Global Shellfish Market Report and Forecast 2024-2032

Global Shellfish Market Outlook

During 2024-2032, the global Shellfish market is likely to develop at a CAGR of 2.4%. The demand for shellfish is likely to increase significantly in the near future. Factors such as growing population, rising disposable income, and changes in culture and trade are expected to boost market growth. Asia, North America and Europe are projected to be significant markets. Europe and US are key seafood importers. Japan and China are also major seafood importers.

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Global Market Likely to be Driven by Growing Population and Increasing Disposable Income

Shellfish is high in healthy fats, lean protein, and minerals. Regular consumption of shellfish is said to enhance immunity, help weight loss, and improve brain and heart health. Shellfish may be classified into two categories – mollusks ( scallops, clams, mussels and oysters) and crustaceans (crayfish, shrimp, lobster and crab). Shellfish may be found in restaurants and grocery stores across the world, however, some regions are renowned for particular species. For example, lobster is popular in the Northeast of the USA, while shrimp is liked more South of the country. Majority of shellfish are consumed baked, fried or steamed. Buy oysters and clams are also eaten partially cooked or raw. Factors such as growing population, rising disposable income, and changes in culture and trade are expected to boost global shellfish market growth.

Health Benefits of Shellfish Likely to Stimulate Market Growth

Shellfish offers many health benefits. These health benefits are expected to boost the global shellfish market. Health benefits of shellfish include:

Amino acids – Shellfish, particularly crustaceans are rich in amino acids (building blocks of protein) needed for repair and growth and synthesis of neurotransmitters and hormones.

Decreased risk of heart disease – Polyunsaturated fats (PUFAs) and decent levels of omega-3 fatty acid present in shellfish, particularly mussels, are said to decrease risk of heart disease and help drop LDL (bad) cholesterol.

Healthy immune system – Some shellfish are rich in Carotenoids (strong antioxidants), including beta-carotene that turns to vitamin A when consumed. Vitamin A is essential for strong immunity.

May shield the skin from the effects of ageing – The antioxidant Astaxanthin (carotenoid) is present in ‘pinker’ shellfish (like lobsters, crayfish and prawns) and helps shield the skin from the effects of ageing, and preserve elasticity and moisture.

May help in the prevention of osteoporosis – High levels of vitamin B12 in most shellfish are good for healthy bone formation. Deficiency of vitamin B12 may increase the chances of osteoporosis with age.

Market Segmentation

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By type, the market is classified into:

• Oysters

• Crabs

• Prawns

• Lobsters

• Shrimps

• Others

By end use, the market is divided into:

• Food Service

• Retail

On the basis of distribution channel, the market is classified into:

• Hypermarkets and Supermarkets

• Specialty Stores

• Online

• Others

On the basis of region, the market is segmented into:

• Europe

• North America

• Latin America

• Asia Pacific

• Middle East and Africa

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Key Industry Players in the Market

The report extensively assesses major players in the global shellfish market, evaluates their capability, and observes newest developments like plant turnarounds, capacity expansions, and mergers and acquisitions:

• Wellfleet Shellfish Co

• East Coast Shellfish Growers Association

• Maruha Nichiro Corporation

• Bumble Bee Foods, LLC

• Pacific Seafood Group

• Sunnyvale Seafood

• Northeast Seafood

• Others

SWOT analysis and Porter’s Five Forces model used in the EMR report offers deep insights into the industry.

Key Highlights of the Report