Lobster Market Share, Size, Trends, Industry Analysis Report, By Species (American, Spiny, Rock, European); By Weight; By Product Type; By Distribution Channel; By Region; Segment Forecast, 2023 - 2032

Lobster Market Share, Size, Trends, Industry Analysis Report, By Species (American, Spiny, Rock, European); By Weight; By Product Type; By Distribution Channel; By Region; Segment Forecast, 2023 - 2032

The global lobster market size is expected to reach USD 17.07 billion by 2032, according to a new study by Polaris Market Research. The report “Lobster Market Share, Size, Trends, Industry Analysis Report, By Species (American, Spiny, Rock, European); By Weight; By Product Type; By Distribution Channel; By Region; Segment Forecast, 2023 - 2032” gives a detailed insight into current market dynamics and provides analysis on future market growth.

As more people around the world adopt healthy diets and lifestyles, there has been an increasing demand for high-quality seafood products, including lobster. The growing world appetite for fish, the increasing demand for healthy seafood products, and advances in transportation and logistics have all contributed to the growth of the lobster market. According to a study, the global requirement for fish is predicted to nearly quadruple by the end of 2050 as a result of rising income & rising population. The need is likely to be satisfied by a significant increase in seafood produced on farms. As these trends continue, it is likely that the lobster industry will continue to expand, with new markets opening around the world./

The growing consumption of fish is one of the key drivers fuelling the growth of the lobster market. As more people around the world seek out healthy and nutritious food options, the demand for high-quality seafood products, including lobster, has increased significantly. The number of fish consumed worldwide has already doubled since 1998, but a Stanford University team lead by Rosamond Naylor predicts an additional 80% growth by the middle of the century.

As the global economy has grown and incomes have risen, there has been an increase in the consumption of high-end seafood such as lobster. 90% of fish production is anticipated to be used as food by 2029. Globally, it is anticipated that by 2029, the number of fish for human consumption will rise by 16.3%, or additional 25 Mt, to 180 Mt. There will be more fish available for human consumption on all continents. This trend has been driven by increased disposable income and a desire for luxury food items. This will further fuel the growth of the market in coming years..

Lobster Market Report Highlights

American Lobster segment is anticipated to grow at a faster rate owing to high demand and sustainable fishing practices.
0.5 - 0.75 lbs segment expected to witness larger market share owing to the affordability, versatility, health benefits and increased availability.
Whole Lobster segment is projected to experience a significant revenue share due to the high price point and premium status.

Food Service segment is expected to grow at a higher growth rate owing to the increasing demand from restaurants and diversification of menus.

North America is expected to have both a higher growth rate and larger revenue share due to the presence of major seafood exporters.

Europe registered the second largest growth rate in the study period owing to strong demand and growing imports.

The global players include Boston Lobster, Clearwater Seafoods, Supreme Lobster, Tangier Lobster & Thai Union Manufacturing.

Polaris Market Research has segmented the lobster market report based on species, weight, product type, distribution channel and region:

Lobster, Species Outlook (Revenue - USD Billion, 2019 - 2032)

American Lobster

Spiny Lobster

Rock Lobster

European Lobster

Lobster, Weight Outlook (Revenue - USD Billion, 2019 - 2032)
0.5 - 0.75 lbs0.76 - 3.0 lbs
Over 3.0 lbs

Lobster, Product Type Outlook (Revenue - USD Billion, 2019 - 2032)

Whole Lobster

Lobster Tail

Lobster Meat

Lobster Claw

Lobster, Distribution Channel Outlook (Revenue - USD Billion, 2019 - 2032)

Food Service

Retail

Lobster, Regional Outlook (Revenue - USD Billion, 2019 - 2032)

North America

U.S.

Canada

Europe

Germany

UK

France

Italy

Spain

Russia

Netherlands

Asia Pacific

China

India

Japan

South Korea

Indonesia

Malaysia

Latin America

Argentina

Brazil

Mexico

Middle East & Africa

UAE

Saudi Arabia

Israel

South Africa