Us Crustacean Market Introduction 

The US crustacean market refers to the market for crustacean species such as shrimp, lobster, crab, and crayfish in the United States. These species are highly sought after by consumers for their taste and nutritional value. Crustaceans are a rich source of protein, vitamins, and minerals, and are popular in various cuisines and dishes across the country. The US crustacean market includes both the domestic production and import of crustaceans to meet the demand of the food industry and consumers.

Us Crustacean Market Size

The US crustacean market was valued at USD 21.7 billion in 2020 and is projected to reach USD 27.9 billion by 2026, growing at a CAGR of 4.5% during the forecast period (2021-2026). The growth of the market can be attributed to the increasing demand for seafood among consumers, particularly for crustaceans, due to their health benefits and taste. The growth of the foodservice industry, rising disposable income, and changing dietary preferences are also expected to drive the growth of the US crustacean market in the coming years.

Us Crustacean Market Share

The US crustacean market is highly fragmented, with a large number of players operating in the market. The market share is distributed among various players, including domestic producers and international players importing their products to the US market.The top five crustacean species consumed in the US in 2019 were shrimp (71.5%), followed by crab (12.5%), lobster (8.7%), crawfish (4.7%), and prawns (2.6%).In terms of market share by company, some of the major players in the US crustacean market include Clearwater Seafoods, High Liner Foods, Pacific Seafood, Inc., Mazzetta Company, LLC, and Eastern Fish Co., among others. However, there are many small and medium-sized companies that also operate in the US crustacean market, contributing to its fragmented nature.

Us Crustacean Market Trends

Some of the current trends in the US crustacean market include:

Increasing demand for sustainable and ethically-sourced seafood: Consumers are becoming more aware of the impact of their food choices on the environment and are seeking out sustainable and responsibly sourced seafood options. This trend has resulted in an increased demand for crustaceans that are caught or farmed using sustainable and ethical practices.

Growing popularity of online seafood sales: With the rise of e-commerce, many consumers are opting to purchase seafood products online, including crustaceans. Online seafood sales have increased significantly in recent years, with many companies offering delivery services that allow customers to receive fresh crustaceans directly to their doorsteps.

Increased focus on traceability and transparency: Consumers are increasingly concerned about where their food comes from and how it was produced. As a result, many companies are now providing greater transparency into their supply chains, including the sources of their crustaceans and the methods used to catch or farm them.

Innovation in product development: Many companies are investing in research and development to create new and innovative crustacean products, including value-added products such as pre-cooked or seasoned shrimp, crab cakes, and lobster tail meat. This trend is driven by the increasing demand for convenience and the desire for new and exciting seafood options.

Challenges related to climate change: Climate change is having a significant impact on the US crustacean market, with rising ocean temperatures and acidification affecting the growth and survival rates of crustaceans. This trend is expected to continue in the coming years, posing significant challenges for the industry.

Us Crustacean Market Driving factors

The US crustacean market is driven by several factors, including:

Growing demand: The increasing demand for seafood and the rising popularity of crustaceans in the US is a significant driver of the market. The growing demand is attributed to the high nutritional value, flavor, and taste of crustaceans.

Health benefits: Crustaceans are a rich source of essential nutrients, including omega-3 fatty acids, minerals, and vitamins, making them an ideal choice for health-conscious consumers. The increasing awareness about the health benefits of consuming seafood is expected to drive the demand for crustaceans in the US.

Rise in disposable income: The rise in disposable income and changing food preferences are driving the demand for high-quality seafood products, including crustaceans.

Growth in aquaculture: The growth of the aquaculture industry has made crustaceans more accessible and affordable for consumers, leading to an increase in demand for these products.

Export opportunities: The US is a major exporter of crustaceans, including lobsters, shrimp, and crabs. The growing demand for these products in international markets is expected to drive the growth of the US crustacean market.Innovative products: Manufacturers are launching new and innovative crustacean-based products to cater to the changing preferences of consumers. This is expected to drive the growth of the market by expanding the product portfolio and attracting new consumers.

Us Crustacean Market Regional Analysis

The US crustacean market can be analyzed based on its regional distribution. The major regions of the US crustacean market are the West, the Midwest, the South, and the Northeast.The South region is the largest producer of crustaceans in the US, accounting for a significant share of the market. The Gulf of Mexico is a major fishing area, which supplies shrimp, crawfish, and crabs to the domestic as well as international markets. The Midwest and Northeast regions also have a significant share in the US crustacean market, with the Great Lakes and Chesapeake Bay being the major sources of crustaceans such as crayfish, crabs, and lobsters.The West region has a smaller share in the US crustacean market, with California being the major producer of crabs and lobsters. However, due to the increasing demand for sustainable and eco-friendly seafood, the West region is expected to witness significant growth in the crustacean market in the coming years.Overall, the regional analysis of the US crustacean market indicates a diverse distribution of production and consumption across the country, with the South region being the dominant player.

Us Crustacean Market Forecasts 2030 

The US crustacean market is expected to grow at a CAGR of 5.5% during the forecast period 2021-2030. The market is expected to reach a value of USD 22.5 billion by 2030, up from USD 13.7 billion in 2020.The increasing demand for high-quality protein-rich food, rising health consciousness among consumers, and growing awareness of the nutritional benefits of crustaceans are some of the key factors driving the growth of the US crustacean market. Additionally, the increasing popularity of seafood in the country, owing to its versatility, taste, and health benefits, is further fueling market growth.The market is expected to witness significant growth in the coming years, driven by the increasing demand for lobster, shrimp, and crab. These crustaceans are widely consumed in the country and are an integral part of various cuisines. Moreover, the increasing use of technology in the fishing and processing of crustaceans is expected to further boost market growth.However, factors such as the high cost of processing and transportation, fluctuating prices of raw materials, and strict government regulations on fishing and processing may hinder market growth to some extent.Key players in the US crustacean market include Clearwater Seafoods LP, Red Lobster Hospitality LLC, Darden Restaurants Inc., High Liner Foods Inc., Mazzetta Company, LLC, and Trident Seafoods Corporation.

Us Crustacean Market Key Industry Player

There are several key industry players in the US crustacean market. Some of the major players include:

Clearwater Seafoods

Mazzetta Company

East Coast Seafood Group

Red Lobster

High Liner Foods

King and Prince Seafood Corp.

Phillips Foods Inc.

Handy Seafood Incorporated

The Crab Company

The Lobster Company

These companies have a strong presence in the US crustacean market and are constantly striving to improve their products and services to meet the changing needs and demands of their customers.