Global Lobster Market Size and Share Outlook - Forecast Trends and Growth Analysis Report (2025-2034)

Global Lobster Market Growth

By 2030, the consumption of aquatic animals is expected to rise by 15% and the market supply is expected to reach around 21.4 kilograms per individual. Evolving dietary trends which focus on holistic nutrition and animal welfare, changes in post-harvest practices, and rapid industrialisation and urbanisation are some drivers of the lobster market expansion. By 2030, the aquaculture industry is expected to reach a size of 106 million tons whereas seafood production (excluding algae) is likely to record 202 million tons.

By 2030, aquaculture is expected to accommodate 50-80 million tons of the demand for seafood products, thereby favourably influencing the lobster market dynamics. Based on industry estimates, the global per capita consumption of aquatic animals is around 20.2 kilograms. In 2020, around 89% of the world’s total production of aquatic animals was used for direct human consumption (over 157 million tons), and they accounted for over 50% of animal protein consumption by consumers in Asia and Africa. Around 70% of the world’s seafood production in 2020 was concentrated in Asia, followed by North America, Europe, and Africa. Based on market forecasts, the Asia Pacific is expected to witness a noticeable increase, driven by rapid population growth and increasing demand for protein-rich food items.

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Purchase the Regional Overview for USD 1099

If you choose to purchase the full report at a later stage, the amount already paid will be adjusted, and you will only need to pay the remaining balance.

Purchase the Regional Overview for USD 1099

If you choose to purchase the full report at a later stage, the amount already paid will be adjusted, and you will only need to pay the remaining balance.

Purchase the Regional Overview for USD 1099

If you choose to purchase the full report at a later stage, the amount already paid will be adjusted, and you will only need to pay the remaining balance.

Key Trends and Developments

Global Lobster Market Trends

Increasing volume of lobster trade between Vietnam-China

During January-September 2024, China’s imports of Vietnamese lobster rose to USD 205.87 million, thereby recording a 3,285% year-on-year growth. As per China’s General Administration of Customs, lobsters accounted for 37% of all shipments from Vietnam, which can be attributed to the rising appeal for high-end foods among people and a 23% year-on-year reduction in import prices. During September 2024, Vietnamese lobster imports by China recorded a monthly growth rate of 133.9%. This trend is also prominent among other Asia Pacific countries, thereby making Vietnam a key stakeholder in the lobster market share.

Rising popularity of Caribbean lobster

Caribbean spiny lobster, alternatively known as Panulirus argus, is the most commercially significant lobster species by volume, which is boosting the lobster market revenue. Other commercially important species include the Western Rock Lobster present along the Western Australian coast, and the Southern rock lobster found along New Zealand’s coast. Over the forecast period, the growing demand for protein-rich seafood is expected to play a critical role in driving the supply of Caribbean spiny lobster, thereby leading to market growth.

Global Lobster Industry Segmentation

Global Lobster Market Share

Based on region, the market is segmented into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. Over the forecast period of 2025-2034, the market for lobster in the Asia Pacific is expected to grow at a CAGR of 8.4% due to the evolving dietary preferences of consumers and rising export demand. The lobster market analysis suggests that India and Australia are expected to grow at a CAGR of 9.6% and 5.7% due to improvements in aquaculture technologies that have made lobster production more sustainable and efficient.

Based on type, the market is divided into fresh, canned, and frozen. The lobster market forecast suggests that frozen lobster demand is expected to grow at a CAGR of 8.0% during the forecast period of 2025-2034 due to its ease of storage and evolving consumer perceptions towards seafood consumption.

Leading Companies in the Global Lobster Market

Other players included in the lobster market report are Mazzetta Company, LLC, Luke's Lobster, Westmorland Fisheries Ltd., Champlain Seafood, Cozy Harbor Seafood, Inc., and Shucks Maine Lobster, among others.