Crab Meat Market

Market Study on Crab Meat: Growing Demand for Seafood, and the Expansion of Aquaculture Practices to Collectively Push the Growth Outlook of the Market, PMR Foresees

A Detailed Analysis of the Crab Meat Market Based on the Rising Consumer Preference for Seafood for its Perceived Health Benefits

Report ID: PMRREP33991

Number of Pages: 193

Format: PPT*, PDF, EXCEL

Industry: Food and Beverages

Published Date: February-2024

Report Price

$4900*

Buy Now

Crab Meat Market

The global crab meat market is forecast to expand at a CAGR of 6.3% and thereby increase from a value of US$1.2 Bn in 2023, to US$1.9 Bn by the end of 2030.

Attributes

Key Insights

Crab Meat Market Size (2023E)

US$1.2 Bn

Projected Market Value (2030F)

US$.9 Bn

Global Market Growth Rate (CAGR 2023 to 2030)

6.3%

Historical Market Growth Rate (CAGR 2018 to 2022)

5.9%

Sample Report

Report Sample is Available

In-depth report coverage is now just a few seconds away

Download PDF Get Report Sample

Market Introduction and Definition

The crab meat market pertains to the global industry involved in the harvesting, processing, and distribution of crab meat for consumption. This market offers various crab meat products, including lump crab meat, claw meat, and special-grade crab meat. Crab meat is esteemed for its sweet and delicate flavor, making it a popular choice in culinary applications worldwide. Key factors influencing the market include consumer preferences for seafood, the convenience of ready-to-eat crab meat products, and the expansion of the foodservice sector.

Sustainability and traceability in crab harvesting practices are emerging trends, as the market addresses concerns about overfishing and environmental impact. Market players focus on product quality, innovative processing methods, and adherence to industry regulations. The crab meat market is experiencing growth due to several factors. Increasing consumer demand for seafood, driven by perceptions of health benefits and culinary diversity, contributes to the market's expansion.

Crab meat's unique and delicate flavor, along with its versatility in various cuisines, makes it a sought-after choice among consumers. Additionally, the convenience of ready-to-eat crab meat products caters to busy lifestyles. The growth is further fueled by the rise in the global foodservice industry and the continuous efforts of market players to enhance processing techniques, ensure product quality, and address sustainability concerns. As a result, the crab meat market is evolving to meet changing consumer preferences and capitalize on the increasing popularity of seafood products.

Custom Report Cover

Make This Report Your Own

Take Advantage of Intelligence Tailored to your Business Objective

> Get a Customized Version

Market Dynamics

Increasing Trend of Globalization of Food Markets

Increased globalization of food markets is a significant driver for the crab meat market due to several interconnected factors. As international trade and distribution networks expand, crab meat becomes more accessible to consumers in diverse regions. Globalization exposes people to new culinary experiences and fosters a growing appreciation for seafood, including crab meat, across different cultures.

Increased connectivity facilitates the exchange of culinary trends, recipes, and dining preferences, influencing consumer choices positively. Importantly, it enables a broader market reach for crab meat producers, creating opportunities for business growth and expansion. The interplay of globalization, diverse tastes, and the appeal of seafood collectively propels the crab meat market forward, making crab meat a popular and sought-after product in a globalized food landscape.

Increased consumer demand for seafood is a key driver of the crab meat market due to shifting dietary preferences and a growing awareness of the nutritional benefits associated with seafood consumption. Seafood, including crab meat, is rich in essential nutrients such as omega-3 fatty acids and high-quality proteins, appealing to health-conscious consumers.

The rising interest in diverse culinary experiences and the perception of seafood as a flavorful and nutritious option contribute to the demand for crab meat. Additionally, consumers are increasingly seeking alternatives to traditional protein sources, and the unique taste and versatility of crab meat make it an attractive choice. As a result, the crab meat market experiences growth as it caters to the evolving preferences and health-conscious mindset of consumers worldwide.

