Crustaceans Market Dynamic Growth Factors, and Outlook until 2031 | Ready Seafood, Acadia Crawfish, DNi Group LLC

WILMINGTON, DE, UNITED STATES, December 30, 2024 /EINPresswire.com/ -- Global Crustaceans Market size was valued at $16.4 billion in 2021, and is estimated to reach $25.3 billion by 2031, growing at a CAGR of 4.5% from 2022 to 2031.

The market for crustaceans has been hampered by the depletion of sea species; nevertheless, sustainable fishing methods may enhance the availability of crustaceans to satisfy rising demand. Collaboration between fishermen and fish farmers, as well as processors, distributors, merchants, restaurants, and food service providers, is intended to give a solution to environmental challenges and assist make the crustacean market more environmentally, economically, and socially sustainable.

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Crustaceans are a varied group of arthropods that include well-known species including crayfish, shrimp, crabs, lobster, prawns, krill, woodlice, and barnacles. China produces half of the crustacean production. The crustacean market is fueled by a number of factors, including rise in demand due to increased health advantages and a growth in the adoption of environment-friendly production practices. Other factors propelling the crustacean business include contract farming and government policies.

The rise in demand for seafood products is one of the primary factors that is driving the global crustaceans market growth. During the forecast period, the global market is predicted to rise due to a shift in consumer preferences toward healthier food such as seafood, which is regarded as a rich source of animal proteins. Furthermore, market players are expected to benefit from enhanced flavor and expanded marketing levels, during the crustaceans market forecast period. However, high processing costs and strict government rules governing crustacean cultivation, import, and export may limit the expansion of the crustacean market. Market participants have the possibility to expand further due to strong growth in the food processing and agriculture industries, despite these obstacles.

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In 2021, Asia-Pacific accounted for 66.10% in the global crustaceans market, and is expected to maintain its dominance during the forecast period. However, LAMEA and Europe are expected to possess the highest CAGRs, owing to rise in health concerns among people and increase in popularity of crustaceans in these regions. These crustaceans market trends are driving the market growth.

The major players analyzed for global crustaceans industry are Ichiboshi, International Fish Farming and Holding Company, RDM Aquaculture, Seaview Crab Company, Surapon Foods, The Crab Company, Findus Group, Møgster Group, Nireus Aquaculture, Russian Aquaculture and Selonda Aquaculture. These major crustaceans market players have adopted various strategies such as product launch and acquisition to expand their market reach.

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