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The Asia Pacific (APAC) - Crab Market size is projected to increase by USD 2,285.28 million and the market size is estimated to grow at a CAGR of 3.12% between 2022 and 2027.
This APAC crab market report extensively covers market segmentation by end-user (foodservice and retail), and environment (aquaculture and capture fisheries). Our report examines historic data from 2017 to 2021, besides analyzing the current market scenario.
The growing prominence of land-based aquaculture is notably driving the market growth. Land-based aquaculture can positively influence the growth of the Asia Pacific (APAC) -crab 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 Asia Pacific - crab market expansion. These factors are anticipated to fuel the growth of the crab market in APAC during the forecast period.
The APAC Crab Market shows an accelerating CAGR during the forecast period.
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The growth in online retailing is an emerging trend shaping the market growth. Online and e-commerce channels have significantly pervaded the Asia Pacific (APAC) - crab 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 APAC -crab 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.
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 Asia Pacific (APAC) -crab 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 Asia Pacific (APAC) -crab 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.
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 Asia Pacific - crab market demand. As a result, the aquaculture segment of the Asia Pacific - crab market is anticipated to grow significantly year-over-year rate during the forecast period.
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 7,600.80 million in 2017.
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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 Asia Pacific - crab 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 APAC -crab 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.
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.
The APAC crab market report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:
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.
The APAC crab market report forecasts market growth by revenue and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
APAC Crab Market Scope |
|
Report Coverage |
Details |
Page number |
147 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 3.12% |
Market growth 2023-2027 |
USD 2,285.28 million |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
3.02 |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
AEON CO. LTD., Alsa Fisheries, Evergreen Seafood, 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, and United Ocean Co. Ltd. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by End-user
7 Market Segmentation by Environment
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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