The ‘Global Crayfish Market Size, Share, Demand, Analysis, Report and Forecast 2023-2028’ by Expert Market Research gives an extensive outlook of the crayfish market, assessing the market on the basis of its segments like type, species, category, and major regions.
Crayfish Market Size, Share, Price, Trends, Growth, Key Players, Report and Forecast
The key highlights of the report include:
Market Overview (2018-2028)
• Forecast CAGR (2023-2028): 31.5%
Crayfish is observing a growing demand from consumers all across the globe due to rising awareness about the health benefits associated with the consumption of crayfish. It contains low fats and less traces of carbohydrates which helps concerned people to lose or maintain their weight and it also contains high quality protein responsible for developing and building body tissues and muscles.
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Moreover, the presence of minerals such as magnesium and calcium support the development of muscle, teeth, and bones, reducing any possibility of developing bone-related diseases caused due to the deficiency of calcium or magnesium. Additionally, crayfish also aids in improving the circulation and production of blood which reduces the chances of developing anaemia.
There is a rising demand from restaurants, fast-food chains, and independent retailers for frozen crustaceans because they can be quickly served without involving much time in the preparation. This saves time of restaurants and consumers with hectic life schedules thus, contributing to the crayfish market growth. Restaurants are investing in quality cleaning tools to ensure the gills of the crustaceans look clean as well as transparent for serving.
Crayfish Industry Definition and Major Segments
Crayfish is a freshwater crustacean also known as a crawfish that inhabits rivers and streams and is similar to a small lobster. The nutritional profile of crawfish is relatively high as it is rich in fatty acids, minerals, vitamins, and omega 3. They can be found in various regions of the world and are commonly farmed for food purposes.
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Based on type, the market is bifurcated into:
• Farmed
• Wild
On the basis of species, the market is segmented into:
• Red Swamp
• Red Claw
• Others
Based on category, the market is classified into:
• Frozen (Precooked)
• Frozen (Raw)
• Live/Fresh
On the basis of production region, the market is divided into:
• China
• United States
• Others
Based on consumption region, the market is categorised into:
• China
• United States
• Europe
• Other Asia
• Rest of the World
Crayfish Market Trends
The key trends in the crayfish market include the technological advancements enabling efficient production of crayfish. Expansion of product offerings along with sophisticated packaging and designing are expected to further enhance the growth of the market. Key market players are engaging in mergers and acquisitions to acquire new technologies and strengthen their portfolio which will help the crayfish market to grow rapidly in the forecast period.
The availability of the crayfish seasonally has further increased the demand for the packaged and processed crayfish especially from the non-producing countries. This is to avoid the waste generated and also to reduce the effort required during its preparation. Consumers prefer the tail and abdominal meat of the crayfish and rest of its parts are typically discarded as a waste. The rising demand for processed and packaged crustaceans coupled with growing health consciousness among consumers is boosting the market expansion over the forecast period.
China and the United States are expected to account for a large share in the crayfish market owing to the growing importation and consumption of crayfish in the countries. The widespread consumption of seafood in these countries is further increasing their demand for crayfish.
Key Market Players
The major players in the global crayfish market report are Riceland Crawfish, Acadia Crawfish Co, LLC, Louisiana Crawfish Company, The Louisiana Seafood Company, Alfocan SA, and Live Aquaponics, among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
The report studies the latest updates in the market, along with their impact across the market. It also analysis the market demand, together with its price and demand indicators. The report also tracks the market on the bases of SWOT and Porter’s Five Forces Models.
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