The Global Crab Meat Market share value is expected to grow at a CAGR of 4.7% during the forecast period 2023–2028 to reach USD 1158.15 million by 2028 from USD 879.2 million.
Crab meat is the type of meat that is obtained from the crab; it is also called crab marrow. It is a popular seafood meat, a popular delicacy, and a part of various cuisines around the world. Crab meat is known for its unique taste and texture. There are numerous species of crab meat available, such as blue crab, which is known for its sweet and delicate flavor. Dungeness crab, which has a sweet and buttery taste with a tender texture. Other crab meats include snow crab and king crab, which are known for their large size and rich taste. Crab meat is a versatile meat and can be incorporated into a variety of dishes such as crab cakes, crab bisque, sushi rolls, crab salads, pasta dishes, and more. It is commonly used as a topping in various seafood and appetizers. Moreover, along with its versatility, it is also a good source of protein and is relatively low in fat content. It is also a source of essential nutrients like vitamin B12, zinc, and selenium.
The increasing demand for seafood as a healthy and sustainable food choice is one of the significant reasons that is driving the crab meat market, as seafood is a good source of protein, omega-3 fatty acids, and other nutrients. Also, crab meat is considered to be a sustainable food, as they are not overfished. This led to an increasing demand for seafood as a healthy and sustainable food choice. As consumers are getting more and more aware of the essential nutrients that are required to keep the body healthy, it has caused a surge in the purchase of crab meat, as it provides protein that aids in body build and repairing tissues.
Furthermore, the food service industry is growing rapidly as the purchasing power of consumers has increased. Also, the rise in food delivery services was another factor that led to the increase in demand for the crab meat market.
Since crab meat is one of the popular ingredients in many seafood dishes, it has been increasingly being served in restaurants and other food service establishments. It is driving the demand for crab meat in the food service sector. Some popular crab dishes served in restaurants include crab cakes, crab legs, and crab bisque. These dishes are often served as appetizers or starters. Hence, the growth of the food service industry propelled the crab meat market size.
One of the significant factors that is affecting the crab meat market is the availability of imitation meat. This imitation meat is made from fish, such as pollock and surimi, which is often less expensive than crab meat and provides the same taste and texture. Moreover, it is less expensive and can be used in a variety of dishes such as crab cakes, crab salads, and sushi. Fish also constitute a good substitute for crab meat in many dishes. It is similar in flavor and texture and also provides the same protein and other nutrients. Thus, the increasing competition from the substitute is creating a major challenge for crab meat market growth and negatively affecting its market share.
Another major concern and restraining factor affecting the crab meat market size is the sanitary and phytosanitary (SPS) standards. These are the regulations designed and implemented to protect human health and animal and plant life from pests and diseases. These rules vary from country to country, making it difficult and expensive to export crab meat to certain markets. The regulations of food safety, which include testing, labeling, and traceability, also make it difficult to export crab meat to certain markets.
The rising demand for value-added crab meat products is creating an opportunity for the crab meat market. Since value-added crab meat products are convenient and easy to prepare, they appeal to consumers, especially consumers who are health-conscious and are seeking healthy food options with taste. These value-added crab meat products are often flavored with herbs, spices, and other ingredients. Therefore, it makes it more flavorful than plain crab meat. Along with this, crab meat products are available in different varieties, which makes it appealing for consumers to find products that fit their taste and dietary needs. Therefore, the rising demand and availability of value-added crab meat create an opportunity for market growth.
The COVID-19 pandemic has had a significant impact on the crab meat market due to the implementation of lockdown and social distancing; many restaurants and other food services businesses were closed down, which caused a sharp decline in demand for crab meat particularly in the case of live crabs, which are often used in sushi and other dishes.
The pandemic also caused disruptions in the supply chain for crab meat, making it difficult and expensive to import crabs from the farm or fishery to the consumers because of the implementation of travel restrictions, port closures, and labor shortages. Hence, overall, the pandemic had a significant impact on the crab meat market share.
Based on the form, the crab meat market is divided into blue crab, Chinese mitten crab, gazami crab, and others. The blue crab segment dominates the market share due to its sweet and delicate flavor. Also, it is a good source of protein and omega-3 fatty acids. Moreover, the affordability and low cost of the blue crab, compared to other crabs, make it a popular choice for consumers who are looking for an affordable and delicious seafood option. The other segments of the crab meat market, such as the Chinese mitten crab and the gazami crab, are also growing rapidly in the forecast period.
Based on the form, the crab meat market is divided into frozen, canned, and other. The frozen segment dominates the market share since frozen crab meat can be stored without losing its quality. Also, frozen crab meat is affordable as compared to others. Hence, it makes a popular choice among consumers. The canned segment is deemed to hit the largest CAGR in the coming years due to the convenience it provides and the global expansion of online retail stores.
The supermarkets/hypermarkets dominate the market shares, as they provide a wide variety of crab meat products, such as frozen, canned, and fresh. Also, most supermarkets and hypermarkets provide discount coupons and membership cards, which aids in competitive pricing and affordability. The other segments of the crab meat market, such as convenience stores, specialty stores, and online retail, are also forecasted to have significant growth.
Asia Pacific segment dominates the market share due to the increasing population. Moreover, seafood such as crab meat has a pivotal role and acts as an important ingredient in many Asian cuisines. Along with this, the growing disposable income in emerging countries like India, China, and Japan is another major factor contributing to the market share. North America is leading with the highest growth rate because of the growing awareness of the benefits of crab meat, as it provides essential nutrients and vitamins. Europe is anticipated to have significant market growth in the coming years with the increasing prominence for healthy and sustainable food choices in countries like the United Kingdom.
Key Players in the Market:
Major Key Players in the Global Crab Meat Market are
Frequently Asked Questions
Increasing awareness of the health benefits of crab meat is a major driving factor for the crab meat market.
The market is estimated to register a CAGR of 4.7% during the forecast period.
The major players are Bumble Bee Foods, LLC, Supreme Crab and Seafood, Inc., Maine Lobster Now, Millennium Ocean Star Corporation, and Phil-Union Frozen Foods, Inc.
Increasing demand for imitation meat is one of the challenging factors in the crab meat market.
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