IMARC Group, a leading market research company, has recently released a report titled “Lobster Market Report by Species (American Lobster, Spiny Lobster, Rock Lobster, European Lobster), Weight (0.5 - 0.75 lbs, 0.76 - 3.0 lbs, Over 3 lbs), Product Type (Whole Lobster, Lobster Tail, Lobster Meat, Lobster Claw), Distribution Channel (Food Service, Retail), and Region 2024-2032”. The study provides a detailed analysis of the industry, including the global lobster market trends, share, size, and industry trends forecast. The report also includes competitor and regional analysis and highlights the latest advancements in the market.

The global lobster market size reached US$ 7.6 Billion in 2024. Looking forward, IMARC Group expects the market to reach US$ 16.0 Billion by 2033, exhibiting a growth rate (CAGR) of 8.3% during 2025-2033.

Global Lobster Market Trends:

The increasing popularity of value-added lobster products as consumers prefer to ready-to-eat or easy-to-prepare options such as lobster rolls, bisques, and pre-packaged lobster meat is acting as a growth-inducing factor.

Additionally, the burgeoning interest in sustainable and locally sourced seafood, leading to a greater emphasis on traceability and certification programs that highlight the origin and environmental impact of lobster products, is anticipated to drive the market growth. Besides this, rapid advancements in biotechnology that explore the potential for lobster-derived nutraceuticals and pharmaceuticals, tapping into the health and wellness sectors, are enhancing the market growth.

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Factors Affecting the Growth of the Lobster Industry:

·         Rising Demand for Lobster:

The escalating demand for lobster across the globe is one of the major factors boosting the market growth. 

Moreover, the rising disposable incomes and a growing appetite for Western cuisine, positioning lobster as a status symbol and a sought-after delicacy, is acting as a growth-inducing factor. 

Additionally, the burgeoning expansion of international trade agreements and improved logistics that facilitate the easier and faster export of live lobsters to distant markets is creating a positive outlook for the market. Apart from this, the increasing marketing efforts by the seafood industry, as it emphasizes the nutritional benefits and versatility of lobster, are bolstering the market growth.

·         Increasing Focus on Sustainable Fishing Practices and Aquaculture Expansion:

The rising focus on sustainable fishing practices and the expansion of lobster aquaculture are crucial factors propelling the market growth. 

Moreover, the imposition of stringent regulations and sustainable practices, such as catch limits, protected areas, and improved tracking systems to ensure the long-term viability of lobster populations, is anticipated to drive the market growth. Concurrently, rapid advancements in aquaculture technology that make lobster farming more feasible and cost-effective are positively influencing the market growth. Besides this, the rising investments in research and development (R&D) that yield innovative solutions for breeding, rearing, and harvesting lobsters sustainably are fostering the market growth.

·         Rapid Technological Advancements in Supply Chain and Processing:

The rising technological advancements in the supply chain and processing that enhance efficiency and profitability are catalyzing the market growth. In line with this, rapid innovations in cold chain logistics, including advanced refrigeration and real-time monitoring systems, for maintaining the quality and freshness of live lobsters during transportation are enhancing the market growth. These technologies minimize spoilage and extend the shelf life, enabling suppliers to reach distant markets without compromising product integrity. Additionally, rapid improvements in processing techniques, such as automated shelling and packaging systems, that streamline operations and reduce labor costs are acting as a growth-inducing factor.

Lobster Market Report Segmentation:

By Species:

·         American Lobster

·         Spiny Lobster

·         Rock Lobster

·         European Lobster

American lobster represented the largest segment due to its widespread popularity and high demand in domestic and international markets.

By Weight:

·         0.5 - 0.75 lbs

·         0.76 - 3.0 lbs

·         Over 3 lbs

0.5 - 0.75 lbs accounted for the largest market share as this size range is most preferred by consumers and restaurants for its ideal balance of flavor and portion size.

By Product Type:

·         Whole Lobster

·         Lobster Tail

·         Lobster Meat

·         Lobster Claw

Whole lobster represented the largest segment as it offers a premium dining experience and is commonly used in high-end culinary presentations.

By Distribution Channel:

·         Food Service

·         Retail

Food service constituted the largest segment due to the significant demand from restaurants, hotels, and catering services that frequently feature lobster on their menus.

Regional Insights:

·         North America

·         Europe

·         Asia

·         Oceania

·         Others

North America's dominance in the lobster market is attributed to its well-established lobster fishing industry and strong consumer demand for lobster products.

Competitive Landscape with Key Players:

The competitive landscape of the lobster market size has been studied in the report with the detailed profiles of the key players operating in the market.

Some of These Key Players Include:

·         Boston Lobster

·         Clearwater Seafoods

·         East Coast Seafood Group

·         Geraldton Fishermen’s Co-operative

·         High Liner Foods Incorporated

·         PESCANOVA ESPAÑA SL

·         Supreme Lobster

·         Tangier Lobster

·         Thai Union Manufacturing Company Ltd. 

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Key Highlights of the Report:

·         Market Performance (2018-2023)

·         Market Outlook (2024-2032)

·         Market Trends

·         Market Drivers and Success Factors

·         Impact of COVID-19

·         Value Chain Analysis

If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

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IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

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