About Crustaceans
Crustaceans are made up from a very large groups of the Arthropods which include the crayfish, shrimp, krill, crabs, lobsters, barnacles brine shrimp, copepods, mantis shrimp, and ostracods. Crustaceans are found in a wide range of habitats most are free-living freshwater or marine animals, but some are terrestrial, some are parasitic and some do not move. Increasing demand for seafood globally is driving the growth of the Crustaceans market in the forecast period.
Attributes | Details |
---|
Study Period | 2017-2027 |
Base Year | 2021 |
High Growth Market | Asia Pacific |
Unit | Value (USD Million) |
CAGR | 4.9% |
Crustaceans market players are developing market strategies inline with the ongoing trends in the market. Leading manufacturers are using business strategies such as merger and acquisitions and collaborative distribution network to strengthen their supply chain with focus on increasing geographic footprints. Additionally, many leaders are also concentrating on the new development of crustacean-based food products especially seafood to further increase their consumer base.The Vendors having a strong hold in the market are High Liner Foods, Royal Greenland, and The Clover Leaf Seafoods Family. Analyst at AMA Research estimates that American Vendors will contribute the maximum growth to Global Crustaceans market throughout the forecasted period. Established and emerging Vendors should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
High Liner Foods (Canada), Royal Greenland (Greenland), The Clover Leaf Seafoods Family (Canada), Ocean America Food (Ecuador), Asmak (United Arab Emirates), RDM Shrimp. (United States), Ichiboshi Corporation (Canada) and AquaChile (Chile) are some of the key players that are part of study coverage.
Segmentation Overview
AMA Research has segmented the market of Global Crustaceans market by Type (Lobster, Shrimp, Crab and Others), Application (Food Industry, Pharmaceutical Industry, Cosmetic Industry and Others) and Region.
On the basis of geography, the market of Crustaceans has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Culture Area, the sub-segment i.e. Inland Waters will boost the Crustaceans market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Distribution Channel, the sub-segment i.e. Modern Trade will boost the Crustaceans market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Market Leaders and their expansionary development strategies
On 25th January 2022, UPSIDE Foods the leading company in the cultivated meat, poultry, and seafood industry, announced acquisition of Cultured Decadence, a Madison, Wisconsin-based cultivated seafood company.This acquisition comes on the heels of UPSIDE's recent opening of the Engineering, Production, and Innovation Center (EPIC) in California, the world's most advanced cultivated meat, poultry, and seafood production facility. EPIC will be able to produce both UPSIDE's existing product and species portfolio as well as Cultured Decadence's, demonstrating the validity of UPSIDE's multi-species technology platform.
The UK government has declared that lobsters, crabs, octopuses and related species will be included under the Animal Welfare (Sentience) Bill. This paves the way for legal protection from practices like being boiled alive and having the tendons of their pincers cut.
Market Drivers
- Higher Consumption of Fish and Sea Food Products
- Increasing Awareness Regarding Health Benefits Associated with the Consumption of Crustaceans
Opportunities
- Increasing Demand from Food Industry and Cosmetics Industry
Restraints
Key Target Audience
Crustaceans Manufacturers, Regulatory & Government Bodies, Downstream Vendors, End Users and Other
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have the better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with purpose to understand companys positioning regarding market value, volume and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders etc. and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, analyst team keeps preparing set of questionnaires and after getting appointee list; the target audience are then tapped and segregated with various mediums and channels that are feasible for making connection that includes email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey etc.