Crab Market - Growth, Trends, COVID-19 Impact, and Forecasts (2023 - 2028)

The Global Crab Market is segmented into Type (Blue Crab, Chinese Mitten Crab, Gazami Crab, and Others) and Form (Frozen, Canned, and Others). The market is also segmented based on Geography covering more than 16 countries across the world. The report offers market estimation and forecast in value (USD thousand) and volume (metric ton).

Crab Industry Overview

Crab Market Summary
Study Period: 2018 - 2028
CAGR: 6.4 %

Major Players

Crab Market Major Players

*Disclaimer: Major Players sorted in no particular order

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Crab Market Analysis

The global crab market is estimated to grow at a CAGR of 6.4%, during the forecast period (2022-2027). 

In 2020, the covid-19 impact had a severe effect on the seafood industry. Supply chain interruptions caused by disruptions in transportation, trade, and labor have halted both crab and seafood farming operations. Delayed stocking of aquaculture feed and systems impacted production with rising prices. Asia-Pacific accounted for the highest share in the market in 2020. Russia contributed the highest share in the market for crabs in the region while accounting for 46.1% of the total export value in 2020, followed by South Korea and China. With the ecological advantage in place for crab farming, the consistently rising prices of River or Mitten crabs along with gross profit per square meter ranging between USD 7,208.0 to USD 8,649.6, the domestic production of crabs in China has been witnessing a bolstering growth in China. North America was the fastest-growing region in the market for crabs in 2020. The United States was the largest importer of crabs in 2020, with imports valued at USD 49.6 million. The growing awareness of the nutritional benefits of crab along with the inelastic nature of demand relative to prices, are further expected to drive the overall demand for crabs in the region. The market is highly fragmented as several international players as well as regional companies are equally vying for a greater market share and stronger consumer foothold. Some of the major companies indulged in the supply and trade of frozen as well as canned crabs include Bumble Bee Foods, LLC, Supreme Crab & Seafood, Inc., Maine Lobster Now, Millennium Ocean Star Corporation, and Phil-Union Frozen Foods, Inc., among others.

Crab Industry Segments

The market for crabs is segmented into type, viz., blue crab, Chinese mitten crab, Gazami crab and other types as well as into form, viz., frozen, canned, and other forms. The market is further segmented into geography covering more than 16 countries across the world. The study period considered for the study is 2017-2027 and the forecast period is 2022-2027. The report offers market estimation and forecast in value (USD thousand) and volume (metric ton).

Type
Blue Crab
Chinese Mitten
Gazami Crab
Other Crab Types
Form
Frozen
Canned
Other Forms
Geography
North America
United States
Canada
Mexico
Rest of North America
Europe
France
Belgium
Germany
Netherlands
United Kingdom
Rest of Europe
Asia-Pacific
China
Indonesia
Philippines
Vietnam
India
Japan
Australia
Rest of Asia-Pacific
South America
Argentina
Brazil
Rest of South America
Middle East and Africa
South Africa
United Arab Emirates
Rest of Middle East and Africa

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Crab Market Trends

This section covers the major market trends shaping the Crab Market according to our research experts:

Asia-Pacific Dominates the Global Market

Asia-Pacific accounted for the highest share in the market in 2020, with China contributing the major portion of the total share, followed by South Korea and Singapore. The total export value of crabs in the Asia-Pacific region stood at USD 412.6 million in 2020 as compared to USD 270.8 million in 2017. According to surveys in the coastal provinces in China, the intensive high-yield crab production reaches a gross profit between USD 11,532.0 to USD 21,624.1 per square meter which further boosts the participation of farmers in domestic crab production. China has witnessed a rapid growth in crab farming supported by an average yield of 190 kilogram per square meter in recent years. Moreover, the rice-crab co-culture system promoted by the Chinese governement along with several non-governent agencies has also helped stimulate the production of mitten crab in the country. In 2018, a project called "Promotion of Mud Crab Hatchery and Nursery Technologies in Selected Sites", implemented by the Aquaculture Department, Southeast Asian Fisheries Development Center (SEAFDEC/AQD) and funded by the Philippine Coucil of Agriculture, aimed at increasing the hatchery-reared mud crabs in the country. As a result, the aforementioned factors are expected to drive the overall market for crabs in the region, during the forecast period.

Crab Market: Export value in USD, Crabs, Asia-Pacific, 2017 - 2020

North America in the Fastest Growing Region

North America was the fastest-growing region in the market for crabs, globally, in 2020. The United States was the major contributor to the total share of the crab market in the region. According to a report by the National Oceanic and Atmospheric Administration (NOAA), increases in seafood landings, as well as rising demand for imported crabs and other seafood from health-conscious consumers, have raised the share of seafood in the American diet in recent years. The annual fisheries report published by the NOAA revealed that per capita consumption of crabs rose from 0.62 kilograms in 2018 to 0.64 kilograms in 2019 in the United States. A recent study by the Food and Agriculture Organization stated that the male biomass has declined for all the crab species in the region with the highest decline recorded for Opilio crabs. According to a study, the changes in the demand for crabs are insignificant in accordance with prices in the United States, that is, the demand for crabs is price-inelastic, which would further help stabilize the demand for domestic and imported crabs in the country. Moreover, the Total Allowable Catch (TAC) for snow crab was raised by 38.3% during the 2019-2020 season with a view to strengthen the domestic supply and push down the prices. These factors are expected to lead to a rapid growth in the market for crabs, during the forecast period.

