Lobster Market Analysis 2020 By Industry Size, Share, Revenue Growth, Development And Demand Forecast 2020-2025 | IMARC Group
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.
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
- American Lobster
- Spiny Lobster
- Rock Lobster
- European Lobster
Market Performance by Weight
- 0.5 - 0.75 lbs
- 0.76 - 3.0 lbs
- Over 3 lbs
Market Performance by Product Type
- Whole Lobster
- Lobster Tail
- Lobster Meat
- Lobster Claw
Market Performance by Distribution Channel
- Food Service
Market Performance by Region
- North America
For more information about this report: https://www.imarcgroup.com/lobster-market
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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.