USD 63.45 billion
Molluscs Market Size, Share, Growth Analysis, By Species(Crassostrea, Ruditapes Philippinarum, Scallops and Others), By Form(Frozen and Canned), By Distribution Channel(Supermarkets/Hypermarkets, Convenience Stores, Online and Others), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG30I2316 |
Region:
Global |
Published Date: April, 2024
Pages:
198
|Tables:
88
|Figures:
76
Molluscs Market Insights
Global Molluscs Market size was valued at around USD 63.45 billion in 2022 and is expected to rise from USD 66.31 billion in 2023 to reach a value of USD 94.29 billion by 2031, at a CAGR of 4.5% during the forecast period (2024–2031).
The Global Molluscs Market is witnessing significant growth as consumer preferences for diverse and nutritious seafood options is expanding. Molluscs, consists of a wide range of shellfish such as clams, mussels, oysters, and squid, that are valued for their rich taste, high protein content, and nutritional benefits. As global seafood consumption rises, molluscs offer a sustainable and protein-rich alternative, with aquaculture playing an important role in meeting the increasing demand. Restaurants and seafood retailers are including a variety of molluscan products into their offerings, catering to the evolving tastes of consumers who seek culinary diversity and health-conscious choices.
The market is characterized by both wild-caught and farmed molluscs, forming a diverse supply chain involving technological advancements in aquaculture practices that are contributing to increased production efficiency. With a focus on sustainability and responsible sourcing, the Global Molluscs Market is poised for continued growth, aligning with the global trend towards healthier and more environmentally conscious food choices, particularly in the seafood sector.
The global food industry has high demand for molluscs in the market. The growing consumer health concern has raised demand for nutritious food products and mollusk consumption. This lowers the risk of chronic diseases, which is projected to drive market growth during the forecast period. Furthermore, rising demand and consumption for protein-rich diets rather than high-calorie food products are moving the worldwide molluscs market forward. Seafood is a low-fat and high-protein source, and it also contains elements such as vitamins, iron, and omega-3 fatty acids, which are expected to drive market expansion. Furthermore, rising demand for processed seafood is propelling market expansion throughout the projection period.
The growing aquaculture fish output in developing economies such as China, India, and Japan are a major driving factor boosting the molluscs industry. Furthermore, increase in disposable income of consumers and rising inclination towards healthy lifestyle has contributed to an increase in the consumption of protein-rich food, have been important growth factors for the industry in recent years. In the forecasting period, market expansion is likely to be driven by the rising demand for high-quality food products due to freshness, product diversity, and convenience for food safety.
The COVID-19 pandemic-related lockdown disrupted transportation and temporarily halted the supply of fish food products. Measures resulting from COVID-19 regulations have the potential to disrupt or halt aquaculture and fishery supply networks. Unsold mollusk output has resulted in increased quantities of live fish stocks in the aquaculture business. Furthermore, it has increased the expense of feeding and increased the risk of fish mortality around the world.
US Molluscs Market is poised to grow at sustainable CAGR for the next forecast year.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Supermarkets/Hypermarkets
Fastest Growth
Online
Growth Rate
4.5% CAGR
Global Molluscs Market ($ Bn)
Country Share for Asia Pacific Region (%)
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Molluscs Market Segmental Analysis
The global Molluscs Market is segmented based on species, form, distribution channel and region. Based on species the market is segmented into crassostrea, ruditapes philippinarum, scallops, and others. Based on form, the market is segmented into frozen, and canned. Based on distribution channel, the market is segmented into supermarkets/hypermarkets, convenience stores, online and others. Based on region, the global molluscs market is segmented into North America, Europe, Asia-Pacific, South America, and MEA.
Global Molluscs Market Analysis by Form
The frozen segment accounted for more than 55% of worldwide molluscs market revenue in 2022 and is predicted to grow at a CAGR of 4.2% from 2022 to 2030. The consumer's preference for a balanced, nutritious, and protein-rich diet has greatly increased demand for frozen fish products. Furthermore, the increase in demand for processed and packaged fish products globally is expected to drive market expansion during the forecast period.
The canned segment is predicted to increase at a 5.0% CAGR from 2023 to 2030. Consumers' ever-changing lives and tight work schedules necessitate processed seafood, such as canned mollusks, which are becoming increasingly popular. The expansion of this category is also being fueled by rising molluscan product consumption because of its health advantages, such as a reduced chance of developing chronic diseases.
Global Molluscs Market Analysis by Distribution Channel
In 2022, the hypermarket and supermarket channels accounted for more than 40% of the worldwide molluscs market and emerged dominant. Mollusc suppliers employ the typical retail channel to sell their products through word of mouth, advertising, and marketing. Consumers choose hypermarkets and supermarkets to buy goods, groceries, and fish food products because they can physically inspect the product quality. Because of improved distribution channel networks around the world, hypermarkets and supermarket channels are likely to stay prominent during the forecast period.
The online segment is anticipated to grow at the fastest rate during the anticipated period, with a CAGR of 5.7% from 2023 to 2030. Due to increased consumer use of the internet for shopping, the e-commerce industry has seen profitable growth in recent years. Consumers are increasingly using it to buy food and other necessities. The fact that a number of mollusk suppliers have online stores is also anticipated to boost industry demand during the foreseeable period.
