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Lobster Market by End-user and Geography - Forecast and Analysis 2022-2026

  • Published: May 2022
  • Pages: 133
  • SKU: IRTNTR73490
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The predicted growth for the lobster market share from 2021 to 2026 is USD 4.08 billion at a progressing CAGR of 10.37%.

This lobster market forecast report extensively covers segmentations by:

  • End-user - Food service and retail
  • Geography - North America, Europe, APAC, Middle East and Africa, and South America

The lobster market report offers information on several market vendors, including Boston Lobster, Clearwater Seafoods Inc., Douty Brothers Inc, East Coast Seafood LLC, Geraldton Fishermens Co operative, High Liner Foods (USA) Inc., Island Seafood, Nueva Pescanova SL, Supreme Lobster, Tangier Lobster, Thai Union Group PCL, and World link food distributors among others. Furthermore, our analysts have provided valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches for the coming years.

What will the Lobster Market Size be During the Forecast Period?

Download the Free Report Sample to Unlock the Lobster Market Size for the Forecast Period and Other Important Statistics

 

Lobster Market: Key Drivers, Trends, and Challenges

The growth in lobster restaurants is notably driving the lobster market growth, although factors such as risks associated with suppliers may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the lobster industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Lobster Market Driver

The growth in lobster restaurants is one of the key drivers supporting the lobster market growth. There is a rising demand for seafood globally due to the increasing number of restaurants. Moreover, restaurant chains have begun expanding both domestically and internationally.  For instance, Red Lobster operates around 50 restaurants outside of the US and Canada and has 704 locations in the US and Canada alone. Similarly, in May 2022, a new seafood restaurant was opened in Syracuse, New York, named Aloha Krab Cajun Seafood and Bar, and many small other seafood restaurants were opened around the globe in 2021. Such an increase in the number of restaurants will drive the lobster market growth during the forecast period.

Key Lobster Market Trend

Growth in e-commerce is one of the key lobster market trends contributing to the lobster market growth. Many customers now prefer to shop online and pay for their orders using credit or debit cards. This enables them to avoid time-consuming journeys and queues while shopping. Moreover, the changing trend has encouraged numerous companies to focus on new internet-savvy customers and venture into this growing retail format. Furthermore, this mode of business helps players save on operating costs, which are much lower in the online retail format when compared to the physical store format. These advantages provided by online shopping will propel the lobster market growth during the forecast period.

Key Lobster Market Challenge

Risks associated with suppliers is one of the challenges impeding the lobster market growth. Primarily, the success of vendors' businesses depends on product availability, which is interdependent on suppliers' ability to deliver goods at minimum or low costs. Further, vendors' operations are subject to various risks associated with their suppliers. They source their products from a wide variety of domestic and international suppliers. Apart from the need to abide by existing laws, suppliers should also be certified, and the products supplied should meet food standards. Thus, vendors tend to face a major challenge in finding qualified suppliers who meet set standards. Such challenges can impede the lobster market growth during the forecast period.

This lobster market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.

Parent Market Analysis

Technavio categorizes the global lobster market as a part of the global packaged foods and meats under the global food products segment of the global food, beverage, and tobacco market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the lobster market during the forecast period.

Who are the Major Lobster Market Vendors?

The report analyzes the market’s competitive landscape and offers information on several market vendors, including:

 

  • Boston Lobster
  • Clearwater Seafoods Inc.
  • Douty Brothers Inc
  • East Coast Seafood LLC
  • Geraldton Fishermens Co operative
  • High Liner Foods (USA) Inc.
  • Island Seafood
  • Nueva Pescanova SL
  • Supreme Lobster
  • Tangier Lobster
  • Thai Union Group PCL
  • World link food distributors

 

This statistical study of the lobster market encompasses successful business strategies deployed by the key vendors. The lobster market is concentrated and the vendors are deploying growth strategies such as price, quality, innovation, reputation, and distribution to compete in the market.

Product Insights and News

  • Boston Lobster - The company offers wide range of lobster feast and seafood. 
  • Clearwater Seafoods Inc. - The company offers raw and live lobsters for both retail and food service. 
  • Douty Brothers Inc - The company offers live lobster with different size and processed lobster such as fresh TKC meat and frozen TKC meat. 

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The lobster market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Lobster Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the lobster market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

Which are the Key Regions for Lobster Market?

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37% of the market’s growth will originate from North America during the forecast period. The US and Canada are the key markets for the lobster market in North America. Market growth in this region will be faster than the growth of the market in Europe.

