the market is anticipated to grow significantly year-over-year rate during the forecast period.

By End-user

The market share growth by the foodservice segment will be significant during the forecast period. The foodservice segment is the largest end-user of crabs regionally and is anticipated to experience a steady growth rate. In APAC, the demand for crabs from the foodservice segment in China is the highest and crabmeat is one of the popular Asia-Pacific seafood dishes served in numerous restaurants.

The food service segment was the largest and was valued at USD 7.78 billion in 2018.

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Multiple foodservice chains also deliver crabmeat and crab rolls at reasonable prices to satisfy the growing demand. Similarly, Red Lobster is a leading restaurant chain that delivers a broad range of lobster and crab dishes. In many fast-casual and quick-service restaurants, crab dishes are gaining popularity which is considered a major driver for the market growth. The growth of fast-casual Asia-Pacific seafood chains will drive the foodservice segment. Moreover, there is a rising emphasis on new launches of crab meus by foodservice restaurants has potentially resulted in the growth of the market. For instance, in October 2021, the Atrium Chinese Restaurant launched a seasonal crab menu to highlight the highly prized crustaceans. Such factors will significantly fuel the growth of the foodservice segment of the market during the forecast period.

Company Overview

Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.

• Key Offering- AEON CO. LTD. - The company offers crabs such as snow crabs, king crabs, crab sticks, swimming crabs and soft-shell crabs through its subsidiary Kohyo Co. Ltd.
• Key Offering- Alsa Fisheries - The company offers crabs such as fresh live crabs and fresh mud crabs.
• Key Offering- Evergreen Seafood - The company offers crabs such as live Sri Lankan mud crabs, live Alaskan king crabs, Dungeness crabs, live Indonesian crabs, and raw frozen crab legs.

The market report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:

• Golden Region Co. Ltd.
• HAIMENG Food Ltd.
• Hanwa Co. Ltd.
• Hong Seafood Pte Ltd.
• Karkata Trading Pte Ltd.
• Lee Fishing Company
• Marine Aquafarm Pvt. Ltd.
• Maruha Nichiro Corp.
• Millennium Ocean Star Corp.
• Nissui Corp.
• Phil Union Frozen Foods Inc.
• Shanghai Kai Chuang Marine International Co. Ltd.
• Shiok Meats Pte Ltd.
• Siam Canadian Group Ltd.
• Source Natural Ltd.
• Thai Union Group PCL
• True World Foods LLC

Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.

Segment Overview

The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD Billion " for the period 2024-2028, as well as historical data from 2018 - 2022 for the following segments.

• End-user Outlook
  • Foodservice
  • Retail

• Environment Outlook
  • Aquaculture
  • Capture fisheries

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Market Analyst Overview

The market is influenced by diverse factors such as land-based aquaculture and sustainable fishing practices, ensuring the availability of decapod crustaceans like horseshoe crab. Seafood processing and packaging facilities play a crucial role in delivering special grade crab meat to the foodservice industry, meeting demands from health-conscious consumers, including those adhering to a gluten-free diet. The crab industry navigates seasonal variability and reproduction cycles, utilizing advanced aquaculture techniques and processing technologies to maintain quality and sustainability. HDL and sterol content in crab contribute to its appeal as a nutritious seafood choice, supporting marine biodiversity conservation efforts through responsible aquaculture practices. As consumer trends evolve towards healthier eating habits, the market continues to innovate, offering a range of products that meet both culinary and nutritional expectations. Land based aquaculture plays a vital role in meeting the demand for decapod crustacean like crab, especially from health conscious consumer trends adhering to a gluten free diet and serving the foodservice sector through sustainable crab fishing practices.

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What are the Key Data Covered in this Market Report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the market growth and forecasting of the market between 2024 and 2028
• Precise estimation of the size of the market size and its contribution to the parent market
• Accurate predictions about upcoming market trends and analysis and changes in consumer behavior
• Growth of the market industry across Europe, North America, APAC, South America, and Middle East and Africa
• Thorough market growth analysis of the market’s competitive landscape and detailed information about companies
• Comprehensive market analysis and report on the factors that will challenge the market research and growth of market companies

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