Europe Crustaceans Market Size, Share, and COVID-19 Impact Analysis, By Type (Lobsters, Crabs, Shrimps, and Others), By End-User (Retail, Foodservice Industry, Commercial, and Others), and Europe Crustaceans Market Insights, Industry Trend, Forecasts to 2033.

Europe Crustaceans Market Insights Forecasts to 2033

• The Europe Crustaceans Market Size is Growing at a CAGR of 4.8% from 2023 to 2033
• The Europe Crustaceans Market Size is Expected to Hold a Significant Share by 2033

The Europe Crustaceans Market Size is Anticipated to Hold a Significant Share by 2033, growing at a CAGR of 4.8% from 2023 to 2033

Market Overview

The Europe crustaceans market is the industry that revolves around the manufacturing, processing, distribution, and consumption of crustaceans, which includes varieties like shrimp, prawns, crabs, and lobsters. These sea animals are consumed extensively as a source of protein and are crucial in European cuisine traditions. Crustaceans are caught in both wild fisheries and aquaculture farms and have a substantial quantity exported or imported for sale to restaurants, supermarkets, and food processing establishments. One of the key growth drivers for the Europe crustaceans market is the growth in consumer demand for seafood as perceived to have better health attributes. With increased awareness of being healthier, low-fat, high-protein foods like crustaceans have experienced rising consumption. In addition, increased popularity in international cuisine that often includes crustaceans has added to market expansion demand. Increased demand due to sustainable and responsibly sourced seafood has also driven growth, with consumers increasingly preferring products that are environmentally friendly and traceable. European government policies, such as the Common Fisheries Policy, promote sustainable fisheries management, harvesting, and overfishing. These policies also ensure food safety standards and aquaculture development, contributing to the long-term sustainability of the crustaceans market in Europe, promoting growth and environmental stewardship.

Report Coverage

This research report categorizes the market for the Europe crustaceans market based on various segments and regions and forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the Europe crustaceans market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the Europe crustaceans market.

Driving Factors

The Europe crustaceans market is experiencing growth due to rising consumer demand for healthy, protein-rich food, with crustaceans being perceived as a healthier option due to their low-fat content, high nutritional value, and essential minerals like omega-3 fatty acids. The growing demand for global cuisine, particularly Mediterranean and Asian dishes, has also influenced crustacean consumption. The market is also influenced by the shift towards sustainable and traceable seafood, leading to a growing demand for ethically produced crustaceans.

Restraining Factors

The sustainability of fisheries is threatened by overfishing of wild crustaceans, as sea ecosystems are strained by rising seafood demand. Consumers cannot afford farmed crustaceans due to high aquaculture production costs, strict food safety and sustainability regulations, and the effects of climate change on marine ecosystems. Higher production costs and higher producer prices may result from these limiting factors.

Market Segmentation

The Europe crustaceans market share is classified into type and end-user.

• The shrimp segment accounted for the largest share in 2023 and is expected to grow at a significant CAGR during the forecast period.

The Europe crustaceans market is segmented by type into lobsters, crabs, shrimps, and others. Among these, the shrimp segment accounted for the largest share in 2023 and is expected to grow at a significant CAGR during the forecast period. Shrimp are the most widely used and exported crustacean in Europe because they are flexible, slightly cheaper, and easy to prepare in many cuisines. They are largely applied in home cooking and in food services, especially in seafood, salads, and as appetizers.

• The foodservice industry segment accounted for the highest share in 2023 and is expected to grow at a significant CAGR during the forecast period.

Based on the end-user, the Europe crustaceans market is divided into retail, foodservice industry, commercial, and others. Among these, the foodservice industry segment accounted for the highest share in 2023 and is expected to grow at a significant CAGR during the forecast period. The crustacean segment, encompassing restaurants, hotels, and catering, is thriving due to the increasing use of seafood in both upscale and casual dining. The versatility of crustaceans like shrimp, lobsters, and crabs across different cuisines has also boosted their application in the foodservices sector.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the Europe crustaceans market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

List of Key Companies

• Marine Harvest (Mowi)
• Nomad Foods
• European Seafood Exports Ltd.
• Kuehne + Nagel
• Seajoy Seafood
• Royal Greenland
• Sodexo
• Others

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting And Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Recent Developments

• In April 2024, new cooked and processed products from MacNeil Shellfish were introduced at the Barcelona Seafood Expo Global. With this launch, the business expanded into the European market after investing £5 million in a facility in Bilbao, Spain. To satisfy the tastes of European consumers, MacNeil Shellfish is now able to expand its product line beyond live shellfish by adding a variety of cooked and processed goods.

Market Segment

• This study forecasts revenue at Europe, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the Europe crustaceans market based on the below-mentioned segments

Europe Crustaceans Market, By Type

• Lobsters
• Crabs
• Shrimps
• Others

Europe Crustaceans Market, By End-User

• Retail
• Foodservice Industry
• Commercial
• Others