The high incidences of thyroid disease, anemia, protein deficiency, and other lifestyle disorders among the consumers will facilitate the lobster market growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

COVID Impact and Recovery Analysis

In 2020, the COVID-19 pandemic had a negative impact on the regional lobster market. However, since H2 2021, due to the availability of vaccines, the number of COVID-19 cases in the region has reduced. Trade restrictions were lifted gradually, which ensured lobster exports from the US. These measures will positively impact vendors in the regional lobster market. Thus, the regional lobster market is expected to grow during the forecast period.

What are the Revenue-generating End-user Segments in the Lobster Market?

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The lobster market share growth by the foodservice segment will be significant during the forecast period. Lobsters figure among the expensive dishes served in many restaurants. Many foodservice chains also offer lobster meat and lobster rolls at affordable prices to meet growing demand as also in their effort to reach the delicacy to more consumers. Moreover, red Lobster is a leading restaurant chain in the world that offers a wide range of lobster dishes. Thus, the increasing demand for lobster in foodservice will drive the lobster market growth during the forecast period.

This report provides an accurate prediction of the contribution of all the segments to the growth of the lobster market size and actionable market insights on post COVID-19 impact on each segment.

 

Lobster Market Scope

Report Coverage

Details

Page number

120

Base year

2021

Forecast period

2022-2026

Growth momentum & CAGR

Accelerate at a CAGR of 10.37%

Market growth 2022-2026

$ 4.08 billion

Market structure

Concentrated

YoY growth (%)

10.02

Regional analysis

North America, Europe, APAC, Middle East and Africa, and South America

Performing market contribution

North America at 37%

Key consumer countries

US, Canada, China, Japan, Germany, and France

Competitive landscape

Leading companies, Competitive strategies, Consumer engagement scope

Key companies profiled

Boston Lobster, Clearwater Seafoods Inc., Douty Brothers Inc, East Coast Seafood LLC, Geraldton Fishermens Co operative, High Liner Foods (USA) Inc., Island Seafood, Nueva Pescanova SL, Supreme Lobster, Tangier Lobster, Thai Union Group PCL, and World link food distributors

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, Market condition analysis for 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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What are the Key Data Covered in this Lobster Market Report?

  • CAGR of the market during the forecast period 2022-2026
  • Detailed information on factors that will drive lobster market growth during the next five years
  • Precise estimation of the lobster market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the lobster industry across North America, Europe, APAC, Middle East and Africa, and South America
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of lobster market vendors

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1 Executive Summary

  • 1.1 Market overview
    • Exhibit 01: Executive Summary – Chart on Market Overview
    • Exhibit 02: Executive Summary – Data Table on Market Overview
    • Exhibit 03: Executive Summary – Chart on Global Market Characteristics
    • Exhibit 04: Executive Summary – Chart on Market by Geography
    • Exhibit 05: Executive Summary – Chart on Market Segmentation by End-user
    • Exhibit 06: Executive Summary – Chart on Incremental Growth
    • Exhibit 07: Executive Summary – Data Table on Incremental Growth
    • Exhibit 08: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

  • 2.1 Market ecosystem
    • Exhibit 09: Parent market
    • Exhibit 10: Market Characteristics

3 Market Sizing

  • 3.1 Market definition
    • Exhibit 11: Offerings of vendors included in the market definition
  • 3.2 Market segment analysis
    • Exhibit 12: Market segments
  • 3.3 Market size 2021
    • 3.4 Market outlook: Forecast for 2021-2026
      • Exhibit 13: Chart on Global - Market size and forecast 2021-2026 ($ million)
      • Exhibit 14: Data Table on Global - Market size and forecast 2021-2026 ($ million)
      • Exhibit 15: Chart on Global Market: Year-over-year growth 2021-2026 (%)
      • Exhibit 16: Data Table on Global Market: Year-over-year growth 2021-2026 (%)

    4 Five Forces Analysis

    • 4.1 Five forces summary
      • Exhibit 17: Five forces analysis - Comparison between 2021 and 2026
    • 4.2 Bargaining power of buyers
      • Exhibit 18: Chart on Bargaining power of buyers – Impact of key factors 2021 and 2026
    • 4.3 Bargaining power of suppliers
      • Exhibit 19: Bargaining power of suppliers – Impact of key factors in 2021 and 2026
    • 4.4 Threat of new entrants
      • Exhibit 20: Threat of new entrants – Impact of key factors in 2021 and 2026
    • 4.5 Threat of substitutes
      • Exhibit 21: Threat of substitutes – Impact of key factors in 2021 and 2026
    • 4.6 Threat of rivalry
      • Exhibit 22: Threat of rivalry – Impact of key factors in 2021 and 2026
    • 4.7 Market condition
      • Exhibit 23: Chart on Market condition - Five forces 2021 and 2026

