Global Crustaceans Market 2016-2020

Overview of the crustaceans market

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.

Competitive landscape and key vendors

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 -

• Seaview Crab Company
• The Crab Company (Fiji)
• Asmak
• RDM Aquaculture
• Ichiboshi
• Surapon Food

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.

Segmentation by culture area and analysis of the crustaceans market

• Marine waters
• Inland waters

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.

Geographical segmentation and analysis of the crustaceans market

• Americas
• APAC
• EMEA

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.

Key questions answered in the report include

• What will the market size and the growth rate be in 2020?
• What are the key factors driving the global crustaceans market?
• What are the key market trends impacting the growth of the global crustaceans market?
• What are the challenges to market growth?
• Who are the key vendors in the global crustaceans market?
• What are the market opportunities and threats faced by the vendors in the global crustaceans market?
• Trending factors influencing the market shares of the Americas, APAC, and EMEA.
• What are the key outcomes of the five forces analysis of the global crustaceans market?

Technavio also offers customization on reports based on specific client requirement.

Related reports

• Global Fish Oil Products Market 2016-2020
• Aquaculture Market in China - Report Analysis And Forecast 2015-2019
• Global Animal Antimicrobials and Antibiotics Market 2015-2019