Global Lobster Market Size Soars: Projected Growth of USD 10.3 Billion and 5.1% CAGR by 2030 | Seafood Sensation

Houston, TX, Sept. 14, 2023 (GLOBE NEWSWIRE) -- Zion Market Research has published a new research report titled “Lobster Market - By Product Type (Whole Lobster, Lobster Meat, Lobster Tail, And Lobster Claw), By Species (American Lobster, European Lobster, Spiny Lobster, And Rock Lobster), By Distribution Channel (Retail And Food Service), And By Region - Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2023 – 2030” in its research database.

“According to the latest research study, the demand of global Lobster Market size & share in terms of revenue was valued at USD 5.7 billion in 2022 and it is expected to surpass around USD 10.3 billion mark by 2030, growing at a compound annual growth rate (CAGR) of approximately 5.1% during the forecast period 2023 to 2030.”

What is Lobster? How big is the Lobster Industry?

Report Overview:

The global lobster market size was evaluated at $5.7 billion in 2022 and is slated to hit $10.3 billion by the end of 2030 with a CAGR of nearly 5.1% between 2023 and 2030.

Lobsters are marine shellfish that have a body that is elongated and cylindrical in shape, a muscular tail, eyes that are stalked, and five pairs of legs that are jointed. According to reports, lobsters have chitins covering their entire bodies. When raw, they have a colour that is somewhere between green and brown, and when cooked, they can take on a very vivid red hue. In addition to this, these animals are an excellent source of omega-3 fatty acids, phosphorus, copper, zinc, magnesium, vitamin E, and vitamin B12. In addition, the high selenium content of lobster, which acts as an antioxidant, provides patients with protection against thyroid disease when the lobster is consumed regularly. In addition, eating lobsters has been shown to alleviate inflammation, as well as boost persons' stamina and cognitive abilities.

Get a Free Sample PDF of this Research Report for more Insights with a Table of Content, Research Methodology, and Graphs - https://www.zionmarketresearch.com/sample/lobster-market

(A free sample of this report is available upon request; please contact us for more information.)

Our Free Sample Report Consists of the Following:

• Introduction, Overview, and in-depth industry analysis are all included in the 2023 updated report.
• The COVID-19 Pandemic Outbreak Impact Analysis is included in the package
• About 210+ Pages Research Report (Including Recent Research)
• Provide detailed chapter-by-chapter guidance on Request
• Updated Regional Analysis with Graphical Representation of Size, Share, and Trends for the Year 2023
• Includes Tables and figures have been updated
• The most recent version of the report includes the Top Market Players, their Business Strategies, Sales Volume, and Revenue Analysis
• Zion Market Research research methodology

(Please note that the sample of this report has been modified to include the COVID-19 impact study prior to delivery.)

Global Lobster Market: Growth Factors

The growing demand for fish in the less developed countries of Asia and the Pacific will be a major driver of market trends worldwide.

The global lobster market will expand as a result of an increase in the consumption of seafood in the developing countries of the Asia-Pacific zone, which will drive demand for lobster in other parts of the world. The sale of lobster in the food industry is anticipated to pick up steam in the years to come as a result of the high concentration of vitamins and minerals that are found in lobster. These nutrients can deliver large amounts of energy and help prevent chronic diseases. In recent years, the expansion of the market around the world has been significantly aided by a growing number of product innovations, which have contributed significantly to the growth of the industry.

As a matter of public record, food companies are expanding their product lines by introducing frozen and canned lobsters as new food products. Because of this, the expansion of the market on a global scale will quicken during the next few years. The globalisation of the market will be guided by the introduction of innovative packaging services such as vacuum skin-packaged lobster. In addition, the expansion of the global market will be guided by an increase in investments made in lobster production, which will lead to an increase in production capacity. For example, during the first half of the year 2022, High Liner Foods, which has its headquarters in North America and is a major participant in the value-added frozen seafood manufacturing business, said that it will invest in increasing the amount of value-added frozen seafood that it produces. These kinds of moves will, in the years to come, cause an increase in the size of the market.

Lobster Market: Limits and Restrictions

The skyrocketing cost of lobsters and stringent regulations relating to the protection of the environment could put the brakes on the rise of the global sector by the year 2030.

The spread of the lobster industry across the world may be hampered by factors like high product costs as well as growing environmental concerns. There has been a recent trend towards adopting a vegetarian diet, and there has also been a surge in the number of people living vegan lifestyles in both Europe and the Americas. This may impede the growth of global industry. The fear of the extinction of species that can cause an imbalance in nature has led to the installation of stringent legislation connected to the harvesting and hunting of lobsters for food. These laws have had a negative influence on the food chain and have hindered the growth of the global industry as a result.

The Opportunities Present in the Lobster Market

Rising levels of health consciousness among the general public are likely to create new expansion chances for the global market during the period covered by the forecast.

