Crab Market - Analysis, Size and Forecast 2024-2028
Originally published on Technavio. The Crab Market is poised to expand from an estimated value of USD 15.13 billion in 2018 to USD 23.29 billion by 2028, with a projected compound annual growth rate (CAGR) of 5.71% between 2023 and 2028.
This comprehensive report provides market size data, historical trends covering the years 2018 to 2022, and future forecasts, all presented in terms of value in USD billion for each market segment.
A surge in demand within the market is attributed to the growing recognition of the nutritional benefits of crabs. This heightened awareness not only influences consumer preferences but also shapes strategic decisions made by businesses. In response to the evolving demands of health-conscious consumers, companies are adapting their products intelligently, leading to innovations in sourcing, distribution, and marketing practices. The public's increasing awareness of nutrition is driving transformations across the entire crab industry.
A significant trend driving market growth is the increasing emphasis on clean labeling. Consumers place great importance on the country of origin when making purchasing decisions, favoring products from regions like the US and Canada due to perceptions of freshness, taste, and safety. Regulatory requirements such as Country-of-Origin Labeling (COOL) in the US contribute to consumer confidence and product sales, albeit with added costs for producers.
To Learn deeper into this report , View Sample PDF
https://www.technavio.com/talk....-to-us?report=IRTNTR
However, stringent regulations governing seafood, including crabs, pose a notable challenge to market growth. Market players must navigate complex compliance requirements imposed by authorities regarding permits, entry regulations, residual management, and product labeling. Both the US FDA and the EU have strict regulations governing the production and distribution of seafood products, which can be particularly challenging for new entrants to the market.
In terms of market segmentation, the aquaculture segment is expected to experience significant growth in response to the increasing popularity of seafood's nutritious benefits. Aquaculture products offer essential proteins, vitamins, minerals, and omega-3 fatty acids, contributing to brain development, reproduction, and disease prevention. Additionally, the foodservice segment is anticipated to witness substantial growth, driven by high demand for crab dishes in restaurants, particularly in China, where affordable crabmeat options are offered to meet consumer preferences.
Contact us for tailored solution
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com/