    5 Market Segmentation by End-user

    • 5.1 Market segments
      • Exhibit 24: Chart on End-user - Market share 2021-2026 (%)
      • Exhibit 25: Data Table on End-user - Market share 2021-2026 (%)
    • 5.2 Comparison by End-user
      • Exhibit 26: Chart on Comparison by End-user
      • Exhibit 27: Data Table on Comparison by End-user
    • 5.3 Food service - Market size and forecast 2021-2026
      • Exhibit 28: Chart on Food service - Market size and forecast 2021-2026 ($ million)
      • Exhibit 29: Data Table on Food service - Market size and forecast 2021-2026 ($ million)
      • Exhibit 30: Chart on Food service - Year-over-year growth 2021-2026 (%)
      • Exhibit 31: Data Table on Food service - Year-over-year growth 2021-2026 (%)
    • 5.4 Retail - Market size and forecast 2021-2026
      • Exhibit 32: Chart on Retail - Market size and forecast 2021-2026 ($ million)
      • Exhibit 33: Data Table on Retail - Market size and forecast 2021-2026 ($ million)
      • Exhibit 34: Chart on Retail - Year-over-year growth 2021-2026 (%)
      • Exhibit 35: Data Table on Retail - Year-over-year growth 2021-2026 (%)
    • 5.5 Market opportunity by End-user
      • Exhibit 36: Market opportunity by End-user ($ million)

    6 Customer Landscape

    • 6.1 Customer landscape overview
      • Exhibit 37: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

