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The Bivalvia market size is forecast to increase by USD 4.65 billion, at a CAGR of 3.36% between 2023 and 2028.
The consumption of seafood is deeply ingrained in the food culture of numerous Asian countries, fostering a rising consumer preference for seafood. Bivalvia variants like mussels, oysters, and scallops are staples in countries such as China, Japan, and South Korea, influencing diverse Asian cuisines. This culinary trend, seen in popular dishes like miso soup and pajeon, is boosting the demand for Bivalvia in the Asia-Pacific (APAC) region. For instance, Camanchaca SA is a company that offers Bivalvia such as mussel meat, whole mussel, entire abalone, abalone meat, and others. Furthermore, factors such as a growing population and increased awareness of seafood benefits are expected to drive the Bivalvia market growth in APAC, during the forecast period.
The Bivalvia Market shows an accelerated CAGR during the forecast period.
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Bivalvia Market Driver
One of the key factors driving the Bivalvia market growth is the increasing demand for nutritious food. The demand for nutritious and healthy food, including fish and seafood, is increasing rapidly across the globe. In addition, there is a constant increase in the global aging population, along with the overall global population. Furthermore, the aging population is more prone to lifestyle and stress-related diseases.
Moreover, senior citizens are more prone to digestive disorders because of their low immunity levels. Therefore, Bivalvia and other seafood are preferred as they are easy to digest compared to meat and poultry (seafood has less connective tissue). Furthermore, the senior citizen segment constitutes a significant portion of the population in the developed world, and they prefer Bivalvia to other meat products for including protein in their daily diet. Hence, such factors are driving the market growth during the forecast period.
A key factor shaping the Bivalvia market growth is the growth of bivalve mariculture worldwide. Mariculture or marine aquaculture refers to the cultivation of fish or other marine life for food in seawater. In addition, with increasing extractive fisheries and exploitation, the yield of Bivalvia has declined over the years. However, the rising demand and decreasing supply have resulted in increased activity in bivalve mariculture to increase the production of Bivalvia to meet the demand in the global seafood market.
Moreover, with countries focusing more on environmental sustainability, Bivalvia mariculture is expected to show further growth as countries are increasingly investing in marine aquaculture. For instance, the Minister for Agriculture Food and the Marine announced an award of Euros 1,574,611 to 11 aquaculture enterprises and four third-level research institutions in eight different countries under the European Maritime and Fisheries Fund (EMFF) Operational Program for the seafood sector. Hence, such factors are driving the market growth during the forecast period.
Stringent regulations and high tariffs on seafood imports are one of the key challenges hindering the Bivalvia market growth. Several companies in the global Bivalvia market are required to comply with stringent rules and regulations imposed by various authorities. In addition, these regulations pertain to permits and import-export, access to new farming sites or renewal of existing aquaculture authorizations, regulations for new players, residual management issues, and labeling on products.
For instance, for importing fish, fishery products, and shellfish to the European Union (EU), they must come from EU-approved fishery product facilities or harvests in approved bivalve mollusk production areas. In addition, these products must be accompanied by appropriate health certifications confirming such imports meet hygiene, public health, and animal health requirements as per the European Commission's import rules on food hygiene. Hence, suhc factors are hindering the market growth during the forecast period.
The growing preference for natural and organic products will fuel the wild harvest segment which will increase the market growth. The wild harvest segment can be referred to as the process of gathering or collecting natural resources, seafood, or products directly from their natural or wild environments. In addition, wild harvest seafood is often considered to be natural or organic as it is sourced from the wild and may have a distinct taste or quality compared with farmed or cultivated counterparts. Moreover, the increasing awareness among consumers regarding the nutritional benefits of wild-caught or wild-harvested products drives the growth of the wild harvest segment. Hence, such factors are fuelling the growth of this segment which in turn drives the market growth during the forecast period.
.The clams segment is estimated to witness significant growth during the forecast period. The clams segment can be referred to as a type of shellfish that belongs to the mollusk family. In addition, clams are generally found in saltwater and freshwater environments and are known for their distinct, hard shells that protect the soft-bodied animal inside. Furthermore, these shellfish are harvested for consumption and are a popular seafood choice in many cuisines globally
The clams segment was the largest segment and was valued at USD 8.76 billion in 2018.
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Moreover, clams are a nutrient-rich source of protein, vitamins (such as B12), minerals (like iron and zinc), and omega-3 fatty acids. In addition, these are known for their nutritional value and are sought after by health-conscious consumers. Furthermore, clams are versatile and are suitable to be used in different gourmet dishes. In addition, these are valued for their unique taste, texture, and ability to enhance the flavors of various cuisines. Hence, such factors are fuelling the growth of this segment which in turn drives the market growth during the forecast period.
APAC is estimated to contribute 71% to the growth of the global market during the forecast period
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Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. The growing use of Bivalvia in Asian cuisines has been fuelling the demand for Bivalvia in APAC. In addition, Bivalves are considered a good source of nutrients such as vitamins, healthy fats, and minerals; the demand for Bivalvia is witnessing moderate growth among health-conscious consumers. For instance, bivalves are reported to promote cardiovascular health, improve brain function, and help in weight management. Furthermore, these added benefits of Bivalvia consumption are also expected to enhance the demand for Bivalvia in the region. Hence, such factors are driving the market growth in APAC 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 forecasting growth and analysis.
The Bivalvia Market growth and forecasting report also includes detailed analyses of the competitive landscape of the market and information about 13 market companies, including:
High Liner Foods Inc., Joe Pattis Seafood Co., Ocean Choice International, Pacific Seafood Group, PEI Mussel King, Slade Gorton and Co. Inc., Taylor Shellfish Farms Inc., The Great Little Harbour Seafood Co., and WILD OCEAN AQUACULTURE LLC
Bivalvia Market market analysis and report of 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 Bivalvia market research report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2018 to 2028.
Bivalvia Market Scope |
|
Report Coverage |
Details |
Page number |
157 |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 3.36% |
Market Growth 2024-2028 |
USD 4.65 billion |
Market structure |
Concentrated |
YoY growth 2023-2024(%) |
2.51 |
Regional analysis |
APAC, Europe, North America, South America, and Middle East and Africa |
Performing market contribution |
APAC at 71% |
Key countries |
US, China, Japan, India, and France |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Camanchaca SA, Future SeaFoods Inc., Glenmar Shellfish Ltd., High Liner Foods Inc., Joe Pattis Seafood Co., Ocean Choice International, Pacific Seafood Group, PEI Mussel King, Slade Gorton and Co. Inc., Taylor Shellfish Farms Inc., The Great Little Harbour Seafood Co., and WILD OCEAN AQUACULTURE LLC |
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 Type
7 Market Segmentation by Source
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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