Shellfish Market Size, Share, Growth Analysis, By Product Type(Crustaceans, Molluscs.), By Distribution Channel(Online Sales, Offline Sales), By Region - Industry Forecast 2024-2031

Shellfish Market Driver

• The market has grown as a result of the shellfish's general health benefits. In addition to other nutrients, shellfish are very high in lean protein, healthy fats, and a range of minerals. Additionally, studies have demonstrated that regularly consuming shellfish can boost immunity, promote weight loss, and improve health. Shellfish are rich sources of zinc, magnesium, and vitamin B12. Additionally, shellfish is a fantastic food to include in your diet to prevent obesity because it is low in calories and high in protein. The CDC estimates that in 2018, the prevalence of obesity was close to 42.4%. Additionally, India's obesity prevalence by 2020 was close to 40.3%. Omega-3 fatty acids, which are also prevalent in shellfish, help people feel full for a longer period of time. Finally, eating different shellfish has a significant impact on one's heart health. Due to its high omega-3 fatty acid content, a study found that among 18,244 Chinese males, those who consumed more than 200 grams of shellfish had a 59% lower risk of dying from a heart attack.
• The combination of technological advancements and rising demand has been a major market driver. The processing power has made it possible for the market as a whole to develop significantly. Additionally, supply networks that include cold storage have advanced, enabling improved demand fulfillment and closing the supply-demand gap. Additionally, governments in nations like India have increased their spending on cold chain warehouses, logistics, and other important areas. Additionally, a wide range of applications for AI exists in the seafood business, where it has completely taken over the market. Aqua Byte, for instance, enables measuring salmon development rates and the number of sea lice present. Additionally, Xpert Sea counts shrimp using picture recognition technology and can even forecast their growth rates. Last but not least, Aquaconnect and Aquaponics use AI to improve shrimp farm management and productivity.

Shellfish Market Restraint

• Shellfishes have a reputation for being one of the top food allergies, which hinders market expansion as a whole. A huge portion of the world's demand for shellfish is in Asia-Pacific. However, the area also has severe shellfish allergies. Tropomyosin is the protein that is in charge of triggering acute anaphylaxis. The aforementioned chemical triggers the body's immune system, which then releases histamines into the blood, causing mild to severe allergies. According to a study, 3% of the adult population has a shellfish allergy, which is 2% more common than a fish allergy. Furthermore, in Hong Kong, Singapore, and the Philippines, adults, and adolescents with shellfish allergies ranged in prevalence from 5.12 percent to 7.71%. The meal that caused allergies in most of the people (3.8%) was a crustacean, followed by fin fish (1.2%) and mollusks (1.0%) in a study population of more than 8600 participants such reasons are hindering the market growth.