The global Molluscs Market, valued at USD 58.42 billion in 2021, is on a robust growth trajectory, with projections estimating it will reach USD 93.14 billion by 2030. This growth, representing a compound annual growth rate (CAGR) of 5.32% during the forecast period (2022–2030), is driven by increasing demand for protein-rich diets, expanding aquaculture practices, and rising consumer awareness of the nutritional benefits of molluscs.
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Market Scope and Research Methodology
The comprehensive analysis of the global molluscs market by Straits Research encompasses a detailed examination of market dynamics, including drivers, restraints, and opportunities. The study period spans from 2018 to 2030, with historical data from 2018 to 2020 and forecasts extending to 2030. The base year for the analysis is 2021, with the market size pegged at USD 58.42 billion. The research methodology includes both primary and secondary research, ensuring a holistic view of the market landscape. Primary research involves interviews with industry experts, while secondary research includes data from reputable sources such as industry reports, company publications, and government databases.
Market Dynamics
The global molluscs market is primarily driven by the rising demand for protein-rich diets. As consumers increasingly seek alternatives to calorie-dense foods, the popularity of high-protein diets has surged. Molluscs, being a low-fat and rich source of protein, are gaining traction as a preferred food source. Additionally, molluscs are packed with essential nutrients such as vitamins, iron, and omega-3 fatty acids, further fueling market growth. The growing preference for processed seafood is another significant driver, as it offers convenience and meets the demand for ready-to-eat food products.
Segmentation
By Species
The market is divided into Crassostrea, Ruditapes philippinarum, scallops, and others. The Crassostrea segment holds the largest market share and is expected to continue its dominance during the forecast period. This growth is attributed to the expanding production of Crassostrea products in emerging markets such as India, China, and Japan. The scallops segment is anticipated to grow at the fastest rate, driven by the increasing demand for high-quality protein sources.
By Form
The market is categorized into frozen and canned molluscs. The frozen segment contributes the most revenue and is expected to grow significantly during the forecast period. The rising consumer preference for healthy, nutrient-dense, and protein-rich diets has substantially increased the demand for frozen seafood products. Additionally, the global demand for processed and packaged fish products is expected to drive market growth.
By Distribution Channel
The market is segmented into hypermarkets and supermarkets, convenience stores, online, and others. Hypermarkets and supermarkets dominate the market, as they offer consumers the ability to physically inspect the quality of goods. The traditional retail channel remains a preferred choice for mollusc suppliers, leveraging word-of-mouth, advertising, and marketing strategies.
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Key Players
- Maruha Nichiro Corporation
- Nireus Aquaculture S.A.
- Cermaq ASA
- Eastern Fish Company
- Cooke Aquaculture Inc.
- Tassal Group Ltd.
- Blue Ridge Aquaculture
- Selonda Aquaculture S.A.
- Ulka Seafoods Pvt. Ltd.
- Avla Nettos Exports
Regional Insights
The global molluscs market is segmented into North America, Europe, Asia Pacific, Central and South America, and the Middle East and Africa.
Asia-Pacific
Asia-Pacific is the largest contributor to the global molluscs market, driven by increasing consumer interest in healthy lifestyles and rising disposable incomes. Countries like China, India, and Japan are witnessing a surge in demand for protein-rich fish food products, propelling market growth in the region.
FAQs
1. What is the projected market size of the global molluscs market by 2030?
The global molluscs market is projected to reach USD 93.14 billion by 2030.
2. What is the CAGR of the global molluscs market during the forecast period?
The market is expected to grow at a CAGR of 5.32% during the forecast period (2022–2030).
3. Which region contributes the most to the global molluscs market?
Asia-Pacific is the largest contributor to the global molluscs market.
4. What are the key drivers of the global molluscs market?
The key drivers include the rising demand for protein-rich diets, growing aquaculture practices, and increasing consumer awareness of the nutritional benefits of molluscs.
5. Who are the key players in the global molluscs market?
Key players include Maruha Nichiro Corporation, Nireus Aquaculture S.A., Cermaq ASA, Eastern Fish Company, Cooke Aquaculture Inc., Tassal Group Ltd., Blue Ridge Aquaculture, Selonda Aquaculture S.A., Ulka Seafoods Pvt. Ltd., and Avla Nettos Exports.
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