The growing awareness about the importance of physical activity and good health among people all over the world has led to an explosion in the demand for lobsters and has consequently opened up new avenues for the market for lobsters in every region of the world.

The Difficulties Facing the Lobster Market

Over the period 2023-2030, stringent government legislation regarding the consumption of seafood as a result of the use of preservatives may be able to delay the expansion of the global sector.

It is possible that stringent government regulations on the vast consumption of products and rules governing the use of preservatives that can be harmful to the health of humans will prove to be a significant obstacle for the expansion of the global lobster industry. Furthermore, in the coming years, an increase in the price of seafood caused by an increase in import levies may act as an additional barrier to the expansion of the worldwide sector.

Directly Purchase a copy of the report with TOC @ https://www.zionmarketresearch.com/buynow/su/lobster-market

Report Scope

Lobster Market: Segmentation Analysis

The market for lobster on a global scale may be broken down into four distinct submarkets: product category, species, distribution channel, and geography.       

When broken down by product type, the global market for lobster is segmented into four different submarkets: whole lobster, lobster meat, lobster tail, and lobster claw. In addition, the whole lobster category, which accounted for approximately 65 percent of the total revenue generated by the global market in 2022, is anticipated to record the greatest CAGR during the period of time covered by the projections. It is possible that an increase in the sale of items as a result of significant demand in restaurants and dining would contribute to the growth of the category over the course of the projection period.

American lobster, European lobster, spiny lobster, and rock lobster are the four sub-sectors that make up the global lobster industry. These sub-sectors are based on the species of lobster. In addition, it is estimated that the American lobster section, which had already gathered a significant portion of the global industry in 2022, will continue to dominate that industry over the course of the projected timeframe. There is a significant demand for the product in both Canada and the United States, which may have contributed to the segmental increase during the course of the evaluation period. In addition to this, the growing preference among consumers for the quality, flavour, and consistency of American lobster will contribute to the expansion of this market sector.

The global market for lobster can be broken down into the retail and food service categories, depending on the type of distribution channel used. In addition, the food service sector, which held a sizable part of the global market in 2022, is projected to take the lead in driving the expansion of the global industry throughout the course of the anticipated timeline. It's possible that massive product demand in the food service industry and massive consumer preference for high-quality seafood were the driving forces behind the segment's rise over the evaluation period. In addition, due to the extremely high demand for the product, lobsters are now being prepared in restaurants and other food service establishments in both developing and established nations.

The global Lobster market is segmented as follows:

By Product Type

• Whole Lobster
• Lobster Meat
• Lobster Tail
• Lobster Claw

By Species

• American Lobster
• European Lobster
• Spiny Lobster
• Rock Lobster

By Distribution Channel

• Retail
• Food Service

Browse the full “Lobster Market - By Product Type (Whole Lobster, Lobster Meat, Lobster Tail, And Lobster Claw), By Species (American Lobster, European Lobster, Spiny Lobster, And Rock Lobster), By Distribution Channel (Retail And Food Service), And By Region - Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2023 – 2030" Report At https://www.zionmarketresearch.com/report/lobster-market

Competitive Landscape

Some of the main competitors dominating the global Lobster market include - 

• Boston Lobster
• Tangier Lobster
• Clearwater Seafoods
• East Coast Seafood
• Geraldton Fishermen’s Co-operative
• PESCANOVA ESPAÑA
• High Liner Foods Incorporated
• Supreme Lobster
• Thai Union Manufacturing Company.

 Key Insights from Primary Research:

• According to the analysis shared by our research forecaster, the Lobster market is likely to expand at a CAGR of around 5.1% during the forecast period (2023-2030).                                                       
• In terms of revenue, the Lobster market size was valued at around US$ 5.7 billion in 2022 and is projected to reach US$ 10.3 billion by 2030.
• The global lobster market is anticipated to grow rapidly over the forecast timeline owing to a surge in the intake of fish in the emerging economies of the Asia-Pacific zone.
• In terms of product type, the whole lobster segment is slated to register the highest CAGR over the analysis period.
• Based on the species, the American lobster segment is set to dominate the species segment over the forecast period.
• Based on the distribution channel, the food service segment is expected to lead the species segment over the forecast time interval.
• Region-wise, the European lobster industry is projected to register the fastest CAGR during the assessment timeline.

Have Any Query? Ask Our Experts: https://www.zionmarketresearch.com/inquiry/lobster-market

Key questions answered in this report:

• What is the market size and growth rate forecast for Lobster industry?
• What are the main driving factors propelling the Lobster Market forward?
• What are the leading companies in the Lobster Industry?
• What segments does the Lobster Market cover?
• How can I receive a free copy of the Lobster Market sample report and company profiles?