    7 Geographic Landscape

    • 7.1 Geographic segmentation
      • Exhibit 38: Chart on Market share by geography 2021-2026 (%)
      • Exhibit 39: Data Table on Market share by geography 2021-2026 (%)
    • 7.2 Geographic comparison
      • Exhibit 40: Chart on Geographic comparison
      • Exhibit 41: Data Table on Geographic comparison
    • 7.3 North America - Market size and forecast 2021-2026
      • Exhibit 42: Chart on North America - Market size and forecast 2021-2026 ($ million)
      • Exhibit 43: Data Table on North America - Market size and forecast 2021-2026 ($ million)
      • Exhibit 44: Chart on North America - Year-over-year growth 2021-2026 (%)
      • Exhibit 45: Data Table on North America - Year-over-year growth 2021-2026 (%)
    • 7.4 Europe - Market size and forecast 2021-2026
      • Exhibit 46: Chart on Europe - Market size and forecast 2021-2026 ($ million)
      • Exhibit 47: Data Table on Europe - Market size and forecast 2021-2026 ($ million)
      • Exhibit 48: Chart on Europe - Year-over-year growth 2021-2026 (%)
      • Exhibit 49: Data Table on Europe - Year-over-year growth 2021-2026 (%)
    • 7.5 APAC - Market size and forecast 2021-2026
      • Exhibit 50: Chart on APAC - Market size and forecast 2021-2026 ($ million)
      • Exhibit 51: Data Table on APAC - Market size and forecast 2021-2026 ($ million)
      • Exhibit 52: Chart on APAC - Year-over-year growth 2021-2026 (%)
      • Exhibit 53: Data Table on APAC - Year-over-year growth 2021-2026 (%)
    • 7.6 Middle East and Africa - Market size and forecast 2021-2026
      • Exhibit 54: Chart on Middle East and Africa - Market size and forecast 2021-2026 ($ million)
      • Exhibit 55: Data Table on Middle East and Africa - Market size and forecast 2021-2026 ($ million)
      • Exhibit 56: Chart on Middle East and Africa - Year-over-year growth 2021-2026 (%)
      • Exhibit 57: Data Table on Middle East and Africa - Year-over-year growth 2021-2026 (%)
    • 7.7 South America - Market size and forecast 2021-2026
      • Exhibit 58: Chart on South America - Market size and forecast 2021-2026 ($ million)
      • Exhibit 59: Data Table on South America - Market size and forecast 2021-2026 ($ million)
      • Exhibit 60: Chart on South America - Year-over-year growth 2021-2026 (%)
      • Exhibit 61: Data Table on South America - Year-over-year growth 2021-2026 (%)
    • 7.8 US - Market size and forecast 2021-2026
      • Exhibit 62: Chart on US - Market size and forecast 2021-2026 ($ million)
      • Exhibit 63: Data Table on US - Market size and forecast 2021-2026 ($ million)
      • Exhibit 64: Chart on US - Year-over-year growth 2021-2026 (%)
      • Exhibit 65: Data Table on US - Year-over-year growth 2021-2026 (%)
    • 7.9 China - Market size and forecast 2021-2026
      • Exhibit 66: Chart on China - Market size and forecast 2021-2026 ($ million)
      • Exhibit 67: Data Table on China - Market size and forecast 2021-2026 ($ million)
      • Exhibit 68: Chart on China - Year-over-year growth 2021-2026 (%)
      • Exhibit 69: Data Table on China - Year-over-year growth 2021-2026 (%)
    • 7.10 Germany - Market size and forecast 2021-2026
      • Exhibit 70: Chart on Germany - Market size and forecast 2021-2026 ($ million)
      • Exhibit 71: Data Table on Germany - Market size and forecast 2021-2026 ($ million)
      • Exhibit 72: Chart on Germany - Year-over-year growth 2021-2026 (%)
      • Exhibit 73: Data Table on Germany - Year-over-year growth 2021-2026 (%)
    • 7.11 Canada - Market size and forecast 2021-2026
      • Exhibit 74: Chart on Canada - Market size and forecast 2021-2026 ($ million)
      • Exhibit 75: Data Table on Canada - Market size and forecast 2021-2026 ($ million)
      • Exhibit 76: Chart on Canada - Year-over-year growth 2021-2026 (%)
      • Exhibit 77: Data Table on Canada - Year-over-year growth 2021-2026 (%)
    • 7.12 France - Market size and forecast 2021-2026
      • Exhibit 78: Chart on France - Market size and forecast 2021-2026 ($ million)
      • Exhibit 79: Data Table on France - Market size and forecast 2021-2026 ($ million)
      • Exhibit 80: Chart on France - Year-over-year growth 2021-2026 (%)
      • Exhibit 81: Data Table on France - Year-over-year growth 2021-2026 (%)
    • 7.13 Japan - Market size and forecast 2021-2026
      • Exhibit 82: Chart on Japan - Market size and forecast 2021-2026 ($ million)
      • Exhibit 83: Data Table on Japan - Market size and forecast 2021-2026 ($ million)
      • Exhibit 84: Chart on Japan - Year-over-year growth 2021-2026 (%)
      • Exhibit 85: Data Table on Japan - Year-over-year growth 2021-2026 (%)
    • 7.14 Market opportunity by geography
      • Exhibit 86: Market opportunity by geography ($ million)

    8 Drivers, Challenges, and Trends

    • 8.1 Market drivers
      • 8.2 Market challenges
        • 8.3 Impact of drivers and challenges
          • Exhibit 87: Impact of drivers and challenges in 2021 and 2026
        • 8.4 Market trends

          9 Vendor Landscape

          • 9.1 Overview
            • 9.2 Vendor landscape
              • Exhibit 88: Overview on Criticality of inputs and Factors of differentiation
            • 9.3 Landscape disruption
              • Exhibit 89: Overview on factors of disruption
            • 9.4 Industry risks
              • Exhibit 90: Impact of key risks on business

