Crab Meat Market

Global Crab Meat Market Size (2024 To 2032)

The global crab meat market size is expected to be worth USD 920.52 Million in 2024 and USD 1.32 billion by 2032, growing at a CAGR of 4.70% from 2024 to 2032. 

Crab meat is the type of meat that is obtained from the crab; it is also called crab marrow. It is a popular seafood meat, a popular delicacy, and a part of various cuisines around the world. Crab meat is known for its unique taste and texture. There are numerous species of crab meat available, such as blue crab, which is known for its sweet and delicate flavor. Dungeness crab, which has a sweet and buttery taste with a tender texture. Other crab meats include snow crab and king crab, which are known for their large size and rich taste. Crab meat is a versatile meat and can be incorporated into a variety of dishes such as crab cakes, crab bisque, sushi rolls, crab salads, pasta dishes, and more. It is commonly used as a topping in various seafood and appetizers. Moreover, along with its versatility, it is also a good source of protein and is relatively low in fat content. It is also a source of essential nutrients like vitamin B12, zinc, and selenium.

MARKET DRIVERS

The increasing demand for seafood as a healthy and sustainable food choice is one of the significant reasons that is driving the crab meat market, as seafood is a good source of protein, omega-3 fatty acids, and other nutrients.

Also, crab meat is considered to be a sustainable food, as they are not overfished. This led to an increasing demand for seafood as a healthy and sustainable food choice. As consumers are getting more and more aware of the essential nutrients that are required to keep the body healthy, it has caused a surge in the purchase of crab meat, as it provides protein that aids in body build and repairing tissues. Furthermore, the food service industry is growing rapidly as the purchasing power of consumers has increased. Also, the rise in food delivery services was another factor that led to the increase in demand for the crab meat market.

Since crab meat is one of the popular ingredients in many seafood dishes, it has been increasingly being served in restaurants and other food service establishments. It is driving the demand for crab meat in the food service sector. Some popular crab dishes served in restaurants include crab cakes, crab legs, and crab bisque. These dishes are often served as appetizers or starters. Hence, the growth of the food service industry propelled the crab meat market size.

MARKET RESTRAINTS

One of the significant factors that is affecting the crab meat market is the availability of imitation meat.

This imitation meat is made from fish, such as pollock and surimi, which is often less expensive than crab meat and provides the same taste and texture. Moreover, it is less expensive and can be used in a variety of dishes such as crab cakes, crab salads, and sushi. Fish also constitute a good substitute for crab meat in many dishes. It is similar in flavor and texture and also provides the same protein and other nutrients. Thus, the increasing competition from the substitute is creating a major challenge for crab meat market growth and negatively affecting its market share.

Another major concern and restraining factor affecting the crab meat market size is the sanitary and phytosanitary (SPS) standards. These are the regulations designed and implemented to protect human health and animal and plant life from pests and diseases. These rules vary from country to country, making it difficult and expensive to export crab meat to certain markets. The regulations of food safety, which include testing, labeling, and traceability, also make it difficult to export crab meat to certain markets.

MARKET OPPORTUNITIES

The rising demand for value-added crab meat products is creating an opportunity for the crab meat market.

Since value-added crab meat products are convenient and easy to prepare, they appeal to consumers, especially consumers who are health-conscious and are seeking healthy food options with taste. These value-added crab meat products are often flavored with herbs, spices, and other ingredients. Therefore, it makes it more flavorful than plain crab meat. Along with this, crab meat products are available in different varieties, which makes it appealing for consumers to find products that fit their taste and dietary needs. Therefore, the rising demand and availability of value-added crab meat create an opportunity for market growth.

REPORT COVERAGE

SEGMENTAL ANALYSIS

Global Crab Meat Market Analysis By Type

Based on the form, the crab meat market is divided into blue crab, Chinese mitten crab, gazami crab, and others. The blue crab segment dominates the market share due to its sweet and delicate flavor. Also, it is a good source of protein and omega-3 fatty acids. Moreover, the affordability and low cost of the blue crab, compared to other crabs, make it a popular choice for consumers who are looking for an affordable and delicious seafood option. The other segments of the crab meat market, such as the Chinese mitten crab and the gazami crab, are also growing rapidly in the forecast period.

Global Crab Meat Market Analysis By Form

Based on the form, the crab meat market is divided into frozen, canned, and other. The frozen segment dominates the market share since frozen crab meat can be stored without losing its quality. Also, frozen crab meat is affordable as compared to others. Hence, it makes a popular choice among consumers. The canned segment is deemed to hit the largest CAGR in the coming years due to the convenience it provides and the global expansion of online retail stores.

Global Crab Meat Market Analysis By Sales Channel

The supermarkets/hypermarkets dominate the market shares, as they provide a wide variety of crab meat products, such as frozen, canned, and fresh. Also, most supermarkets and hypermarkets provide discount coupons and membership cards, which aids in competitive pricing and affordability. The other segments of the crab meat market, such as convenience stores, specialty stores, and online retail, are also forecasted to have significant growth.

REGIONAL ANALYSIS

Asia Pacific segment dominates the market share due to the increasing population. Moreover, seafood such as crab meat has a pivotal role and acts as an important ingredient in many Asian cuisines. Along with this, the growing disposable income in emerging countries like India, China, and Japan is another major factor contributing to the market share. North America is leading with the highest growth rate because of the growing awareness of the benefits of crab meat, as it provides essential nutrients and vitamins. Europe is anticipated to have significant market growth in the coming years with the increasing prominence for healthy and sustainable food choices in countries like the United Kingdom.

KEY PLAYERS IN THE GLOBAL CRAB MEAT MARKET

Major key players in the global crab meat market are Bumble Bee Foods, LLC, Supreme Crab and Seafood, Inc., Maine Lobster Now LLC, Millennium Ocean Star Corporation, Phil-Union Frozen Foods, Inc., Phillips Foods, Inc., Blue Star Foods Corp., Handy International Incorporated, Red Chamber Co., Ltd., and Trans-Ocean Products Inc.

RECENT HAPPENINGS IN THE MARKET

• In June 2023, Blue Star Foods, a global leader in processing and supplying seafood, agreed to a $1 million supply agreement with Bloomin’ Brands, which owns Outback Steakhouse, Carrabba’s Italian Grill, Bonefish Grill and Fleming’s Prime Steakhouse & Wine Bar. According to the agreement, Blue Star Foods, delivery will include 115,000 pounds of pasteurized crab meat.
• In May 2023, Handy Seafood, a global supplier of processed seafood, announced the local soft crab campaign in Crisfield, Maryland.

DETAILED SEGMENTATION OF THE GLOBAL CRAB MEAT MARKET INCLUDED IN THIS REPORT

This research report on the global crab meat market has been segmented and sub-segmented based on type, form, sales channel, and region.

By Type

• Blue Crab
• Chinese Mitten Crab
• Gazami Crab
• Other

By Form

• Frozen
• Canned
• Other

By Sales Channel

• Supermarkets/Hypermarkets
• Convenience Stores
• Specialty Stores
• Online Retail

By Region

• North America
• Europe
• The Asia Pacific
• Latin America
• The Middle East and Africa