Global Molluscs Market By Distribution Channel
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Molluscs Market Regional Insights
In 2022, Asia Pacific contributed the most—more than 60%—to the global molluscs market. This can be due to consumers' increased predisposition for living healthy lifestyles and rising disposable money, which will in turn feed demand for meals that are nutritious and wholesome. Due to the expanding need for fish food products that are high in protein, nations like China, India, and Japan are consuming more fish food products, which is fueling industrial expansion in this area. This has further demonstrated an increase in the manufacturing of mollusk goods, particularly in China and India, which have sizable consumer bases for food products.
Europe is the region with the fastest-growing mollusk market, with a CAGR of 5.1% predicted between 2023 and 2030. The projection period is likely to see a rise in the demand for high-quality food items due to factors such as freshness, product variety, and ease of use for food safety. The increased understanding of the health benefits that are driving the market expansion is the reason why mollusk products are being consumed more frequently in nations like Germany, Spain, and Italy.
Global Molluscs Market By Region
- Largest
- Fastest
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Molluscs Market Dynamics
Global Molluscs Market Drivers
Change in Dietary Preferences
- The global demand for molluscs is on the rise due to increasing populations and changing dietary preferences. The molluscs market has a high potential for growth due to the increasing demand for seafood in developing countries.
Global Molluscs Market Restraints
High Costs
- Mollusc farming can be expensive due to the cost of equipment, labor, and land. This can make it difficult for small-scale farmers to enter the market, limiting the overall supply of molluscs.
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Molluscs Market Competitive Landscape
The global molluscs market is highly fragmented in nature owing to the presence of numerous small and large players operating in the market. These companies operate across the entire supply chain of the molluscs market, from farming and harvesting to processing and distribution, and compete based on factors such as product quality, price, distribution channels, and customer service.
Top Player’s Company Profiles in Global Molluscs Market
- Blue Sea Food Company
- Farallon Aquaculture
- Groupe Krief Group
- International Pacific Seafoods
- Kyokuyo Co. Ltd.
- Nippon Suisan Kaisha (Nissui)
- PanaPesca USA
- Quin-Sea Fisheries
- Seacore Seafood Inc.
- Seattle Fish Company
- Southern Cross Seafood Exchange
- Sterling Seafood Corp.
- Tampa Bay Fisheries
- Thai Union Group
- Trident Seafoods Corporation
- United European Seafood Traders Ltd.
- Zeal Aqua
Global Molluscs Market Recent Developments
- In February 2024, ADAMA Ltd., a prominent global crop protection company, unveiled its plan to introduce the innovative Feralla® active ingredient into the European molluscicide market. This move aims to provide farmers with valuable innovation in pest control.
- In March 2024, Revo Foods introduced the world's inaugural vegan octopus for retail, employing its proprietary 3D-printing technology to convert fungi into a seafood alternative. This innovation aims to provide a cruelty-free substitute for traditional octopus, which is often sourced through unsustainable farming practices.
- In December 2023, Sonihull, a company based in Coventry specializing in ultrasound technology to deter algae, molluscs, and weeds from attaching to ship hulls, has introduced a new product called Agitate. This innovation is positioned to cater to a broader industrial market, offering solutions to help industrial firms maintain the smooth operation of their pipes and machinery, ultimately enhancing efficiency and productivity.
Molluscs Key Market Trends
- Increasing Demand for Sustainable and Traceable Seafood: Consumers are becoming more aware of the environmental and social impact of the food they consume, and as a result, there is growing demand for sustainable and traceable seafood products. This trend is driving the adoption of sustainable farming practices and certifications, such as the Aquaculture Stewardship Council (ASC) and the Marine Stewardship Council (MSC).
- Rising Popularity of Value-Added Products: The demand for value-added mollusc products, such as pre-cooked and ready-to-eat products, is increasing due to changing consumer lifestyles and preferences. This trend is driving the development of new products and packaging formats that are convenient and easy to prepare.
- Technological Advancements in Mollusc Farming: The adoption of new technologies, such as biotechnology and aquaponics, is increasing in the mollusc farming industry. These technologies are helping to improve the efficiency and productivity of mollusc farming while reducing its environmental impact.
- Increased Focus on Food Safety and Quality: The mollusc industry is facing increased scrutiny regarding food safety and quality. There is growing awareness about the potential health risks associated with consuming molluscs that are contaminated with bacteria and toxins. As a result, there is increasing investment in food safety and quality testing, monitoring, and regulation.
- Growing Importance of E-Commerce and Online Marketplaces: The COVID-19 pandemic has accelerated the shift towards e-commerce and online marketplaces in the seafood industry, including the mollusc market. This trend is driving the development of new digital platforms and technologies that enable producers and suppliers to reach new customers and markets more efficiently.
Molluscs Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates and Analyzes the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
According to our analysis, we found that the Molluscs market is the global food industry that is anticipating growth in the market. In addition, growing consumer health concern has raised demand for nutritious food products and mollusk consumption. This lowers the risk of chronic diseases, which is projected to drive market growth during the forecast period. Furthermore, rising demand and consumption for protein-rich diets rather than high-calorie food products are moving the worldwide molluscs market forward.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 63.45 billion |
| Market size value in 2031 | USD 94.29 billion |
| Growth Rate | 4.5% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
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| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Molluscs Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Molluscs Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Molluscs Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Molluscs Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Molluscs Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Molluscs Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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