Product ID: SQMIG30I2316
Global Molluscs Market Size, Share, Growth Analysis, By Species(Crassostrea, Ruditapes Philippinarum), By Form(Frozen and Canned), By Distribution Channel(Supermarkets/Hypermarkets, Convenience Stores) - Industry Forecast 2024-2031
Report ID:
SQMIG30I2316 |
Region:
Global |
Published Date: April, 2024
Pages:
198
|
Tables:
88 |
Figures:
76
Global Molluscs Market Insights
Global Molluscs Market size was valued at around USD 63.45 billion in 2022 and is expected to rise from USD 66.31 billion in 2023 to reach a value of USD 94.29 billion by 2031, at a CAGR of 4.5% during the forecast period (2024–2031).
The Global Molluscs Market is witnessing significant growth as consumer preferences for diverse and nutritious seafood options is expanding. Molluscs, consists of a wide range of shellfish such as clams, mussels, oysters, and squid, that are valued for their rich taste, high protein content, and nutritional benefits. As global seafood consumption rises, molluscs offer a sustainable and protein-rich alternative, with aquaculture playing an important role in meeting the increasing demand. Restaurants and seafood retailers are including a variety of molluscan products into their offerings, catering to the evolving tastes of consumers who seek culinary diversity and health-conscious choices.
The market is characterized by both wild-caught and farmed molluscs, forming a diverse supply chain involving technological advancements in aquaculture practices that are contributing to increased production efficiency. With a focus on sustainability and responsible sourcing, the Global Molluscs Market is poised for continued growth, aligning with the global trend towards healthier and more environmentally conscious food choices, particularly in the seafood sector.
The global food industry has high demand for molluscs in the market. The growing consumer health concern has raised demand for nutritious food products and mollusk consumption. This lowers the risk of chronic diseases, which is projected to drive market growth during the forecast period. Furthermore, rising demand and consumption for protein-rich diets rather than high-calorie food products are moving the worldwide molluscs market forward. Seafood is a low-fat and high-protein source, and it also contains elements such as vitamins, iron, and omega-3 fatty acids, which are expected to drive market expansion. Furthermore, rising demand for processed seafood is propelling market expansion throughout the projection period.
The growing aquaculture fish output in developing economies such as China, India, and Japan are a major driving factor boosting the molluscs industry. Furthermore, increase in disposable income of consumers and rising inclination towards healthy lifestyle has contributed to an increase in the consumption of protein-rich food, have been important growth factors for the industry in recent years. In the forecasting period, market expansion is likely to be driven by the rising demand for high-quality food products due to freshness, product diversity, and convenience for food safety.
The COVID-19 pandemic-related lockdown disrupted transportation and temporarily halted the supply of fish food products. Measures resulting from COVID-19 regulations have the potential to disrupt or halt aquaculture and fishery supply networks. Unsold mollusk output has resulted in increased quantities of live fish stocks in the aquaculture business. Furthermore, it has increased the expense of feeding and increased the risk of fish mortality around the world.
US Molluscs Market is poised to grow at sustainable CAGR for the next forecast year.
Global Molluscs Market Report Snapshots
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