Enjoy complimentary customisation on priority with our Enterprise License!
The Crab Market size is projected to have an estimated value of USD 15.13 billion in 2018, anticipated to reach USD 23.29 billion by 2028. and estimated to grow at a CAGR of 5.71% between 2023 and 2028.
The report provides market size, historical data spanning from 2018 to 2022, and future projections, all presented in terms of value in USD billion for each of the mentioned segments.
There has been a notable rise in demand in the market due to increasing awareness of their nutritional benefits. This newfound knowledge not only impacts consumer food preferences but also influences the strategic decision-making processes of companies. In response to the evolving preferences of health-conscious customers, businesses are intelligently modifying their products. This shift is also stimulating innovative thinking and transformations in sourcing, distribution, and marketing. The public's understanding of nutrition is influencing the trajectory of the crab industry and shaping decisions made at each stage of the process.
The Market shows an Accelerated CAGR during the forecast period.
To get additional information about the market, Request a Free Sample
The increasing prominence of clean labeling is the primary trend shaping market growth. The country of origin plays an important role in the purchasing decisions of consumers. For instance, consumers in the US perceive that foods packed in the US and Canada are safer to consume compared with those from other regions in terms of freshness, taste, and food safety. Moreover, the US introduced Country-of-Origin Labeling (COOL) on products to keep consumers informed and make better purchasing decisions. However, the implementation of labeling incurs higher costs for producers.
In addition, the products that are manufactured in these countries follow certain labeling rules, which will help consumers know where the product was manufactured or processed and packaged. This labeling procedure can help increase consumers' confidence and improve the sales of packaged crabmeat products. Hence, the increasing prominence of clean labeling is expected to positively influence the growth of the global market during the forecast period.
Stringent regulations for seafood such as crabs is a challenge that affects market growth. Market players are required to comply with stringent rules and regulations imposed by various authorities. These regulations pertain to permits, regulations for the entry of new players, residual management issues, and expiry dates for certain seafood products, including crab. The US FDA plays a crucial role in imposing these regulations on the type and category of seafood, such as fresh, chilled, frozen, or canned. The FDA also has rules on how to preserve and label products based on their shelf life. Strict compliance with rules can be a complex task, especially for new entrants.
Similarly, the EU plays a vital role in monitoring the production and distribution of seafood products, including crab. In 2016, the EU classified the Chinese mitten crab as an invasive species, which impacted the business of several Dutch seafood companies that export these products to China and Hong Kong. Therefore, several stringent regulations may impede the growth of the global market during the forecast period.
Since the last decade, the nutritious benefits associated with seafood have become quite popular, resulting in more consumption of aquaculture products. 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). Minerals and other important nutrients in seafood play a vital role in brain development and reproduction. Similarly, other important nutrients obtained from aquaculture products help in the prevention and alleviation of a plethora of diseases. As a result, the aquaculture segment in the global market is expected to grow significantly during the forecast period.
The market share growth by the foodservice segment will be significant during the forecast period. Crabmeat is one of the popular seafood dishes served in many restaurants. The demand is the highest from the foodservice segment in China, and it is expected to grow at a steady rate. Furthermore, many foodservice chains offer crabmeat and rolls at affordable prices to meet the growing demand.
The foodservice segment was valued at USD 9.49 billion in 2018.
For a detailed summary of the market segments Request for Sample Report
Red Lobster is a leading restaurant chain in the world that offers a wide range of lobster and crab dishes. The dishes are gaining popularity in many fast-casual and quick-service restaurants around the world. The expansion of fast-casual seafood restaurant chains will drive the growth of the foodservice segment during the forecast period.
APAC is estimated to contribute 78% to the growth of the global market during the forecast period
Get a glance at the market share of various regions View PDF Sample
Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. Factors such as population growth, increased demand for seafood, rise in disposable income, and change in lifestyles will fuel the market in the region. China, South Korea, and Japan are the major importers in the region. Meanwhile, China, Bangladesh, and Australia are the leading exporters of crabs in APAC.
In addition, the growing middle-class population in China prefers imported seafood products, including crabs, as they are perceived to be of higher quality and originate from cleaner environments. Japan is one of the leading consumers in APAC. In APAC, many seafood restaurants are expanding their operations by starting new restaurants. Thus, such factors are significantly contributing to the growth of the market 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.
The market report also includes detailed analyses of the competitive landscape of the market and information about 15 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 market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the market growth and trends opportunities from 2018 to 2028.
The Market is influenced by various factors, including per capita seafood consumption, which is on the rise due to increased incomes and urbanization. Crabs are sought after for their anti-inflammatory properties and ability to regulate blood pressure. Species like mud crabs, especially when fully grown, are in high demand, particularly in the food service industry, which is experiencing significant growth due to consumer preferences for healthy and nutritious foods, including those suitable for a gluten-free diet.
Consumer awareness about the benefits of seafood, such as the presence of docosahexaenoic acid (DHA) and eicosapentaenoic acid (EPA) for emotional well-being, is driving the market. Government initiatives, like those from the Federal Agency for Fishery, are promoting sustainable seafood practices, including the conservation of species like Scylla Serrata.
Changing lifestyles and the increase in the working population are influencing food choices, with an emphasis on preparation time and nutritious value. The Asia-Pacific region is the fastest-growing region for crab consumption, with major contributors like the National Oceanic and Atmospheric Administration (NOAA) providing insights into seafood landings. The market also sees demand for imported crabs, especially from health-conscious consumers seeking sustainable options, such as wild-caught blue swimming crab.
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 5.71% |
Market Growth 2024-2028 |
USD 5.65 billion |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
5.23 |
Regional analysis |
APAC, North America, Europe, South America, and Middle East and Africa |
Performing market contribution |
APAC at 78% |
Key countries |
China, India, Indonesia, Vietnam, and Thailand |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Admiralty Island Fisheries Inc., Bumble Bee Foods LLC, Cooke Aquaculture Inc., Global Seafood Chile SA, KEYPORT LLC, Maine Lobster Now LLC, Mazzetta Co. LLC, P and D Seafood Co., Pacific Cove, Pacific Seafood Group, SEA DELIGHT LLC, Seaview Crab Co., Sogelco International Inc., Supreme Crab and Seafood Inc., and Thai Union Group PCL |
Market dynamics |
Parent market analysis, Market Forecasting, 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 market forecast period. |
Customization purview |
If our market report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
BUY NOW Full Report and Discover more
We can help! Our analysts can customize this market research report to meet your requirements. Get in touch
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
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.