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The rising opportunities within the developing countries along with the functional properties of the shellfishes have been a key driver.

HYDERABAD, TELANGANA, INDIA, January 10, 2023 /EINPresswire.com/ -- IndustryARC, in its latest report, predicts that The Shellfish Market size is estimated to reach $58.2 Billion by 2027. Furthermore, it is poised to grow at a CAGR of 2.1% over the forecast period of 2022-2027. Shellfish’s demand have been soaring throughout the world owing to their properties of being rich in lean protein, micronutrients, healthy fats, and minerals. Additionally, shellfish are rich in Omega-3 fatty acids, which are polyunsaturated fatty acids. The following nutrient profile aids in various health benefits. Owing to such profiles, they can readily aid the immunity, promote brain health, and weight loss aspects. Broad categories of shellfish can be demarcated into crustaceans and molluscs. Within the former segment, species such as shrimp, crayfish, crab, and lobster are covered. In the latter segment, which is molluscs, clams, oysters, and various other form of fisheries are covered. The rising opportunities within the developing countries along with the functional properties of the shellfishes along with better technological expressions and use of AI and IoT in various cold chains and supply chain metrics have allowed the Global shellfish industry to offer lucrative opportunities in the projected period of 2022-2027.

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Key takeaways:

This IndustryARC report on the Shellfish Market highlights the following areas -

1. Geographically, Asia-Pacific held a dominant market share in the year 2021. It is owing to the widespread availability of varieties within the shellfish, which are available near the coastline of countries such as India, China, Thailand, Sri Lanka, and various others. Additionally, eating seafood has been associated with various cultural norms and nutritional capabilities. However, North America is expected to offer lucrative growth opportunities over the forecast period of 2022-2027. It is owing to a rapid increase in the consumption of shellfishes within the region owing to functional properties.

2. The rising opportunities within the developing countries along with the functional properties of the shellfishes have been a key driver. Additionally, technological developments in processing, cold chain, shipping and distribution; rising incomes worldwide, which strongly correlate with increased demand for fish and fish products; reductions in loss and waste; and increased awareness of the health benefits of fish among consumers are the other coherent market driving factors. However, trade challenges and other counterfeit good sales impedes the overall market growth.

3. A detailed analysis of strengths, weaknesses, opportunities, and threats will be provided in the Shellfish Market Report.

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Segmental Analysis:

Shellfish Market Segmentation Analysis- By Type : The Shellfish Market based on type can be further segmented into Crustaceans and Molluscs. Molluscs held a dominant market share in the year 2021.

Shellfish Market Segmentation Analysis- By Distribution Channel : The Shellfish Market based on distribution channel can be further segmented into on-sales channel and offline-sales channel. On-sales channel held a dominant market share in the year 2021.

Shellfish Market Segmentation Analysis- By Geography : The Shellfish Market based on geography can be further segmented into North America, Europe, Asia-Pacific, South America, and Rest of the World. Asia-Pacific held a dominant market share of 39% in the year 2021.

Competitive Landscape:

The top 5 players in the Shellfish Industry are -

1. Wellfleet Shellfeet Company
2. East Coast Shellfish Growers Association
3. The Van Cleve Seafood Company
4. Young’s Seafood Limited
5. Maruho Nichiro Corporation

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Related Reports:

A. Seafood Market
https://www.industryarc.com/Report/16646/seafood-market.html

B. Cold Chain Market
https://www.industryarc.com/Report/15477/cold-chain-market.html

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