Crab Market: Market Growth by Region in %, Global, 2020

Crab Market Competitor Analysis

The global market for crabs is highly fragmented with the presence of international players as well as regional companies intensifying the competiton for a higher market share and an extended consumer outreach. Some of the major companies indulged in the supply and trade of frozen as well as canned crabs include Bumble Bee Foods, LLC, Supreme Crab & Seafood, Inc., Maine Lobster Now, Millennium Ocean Star Corporation, and Phil-Union Frozen Foods, Inc., among others. Expansion of product portfolios with the launch of new brands has been one of the most adopted strategies for the players to enhace the outreach of the products. For instance, in 2022, Handy Seafood lauched their new crab cakes featuring wild-caught blue swimming crab from fresh crabs

Crab Market Top Players

  1. Bumble Bee Foods, LLC

  2. Supreme Crab and Seafood, Inc.

  3. Maine Lobster Now

  4. Millennium Ocean Star Corporation

  5. Phil-Union Frozen Foods, Inc.

*Disclaimer: Major Players sorted in no particular order

Crab Market Concentration

Crab Market Recent Developments

In January 2022, Handy Seafood (North America's oldest seafood processor) partnered with Old Bay seasoning for seafood products launch, mainly focusing on Crab Cake features wild-caught blue swimming crab from fresh crabs.

In March 2020, Bumble Bee Foods announced joint distribution venture partnership with Gathered Foods Corporation, makers of Good Catch plant-based seafood production.

Crab Market Report - Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions and Market Definition

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Overview

    2. 4.2 Market Drivers

    3. 4.3 Market Restraints

    4. 4.4 Porter's Five Force Analysis

      1. 4.4.1 Threat of New Entrants

      2. 4.4.2 Bargaining Power of Buyers

      3. 4.4.3 Bargaining Power of Suppliers

      4. 4.4.4 Threat of Substitute Products

      5. 4.4.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 Type

      1. 5.1.1 Blue Crab

      2. 5.1.2 Chinese Mitten

      3. 5.1.3 Gazami Crab

      4. 5.1.4 Other Crab Types

    2. 5.2 Form

      1. 5.2.1 Frozen

      2. 5.2.2 Canned

      3. 5.2.3 Other Forms

    3. 5.3 Geography

      1. 5.3.1 North America

        1. 5.3.1.1 United States

        2. 5.3.1.2 Canada

        3. 5.3.1.3 Mexico

        4. 5.3.1.4 Rest of North America

      2. 5.3.2 Europe

        1. 5.3.2.1 France

        2. 5.3.2.2 Belgium

        3. 5.3.2.3 Germany

        4. 5.3.2.4 Netherlands

        5. 5.3.2.5 United Kingdom

        6. 5.3.2.6 Rest of Europe

      3. 5.3.3 Asia-Pacific

        1. 5.3.3.1 China

        2. 5.3.3.2 Indonesia

        3. 5.3.3.3 Philippines

        4. 5.3.3.4 Vietnam

        5. 5.3.3.5 India

        6. 5.3.3.6 Japan

        7. 5.3.3.7 Australia

        8. 5.3.3.8 Rest of Asia-Pacific

      4. 5.3.4 South America

        1. 5.3.4.1 Argentina

        2. 5.3.4.2 Brazil

        3. 5.3.4.3 Rest of South America

      5. 5.3.5 Middle East and Africa

        1. 5.3.5.1 South Africa

        2. 5.3.5.2 United Arab Emirates

        3. 5.3.5.3 Rest of Middle East and Africa

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Most Adopted Strategies

    2. 6.2 Market Share Analysis

    3. 6.3 Company Profiles

      1. 6.3.1 Bumble Bee Foods, LLC

      2. 6.3.2 Supreme Crab & Seafood, Inc.

      3. 6.3.3 Maine Lobster Now

      4. 6.3.4 Millennium Ocean Star Corporation

      5. 6.3.5 Phil-Union Frozen Foods, Inc.

      6. 6.3.6 JM Clayton Seafood Company

      7. 6.3.7 RGE Agridev Corporation

      8. 6.3.8 Siam Canadian Group Limited

      9. 6.3.9 Handy Seafood

  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

  8. 8. AN ASSESSMENT OF THE COVID-19 IMPACT ON THE MARKET

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Crab Market Research FAQs

The Crab Market is studied from 2018 - 2028.

The Crab Market is growing at a CAGR of 6.4% over the next 5 years.

Bumble Bee Foods, LLC, Supreme Crab and Seafood, Inc., Maine Lobster Now, Millennium Ocean Star Corporation, Phil-Union Frozen Foods, Inc. are the major companies operating in Crab Market.

Crab Industry Reports

In-depth industry statistics and market share insights of the Crab sector for 2020, 2021, and 2022. The Crab research report provides a comprehensive outlook of the market size and an industry growth forecast for 2023 to 2028. Available to download is a free sample file of the Crab report PDF.

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