Frequently Asked Questions
The global lobster market was valued at USD 6.8 Billion in 2022.
The lobster market is expected to grow at a CAGR of 9.60% between 2023 and 2030, reaching USD 12.9 Billion in 2030.
the Whole Lobster sector is expected to account for the largest market share.
Retail segment also contribute to the demand for lobsters market
the Spiny Lobster segment will likely exhibit the fastest CAGR during the forecast period.
In 2022, North America will account for more than 48% of the market.
The top players include World Link Food Distributors Inc., Cap Morrill’s Inc., Bayleya Lobster Pound, , and Philbrick Lobster Company. Other major players include East Coast Seafood, Clearwater Seafoods, A S Francis Lobster, and Island Seafood.
The key market drivers are increased use of lobster in a variety of cuisines, as well as lobster’s popularity in premium restaurants and food service establishments, as well as innovation and sustainability.
The key market restrictions include climate change, as well as economic and political factors.
The key potential in the lobster sector include environmentally friendly aquaculture and seafood, which are growing increasingly popular in health and wellness diets.