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U.S. Crustacean Market Trends

Report ID: GMI4766
Published Date: Aug 2024
Report Format: PDF

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U.S. Crustacean Market Trends

Market trends in the U.S. crustacean that there is a huge potential for crustacean farmers, processors, and distributors operating in the industry. Fresh product consumption will increase with a rise in logistics and supply chain efficiencies. Market trends include evolving consumer preferences and technological advancements. There is a growing demand for sustainably sourced and traceable seafood, aligning with increased environmental awareness.

Additionally, innovations in aquaculture and improved farming practices are enhancing product quality and consistency. The popularity of premium and specialty crustacean products, including live and fresh options, is on the rise, driven by the expanding gourmet and health-conscious consumer segments. Furthermore, the growth of e-commerce and direct-to-consumer sales channels are reshaping distribution dynamics, providing greater accessibility and convenience for consumers.

Authors: Kiran Pulidindi, Manish Verma

Frequently Asked Questions (FAQ) :

The market size for crustacean in U.S. reached USD 5.7 billion in 2023 and is expected to record a 3.9% CAGR through 2032, fueled by increasing awareness of its health benefits.

The shrimp segment will demonstrate a 4.2% CAGR over 2024-2032, driven by growing consumer preference for versatile, high-protein seafood.

The marine waters segment held around 89% market share in 2023, due to favorable conditions for crustaceans and high commercial output from coastal aquaculture.

Acadia Crawfish Co., Bayou Bounty Crawfish, Boston Lobster Company, Cajun Crawfish Company, Crawfish Town U.S.A., East Coast Seafood Group, Eastern Fish Co., Go Crawfish, Louisiana Crawfish Company, Pacific Seafood, Ready Seafood Co.