Global Crayfish Market 2019-2023

Global Crayfish Market 2019-2023

Global Crayfish Market: About this market

Technavio’s crayfish market analysis considers the sales from both farmed crayfish, and wild crayfish. Our analysis also considers the sales of the crayfish in North America, MEA, APAC, Europe, and South America. In 2018, the farmed crayfish segment had a significant market share, and this trend is expected to continue over the forecast period. Factors such as the increased demand for fish protein will play a significant role in the farmed crayfish segment to maintain its market position. Also, our global crayfish market report looks at factors such as the growing demand for aquaculture-based fish varieties, affordable aquaculture methods attracting more farmers into crayfish farming, and health benefits of crayfish consumption. However, lack of capital, the negative impact of climate change on crayfish cultivation, and fraudulence activities in the crayfish industry may hamper the growth of the crayfish industry over the forecast period.

Global crayfish market: Overview

Health benefits of crayfish consumption

The consumption of crayfish is significantly increasing across the world, especially in developing and underdeveloped countries where fish is consumed to overcome malnutrition challenges. Crayfish is becoming popular among health-conscious people as it is rich in many vitamins and minerals. Cooked crayfish provides nutrition components such as vitamin B, copper, protein, selenium, zinc, iron, and amino acids. Hence, the health benefits of crayfish consumption will drive the growth of the crayfish market at a CAGR of more than 14% during the forecast period.

Rising demand for processed and packaged crayfish

The demand for processed and packaged crayfish is significantly increasing due to the seasonal availability of live crayfish. Crayfish has very little flesh when compared with other aquaculture varieties, and most of the crayfish is discarded. As end-consumers find it difficult to deal with the waste that is generated while preparing the crayfish, they rely more on packaged and processed crayfish. Hence, the rising demand for processed and packaged crayfish is identified as a key crayfish market trend that will fuel the market growth.

For the detailed list of factors that will drive the global crayfish market during the forecast period 2019-2023, click here.

Competitive Landscape

With the presence of several major players, the global crayfish market is fragmented. Technavio’s robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading crayfish manufacturers, that include K/S Knold’s Seafood AB, Louisiana Crawfish Co., Macfont SA, Mackay Reef Fish Pty Ltd., and Ocean Treasure Foods Ltd.

Also, the crayfish market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage on all forthcoming growth opportunities.