USD 62.3 billion
Shellfish Market Size, Share, and Growth Analysis
Shellfish Market By Type (Oysters, Crabs), By Distribution Channel (Supermarkets/Hypermarkets, Convenience Stores), By Region - Industry Forecast 2025-2032
Report ID:
SQMIG30I2163 |
Region:
Global |
Published Date: January, 2025
Pages:
157
|Tables:
61
|Figures:
77
Format -
Shellfish Market Insights
Global Shellfish Market size was valued at USD 62.3 billion in 2023 and is poised to grow from USD 64.42 billion in 2024 to USD 84.17 billion by 2032, growing at a CAGR of 3.4% during the forecast period (2025-2032).
Restaurants, vacation spots, shops, culinary services, and hotels all place a high value on shellfish. Shellfish is a rich source of significant amounts of digestible proteins, necessary amino acids, bioactive peptides, long-chain polyunsaturated fatty acids, astaxanthin, and other carotenoids, vitamin B12, and minerals (including copper, zinc, inorganic phosphate, sodium, potassium, selenium, iodine). The population's growing health consciousness will likely fuel the shellfish business during the projected time, according to predictions.
Between 2014 and 2019 the average annual per capita consumption of seafood worldwide increased slightly from 19.9 kilograms to 20.5 kilograms. However, in 2019 seafood consumption fell to multiyear lows at 19.8 kg per capita. The most consumed type of shellfish worldwide is shrimp with 84.6% and it tops the list of the most consumed types of seafood as well which is then followed by crab with 25.3% followed by other types of shellfish. Consumer demand for shellfish and other seafood is one of the critical drivers of the current expansion of the shellfish market. Although it is estimated that shellfish prices would rise in tandem with rising demand, efforts must be made to make them reasonable; otherwise, low-income households may encounter financial difficulties in purchasing these goods. To materialize these goods as future food, removing the barriers to getting them is crucial.
US Shellfish Market is poised to grow at a sustainable CAGR for the next forecast year.
Market snapshot - 2025-2032
Global Market Size
Largest Segment
Offline
Fastest Growth
Offline
Growth Rate
3.4% CAGR
Global Shellfish Market 2021-2028 ($ Mn)
Country Share for North America Region- 2021 (%)
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Shellfish Market Segments Analysis
Global Shellfish Market is segmented by Type, Distribution Channel and region. Based on Type, the market is segmented into Oysters, Crabs, Prawns, Lobsters, Shrimp and Others (mussels, scallops, crayfish, clams). Based on Distribution Channel, the market is segmented into Supermarkets/Hypermarkets, Convenience Stores, Specialty Stores and Online Retail. Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa.
Shellfish Market Analysis by Product Type
On the basis of Product Type, the global shellfish market is segmented into crustaceans and molluscs. Crustaceans and molluscs are two more types of shellfish that can be used to further categorize the global market. In 2021, molluscs held a large portion of the market. One of the most common types of shellfish is mussels, although there are also clams, scallops, and oysters. For instance, oysters have a number of health advantages. A half-dozen oysters supply the equivalent of 2 ounces of meat since each oyster has 2 grams of protein. Oysters contain vitamin D, copper, zinc, iron, and vitamin B-12, all of which have been linked to assisting and avoiding macular degeneration, according to scientific studies. According to a study, age-related macular degeneration causes 8.7% of all blindness in the world. aging of the people would further push the people over the edge, thereby helping them in matters more than one. However, the Crustaceans segment is estimated to be the fastest-growing, with a CAGR of 3.2% over the forecast period of 2022-2028. Crustaceans include shrimps, crayfish, crab, and lobster. Since the cold storage and logistics facilities are improving so is the fulfillment attained of ready-to-eat food of this category.
Shellfish Market Analysis by Distribution Channel
On the basis of Distribution channels, the global shellfish market is segmented into Online sales and Offline sales. On-sales channels and offline-sales channels are additional divisions of the worldwide shellfish market depending on the distribution channel. In 2021, the on-sales channel dominated the market. In 2021, lockdowns were under control, which made room for a sharp increase in disposable income. According to studies, there has been an increase in purchasing power of about 3% from the pre-pandemic level, which is 2019. Additionally, the channels were opened up to hotels, restaurants, and a variety of other merchants, which had a good impact on the on-sales channel.
