NEW
YORK, Aug. 6, 2024 /PRNewswire/ -- The global
crayfish market size is estimated to grow by USD 2.26 billion from 2024-2028, according to
Technavio. The market is estimated to grow at a CAGR of
6.15% during the forecast period. Growing demand
for aquaculture-based fish varieties is driving market
growth, with a trend towards demand for processed and
packaged crayfish. However, lack of marketing and capital in
crayfish market poses a challenge. Key market players include
Acadia Crawfish Co. LLC, Alfocan SA, American Seafoods Group LLC,
Bocage Crawfish, Cajun Crawfish Co., Day Boat Seafood LLC, Domstein
AS, Fruge Seafood Co., Happy Crab Seafood, Harlons LA Fish, Kenney
Seafood, Live Aquaponics, Louisiana Crawfish Co., Louisiana Seafood
Co., Mackay Reef Fish Pty Ltd., Mah Protein Inc., Riceland
Crawfish, Seven star ocean fisheries, and Siam Canadian Group
Ltd..
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Forecast
period
|
2024-2028
|
Base Year
|
2023
|
Historic
Data
|
2018 - 2022
|
Segment
Covered
|
Distribution Channel
(Offline and Online), Type (Farmed crayfish and Wild crayfish), and
Geography (North America, Europe, APAC, South America, and Middle
East and Africa)
|
Region
Covered
|
North America, Europe,
APAC, South America, and Middle East and Africa
|
Key companies
profiled
|
Acadia Crawfish Co.
LLC, Alfocan SA, American Seafoods Group LLC, Bocage Crawfish,
Cajun Crawfish Co., Day Boat Seafood LLC, Domstein AS, Fruge
Seafood Co., Happy Crab Seafood, Harlons LA Fish, Kenney Seafood,
Live Aquaponics, Louisiana Crawfish Co., Louisiana Seafood Co.,
Mackay Reef Fish Pty Ltd., Mah Protein Inc., Riceland Crawfish,
Seven star ocean fisheries, and Siam Canadian Group Ltd.
|
Key Market Trends Fueling Growth
The processed seafood market, specifically canned and frozen
crayfish, is experiencing growth due to the increasing preference
for ready-to-cook, protein-rich, and convenient food options.
Consumers in both developed and developing countries are demanding
these products, which help save time and energy for activities
outside of meal preparation. Seasonal availability of live crayfish
and the resulting waste have led to the processing industry
utilizing discarded byproducts in other industries. Various
processed crayfish varieties, such as boiled, cooked, chilled,
frozen, seasoned, and ready-to-cook canned, are now available from
vendors like Kenney Seafood, Louisiana Crawfish Co., and Cajun
Crawfish. Innovations in the industry include purging crayfish on
the farm and selling them in tanks for consumer selection. These
options are offered in single or party packs, in both flexible and
rigid packaging, making processed and packaged crayfish a popular
choice among global consumers. This trend is expected to continue
fueling the growth of the global crayfish market.
Crayfish, also known as freshwater crustaceans, are making waves
in the food industry. With their unique flavors and nutritious
benefits, crawfish are becoming a popular choice for consumers.
Available in various colors like green, dark brown, and sandy,
these crustaceans can be found in freshwater streams, ponds, lakes,
swamps, and marshes. As urban lifestyle trends and seafood
consumption increase, crawfish are gaining popularity among
youngsters. For those who prefer plant-based diets, the veganism
trend hasn't left crawfish behind, as they can be used as bait
instead of food. Crayfish are rich in proteins, vitamins, minerals,
and healthy fats, making them a nutritious addition to any diet.
The demand for fresh crawfish is high, with restaurants and
fastfood chains using them in their menus. Independent retailers
also see the potential in selling fresh and frozen crustaceans.
Crayfish farming is on the rise in regions like the Midwest, with
farmers and sellers seeing an opportunity in the competitive
environment. Popular species include Red Swamp Crayfish, Virile
crayfish, Ringed crayfish, and Rusty crayfish. Exports are also
increasing, making crawfish a global delicacy. Aquaculture is
playing a significant role in meeting the demand for this tasty and
nutritious crustacean.
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Market Challenges
- The global crayfish market is fragmented with a significant
number of mid-to-small-sized vendors operating in various countries
like China, the US, and
Australia. These vendors primarily
form cooperative groups in their localities, limiting their
marketing and promotional activities for locally produced crayfish.
This results in low consumer awareness and hinders the supply of
these varieties beyond local fish markets. Furthermore, these
vendors face production volume constraints due to limited capital,
making it challenging for them to expand their businesses and meet
increasing market demand. These factors may hinder the growth of
the global crayfish market during the forecast period.
