| Study Period | 2019 - 2030 |
| Base Year For Estimation | 2024 |
| Market Size (2025) | USD 18.28 Billion |
| Market Size (2030) | USD 24.51 Billion |
| CAGR (2025 - 2030) | 5.00 % |
| Fastest Growing Market | North America |
| Largest Market | Asia-Pacific |
Crustaceans Market Analysis
The Crustaceans Market size is estimated at USD 18.28 billion in 2025, and is expected to reach USD 24.51 billion by 2030, at a CAGR of 5% during the forecast period (2025-2030).
Crustaceans are regarded as high-value seafood products due to their delicate flavor, nutritional value, and demand in domestic and international markets. As consumers shift towards healthier diets, seafood like crustaceans, which are high in protein and low in fat, becomes increasingly attractive. This is particularly true in health-conscious markets such as Europe and North America. In the US, shrimp consumption has risen in recent years, partly due to its perceived health benefits over other meats. Shrimp is high in omega-3 fatty acids and low in calories, making it a preferred choice among fitness-conscious individuals. A study conducted by the National Fisheries Institute with data from 2022 showed an increase in per capita shrimp consumption by almost one pound from the previous year at 2.67 kg.
As global food preferences evolve, crustaceans, especially shrimp and crab, have found their way into a wide range of cuisines, from Asian to Western. The global fascination with seafood-based dishes, such as sushi, paella, and crab cakes, has expanded the market for crustaceans. The rise of Asian cuisine, particularly in Western countries, has driven the import of Crustaceans like shrimp in dishes like shrimp tempura, pho, or shrimp curry. This trend is significant in markets like the US and Europe. For instance, United States shrimp imports rose marginally year over year in 2023, 70,587 metric tons (MT), and 70,967 metric tons (MT) in 2024, according to NOAA (National Oceanic and Atmospheric Administration).
Crustaceans Market Trends
Increasing Import of Crustaceans
Across the globe, particularly in developed economies such as the United States, the European Union, and Japan, there is a noticeable increase in seafood consumption. Consumers are becoming more health-conscious and looking for protein-rich, low-fat alternatives to meat. Crustaceans, such as shrimp, crab, and lobster, are considered a premium seafood choice due to their high nutritional value, delicate flavors, and versatility in cuisines. The US is one of the largest importers of crustaceans like shrimp, crab, lobster, and others. For instance, according to ITC Trade Map, the United States import of crustaceans was 733,091 metric tons in 2023 from 709,719 metric tons in 2020.
The EU’s demand for crustaceans is also on the rise, particularly for species like shrimp and lobsters, driven by the growing popularity of seafood in countries such as Spain, Italy, and France. The EU imports a significant amount of crustaceans from Latin American and Asian markets. The growing import of crustaceans meets this surging consumer demand, ensuring a steady supply of seafood across various markets, which in turn drives the market further. As demand increases, both the volume and value of crustacean imports rise, fueling global trade.
Besides, free trade agreements between key seafood-producing nations and importing countries have played a crucial role in increasing the import of crustaceans. These agreements often reduce tariffs and import duties, making crustacean products more affordable and competitive in international markets. Ecuador, one of the world’s largest shrimp producers, has benefitted from the tariff reductions under trade agreements with the US, resulting in increased shrimp exports to the US market.
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Asia-Pacific is witnessing the swiftest growth
Asia-Pacific has been growing at the fastest rate for the last few years. For instance, as per FAOSTAT, Black tiger shrimp had a 10 percent share in Asia's farmed shrimp production, reaching over 500,000 metric tons in 2023. China produced 180,000–200,000 metric tons, followed by Vietnam (153,000 metric tons), India and Indonesia (50,000 metric tons), and Bangladesh (70,000 metric tons). Further, the adoption of Pacific white shrimp as a prominent species by India's growing aquaculture industry, especially in the contract farming sector, is one of the main factors, which helps the Indian market to expand during the forecast period. The demand for crustaceans across the globe is the highest as the availability of fresh and frozen crustaceans is contributing to the growth of the crustaceans market.