However, it is anticipated that the offline sales channel would expand the fastest, with a significant CAGR over the projected period of 2022–2028. A significant majority of people have adjusted their taste preferences to reflect the pandemic-related environment. Recent research revealed that people were now much more likely to stay at home and order ready-to-eat to eat food owing to comfort and safety profiles. Additionally, online vendors are offering deep discounts which allow the off-sales channel to grow rampantly. For example, lobster meat lobster meat (tail meat) is available for a deep discount of 71% from MRP. Cost points allow for better sales expression and wider market penetration.
Global Shellfish Market By Distribution Channel, 2021 (%)
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Shellfish Market Regional Insights
North America dominates the Global Shellfish Market followed by Europe, Asia Pacific, South America, and Africa. Due to the rising acceptance of diets high in protein throughout the continent, North America is predicted to experience significant growth. The East Coast Shellfish Grower's Association reported in February 2020 that over the previous five years, oyster output on the US East coast had doubled. The growing popularity of ready-to-cook foods has fueled the expansion of the frozen seafood and shellfish industries. The expansion of the market in the area is greatly attributed to well-established distribution channels and the rise of internet sales.
Due to the region's thriving foodservice industry, Asia Pacific is predicted to experience promising growth. The popularity of eating in cafés, bars, and restaurants has sparked the introduction of new products including shrimp cocktails and shellfish appetizers. The region's expanding supply network also supports the growth of the shellfish market in the Asia Pacific region.
Europe is predicted to experience positive growth because of increasing seafood intake to lower the risk of cardiovascular disease Shellfish are more popular with consumers due to their high polyunsaturated fatty acid content. Shellfish make up almost half of the value of all seafood landed in the UK, according to the Shellfish Association Great Britain. Shellfish snacks that can be enjoyed on the go have been added to the product line by producers in response to the demand for healthy snacking.
Global Shellfish Market By Geography, 2021 - 2028
- Largest
- Fastest
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Shellfish Market Dynamics
Shellfish Market Driver
- The market has grown as a result of the shellfish's general health benefits. In addition to other nutrients, shellfish are very high in lean protein, healthy fats, and a range of minerals. Additionally, studies have demonstrated that regularly consuming shellfish can boost immunity, promote weight loss, and improve health. Shellfish are rich sources of zinc, magnesium, and vitamin B12. Additionally, shellfish is a fantastic food to include in your diet to prevent obesity because it is low in calories and high in protein. The CDC estimates that in 2018, the prevalence of obesity was close to 42.4%. Additionally, India's obesity prevalence by 2020 was close to 40.3%. Omega-3 fatty acids, which are also prevalent in shellfish, help people feel full for a longer period of time. Finally, eating different shellfish has a significant impact on one's heart health. Due to its high omega-3 fatty acid content, a study found that among 18,244 Chinese males, those who consumed more than 200 grams of shellfish had a 59% lower risk of dying from a heart attack.
- The combination of technological advancements and rising demand has been a major market driver. The processing power has made it possible for the market as a whole to develop significantly. Additionally, supply networks that include cold storage have advanced, enabling improved demand fulfillment and closing the supply-demand gap. Additionally, governments in nations like India have increased their spending on cold chain warehouses, logistics, and other important areas. Additionally, a wide range of applications for AI exists in the seafood business, where it has completely taken over the market. Aqua Byte, for instance, enables measuring salmon development rates and the number of sea lice present. Additionally, Xpert Sea counts shrimp using picture recognition technology and can even forecast their growth rates. Last but not least, Aquaconnect and Aquaponics use AI to improve shrimp farm management and productivity.
Shellfish Market Restraint
- Shellfishes have a reputation for being one of the top food allergies, which hinders market expansion as a whole. A huge portion of the world's demand for shellfish is in Asia-Pacific. However, the area also has severe shellfish allergies. Tropomyosin is the protein that is in charge of triggering acute anaphylaxis. The aforementioned chemical triggers the body's immune system, which then releases histamines into the blood, causing mild to severe allergies. According to a study, 3% of the adult population has a shellfish allergy, which is 2% more common than a fish allergy. Furthermore, in Hong Kong, Singapore, and the Philippines, adults, and adolescents with shellfish allergies ranged in prevalence from 5.12 percent to 7.71%. The meal that caused allergies in most of the people (3.8%) was a crustacean, followed by fin fish (1.2%) and mollusks (1.0%) in a study population of more than 8600 participants such reasons are hindering the market growth.