Market Research Methodology

Market Research Methodology

-Perfect through Years of Diligence

Check Research Methodology

Market Restraints

Seasonal Variability

Seasonal variability significantly impacts the crab meat market due to the nature of crab fishing and reproduction cycles. Different crab species have specific seasons when they are more abundant and legally harvestable. For example, many crab species undergo molting and mating during certain times of the year, affecting their availability for harvest. During mating seasons, there may be restrictions on harvesting to protect the reproductive cycles and ensure sustainable crab populations.

Seasonal changes can result in fluctuations in supply, affecting market availability and pricing. This inherent seasonality necessitates careful management, with industry players and regulators closely monitoring and adapting to these cycles to maintain a balance between meeting market demands and ensuring the long-term sustainability of crab populations.

Price Volatility, and Various Regulatory Hurdles

Price volatility in the crab meat market poses a challenge due to various factors affecting production costs. Fluctuations in fuel prices, currency exchange rates, and labor expenses impact the overall cost of harvesting, processing, and distributing crab meat. The perishable nature of seafood further amplifies the challenge, as maintaining quality standards throughout the supply chain can be costly.

Unpredictable weather conditions and environmental factors also influence crab populations, affecting catch sizes and contributing to price instability. This volatility can lead to challenges in setting competitive and consistent pricing structures, potentially impacting profit margins for industry participants. Effective risk management strategies and adapting to changing economic conditions are crucial for mitigating the impact of price fluctuations in the dynamic crab meat market.

Opportunities

Diversification of Product Offerings

Diversification of product offerings in the crab meat market presents a significant opportunity by catering to evolving consumer preferences and expanding market share. Introducing new and innovative crab meat products, such as flavored variations, value-added seafood options, or convenient ready-to-eat choices, allows industry players to capture a broader audience. Consumer demand for culinary diversity and convenience creates a fertile ground for experimenting with different forms and preparations of crab meat.

Diversification not only taps into emerging food trends but also enhances brand loyalty by offering a range of choices. Additionally, adapting to diverse consumer preferences positions the crab meat market as dynamic and responsive, fostering sustained interest and growth in a competitive culinary landscape.

Online retailing represents a significant opportunity for the crab meat market by providing a convenient and accessible platform for consumers. The growing trend of online shopping allows crab meat producers to reach a broader customer base, overcoming geographical limitations. E-commerce platforms offer the convenience of doorstep delivery, catering to busy lifestyles and increasing demand for hassle-free seafood purchasing. Online channels also enable direct-to-consumer sales, cutting intermediary costs and potentially enhancing profit margins.

Moreover, digital platforms provide a space for effective marketing, storytelling, and conveying the sustainability and quality attributes of crab meat products, influencing consumer choices positively. Embracing online retailing aligns with changing consumer behaviors, driving market expansion and visibility in the competitive seafood industry.

Analyst’s Viewpoint

The future of the crab meat market appears promising, driven by various factors. Growing consumer awareness regarding the health benefits of seafood, including the rich nutritional profile of crab meat, is expected to fuel market demand. Changing dietary preferences and an increasing focus on protein-rich diets contribute to the market's positive outlook. Additionally, advancements in sustainable fishing practices and aquaculture techniques address environmental concerns, ensuring a steady supply of crab meat.

The Asia Pacific region is anticipated to continue experiencing significant growth due to its thriving seafood industry. Technological innovations in processing and packaging further enhance market efficiency. Overall, the crab meat market is likely to witness sustained expansion, driven by a combination of health-conscious consumer trends, global culinary influences, and improvements in sustainability practices.

Supply-side Dynamics

The crab meat market is influenced by dynamic demand-supply dynamics. Increasing consumer awareness of the health benefits of crab meat is driving demand, while the supply is impacted by factors such as sustainable fishing practices and aquaculture. Current pricing structures reflect these dynamics, with premium prices for sustainably sourced and high-quality crab meat. Pricing will play a pivotal role in long-term growth, as affordability and market penetration become critical factors.