Asian-Pacific consumers are increasingly turning to crustaceans, both for home cooking and dining out, drawn by their affordability and nutritional benefits. Historically, markets like Singapore and Australia, seen as untapped, leaned heavily on exports, with only a fraction of the total crustacean production being consumed domestically. Yet, in recent years, these domestic markets have begun to thrive. What was once a demand concentrated in major cities is now extending its reach to tier-II and tier-III cities, signaling a sustained rise in domestic consumption in the coming years.
Asia Pacific countries, particularly China, Vietnam, India, Thailand, and Indonesia, have become global leaders in crustacean aquaculture. Technological advancements in shrimp farming and aquaculture systems have significantly increased the supply of farmed crustaceans. Innovations such as biofloc technology, recirculating aquaculture systems (RAS), and genetic improvements in shrimp are driving higher yields, better feed conversion ratios, and more sustainable practices.
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Crustaceans Market News
- July 2024: India's finance minister unveiled measures to bolster the nation's seafood export competitiveness. The minister proposed slashing the Basic Customs Duty (BCD) on select items, including broodstock, polychaete worms, shrimp, and fish feed, down to 5%. Additionally, to further invigorate seafood exports, several inputs essential for producing shrimp and fish feed have been granted exemptions from Customs Duty.
- March 2023: NaturalShrimp, Inc, a Biotechnology Aquaculture Company that has developed and patented the first shrimp-focused, commercially operational RAS (Recirculating Aquaculture System), has, through its wholly-owned subsidiary, NaturalShrimp USA Corporation, entered into a year-long agreement with Homegrown Shrimp USA, Inc. for the purchase of post-larvae shrimp for stocking in the Company’s Webster City, Iowa and La Coste, Texas facilities.
Crustaceans Industry Segmentation
Crustaceans are diverse arthropod taxons that include familiar species such as crayfish, shrimps, crabs, lobster, prawns, krill, woodlice, and barnacles. Crustaceans find a wide range of application in cosmetic, pharmaceuticals and food industry. The Crustaceans Market is Segmented by Type (Crabs, Lobster, Shrimp, Others) and Geography (North America, Europe, Asia-Pacific, South America, and Africa). The Market includes Production Analysis (Volume), Consumption Analysis (Value and Volume), Export Analysis (Value and Volume), Import Analysis (Value and Volume), and Price Trend Analysis across the globe. The report offers the market size and forecasts in terms of volume in (metric tons) and value in (USD) for all the above segments.
| Type | Crabs | ||
| Shrimps | |||
| Lobsters | |||
| Others | |||
| Geography (Production Analysis, Consumption Analysis by Volume and Value, Import Analysis by Volume and Value, Export Analysis by Volume and Value, and Price Trend analysis) | North America | United States | |
| Canada | |||
| Europe | Germany | ||
| United Kingdom | |||
| France | |||
| Russia | |||
| Spain | |||
| Sweden | |||
| Italy | |||
| Asia-Pacific | China | ||
| Philippines | |||
| India | |||
| Bangladesh | |||
| Sri Lanka | |||
| South America | Brazil | ||
| Argentina | |||
| Chile | |||
| Peru | |||
| Middle East and Africa | United Arab Emirates | ||
| Saudi Arabia | |||
| Nigeria | |||
| Egypt | |||
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Crustaceans Market Research Faqs
How big is the Crustaceans Market?
The Crustaceans Market size is expected to reach USD 18.28 billion in 2025 and grow at a CAGR of 5% to reach USD 24.51 billion by 2030.
What is the current Crustaceans Market size?
In 2025, the Crustaceans Market size is expected to reach USD 18.28 billion.
Which is the fastest growing region in Crustaceans Market?
North America is estimated to grow at the highest CAGR over the forecast period (2025-2030).
Which region has the biggest share in Crustaceans Market?
In 2025, the Asia-Pacific accounts for the largest market share in Crustaceans Market.
What years does this Crustaceans Market cover, and what was the market size in 2024?
In 2024, the Crustaceans Market size was estimated at USD 17.37 billion. The report covers the Crustaceans Market historical market size for years: 2019, 2020, 2021, 2022, 2023 and 2024. The report also forecasts the Crustaceans Market size for years: 2025, 2026, 2027, 2028, 2029 and 2030.