Key Offerings:

• Market Size & Forecast by Revenue | 2023−2030
• Market Dynamics – Leading Trends, Growth Drivers, Restraints, and Investment Opportunities
• Market Segmentation – A detailed analysis By Product Type, By Species, By Distribution Channel, and By Region
• Competitive Landscape – Top Key Vendors and Other Prominent Vendors

Request for Customization on this Report as per your requirements - https://www.zionmarketresearch.com/custom/7546

(We tailor your report to meet your specific research requirements. Inquire with our sales team about customising your report.)

Regional Analysis:

North America is predicted to maintain its global market leadership position over the expected timeframe

North America, which contributed about 67% of the global lobster market revenue in 2022, will be a leading region over the assessment timeframe. Moreover, the regional market surge over the assessment timeline can be attributed to the increase in the production and intake of lobster in countries such as Canada and the U.S. Thriving seafood sector and harvesting of fish and shellfish will impel the expansion of the market across the globe.

The European lobster industry is set to register the fastest CAGR in the next couple of years owing to massive lobster demand in Europe with a trend for sustainable and high-quality seafood products. An increase in the middle-income group population in Europe will boost regional industry trends.

By Region

• North America
  • U.S.
  • Canada
  • Rest of North America
• Europe
  • France
  • UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Rest of Asia Pacific
• The Middle East & Africa
  • Saudi Arabia
  • South Africa
  • Rest of the Middle East & Africa
• Latin America
  • Brazil
  • Argentina
  • Rest of Latin America

To know an additional revised 2023 list of market players, request a brochure of the report: https://www.zionmarketresearch.com/requestbrochure/lobster-market

Browse Other Related Research Reports from Zion Market Research:

Case Erectors Market: https://www.zionmarketresearch.com/report/case-erectors-market

Shotcrete/Sprayed Concrete Market: https://www.zionmarketresearch.com/report/shotcrete-sprayed-concrete-market

IT Asset Disposition (ITAD) Market: https://www.zionmarketresearch.com/report/it-asset-disposition-market

Hospital Information System Market: https://www.zionmarketresearch.com/report/hospital-information-system-market

Access Control Market: https://www.zionmarketresearch.com/report/access-control-market

Oral Antidiabetic Drugs Market: https://www.zionmarketresearch.com/report/oral-anti-diabetic-drugs-market

Plasma Therapy Market: https://www.zionmarketresearch.com/report/plasma-therapy-market

Wine Market: https://www.zionmarketresearch.com/report/wine-market

Bio-Lubricant Market: https://www.zionmarketresearch.com/report/bio-lubricant-market

Cryotherapy Market: https://www.zionmarketresearch.com/report/cryotherapy-market

In-Mold Labels Market: https://www.zionmarketresearch.com/report/in-mold-labels-market

Cigar & Cigarillos Market: https://www.zionmarketresearch.com/report/cigars-cigarillos-market

Advanced Persistent Threat Protection Market: https://www.zionmarketresearch.com/report/advanced-persistent-threat-protection-market

Barrier Resin Market: https://www.zionmarketresearch.com/report/barrier-resin-market

Content Analytics Market: https://www.zionmarketresearch.com/report/content-analytics-market

Micro Computed Tomography Market: https://www.zionmarketresearch.com/report/micro-computed-tomography-market

Restorative Dentistry Market: https://www.zionmarketresearch.com/report/restorative-dentistry-market

Precision Farming Market: https://www.zionmarketresearch.com/report/precision-farming-market

Pigments And Dyes Market: https://www.zionmarketresearch.com/report/pigments-and-dyes-market

Predictive Analytics Market: https://www.zionmarketresearch.com/report/predictive-analytic-market

About Zion Market Research:

Zion Market Research is a leading market research organization offering industry expertise and scrupulous consulting services to clients for their business development. The reports and services offered by Zion Market Research are used by prestigious academic institutions, start-ups, and companies globally to measure and understand the changing international and regional business backgrounds.

Our client’s/customer’s conviction on our solutions and services has pushed us in delivering always the best. Our advanced research solutions have helped them in appropriate decision-making and guidance for strategies to expand their business.

Follow Us on LinkedIn: https://www.linkedin.com/company/zion-market-research/

Follow Us on Twitter: https://twitter.com/zion_research

Follow Us on Facebook: https://www.facebook.com/zionmarketresearch

Follow Us on Pinterest: https://www.pinterest.com/zionmarketresearch/

Follow Us on YouTube: https://youtu.be/Y0Yfi7N8zSs

Contact Us:

Rushikesh Dorge

USA: +1 347 690-0211

United Kingdom: +44 2032 894158

Japan: +81 50 5806 9039

India: +91 7768 006 007

Web: https://www.zionmarketresearch.com/

Blog: https://zmrblog.com/

Still, Looking for More Information? OR Want Data for Inclusion in Magazine, Case Study, or Media?

Email Directly Here with Detail Information: sales@zionmarketresearch.com