Major trends driving competition include product innovation, sustainability initiatives, and strategic partnerships. Supply chain analysis reveals the importance of efficient harvesting, processing, and distribution channels to meet the demand while maintaining quality standards. The integration of technology for traceability and transparency is becoming crucial, ensuring a resilient and responsive supply chain in the crab meat market.

Market Segmentation

Which is the Most Favored Product Type Worldwide?

Lump Crab Meat Remains Favored Among Consumers and Chefs Alike

Lump crab meat has captured the largest market share in the crab meat market due to its premium quality and versatile culinary applications. Lump crab meat is composed of larger, whole pieces of crab muscle, often from the body, and is prized for its firm texture, and sweet taste. This type of crab meat is preferred in various culinary preparations, including salads, crab cakes, and upscale seafood dishes, enhancing its market demand among both consumers and chefs.

The perceived high quality and aesthetic appeal of lump crab meat contribute to its dominance, as consumers are often willing to pay a premium for a product associated with superior taste and presentation in the culinary landscape.

What is the Most Widely Consumed Form of Crab Meat?

Fresh Crab Meat Unbeaten Due to its Unmatched Taste, Texture, and Versatility

Fresh crab meat has captured the largest market share in the crab meat market due to its superior taste, texture, and versatility in culinary applications. Consumers value the authentic flavor and natural sweetness of fresh crab meat, making it a preferred choice for various dishes. Fresh crab meat is often associated with a premium quality, especially when sourced directly from live crabs.

The demand for fresh crab meat is driven by its use in a wide range of preparations, including salads, sandwiches, soups, and main dishes. Additionally, the perception of freshness aligns with the growing consumer preference for minimally processed and natural foods, contributing to the dominance of fresh crab meat in the market.

Which is the Largest Contributing Sales Channel?

Foodservice Emerges as the Topmost Sales Channel as Demand from High-quality Meat Soars in Hospitality Sector

The foodservice (HoReCa) sales channel has captured the largest market share in the crab meat market due to several factors. The hospitality industry demands consistent and high-quality crab meat to meet the diverse culinary needs of restaurants, hotels, and catering services. The convenience of sourcing pre-prepared crab meat in bulk quantities aligns with the operational requirements of foodservice establishments, reducing preparation time and labor costs.

Additionally, foodservice providers often seek premium-quality products to enhance the overall dining experience for their customers. The wide array of crab meat applications in restaurant menus, including salads, sushi, and seafood platters, further drives the demand for crab meat through the Foodservice channel, solidifying its dominance in the market.

Top Regional Markets

North America’s Leadership Thrives on the back of a Prominent Meat Industry

North America captured the largest market share in the crab meat market due to several factors. Firstly, the region benefits from a robust demand for seafood products, with crab meat being a popular and versatile choice among consumers. Additionally, the well-established seafood industry in North America ensures efficient distribution channels and widespread availability of crab meat.

The region's stringent quality and safety standards further contribute to consumer confidence in the product. Moreover, a growing trend towards healthier eating habits and increased awareness of the nutritional benefits of crab meat have fueled its popularity. These factors collectively position North America as a dominant player in the thriving crab meat market.

Rich Marine Biodiversity to Advance Asia Pacific’s Growth Outlook

The Asia Pacific region is experiencing the highest CAGR in the crab meat market for several reasons. The region boasts a rich marine biodiversity and is a major hub for crab harvesting and processing. The rising disposable income in key countries within Asia Pacific has led to an increased demand for premium seafood products, including crab meat.

Furthermore, a growing awareness of the nutritional benefits of crab meat and a shift towards Western culinary influences contribute to its popularity. Additionally, expanding aquaculture practices and advancements in processing technologies further boost the availability and accessibility of crab meat, propelling the market's growth in the Asia Pacific region.

Competitive Intelligence and Business Strategy

The crab meat market exhibits a competitive landscape characterized by the presence of key players focused on product innovation, sustainable sourcing, and strategic collaborations. Companies such as Thai Union Group, Phillips Foods, Blue Star Foods, and The Crab Company are prominent players, emphasizing quality assurance and expanding their product portfolios. Sustainable fishing practices and certifications play a crucial role in gaining consumer trust.

