Global Crab Market will hit 3.7 Million Metric Tonnes by 2026
North America is leading the market for consumption with the fastest-growing crab industry. Due to rising demand at food outlets, the United States is the largest importer of crabs. The awareness about crabs' nutritional benefits will lead to market growth over the forecast period. The Global Crab Market will hit 3.7 Million Metric Tonnes by the end of the year 2026, according to Renub research report.
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Asia-Pacific has the highest market share in global crab market, and China contributed to the region's largest share of the crab market with a large market share of the overall export value followed by Indonesia and the Philippines. With the environmental support in place for crab farming, the regularly increasing prices of Mitten or River crabs with gross profit per square meter, China's domestic crab production has seen a boost in the Crab market.
The key driving force behind the global crab market is rising seafood consumption per capita, rising wages and increasing urbanization to underpin seafood consumption. The U.S. is one of the leading importers of Crab worldwide; other importing countries are China, Canada, Thailand and Indonesia.
Benefits of Crab:
Crab meat contains significant protein, vitamin, and mineral content. Besides, Crab has anti-inflammatory properties to reduce blood pressure and enhance both bone health and mental health. Such as growing understanding of Crab's health benefits will encourage its consumption in the years ahead, along with the stable nature of need relevant to prices, is expected to drive the region's overall crab demand further.
Types of Crabs:
China is the world's biggest crab exporter. Crab species such as the Blue Crab, Chinese Mitten, Gazami, Indo-Pacific Swamp Crab, and Snow Crab are eaten around the world. In addition to this, the production share of Gazami will flourish in the forecast period on the global crab market. Some of the Crab producing countries are Canada, China, Indonesia, Japan, Mexico, Philippines, South Korea, Taiwan, United States, Venezuela and Vietnam.
Growing in per capita income, increasing urbanization, growth in the number of food outlets and restaurants are leading to per capita consumption of seafood, especially Crab. China is the biggest exporter of Crab in the global supply chain. Some of the exporting countries are Canada, Indonesia, United States, and the Russian Federation. On the other hand, the United States is the world’s largest crab importer; other importing countries are China, Japan, and South Korea.
Online and eCommerce channels are also providing Crab and Crabmeat to consumers, and this initiative will be a major growth factor in the global crab market. Seafood companies are involved in creating connections across supply chains ranging from fishers, processors, wholesalers to retailers, and seafood restaurant chains. Seafood companies are also focusing on internet-savvy customers by providing them attractive deals to grow their business; these actions are also helping the growth of the Crab market worldwide.
Crab Market is affected by COVID-19 pandemic:
The global supply chain has been disturbed by this deadly virus; the consumption of Crab has also declined due to lockdown imposed by government across the world. People are avoiding shopping in the open market, even in affected areas. The United States is the biggest importer of Crab, but consumers cannot buy seafood items due to restrictions imposed by authorities.
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Market Summary:
By Export: The research report covers China, Canada, Russian Federation, Indonesia, and the United States; according to Renub Research, China is the biggest exporter of Crab than other exporting countries.
By Import: United States, China, the Republic of Korea, and Japan are the leading countries for Crab import. The United States has the most significant market share in the Crab market as compared to other countries.
By Type: In this research report, covered the following species of Crab: Blue, Chinese Mitten, Gazami, Indo-Pacific Swamp & Snow Crab.
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