August 20, 2020
According to the research report titled ‘U.S. Crustacean Market Size By Product, By Culture Area, Industry Analysis Report, Regional Outlook, Growth Potential, Price Trend, Competitive Market Share & Forecast, 2020 - 2026‘, available with Market Study Report, the U.S. crustacean market is estimated to witness significant growth during 2020-2026.
Increasing awareness regarding the presence of vital nutrients in seafood and its high consumption are impelling the U.S. crustacean market growth. Notably, prawns, shrimps, lobsters, crabs belong to a group of invertebrates called as crustaceans. Traditional relevance and integrality of seafood in the U.S. culture will continue to augment crustacean market outlook in the coming years.
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In terms of product terrain, the U.S. crustacean market is classified into prawns, lobster, crawfish, crabs, shrimps, and others. The report cites that prawns segment accounts for 11.2% of overall crustacean demand in the United States and is likely to record growth rate of 4% over the forecast period. Being a rich and affordable source of selenium, prawns are effective antioxidants that help maintain healthy cells. They have high levels of Zinc, which helps to develop a healthy immune system, hence driving its demand in the U.S.
Meanwhile, the U.S. crustacean market share from crawfish segment is estimated to exhibit a 4% CAGR over 2020-2026. Busy lifestyle of urban population encourages fast-food chains, restaurants, and independent retailers to use frozen crustaceans for quick consumption. Crawfish is low in fats and and has minimal carbohydrates. It is high in vitamin B and minerals like zinc, magnesium, iron, phosphorous, and calcium.
The others segment is slated to witness a 2% growth rate during the forecast period. It includes woodlice, krill, and barnacles. Krill is prevalently used as aquaculture feed and fish bait. The other uses include pet and livestock feed, while only a small portion is prepared for human consumption.
Key players operating in U.S. crustacean market are RDM Aquaculture LLC, Seaview Crab Company, Pacific Seafood, Louisiana Crawfish Company, Riceland Crawfish Inc., Ready Seafood Co., Cajun Crawfish Company, Eastern Fish Co., Crawfish Town U.S.A. Inc., Sogelco International Inc., Tangier Lobster Company Limited, East Coast Seafood Group (ECSG), Bayou Bounty Crawfish, The Fresh Lobster Company LLC, Boston Lobster Company, Go Crawfish, Acadia Crawfish Co., United Seafood Company, and Santa Monica Seafood Company.