Shellfish Market Is Projected To Register A CAGR of 5% by 2032 | Fact.MR Analysis

The shellfish market is projected to register a  CAGR of 5%  , reaching a market value of  USD 106.04 billion in 2032 from  USD 65.1 billion in 2022. The growing food industry worldwide is anticipating market growth. Furthermore, growing health awareness among consumers has increased the demand for nutritious food products and the consumption of shellfish. This reduces the risk of chronic disease, which, in turn, is expected to promote market growth over the forecast period.

Also, according to Fact.MR’s analysis, consumers’ ever-changing lifestyles and busy living schedules require processed seafood products such as canned shellfish, which, in turn, are gaining popularity among consumers. Furthermore, the growing consumption of shellfish products due to numerous health benefits, such as reducing the risk of chronic diseases, is driving the growth of this segment over the forecast period.

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What is the intensity of competition in the global shellfish market?

  • In  June 2021,  Maruha Nichiro Corporation  agreed and signed an agreement to acquire shares of  Marine Access Corporation (Marine Access)  from  NIPPON ACCESS, INC (NIPPON ACCESS).  Following this acquisition, Marine Access became a member of the Maruha Nichiro group. As part of the acquisition, the companies initiated a diversified range of marine products based on a highly consistent business strategy from raw material sourcing to finished product sales with the goal of “expanding the commercial value chain of marine products in Japan and abroad”.
  • In  March 2022, Blue Harvest Fisheries  unveiled its new premium branded retail line in booth 2105 during Seafood Expo North America in Boston, Massachusetts. The new product line will include locally harvested and processed MSC Certified Atlantic Scallopes, Atlantic Saile (Sailfish), North Atlantic Ocean Perch (Acadian Redfish) and Haddock, all flash frozen to maintain freshness and available in convenient 16 oz. resealable bags.

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Main companies profiled:

  • Maruha Nichiro Corporation
  • Nireus Aquaculture SA
  • Cermag ASA
  • Eastern Fish Company
  • Cooke Aquaculture Inc.
  • Tassal Group Ltd.
  • Blue Ridge Aquaculture
  • Selonda Aquaculture SA
  • Ulka Seafoods Pvt. srl.
  • Avla Nettos Exports

Key segments covered in the shellfish market report

  • Shellfish market by species:
    • Molluscs Crassostrea
    • Ruditapes Philippine molluscs
    • Shellfish Scallops
    • Other mollusc species
  • Shellfish market by shape:
    • Frozen shellfish
    • Canned shellfish
  • Shellfish market by distribution channel:
    • Sale of Molluscs through Hypermarkets and Supermarkets
    • Shellfish sales through convenience stores
    • Sale of shellfish through online channels
    • Shellfish sales through other distribution channels
  • Shellfish market by region:
    • North America
    • Europe
    • Asia Pacific
    • Latin America
    • Middle East and Africa

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Questionnaire Answers in Shellfish Market Report Include:

  • How has the shellfish market grown?
  • What is the present and future outlook of global Molluscs by region?
  • What are the challenges and opportunities for Molluscs?
  • Why is the consumption of shellfish higher than in the region?
  • In which year is the segment expected to surpass the segment?

What sets the Fact.MR report apart from others?

  • Fact.MR follows a six-point mechanism known as  EVOLVE (Evaluate. Visualize. Overcome. Leverage. Verify. Eradicate.) . The report has been specially created to assess the impact of COVID-19 on the Shellfish market. This mechanism focuses on almost all factors in a definite way to provide the best research report for the market stakeholders.
  • Evaluate:  A Fact.MR report evaluates every little aspect that can prove to be a growth driver for the Shellfish market, thus making it different and special from other reports.
  • Visualize:  Authors involved in the research activities have visualized the post-COVID-19 era so that key market stakeholders have an overview and help them take certain steps to ensure continued growth during the forecast period.
  • Overcoming:  The report examines the points that can prove to be an Achilles heel for the Shellfish market and helps in making strategies for overcoming the obstacles that can hinder the growth of the Shellfish market.
  • Leverage:  The shellfish market can take advantage of certain aspects that can prove beneficial in increasing the growth rate. Fact.MR covers all points that key stakeholders can leverage.
  • Verification:  Research is done systematically to ensure validation of all aspects covered in the report. All points are double checked and verified thoroughly to avoid defects and false information.
  • Eradicate: Last but not the least, this aspect helps the key stakeholders to eradicate all the hurdles standing between the growth rate and the shellfish market.

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