Crab Market Drivers Emerging From Sustainable Fishing Practices

The global crab market size was estimated at USD 3.34 billion in 2023 and is projected to reach USD 4.21 billion by 2030, growing at a CAGR of 3.4% from 2024 to 2030. Crab is considered a premium seafood product, with its tender meat and delicate flavor making it a popular choice in luxury dining.

The growing middle-class population in emerging markets and increased disposable income in developed countries have led to a surge in demand for premium seafood options like crab. In regions such as North America, Europe, and parts of Asia Pacific, crab is often seen as a delicacy, featured in high-end restaurants and gourmet cuisine.

Consumers are becoming more willing to pay for high-quality seafood as they perceive it to be healthier and more nutritious than red meat or poultry. This preference has contributed to the growing popularity of crab dishes such as crab cakes, crab legs, and soft-shell crab. Moreover, processed crab meat has gained popularity, particularly in the ready-to-eat and convenience food segments. The shift toward convenience and ready-made meals has accelerated the demand for processed crab meat products, such as canned crab, frozen crab meat, and crab sticks, which appeal to busy consumers seeking quick, easy, and nutritious meal options.

Key Market Trends & Insights

• Asia Pacific accounted for a revenue share of 43.5% in 2023.
• By type, the frozen crabs segment held a revenue share of 46.7% in 2023.
• By application, the crab meat segment accounted for a revenue share of 59.8% in 2023.
• By distribution channel, retail channels held a market share of 58.0% in 2023.

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Market Size & Forecast

• 2023 Market Size: USD 3.34 Billion
• 2030 Projected Market Size: USD 4.21 Billion
• CAGR (2024–2030): 3.4%
• Asia Pacific: Largest market in 2023

Competitive Landscape

Market key players are constantly working towards new product launches, partnerships, M&A activities, and other strategic alliances to gain new market avenues.

Key Players Include:

• The J.M. Clayton Company
• Phillips Foods, Inc.
• Blue Star Foods Corp.
• Nippon Suisan Kaisha (Nissui)
• High Liner Foods Inc.
• Trans-Ocean Products
• Graham & Rollins, Inc.
• Handy Seafood Incorporated
• King Crab Legs Company
• Harbor Seafood

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Conclusion

The crab market is steadily growing, fueled by consumer demand for premium, healthy, and convenient seafood options. With innovation in product formats and expansion in key regions such as Asia Pacific, the market is poised for continued growth in both value and variety.