Additionally, strategic partnerships with distributors and retailers enhance market reach. Continuous research and development efforts to introduce value-added products and meet evolving consumer preferences contribute to the competitiveness of key players. The market's dynamism is further fueled by a combination of global and regional players striving for market share through diverse marketing and production strategies.

Key Recent Developments

New Product Launch

Pescafresh, an Indian seafood supplier specializing in mud crabs, has inaugurated a new processing and distribution hub located in Mumbai.

Market Impact: Pescafresh's inauguration of a new processing and distribution hub in Mumbai is likely to impact the Crab Meat Market positively. With a focus on mud crabs, this strategic move enhances Pescafresh's processing capabilities and distribution efficiency. It may contribute to increased availability of high-quality crab meat in the market, meeting the growing demand for seafood products. The new hub positions Pescafresh to cater to consumer preferences, potentially expanding its market share in the Crab Meat segment, particularly in the Mumbai region.

Crab Meat Market Report Scope

Attribute

Details

Forecast Period

2023 to 2030

Historical Data Available for

2018 to 2022

Market Analysis

US$ Million for Value

Key Regions Covered

  • North America
  • Latin America
  • Europe
  • South Asia & Pacific
  • East Asia
  • The Middle East & Africa  

Key Countries Covered

  • United States
  • Canada
  • Germany
  • United Kingdom
  • France
  • Italy
  • Spain
  • Russia
  • China
  • Japan
  • South Korea
  • India
  • Thailand
  • Malaysia
  • Indonesia
  • Australia
  • New Zealand
  • GCC Countries
  • South Africa  

Key Market Segments Covered

  • Product Type
  • Form
  • Sales Channel
  • Region

Key Companies Profiled

  • Phillips Foods Inc.
  • Blue Star Foods Corp.
  • Handy International Incorporated
  • Red Chamber Co., Ltd.
  • Trans-Ocean Products Inc.
  • Crown Prince, Inc.
  • Chicken of the Sea International
  • East Coast Seafood Group
  • Thai Union Group PCL
  • Nissui Group

Report Coverage

  • Market Forecast
  • Company Share Analysis
  • Competition Intelligence
  • DROT Analysis
  • Market Dynamics and Challenges
  • Strategic Growth Initiatives  

Customization & Pricing

Available upon request

Crab Meat Market Research Segmentation

By Product Type:

  • Lump Crab Meat
  • Claw Crab Meat
  • Backfin Crab Meat

By Form:

  • Fresh Crab Meat
  • Pasteurized/Canned Crab Meat
  • Frozen Crab Meat

By Sales Channel:

  • Foodservice (HoReCa)
  • Retails

By Region:

  • North America
  • Europe
  • East Asia
  • South Asia & Oceania
  • Latin America
  • Middle East & Africa

For report customisation and delivery information contact our sales representative.

Companies Covered in This Report

  • Phillips Foods Inc.
  • Blue Star Foods Corp.
  • Handy International Incorporated
  • Red Chamber Co., Ltd.
  • Trans-Ocean Products Inc.
  • Crown Prince, Inc.
  • Chicken of the Sea International
  • East Coast Seafood Group
  • Thai Union Group PCL
  • Nissui Group

Frequently Asked Questions

The market is anticipated to grow at a CAGR of 6.3% during the projected period.

The global crab meat market size was valued at US$1,279.2 million in 2023.

The US. held the largest market share in 2023.

Some of the prominent players in the market include Phillips Foods Inc., Blue Star Foods Corp., Handy International Incorporated, Red Chamber Co., Ltd., Trans-Ocean Products Inc., Crown Prince, Inc., Chicken of the Sea International, East Coast Seafood Group, Thai Union Group PCL, and Nissui Group.

The retail segment is expected to grow at the fastest growth during the forecast period.

This site uses cookies, including third-party cookies, that help us to provide and improve our services. Privacy Policy
Google translate