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Shellfish Market Competitive Landscape
The Global Shellfish Market is highly fragmented due to the strong presence of a large number of players. As a result, the global Shellfish market has been witnessing the constant entry of new players over the years. In order to sustain the highly competitive environment, existing players differentiate themselves through innovation, quality, and product development strategies.
Top Players in Shellfish Market
- Maruha Nichiro Corporation (Japan)
- Nippon Suisan Kaisha, Ltd. (Nissui) (Japan)
- Kyokuyo Co., Ltd. (Japan)
- Thai Union Group (Thailand)
- Dongwon Industries Co., Ltd. (South Korea)
- High Liner Foods Incorporated (Canada)
- Trident Seafoods Corporation (US)
- Pacific Seafood Group (US)
- Red Chamber Co., Ltd. (China)
- Clearwater Seafoods Incorporated (Canada)
- Cooke Aquaculture Inc. (Canada)
- Austevoll Seafood ASA (Norway)
- Leroy Seafood Group ASA (Norway)
- Mowi ASA (Norway)
- Nueva Pescanova Group (Spain)
- Pescanova S.A. (Spain)
- Ornua Co-operative Limited (Ireland)
- Iglo Group (UK/Netherlands)
- Nomad Foods Limited (UK)
- Young's Seafood Limited (UK)
Shellfish Market Recent Developments
- In May 2022, The National Aquaculture Group, the largest aquaculture operation of shrimp farming, fish farming, and feed business in Saudi Arabia, received the Aquaculture Stewardship Council’s shrimp farm certification, making it the first shrimp farm in the Middle East and North Africa region to be awarded this distinction. This in turn places Saudi Arabia among the top 15 countries to have the ASC certification for shrimp.
- In January 2022, Young’s Seafood Limited expands the Gastro range with new Iceland and Food Warehouse listings. The seafood supplier has added four new SKUs to its range in retailers.
Shellfish Key Market Trends
- Food producers have been forced to develop novel plant-based seafood substitutes as a result of the growing trend toward plant-based cuisine as consumers gravitate toward sustainable and healthful food options. Growing worries about animal welfare are another factor driving the vegan and vegetarian trends. But customers seek out meals that satisfy their desires for seafood.
- Pescetarian inclination and the presence of foods with higher nutritional value are expected to flourish the growth of the market. Some of the main drivers of the market's expansion include variables like high per capita consumption, expanding edible seafood imports, strong organized retail food service industry penetration, and rising consumer spending on sushi and other seafood dishes. Pescetarianism, which is the term for people who eat vegetarian meals together with seafood but don't eat any form of red meat, is being steadily embraced by many non-vegetarian consumers. Additionally, according to the US Commercial Fisheries and Seafood Industry, roughly 80% of all seafood catch—both fresh and frozen—is consumed as human food, demonstrating that there is substantial demand for seafood throughout the nation. Additionally, due to the high need for seafood across the world, apart from manufacturers, now retailers are adapting to the use of seafood brands as a part of their strategic expansion. For instance, Walmart Inc.
Shellfish Market SkyQuest Analysis
SkyQuest's ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our business information services team that collects, collates, co-relates, and analyses the data collected by means of primary exploratory research backed by the robust secondary desk research.
According to our analysis, the region of North America has a lead over other regions, dominance of North America can be attributed to North America being by far the market leader due to the rising acceptance of diets high in protein throughout the continent, North America is predicted to experience significant growth. Companies are focusing on Supply chain management, building logistics, and cold storage for such perishable food products. The segment Crustaceans are the fastest-growing segment. People prefer online food delivery over offline serving due to the adaptation of lockdown and pandemics.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 62.3 billion |
| Market size value in 2032 | USD 84.17 billion |
| Growth Rate | 3.4% |
| Base year | 2024 |
| Forecast period | 2025-2032 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
Shellfish Market Recent Developments
|
| Customization scope | Free report customization with purchase. Customization includes:-
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Shellfish Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Shellfish Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Shellfish Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Shellfish Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Shellfish Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Shellfish Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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