            10 Vendor Analysis

            • 10.1 Vendors covered
              • Exhibit 91: Vendors covered
            • 10.2 Market positioning of vendors
              • Exhibit 92: Matrix on vendor position and classification
            • 10.3 Boston Lobster
              • Exhibit 93: Boston Lobster - Overview
              • Exhibit 94: Boston Lobster - Product / Service
              • Exhibit 95: Boston Lobster - Key offerings
            • 10.4 Clearwater Seafoods Inc.
              • Exhibit 96: Clearwater Seafoods Inc. - Overview
              • Exhibit 97: Clearwater Seafoods Inc. - Business segments
              • Exhibit 98: Clearwater Seafoods Inc. - Key offerings
              • Exhibit 99: Clearwater Seafoods Inc. - Segment focus
            • 10.5 Douty Brothers Inc
              • Exhibit 100: Douty Brothers Inc - Overview
              • Exhibit 101: Douty Brothers Inc - Product / Service
              • Exhibit 102: Douty Brothers Inc - Key offerings
            • 10.6 East Coast Seafood LLC
              • Exhibit 103: East Coast Seafood LLC - Overview
              • Exhibit 104: East Coast Seafood LLC - Product / Service
              • Exhibit 105: East Coast Seafood LLC - Key offerings
            • 10.7 Geraldton Fishermens Co operative
              • Exhibit 106: Geraldton Fishermens Co operative - Overview
              • Exhibit 107: Geraldton Fishermens Co operative - Product / Service
              • Exhibit 108: Geraldton Fishermens Co operative - Key offerings
            • 10.8 High Liner Foods (USA) Inc.
              • Exhibit 109: High Liner Foods (USA) Inc. - Overview
              • Exhibit 110: High Liner Foods (USA) Inc. - Business segments
              • Exhibit 111: High Liner Foods (USA) Inc. - Key offerings
              • Exhibit 112: High Liner Foods (USA) Inc. - Segment focus
            • 10.9 Nueva Pescanova SL
              • Exhibit 113: Nueva Pescanova SL - Overview
              • Exhibit 114: Nueva Pescanova SL - Product / Service
              • Exhibit 115: Nueva Pescanova SL - Key offerings
            • 10.10 Supreme Lobster
              • Exhibit 116: Supreme Lobster - Overview
              • Exhibit 117: Supreme Lobster - Product / Service
              • Exhibit 118: Supreme Lobster - Key offerings
            • 10.11 Tangier Lobster
              • Exhibit 119: Tangier Lobster - Overview
              • Exhibit 120: Tangier Lobster - Product / Service
              • Exhibit 121: Tangier Lobster - Key offerings
            • 10.12 Thai Union Group PCL
              • Exhibit 122: Thai Union Group PCL - Overview
              • Exhibit 123: Thai Union Group PCL - Business segments
              • Exhibit 124: Thai Union Group PCL - Key news
              • Exhibit 125: Thai Union Group PCL - Key offerings
              • Exhibit 126: Thai Union Group PCL - Segment focus

            11 Appendix

            • 11.1 Scope of the report
              • 11.2 Inclusions and exclusions checklist
                • Exhibit 127: Inclusions checklist
                • Exhibit 128: Exclusions checklist
              • 11.3 Currency conversion rates for US$
                • Exhibit 129: Currency conversion rates for US$
              • 11.4 Research methodology
                • Exhibit 130: Research methodology
                • Exhibit 131: Validation techniques employed for market sizing
                • Exhibit 132: Information sources
              • 11.5 List of abbreviations
                • Exhibit 133: List of abbreviations

              Research Framework

              Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

              TechnavioINFORMATION SOURCES

              Primary sources

              • Manufacturers and suppliers
              • Channel partners
              • Industry experts
              • Strategic decision makers

              Secondary sources

              • Industry journals and periodicals
              • Government data
              • Financial reports of key industry players
              • Historical data
              • Press releases
              Technavio

              TechnavioDATA ANALYSIS

              Data Synthesis

              • Collation of data
              • Estimation of key figures
              • Analysis of derived insights

              Data Validation

              • Triangulation with data models
              • Reference against proprietary databases
              • Corroboration with industry experts
              Technavio

              TechnavioREPORT WRITING

              Qualitative

              • Market drivers
              • Market challenges
              • Market trends
              • Five forces analysis

              Quantitative

              • Market size and forecast
              • Market segmentation
              • Geographical insights
              • Competitive landscape
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              The lobster market market growth will increase by $$ 4.08 bn during 2023-2026.
              The lobster market market is expected to grow at a CAGR of 10.37% during 2023-2026.
              Technavio has segmented the lobster market market by end-user (Food service and Retail) and geography (North America, Europe, APAC, Middle East and Africa, and South America).
              Boston Lobster, Clearwater Seafoods Inc., Douty Brothers Inc, East Coast Seafood LLC, Geraldton Fishermens Co operative, High Liner Foods (USA) Inc., Island Seafood, Nueva Pescanova SL, Supreme Lobster, Tangier Lobster, Thai Union Group PCL, World link food distributors are a few of the key vendors in the lobster market market.
              North America will register the highest growth rate of 37% among the other regions. Therefore, the lobster market market in North America is expected to garner significant business opportunities for the vendors during the forecast period.
              • US
              • Canada
              • China
              • Japan
              • Germany
              • France
              The key factors driving the lobster market market growth are:
              • Growth in lobster restaurants
              • Growth in e-commerce
              The lobster market market vendors should focus on grabbing business opportunities from the food service segment as it accounted for the largest market share in the base year.
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