Molluscs Market Share, Size, Trends, Industry Analysis Report, By Species (Crassostrea Molluscs, Ruditapes Philippinarum Molluscs, Scallop Molluscs, Others); By Form; By Distribution Channel; By Region; Segment Forecast, 2023-2032
- Published Date:Apr-2023
- Pages: 118
- Format: PDF
- Report ID: PM3181
- Base Year: 2022
- Historical Data: 2019-2021
Report Outlook
The molluscs market was valued at USD 63.20 billion in 2022 and is expected to grow at a CAGR of 4.6% during the forecast period. The rising need for protein-rich diets, consumer awareness, and a potential alternative to high-calorie foods are the few primary drivers responsible for the market growth. Mollusc's diet is a low-fat and abundant protein source utilized to develop muscles. Molluscs also include nutrients like vitamins, iron, and omega-3 fatty acids, which are essential in the development of human beings. These diets are most popular among fitness-savvy people and are mostly recommended by dieticians.
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Molluscs are a crucial component of the aquaculture industry. They are grown in a controlled environment to boost output for commercial use. Molluscs are regarded as food items in the seafood sector because of their nutritional advantage. They are an excellent source of minerals, good fats, and proteins. Due to the rising popularity of molluscs, the market is projected to grow significantly in the coming years.
The COVID-19 pandemic lockdown caused transportation to be disrupted and temporarily halted the supply of fish food products. Measures resulting from COVID-19 regulations could disturb or stop the supply chains for aquaculture and fishing. Unsold mollusc production has increased live fish stocks in the aquaculture industry. Additionally, it has increased fish mortality risks and feeding expenses globally.
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Industry Dynamics
Growth Drivers
Molluscs are abundant in vital nutrients and secondary metabolites that are active, and they also can improve immunological response. In addition, regular cooking methods have no discernible negative impact on the nutritional value of the food, and the food retains certain bioactivities even after being digested by enzymes. Though, molluscs have health benefits. Thus, the growing health consciousness among consumers has increased the demand for molluscs, driving molluscs market growth.
Report Segmentation
The market is primarily segmented based on species, form, distribution channel, and region.
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By Species |
By Form |
By Distribution Channel |
By Region |
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Crassostrea Molluscs segment is garnered largest revenue share over forecasted period
The crassostrea segment is projected to witness the largest revenue over the forecasting period. The rising production in emerging nations like India, China, and Japan is driving the expansion of this market. The market is expected to develop over the forecast period as a result of the rising consumer awareness of the importance of health. Scallops are anticipated to grow at the fastest CAGR over the forecasting period. Scallops are an important source of human protein, and demand for such protein-rich diets has escalated its demand. Moreover, the segment’s growth is also driven by the rise in per capita seafood consumption & an aging population.
Frozen molluscs accounted for the largest market share in 2022
The frozen molluscs segment accounted for the largest market share venue in 2022. The demand for frozen fish products has greatly increased due to customer preferences for a balanced, nutrient-rich diet high in protein. Additionally, the forecast period for the market shows development due to the increased demand for processed and packaged fish products globally. For instance, some of the makers are increasing frozen product production. The need for frozen mollusks is also rising due to their excellent nutritional content, usefulness as a food source, and simple protein to digest.
Leading producers of frozen molluscs are concentrating on growing their product lines and developing production sites worldwide. The ongoing increase in demand for fast food is anticipated to open for profitable growth potential over the forecasting years. Moreover, the need for frozen food will increase because of developments in cold chain technology, particularly in industrialized nations like the U.S., digitalization, and the development of the e-commerce retail sector. During the forecasting period, the market for canned molluscs is anticipated to develop at the highest CAGR. Consumers' hectic schedules and ever-changing lifestyles are responsible for the segment’s growth. Moreover, canned products can be easily transported from one place to another nationwide.
Hypermarkets and Supermarkets sector is expected to hold the significant revenue share
The market for molluscs worldwide accounted for a significant revenue share from the supermarket & hypermarket channels in 2022. Urban consumers usually shop at hypermarkets & supermarkets to have a personal feel before purchasing. Moreover, the quality of the items, consumables, and fish food can be physically examined. Suppliers employ traditional retail channels to market, advertise, & sell their products.
Online sales of molluscs are predicted to expand at the fastest growth rate over the study period. The e-commerce sector has grown profitable over the past few years due to consumers' increasing Internet usage for purchasing. Customers are using it more frequently to purchase groceries and other basics. Several molluscs providers with online shops are also projected to boost market demand in forecast period.
Asia Pacific is expected to grow at significant CAGR during forecast period
In 2022, Asia Pacific is accounted to grow at a significant CAGR over the anticipated period. The major market share of Asia-Pacific is attributed to the region's growing urbanization, health consciousness, and disposable incomes, as well as to the rise in fish-serving fasts food restaurants, increased awareness of the value of diets high in protein, an increase in the number of refrigerated warehouses, advancements in refrigeration technology for transport and storage, and a persistent shift in consumer behavior toward purchasing frozen seafood through organized retail channels.
The molluscs sector is anticipated to grow most quickly in Europe. The increased demand for premium quality food products due to freshness, product diversity, and food safety convenience is likely to drive market expansion throughout the forecast period. The increased understanding of the health benefits driving the market expansion is why molluscs products are being consumed more frequently in nations like Germany, Spain, and Italy.
Competitive Insight
Key players in the molluscs market include Avla Nettos Exports., Blue Ridge Aquaculture, Cermaq ASA Eastern Fish Company, Cooke Aquaculture, Nireus Aquaculture., Selonda Aquaculture, Tassal Group, Ulka Seafoods, and Maruha Nichiro.
Recent Developments
- In January 2022, Wanchese Fish Company introduced the shrimp trawler “F/V Destiny” for its operations in Argentine waters. The Destiny, constructed by the Spanish shipyard Astilleros Armon, will be among the newest & most advanced fishing vessels used in the country’s shrimp sector.
Molluscs Market Report Scope
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Report Attributes |
Details |
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Market size value in 2023 |
USD 65.98 billion |
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Revenue forecast in 2032 |
USD 99.32 billion |
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CAGR |
4.6% from 2023 - 2032 |
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Base year |
2022 |
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Historical data |
2019 - 2021 |
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Forecast period |
2023 - 2032 |
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Quantitative units |
Revenue in USD billion and CAGR from 2023 to 2032 |
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Segments covered |
By Species, By Form, By Distribution channel, By Region |
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Regional scope |
North America, Europe, Asia Pacific, Latin America; Middle East & Africa |
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Key companies |
Avla Nettos Exports., Blue Ridge Aquaculture, Cermaq ASA Eastern Fish Company, Cooke Aquaculture Inc., Maruha Nichiro Corporation, Nireus Aquaculture S.A., Selonda Aquaculture S.A., Tassal Group Ltd., Ulka Seafoods Pvt. Ltd. |
FAQ's
key companies in molluscs market are Avla Nettos Exports., Blue Ridge Aquaculture, Cermaq ASA Eastern Fish Company, Cooke Aquaculture, Nireus Aquaculture., Selonda Aquaculture, Tassal Group, Ulka Seafoods
The molluscs market expected to grow at a CAGR of 4.6% during the forecast period.
The molluscs market report covering key segments are species, form, distribution channel, and region.
Key driving factors in molluscs market are rising demand for protein-rich diets and growing health consciousness.
The molluscs market size is expected to reach USD 99.32 billion by 2032.
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