Molluscs are one of the top products in the aquaculture industry and are grown in a controlled environment to increase their production for commercial use. The seafood industry is seeing an increase in demand for molluscs as a food source because of their nutritional benefits. Molluscs have the second-highest number of species in the animal kingdom, behind arthropods. Additionally, subterranean ecosystems sporadically coexist with terrestrial habitats and are uncommon in aquatic habitats.
Rising Demand for Protein-Rich Diets and Rising Aquaculture Drives the Global Market
The rising demand and consumption of high-protein diets as an alternative to high-calorie food products is driving the expansion of the global molluscs market. Low in fat and high in protein, seafood is used to construct muscle. The rising demand for processed seafood also contributes to the expansion of the market.
The expansion of aquaculture in developing nations such as China, Japan, and India is currently the primary factor driving the market forward. In addition, the primary market growth drivers over the past few years have been increased consumer disposable income and a growing preference for a healthy lifestyle. The rising demand for premium-quality food products owing to their freshness, variety, and convenience for food safety is anticipated to drive market expansion over the forecast period.
Asia-Pacific contributed the most to the global molluscs market. This can be attributed to increased consumer interest in a healthy lifestyle, rising disposable income, and rising demand for wholesome and nutrient-dense foods. Europe has the fastest-growing market for molluscs. The rising demand for premium-quality food products due to their freshness, variety, and convenience for food safety is anticipated to drive market expansion over the forecast period.
- The global molluscs market was valued at USD 58.42 billion in 2021. It is projected to reach USD 93.14 billion by 2030, growing at a CAGR of 5.32% during the forecast period (2022–2030).
- Based on species, the market is divided into Crassostrea, Ruditapes philippinarum, scallops, and others. The Crassostrea segment contributes the largest to the global molluscs market and is anticipated to expand during the forecast period.
- Based on the form, the market is divided into frozen and canned. The frozen segment contributes the most revenue to the global molluscs market and is anticipated to grow during the forecast period.
- Based on the distribution segment, the market is categorized into hypermarkets and supermarkets, convenience stores, online, and others. Hypermarkets and supermarkets contribute the largest share to the global molluscs market.
- Asia-Pacific contributes the most to the global molluscs market.
The key players in the global molluscs market include:
- Maruha Nichiro Corporation
- Nireus Aquaculture S.A.
- Cermaq ASA
- Eastern Fish Company
- Cooke Aquaculture Inc.
- Tassal Group Ltd.
- Blue Ridge Aquaculture
- Selonda Aquaculture S.A.
- Ulka Seafoods Pvt. Ltd.
- Avla Nettos Exports
- January 2022- Wanchese Fish Company, a Cooke Seafood USA division, is launching its newest shrimp trawler, F/V Destiny, for operations in southern Argentine waters for the 2022 season. Built by the Astilleros Armon shipyard in Spain, the Destiny will be one of the Argentine shrimp industry's newest and most modern fishing vessels.
- February 2022- Cooke Aquaculture has been recognized as one of Atlantic Canada’s Top Employers for 2022 by Mediacorp Canada Inc., a specialty publisher of employment-related periodicals in partnership with Atlantic Business magazine.
Global Molluscs Market: Segmentation
By Distribution Channel
- Hypermarkets and Supermarkets
- Convenience Store
- North America
- Central and South America
- The Middle East and Africa