Global Abalone Market Research Report 2024-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2030

Global Abalone Market Research Report 2024-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2030

Abalone is a large marine gastropod mollusk. The large sea snail is most often found in the cold waters of New Zealand, Australia, South Africa, Japan, and the west coast of North America. It has extremely rich, flavorful, and highly prized meat that is considered a culinary delicacy. Among the world's most expensive seafood, abalone is often sold live in the shell, frozen, or canned. It is often cut into thick steaks and pan-fried though it can be eaten raw or added to other dishes.

Market Overview:

The latest research study on the global Abalone market finds that the global Abalone market reached a value of USD 6061.84 million in 2023. It’s expected that the market will achieve USD 10185.6 million by 2029, exhibiting a CAGR of 9.03% during the forecast period.

Influence of Regional Conflicts on the Abalone Industry

Regional conflicts restrict trade, increase social hardship, weaken governance, heighten tensions, and limit commerce and people-to-people connections. Taking the Russia-Ukraine war as an example, because such regional conflicts have a wide impact on e conomic and trade relations, they have various direct or indirect impacts on the industry.

Due to the war between Russia and Ukraine, trade routes and transport networks will be disrupted. After the outbreak of COVID-19, global transportation has been severely affected. The conflict between Russia and Ukraine has exacerbated the traffic problem, affecting sea, land and air transport. At the same time, the war between Russia and Ukraine destroyed the transportation infrastructure and caused serious traffic disruption. Disruption of transportation will affect the safety of the industry's supply chain, and changes in transportation routes will also incre ase transportation costs. This has caused delays or interruptions in the import and export of abalone products from conflict areas, affecting supply chains and causing potential shortages in certain markets.

Abalone is rich in vitamin A, calcium, iron, zinc, selenium, magnesium and other minerals, and its protein content is as high as 40%. Abalone is well known for its nutrition and delicacy.

Gourmet dishes will often simply fry steaks, sometimes in butter and with mushrooms, while one favorite California dish breads it before cooking. It's very common to see abalone in upscale versions of Southeast Asian restaurant dishes, including raw as sashimi or tartare, as part of a baked seafood medley platter, or as a topping for soup and porridge.

Also, in Chinese cuisine, abalone that is cooked and then dried is called dried abalone. Dried abalone is popular in China, and inland areas of Japan. Today, abalone is one of the most expensive seafood in the world and is widely known to people all over the world.

There are growing concerns about the impacts of aquaculture, particularly the use of chemicals and antibiotics, introduction of disease to wild populations, pollution and destruction of natural habitats. As the world's demand for seafood continues to increase, it is important to encourage green and sustainable aquaculture practices and promote the consumption of seafood farmed in this way. More than 50% of seafood currently available for human consumption is farmed, and abalone is more than 95%.

As the world's demand for seafood continues to grow, so does the need for green aquaculture practices. Consumers and governments want sustainable and responsible abalone products. As the abalone farming industry matures, people have a better understanding of abalone's diet and living habits. A mature farming industry can largely reduce the negative impacts of aquaculture, such as feed formulation optimization, wastewater treatment and so on.

In the short term, this trend may lead to higher production costs for companies as they need to spend more on research and development of new facilities and solutions. But in the long run, this is good for the industry. On the one hand, due to the rising awareness of environmental protection, food in line with ecological ethics will be accepted by a wider range of residents. As the economy develops and residents' consumption upgrades, they will be more willing to pay attention to the business of sustainable enterprises. On the other hand, good compliance is less hindered by the government's environmental protection management policies in business, and industrial transformation is conducive to the further development of the mark

Region Overview:

From 2023-2028,China is estimated to witness robust growth prospects.
In 2022, the share of the Abalone market in China stood at 80.82%.

Company Overview:

Fujian Zhongxin Yongfeng Industrial Co., Ltd
For the quick-frozen large abalone produced by Yongtaifeng (Fujian) Food Co., Ltd., the abalone raw materials are freshly shipped directly from the sea area owned by the group.

Xunshan Group Co Ltd

Xunshan Group Co., Ltd. is a national large-scale township enterprise group focusing on the development of marine fishery breeding. There are 3,000 employees, total assets of 700 million yuan, a land area of 1,200 hectares, 48,000 mu of sea area with confirmed rights, and 16,000 mu of real cultivation area. It involves more than 20 industries such as seawater breeding and breeding, marine food processing, seaweed chemical industry, animal pharmaceutical industry, forging, economy and trade, and port and shipping.
Fujian Zhongxin Yongfeng Industrial Co., Ltd is one of the major players operating in the Abalone market, holding a share of 7.92% in 2023.

Fujian Zhongxin Yongfeng Industrial Co., Ltd，Xunshan Group Co Ltd，Wando Abalone Co., Ltd ,Yumbah，Abagold are the five key players in the global Abalone market. These companies have shown consistent growth in revenue, larger volumes of sales and a prominent presence in terms of share in the global Abalone market in the past 5 years.

Segmentation Overview:

Haliotis Discus Hannai
Its shell surface is dark brown or semi-green, it does not look smooth, and has a sense of rock texture. It is a common breed in northern and southern China.

Red Abalone

Red abalone is the largest type of abalone. The largest individual weighs about 2000G, and the diameter of the shell can reach more than 28 cm. along the coast. The shell can be used as a decorative material.

Black Lip Abalone

It is named for its black lip. Blacklip abalone grows in the reefs along the coasts of southern Australia, and grows in South Australia, Tasmania, New South Wales and other sea areas. It has a strong flavor and a strong color.

Green Lip Abalone

Green lip abalone is produced in Australia. Its lips are green, the meat is tender, and it has a strong flavor. It is often made into frozen abalone or boiled abalone soup. It is the most popular abalone species in southern China and Hong Kong.

Others

Other varieties of abalone include brown edge abalone, net abalone, hybrid abalone, sheep abalone, Taiwan abalone, ear abalone, mochi abalone, Jipin abalone and so on.

The Haliotis Discus Hannai segment by type showed a value growth of 0.1% in 2022.

Among different product types, Haliotis Discus Hannai segment is anticipated to contribute the largest market share in 2028.

Application Overview:

Food Processing
The food processing industry is a food industry that transforms food into a form that consumers can use directly through physical or chemical means, aiming to make food ingredients easier to package and cook.

Catering

Catering is a food production and operation industry that provides consumers with various drinks, food, consumption places and facilities through the integration of instant processing and production, commercial sales and service labor.

Retail

Retail is the last stop of the commodity supply chain. All upstream suppliers are participants in adding value to commodities, and retail customers are consumers.

By application, the Catering segment occupied the biggest share from 2018 to 2022.

Key Companies in the global Abalone market covered in Chapter 3:

Fujian Zhongxin Yongfeng Industrial Co., Ltd
Zoneco Group Co., Ltd
Western Abalone
Wando Abalone Co., Ltd
Craig Mostyn Group
Viking Aquaculture
Yumbah
Tasmania Seafoods
Rare Foods Australia
Streaky Bay Marine Products
Xunshan Group Co Ltd
Aqunion
Ocean Road
Abagold

In Chapter 4 and Chapter 14.2, on the basis of types, the Abalone market from 2019 to 2030 is primarily split into:

Haliotis Discus Hannai
Red Abalone
Black Lip Abalone
Green Lip Abalone
Others

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Abalone market from 2019 to 2030 covers:

Food Processing
Catering
Retail

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2019-2030) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)