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Lobster Market Report 2020: Industry Analysis, Price Trends, Demand, Growth and Forecast till 2025 – IMARC Group

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Lobster Market Report 2020: Industry Analysis, Price Trends, Demand, Growth and Forecast till 2025 – IMARC Group

October 08
17:38 2020
Lobster Market Report 2020: Industry Analysis, Price Trends, Demand, Growth and Forecast till 2025 - IMARC Group

Global Lobster Market Growth Catalyzed by Thriving Hospitality Industry – IMARC Group
The global lobster market is currently being driven by an increasing number of health-conscious consumers and thriving hospitality industry.

The global lobster market reached a value of USD 5.23 Billion in 2019. Looking forward, the market is expected to continue its moderate growth during the next five years., according to a new report by IMARC Group.

Lobster is a type of marine crustaceans with a long cylindrical body, muscular tail, stalked eyes, and five pairs of jointed legs. It is usually greenish-brown in color, covered with a chitinous exoskeleton that turns bright red when cooked. Lobster is a rich source of copper, phosphorous, zinc, omega-3 fatty acids, magnesium, and vitamin E and B12. The consumption of lobsters helps in mitigating the risk of thyroid, repairing damaged tissues, reducing inflammation, boosting energy, and improving cognition.

Market Trends:

The increasing consumer health consciousness has led to the rising shift from high-calorie food products towards a protein-rich diet, thereby driving the demand for lobsters. Moreover, the growing consumer inclination towards seafood products and the easy availability of canned, frozen, and vacuum-packed variants are also augmenting the market growth. Apart from this, the increasing penetration of cross-continental food trends, along with the rising consumption of lobsters in exotic cuisines, is further driving the global market. Additionally, the expanding hospitality sector has led to a growing demand for lobsters across hotels and restaurants, thereby catalyzing the market growth.

Note: As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.

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Global Lobster Market Segmentation:

Market Performance by Species

  1. American Lobster
  2. Spiny Lobster
  3. Rock Lobster
  4. European Lobster

Market Performance by Weight

  1. 0.5 – 0.75 lbs
  2. 0.76 – 3.0 lbs
  3. Over 3 lbs

Market Performance by Product Type

  1. Whole Lobster
  2. Lobster Tail
  3. Lobster Meat
  4. Lobster Claw

Market Performance by Distribution Channel

  1. Food Service
  2. Retail

Market Performance by Region

  1. North America
  2. Europe
  3. Asia
  4. Oceania
  5. Others

For more information about this report:

About Us

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

Also read: North America Frozen Seafood Market Booming with leading Players Leroy Seafood (OTCMKTS: LYSFF), High Liner Foods (OTCMKTS: HLNFF), Marine Harvest (OTCMKTS: MHGVY), Iglo Group, Austevoll Seafood (FRA: Z85), and Fishery Products International.

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