Crustacean Market Forecast Report Offers Actionable Insights 2016 – 2026

Crustacean Market

Crustaceans are defined as large, diverse taxon of arthropods. These include crabs, lobsters, crayfish, shrimps, krill, woodlice, and barnacles. Some crustaceans are related to insects, while others are hexapods. Most crustaceans are aquatic animals; some are terrestrial, parasitic, and sessile. Around 10 million tons of crustaceans are produced in fisheries or aquatic farming for human consumption across the globe.

The body structure of a crustacean comprises different segments such as the cephalon (head), the thorax, and the pleon (abdomen). The head and thorax may be attached together to form a cephalothorax, which may be covered by a single large carapace. The crustacean body is protected by a hard exoskeleton, which must be molted for the animal to grow. Various parts of the exoskeleton may be fused together.

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There are more than 40,000 crustacean species including shrimps, lobsters, barnacles, crabs, and krill. The crustacean market is expanding significantly due to the high consumption of seafood across the globe. Vital nutrients in crustaceans such as protein, minerals, and vitamins are known to prevent a host of diseases. They have low saturated fat content and are significant sources of omega-3 fatty acids, docosahexaenoic acid (DHA), and Eicosapentaenoic acid (EPA).

Crustacean has emerged as a rapidly growing animal production industries in the world; nearly 10 million tons of crustaceans, mostly shrimp, prawns, crabs, and crayfish, are sold annually. Despite the remarkable rise in production over the past decade, the crustacean market is still lagging behind other agro and aqua farming industries in integration of advanced biotechnologies capable of enhancing production yields and value. The global crustacean market can be segmented based on type, application, and geography. Based on type, the crustacean market can be segmented into shrimps, prawns, lobsters, crabs, and others. In terms of application, the global crustacean market can be classified into marine waters, and inland waters. Market players are likely to adopt advanced farming and biotechnological solutions to meet the increasing demand for crustaceans. This is estimated to enable highly efficient production with the use of limited land and water resources.

Based on geography, the global crustacean market can be divided into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. The U.S. and Canada are expected to propel the crustacean market in North America. The U.K., Germany, France, Russia, Spain, Italy, and Sweden are the leading countries in the crustacean market. Asia Pacific is the dominant region of the crustacean market. China, South Korea, Japan, India, Thailand, the Philippines, Malaysia, Bangladesh, Sri Lanka, and Singapore are likely to dominate the crustacean market in Asia Pacific, with China being a rapidly developing market. China accounts for more than 30% share of the crustacean market. Israel, Turkey, the UAE, Iran, Egypt, Nigeria, Ghana, Kenya, and Saudi Arabia are some of the leading countries in the market in Middle East & Africa. The market in Latin America is dominated by Brazil, Mexico, Peru, Chile, Colombia, and Argentina.

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Several players operate at the regional and global level in the global crustacean market. Key players include Ichiboshi, International Fish Farming and Holding Company, RDM Aquaculture, Seaview Crab Company, Surapon Foods, The Crab Company, Findus Group, Mogster Group, Nireus Aquaculture, Russian Aquaculture, and Selonda Aquaculture.

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