Crab Meat Industry Growth at 4.7% CAGR, Market Size to Reach $1.5 Billion by 2033

The global crab meat market is worth US$ 879.2 as of now and expected to reach US$ 1.52 Billion by 2033 at a CAGR of 4.7% between 2023 and 2033.

Versatility in culinary applications is one of the major factors driving crab meat market. Plus, intake of crab meat assures that intake of fats is lower as compared to its counterparts. Specialty and premium crab meat varieties are keeping the cash registers ringing for crab meat market and the scenario is expected to remain unchanged even in the forecast period.

The ready-to-use crab meat products are adding more value to crab meat market as they save on downtime. It has been observed that value-added products do have longer shelf lives; thereby doling out abysmal wastage and bolstering health benefits.

The trending global dishes are also incorporating crab meat to drive more customers. Lump crab meat is witnessing a higher demand as its succulent, white pieces render its desirable for home cooks as well as professionals.

Frozen crab meat is creating ripples as it could be stored for long; that too, while maintaining the freshness. Frozen crab meat could reach even the areas where fresh crabs are unavailable. Quick-freezing methods do aid in preservation of natural flavors, nutrients, and textures of crabs while keeping cells almost intact through formation of ice crystals.

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“Growing awareness about the fact that crab meat is a rich source of protein apart from being a low-fat source, the global crab meat market is likely to grow irresistibly in the forecast period”, says an analyst from Future Market Insights.

Key Takeaways from Crab Meat Market

North America holds the largest market share with the US witnessing a growing focus on diet being health-conscious. It is also leading in growing interest in crab meat (a lean protein option) owing to nutritional benefits like low-fat content. It has been reported that crab meat has a discrete, sweet flavor; thereby rendering it a broadly desired ingredient in diverse cuisines. The dishes including crab meat are Maryland-style crab cakes, regional specialties like Louisiana-style combo. It’s a known fact that American cuisine is ethnic. Addition of crab meat is, indeed, a cherry to the icing.
Europe holds the second-largest market share with the UK leading from the front. This could be credited to an ever-increasing demand for crab meat all across the region. Also, coastal regions like Norway, Sweden, Denmark, and likewise are known for incorporation of fresh crabs into local cuisine. Eurogroup for Animals states that consumption of fish and seafood is ~24.35 Kg. Besides, tourists do prefer coastal destinations all across Southern Europe when it’s summer herein.

Competitive Crab Meat

Handy Seafood, in May 2023, did announce the year’s local soft crab campaign at Crisfield (Maryland).
Shiok Meats, in September 2021, made an entry into the very first lab-grown crab flesh at Kebaya during tasting session.
The other players in crab meat market include Philips Foods Inc., Blue Star Foods Corp., Handy International Inc., Red Chamber Co., Ltd., Trans-Ocean Products Inc., Crown Prince, Inc., Chicken of the Sea International, East Coast Seafood Group, Thai Union Group PCL, Nissui Group, and likewise. They are engaged in various modes of expansion like mergers, acquisitions, new product launch, partnerships, joint ventures, and likewise to strengthen their foothold in crab meat market.

What does the Report say?

The research study is based on product type (lump crab meat, claw crab meat, and backfin crab meat), form (fresh crab meat, pasteurized/canned crab meat, and frozen crab meat), and sales channel (foodservice (HoReCa), and retail (supermarkets, hypermarkets, convenience stores, specialty seafood stores, and online retailers)).
With consumption of seafood on the rise, the global crab meat market is bound to grow irrevocably in the forecast period.

Crab Meat Market Outlook by Category

By Product Type: