New York, US, May 11, 2023 (GLOBE NEWSWIRE) -- According to a Comprehensive Research Report by Market Research Future (MRFR), “Crab Market Information By Type, By Form, And By Region - Forecast till 2032”, Global crab market was estimated to be worth USD 11.5 billion. The crab market is expected to expand from USD 12.20 billion in 2023 to USD 19.59 billion by 2032, at a compound annual growth rate (CAGR) of 6.10% between 2023 and 2032.
Crab Market Overview:
Rising consumer awareness of the nutritional benefits of crabs, an increase in the number of retail establishments selling crustaceans, and the growing significance of land-based aquaculture are the primary market drivers driving market expansion.
Market Scope:
Crab protein is used to create and repair bodily tissue. Crab contains high levels of EPA and DHA, two anti-inflammatory omega-3 fatty acids with long chain lengths. According to research, it can lower blood pressure, prevent cardiac disease, improve cognitive function, and treat psoriasis and ulcerative colitis.
Crabs contain minerals such as copper, zinc, and selenium, which help to boost the immune system. This article examines the market, proximate makeup, and health advantages of various crabs. Selenium is found in abundance in all crustaceans, including crab. Selenium is an antioxidant that prevents cancer by neutralising the carcinogenic qualities of cadmium, mercury, and arsenic. Selenium levels in the blood have been related to a lower chance of developing cancer. In actuality, lysate produced from the blue blood of the horseshoe crab is used to detect spinal meningitis and fight cancer. As a result of the increased health benefits and awareness, the market CAGR will rise throughout the forecast period.
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Report Scope:
| Report Attribute | Details |
| 2032 Market Size | USD 19.59 Billion |
| CAGR | 6.10% (2023–2032) |
| Base Year | 2022 |
| Forecast Period | 2023-2032 |
| Historical Data | 2018-2022 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | By Type, Form, and Region |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Key Market Drivers | Increase health benefits Growing awareness among consumers Rising number of local players |
| increased demand for seafood |
Mud crabs are well-known in captivity for their high flesh content and quick development rate. A mature mud crab weigh around 1,200 grammes. On the global market, live mud crabs are in high demand. Prices vary according to size (500 grammes, 1000 grammes, and over 1000 grammes).
Crabs are primarily consumed in the food service business. The growth of the food service business has a direct impact on the global crab market. The food service sector is expanding globally as a result of new technologies and advances, as well as menu customisation. Furthermore, the trend towards healthier and more nutritious foods, as well as rising demand for gluten-free diets, are likely to drive market expansion.
According to MPEDA, the area under mud crab cultivation in Andhra Pradesh, India, will exceed 5000 hectares by 2021. MPEDA also claimed to have found many locations in four to five districts with the capacity to cultivate mud crabs (Scylla Serrata). In 2021, the state generated about 2000 tonnes of mud crabs. Furthermore, changing lifestyles and a rising working population have opened the way for foods with less preparation time and great nutritional content, such as crabs. All of these reasons are projected to raise demand for crabs around the world.
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Key Companies in the Crab market include
- Bumble Bee Foods LLC
- Supreme Crab & Seafood Inc.
- Maine Lobster Now
- Millennium Ocean Star Corporation
- Phil-Union Frozen Foods Inc.
- JM Clayton Seafood Company
- RGE Agridev Corporation
- Siam Canadian Group Limited
- Handy Seafood.
Market Segmentation:
The global crab market is segmented on the basis of crab type, form, and region.
By type, the global crab market is segmented into blue crab, chinese mitten, gazami crab, and other crab types. The blue crab segment dominated the market, accounting for 30-35% of market revenue. The blue crab is among the finest and most delectable of the renowned crabs on the platter.
By form, the global crab market is segmented into store-based and frozen, canned, and other forms. The frozen category generated the most revenue. Crabs are one of the most frequently captured and most popular marine organisms.
By region, the global crab market is segmented into North America, Europe, Asia-Pacific, and the Rest of the World.
Browse In-depth Market Research Report (128 Pages) on Crab Market: https://www.marketresearchfuture.com/reports/crab-market-11526
Regional Analysis:
North America is the largest region in the worldwide crab market, accounting for one-third of its total share. According to a NOAA analysis, the proportion of seafood in the American diet has increased in recent years due to higher fish landings and increasing demand for imported crustaceans and other seafood from health-conscious customers.
Europe has the second-largest market share in the crab market. Demand for crabs from the food service sector is expected to rise steadily in Europe throughout the projected period. In addition, to meet expanding demand, numerous food service businesses sell crabmeat and crab rolls at moderate pricing.
Furthermore, the German crab market had the highest market share, while the UK crab industry was the fastest expanding in the European region.
During the forecast period, the Asia Pacific Crab Market is expected to expand rapidly. Population expansion, greater demand for seafood, increased disposable income, and a shift in lifestyle will drive the regional market. This demand for high-quality marine items is expected to contribute further to the area market's expansion. The region's main importers are China, South Korea, and Japan. China, Bangladesh, and Australia are the major crustacean exporters in the APAC area. Furthermore, China's crab market had the biggest market share, while India's crab market was the fastest-growing in the Asia-Pacific region.
Strategic alliances, collaborations, mergers and acquisitions, geographical expansion, and product/service launches are some of the methods used by market leaders. The crab industry must cut the cost of crabs to vendors in order to expand and thrive in a more competitive and rising market climate.
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