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Crustacean Market Growth & Trends Analysis by Fact MR
The global crustacean market (Margadh Crústaigh) is projected to be valued at USD 19.26 billion in 2024 and is expected to expand at a CAGR of 5.5% through 2034. The increasing demand for crustaceans is driven by rising consumer preference for protein-rich diets, technological advancements in aquaculture, and a surge in global seafood consumption. Rising disposable incomes, urbanization, and more awareness of the health benefits of eating seafood have all aided in market expansion. Shrimps have been a prominent contributor to overall market income, owing to their extensive consumption across countries and multiple culinary uses. The market witnesses a substantial demand for crabs and lobsters owing to their premium positioning in the seafood market. Increasing adoption of aquaculture practices, especially in developing nations, has played a significant role in meeting the growing demand for crustaceans. Aquaculture technology and technique innovation have streamlined production, increasing yields and satisfying the demands of the market.
Get Free Sample Copy of This Report-https://www.factmr.com/connectus/sample?flag=S&rep_id=9207
Key Takeaways from Market Study
The global crustacean market is projected to be valued at USD 19.26 billion in 2024 and is expected to grow to USD 32.78 billion by 2034, reflecting a compound annual growth rate (CAGR) of 5.5% from 2024 to 2034. This growth is driven by a rising demand for crustaceans, fueled by increasing consumer preference for protein-rich diets and advancements in aquaculture technology. The East Asian market is anticipated to expand at a slightly higher CAGR of 5.7% over the next decade, indicating strong regional growth prospects.
In 2024, the business-to-consumer distribution channel is forecasted to dominate the market with a 59.8% share. Among different types of crustaceans, shrimp is expected to account for the largest share, making up 34.2% of the market. North America holds a significant portion of the global market, with a 21.7% share in 2024. These figures highlight the diverse growth opportunities and regional variations within the global crustacean market.
The global crustacean market (Margadh Crústaigh) is projected to be valued at USD 19.26 billion in 2024 and is expected to expand at a CAGR of 5.5% through 2034. The increasing demand for crustaceans is driven by rising consumer preference for protein-rich diets, technological advancements in aquaculture, and a surge in global seafood consumption. Rising disposable incomes, urbanization, and more awareness of the health benefits of eating seafood have all aided in market expansion. Shrimps have been a prominent contributor to overall market income, owing to their extensive consumption across countries and multiple culinary uses. The market witnesses a substantial demand for crabs and lobsters owing to their premium positioning in the seafood market. Increasing adoption of aquaculture practices, especially in developing nations, has played a significant role in meeting the growing demand for crustaceans. Aquaculture technology and technique innovation have streamlined production, increasing yields and satisfying the demands of the market.
Get Free Sample Copy of This Report-https://www.factmr.com/connectus/sample?flag=S&rep_id=9207
Key Takeaways from Market Study
The global crustacean market is projected to be valued at USD 19.26 billion in 2024 and is expected to grow to USD 32.78 billion by 2034, reflecting a compound annual growth rate (CAGR) of 5.5% from 2024 to 2034. This growth is driven by a rising demand for crustaceans, fueled by increasing consumer preference for protein-rich diets and advancements in aquaculture technology. The East Asian market is anticipated to expand at a slightly higher CAGR of 5.7% over the next decade, indicating strong regional growth prospects.
In 2024, the business-to-consumer distribution channel is forecasted to dominate the market with a 59.8% share. Among different types of crustaceans, shrimp is expected to account for the largest share, making up 34.2% of the market. North America holds a significant portion of the global market, with a 21.7% share in 2024. These figures highlight the diverse growth opportunities and regional variations within the global crustacean market.
Crustacean Market Growth & Trends Analysis by Fact MR
The global crustacean market (Margadh Crústaigh) is projected to be valued at USD 19.26 billion in 2024 and is expected to expand at a CAGR of 5.5% through 2034. The increasing demand for crustaceans is driven by rising consumer preference for protein-rich diets, technological advancements in aquaculture, and a surge in global seafood consumption. Rising disposable incomes, urbanization, and more awareness of the health benefits of eating seafood have all aided in market expansion. Shrimps have been a prominent contributor to overall market income, owing to their extensive consumption across countries and multiple culinary uses. The market witnesses a substantial demand for crabs and lobsters owing to their premium positioning in the seafood market. Increasing adoption of aquaculture practices, especially in developing nations, has played a significant role in meeting the growing demand for crustaceans. Aquaculture technology and technique innovation have streamlined production, increasing yields and satisfying the demands of the market.
Get Free Sample Copy of This Report-https://www.factmr.com/connectus/sample?flag=S&rep_id=9207
Key Takeaways from Market Study
The global crustacean market is projected to be valued at USD 19.26 billion in 2024 and is expected to grow to USD 32.78 billion by 2034, reflecting a compound annual growth rate (CAGR) of 5.5% from 2024 to 2034. This growth is driven by a rising demand for crustaceans, fueled by increasing consumer preference for protein-rich diets and advancements in aquaculture technology. The East Asian market is anticipated to expand at a slightly higher CAGR of 5.7% over the next decade, indicating strong regional growth prospects.
In 2024, the business-to-consumer distribution channel is forecasted to dominate the market with a 59.8% share. Among different types of crustaceans, shrimp is expected to account for the largest share, making up 34.2% of the market. North America holds a significant portion of the global market, with a 21.7% share in 2024. These figures highlight the diverse growth opportunities and regional variations within the global crustacean market.
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