- Crayfish market faces challenges in meeting consumer demand due
to increasing seafood consumption, particularly among youngsters.
Urban lifestyles lead to higher demand for convenient, tastier
options from restaurants and fastfood chains. Independent
retailers compete with these players, offering fresh or frozen
crustaceans. Awareness of healthier food choices and veganism
impacts sales. Exports present opportunities, especially for
Midwest crayfish farmers. Aquaculture is a prevailing opportunity
for sustainable farming of Red Swamp Crayfish, Virile crayfish,
Ringed crayfish, and Rusty crayfish. Emerging trends include the
use of crayfish as bait and the competitive environment across
various geographies and regions. The potential for growth is
significant, offering an opportunity for crayfish sellers to
innovate and differentiate.
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challenges - Download a Sample Report
Segment Overview
This crayfish market report extensively covers market
segmentation by
- Distribution Channel
- Type
- 2.1 Farmed crayfish
- 2.2 Wild crayfish
- Geography
- 3.1 North America
- 3.2 Europe
- 3.3 APAC
- 3.4 South America
- 3.5 Middle East and
Africa
1.1 Offline- The Crayfish Market is a leading
seafood supplier, offering fresh and high-quality crayfish to
businesses and restaurants. Our dedicated team sources and delivers
top-tier crayfish, ensuring customer satisfaction. We prioritize
sustainability and transparency in our operations, providing
traceability and adhering to industry regulations. Partner with US
for reliable and consistent crayfish supply.
For more information on market segmentation with geographical
analysis including forecast (2024-2028) and historic data (2018 -
2022) - Download a Sample Report
Research Analysis
Crayfish, also known as freshwater crustaceans, come in various
colors including green, dark brown, and sandy hues. These
crustaceans inhabit freshwater streams, ponds, lakes, swamps, and
marshes. Crayfish are popular as pets and for stocking freshwater
aquariums. They are rich in proteins, vitamins, and minerals,
making them a nutritious addition to any diet. With the rise of
veganism, crayfish are gaining attention as a sustainable
alternative to traditional animal protein sources. The Midwest
region of the United States holds
great potential for crayfish farming, with many crayfish farmers
and sellers capitalizing on this opportunity. The Red Swamp
Crayfish, Virile crayfish, Ringed crayfish, and Rusty crayfish are
among the most commonly farmed species. Crayfish are not only used
as food but also as bait for fishing. Exports and aquaculture play
a significant role in the crayfish industry, making it a thriving
business.
Market Research Overview
Crayfish, also known as freshwater crustaceans, come in various
colors including green, dark brown, and sandy, and are found in
freshwater streams, ponds, lakes, swamps, and marshes. These tasty
crustaceans are popular as pets for hobbyists and as a source of
protein-rich food for consumers. Their meat is high in vitamins,
minerals, and healthy fats, making them a staple in seafood
consumption. Youngsters and urban consumers are driving the
popularity of crayfish, with awareness of their health benefits and
versatility in various cuisines increasing. The competitive
environment includes restaurants, fastfood chains, independent
retailers, and even frozen crustaceans. Crayfish farming and
aquaculture have emerged as significant opportunities, particularly
in regions like the Midwest, where the potential for growth is
high. Farmers and sellers are capitalizing on the demand for
tastier varieties like Red Swamp Crayfish, Virile crayfish, Ringed
crayfish, and Rusty crayfish. Emerging trends include the
increasing popularity of veganism and exports, with consumers
seeking sustainable and ethically sourced crayfish. The competitive
landscape is diverse, with various geographies and regions offering
unique opportunities for growth. Prevailing opportunities include
expanding markets, innovative farming techniques, and meeting the
evolving demands of consumers.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
- Distribution Channel
-
- Type
-
- Farmed Crayfish
- Wild Crayfish
- Geography
-
- North America
- Europe
- APAC
- South America
- Middle East And Africa
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory
company. Their research and analysis focuses on emerging market
trends and provides actionable insights to help businesses identify
market opportunities and develop effective strategies to optimize
their market positions.
With over 500 specialized analysts, Technavio's report library
consists of more than 17,000 reports and counting, covering 800
technologies, spanning across 50 countries. Their client base
consists of enterprises of all sizes, including more than 100
Fortune 500 companies. This growing client base relies on
Technavio's comprehensive coverage, extensive research, and
actionable market insights to identify opportunities in existing
and potential markets and assess their competitive positions within
changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
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SOURCE Technavio