Dublin, May 03, 2024 (GLOBE NEWSWIRE) -- The "Global Lobster Market Report by Species, Weight, Product Types, Distribution Channel, Region and Company Analysis 2024-2032" report has been added to ResearchAndMarkets.com's offering.
The global lobster industry is experiencing a significant growth trajectory, with projections indicating a rise from US$ 6.36 Billion in 2023 to an impressive US$ 13.60 Billion by the year 2032. This marks a steady compound annual growth rate (CAGR) of 8.81% over the forecast period. This expansion is bolstered by rigorous mergers, acquisitions, and strategic collaborations among key industry players, fueling innovation and market diversification.
Health Benefits Elevate Lobster Demand
The market upswing is partially attributed to the increasing awareness of the health benefits associated with lobster consumption. Packed with omega-3 fatty acids, vitamins, and essential minerals, lobster is lauded for its ability to improve metabolism, aid brain function, and reduce the risk of heart diseases and inflammatory conditions. These factors are influential in the expanded use of lobster across diverse culinary applications.
Asia Pacific Dominates Lobster Consumption
The Asia Pacific region is notably the largest consumer of lobster, with China at the forefront, celebrating the crustacean as a symbol of luxury and opulence in culinary settings. Despite projected ebbs in Asian market demand, the global seafood consumption rate is expected to incrementally grow, as indicated by an OECD/FAO report.
Leading Companies in the Lobster Market
The report identifies leading companies that dominate the lobster market sphere, including entitles like High Liner Foods Incorporated, Clearwater Seafoods, and Thai Union Manufacturing Company Ltd, among others. These entities have been extensively profiled, covering their recent developments and revenue analysis.
New Product Innovations
2024 has ushered in new product launches, leveraging lobster's versatility and appeal. Innovative offerings such as upcycled lobster ingredient-based lip treatments and lobster dips have hit the market, reflecting the industry's adaptability and responsiveness to evolving consumer preferences.
Detailed Market Segmentation
The report provides a comprehensive breakdown of the global lobster market based on species, weight, product types, and distribution channels. This detailed segmentation illustrates the depth and complexity of the lobster market, encompassing a vast array of consumer demands across various regions. Additionally, the report encapsulates extensive data on lobster market dynamics within 25 geographically diverse countries.
The global market for lobster is illustrative of dynamic growth, innovation, and strategic industry maneuvers, all poised to cater to the burgeoning demand and preferences of a global clientele.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 200 |
| Forecast Period | 2023 - 2032 |
| Estimated Market Value (USD) in 2023 | $6.36 Billion |
| Forecasted Market Value (USD) by 2032 | $13.6 Billion |
| Compound Annual Growth Rate | 8.8% |
| Regions Covered | Global |
Companies Featured
- Boston Lobster
- Clearwater Seafoods
- High Liner Foods Incorporated
- Thai Union Manufacturing Company Ltd,
- East Coast Seafood Group
- Geraldton Fishermen’s Co-operative
- PESCANOVA ESPAÑA SL,
- Supreme Lobster
- Tangier Lobster
For more information about this report visit https://www.researchandmarkets.com/r/o4c1qt
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