Crab market to grow by USD 2.8805 billion from 2022 to 2027; Rising awareness about the nutritional benefits of crabs boost the market - Technavio

NEW YORK, Aug. 18, 2023 /PRNewswire/ -- The global crab market size is estimated to grow by USD 2,880.54 million from 2022 to 2027, according to Technavio. The market is estimated to grow at a CAGR of 3.15% during the forecast period. APAC held the largest share of the global market in 2022, and the market in the region is estimated to witness an incremental growth of 79%. The regional market growth can be attributed to factors such as population growth, increased demand for seafood, rise in disposable income, and change in lifestyles. Regional consumers prefer high-quality seafood products, and this trend is expected to further contribute to the growth of the market in the region. Furthermore, China, South Korea, and Japan are the major importers in the region whereas, China, Bangladesh, and Australia are the leading exporters of crabs in APAC. For more insights on the historic period (2017 to 2021) and forecast market size (2023 to 2027) - Request a sample report

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• Special coverage on the Russia-Ukraine war; global inflation; recovery analysis from COVID-19; supply chain disruptions, global trade tensions; and risk of recession 
• Global competitiveness and key competitor positions 
• Market presence across multiple geographical footprints - Strong/Active/Niche/Trivial - buy the report!

Crab Market - Segmentation Assessment
Segment Overview

This report extensively covers market segmentation by end-user (food service and retail), environment (aquaculture and capture fisheries), and geography (APAC, North America, Europe, South America, and Middle East and Africa). 

• The food service segment will be significant during the forecast period. It is the largest end-user of crabs globally and is expected to witness a steady growth rate during the forecast period because crabmeat is one of the popular seafood dishes served in many restaurants. Various food service chains offer crabmeat and crab rolls at affordable prices to meet the growing demand. Also, the expansion of fast-casual seafood restaurant chains will drive the food service segment during the forecast period.

Insights on the market contribution of various segments, including country and region wise historic market data (2017 to 2021), and forecast market size (2023 to 2027) - Download a Sample Report

Crab Market – Market Dynamics
Key factor driving market growth

• The rising awareness about the nutritional benefits of crabs is a driving factor for the growth of the crab market.
• Usually, crab contains substantial amounts of proteins, minerals, vitamins, and is low in saturated fats, and is a significant source of omega-3 fatty acids, docosahexaenoic acid (DHA), and eicosapentaenoic acid (EPA).
• The crab has anti-inflammatory properties, which can be beneficial for people with arthritis. It also reduces blood pressure.
• Hence, such factors drive the growth of the crab market during the forecast period.

Leading trends influencing the market 

• Clean labeling is an emerging crab market trend.
• The purchasing decisions of consumers are majorly influenced by the country of origin.
• For example, consumers in the US perceive that foods packed in the US and Canada are safer to consume compared with those from other regions in terms of freshness, taste, and food safety. But the implementation of labeling incurs higher costs for producers.
• This resulted in the US government has repealed the proceeding of COOL in regions such as Canada and Mexico, as these regions claimed that the law was discriminating toward its producers.
• Hence, such trends fuel the growth of the crab market during the forecast period.

Insights on Market Drivers, trends, & Challenges, historic period(2017 to 2021), and forecast period(2023 to 2027)- Request a sample report!

What are the key data covered in this crab market report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the growth of the crab market between 2023 and 2027
• Precise estimation of the size of the crab market and its contribution to the market with a focus on the parent market
• Accurate predictions about upcoming trends and changes in consumer behavior
• Growth of the crab market across APAC, North America, Europe, South America, and Middle East and Africa
• A thorough analysis of the market's competitive landscape and detailed information about vendors
• Comprehensive analysis of factors that will challenge the growth of crab market vendors

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Table of Contents

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by End-User
7 Market Segmentation by Environment
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Company Landscape
12 Company Analysis
13 Appendix

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SOURCE Technavio