NEWARK, Del, July 07, 2022 (GLOBE NEWSWIRE) -- The molluscs market is expected to see a substantial CAGR of 4.5%, and is projected to increase from 60.72 billion in 2021 to 98.54 billion by 2032.
The growth of the global mollusc market is being driven by consumers' preference for protein-rich diets over high-calorie foods. Due to the rising adoption of molluscs and the reduced risk of chronic illnesses, the molluscs market is anticipated to grow over the course of the projected period.
Since polyculture involves the presence of organisms from various trophic levels, such as fish and molluscs, which belong to a lower trophic level, it is becoming more and more popular among the leading participants and gives molluscs market key players more lucrative opportunities.
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Due to the increased demand for high-quality food products due to their enhanced freshness, variety, and usability for food safety, the molluscs market is predicted to develop at a faster rate throughout the projected period.
The purchasing power of consumers has declined along with their disposable income, which is bad for market earnings. One of the main challenges the mollusc market is dealing with is the high cost of mollusc production.
The Asia Pacific molluscs market is growing significantly due to consumers' greater propensity for leading healthy lifestyles and rising disposable income. Since more people are becoming aware of the health benefits of molluscs products, the market for them is growing in countries like Germany, Spain, and Italy.
Key Takeaways from Market Study
- The molluscs market is expected to have a CAGR of 4.5% during the forecast period.
- The market is segmented based on species, wherein the crassostrea segment accounted for a significant global molluscs market share of 30% in 2021.
- The market is segmented based on distribution channel, wherein the supermarket and hypermarket channel accounted for a significant global molluscs market share of 40% in 2021.
- The European molluscs market is anticipated to grow at the fastest rate, with a CAGR of 5.1% during the forecast period.
- The molluscs market is predicted to grow at a profitable rate of more than 60% in Asia Pacific.
- Based on form, the frozen category is expected to have a CAGR of 4.2% in the molluscs market during the forecast period.
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Competitive Landscape
As a result of increased expenditures by new molluscs market participants, R&D, product innovation, effective resource allocation, and technical developments, the mollusc market is anticipated to rise in size over the forecast period. The molluscs market is fragmented as a result of the large number of well-established market rivals and mollusk suppliers present globally.
Maruha Nichiro Corporation, Nireus Aquaculture S.A., Cermaq ASA, Eastern Fish Company, Cooke Aquaculture Inc., Tassal Group Ltd., Blue Ridge Aquaculture, Selonda Aquaculture S.A., Ulka Seafoods Pvt. Ltd., and Avla Nettos Exports.
Recent Developments:
- The new premium branded retail line from Blue Harvest Fisheries was on display at exhibit 2105 at the Seafood Expo North America in Boston, Massachusetts, in March 2022. Locally caught and processed MSC-certified Atlantic sea scallops and Atlantic pollock will be part of the new product line.
- The San Diego-based business, which uses cell cultures to generate seafood, expanded on its commercialization plan and also published the layouts of its envisioned large-scale food production facilities, impacting the molluscs market.
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Key Segments
By Species:
- Crassostrea
- Ruditapes Philippinarum
- Scallops
By Form:
- Frozen
- Canned
By Distribution Channel:
- Hypermarkets and Supermarkets
- Convenience Store
- Online
- Others
By Region:
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
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Table of Content
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
3.1.1. Drivers
3.1.2. Restraints
3.1.3. Opportunity
3.1.4. Trends
3.2. Scenario Forecast
3.2.1. Demand in Optimistic Scenario
3.2.2. Demand in Likely Scenario
3.2.3. Demand in Conservative Scenario
3.3. Opportunity Map Analysis
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