IMARC Group, a leading market research company, has recently releases report titled “United States 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 United States lobster market size, share, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
How Big is the United States Lobster Market?
The United States lobster market size reached US$ 3.6 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 6.3 Billion by 2032, exhibiting a growth rate (CAGR) of 6.2% during 2024-2032.
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Factors Affecting the Growth of the United States Lobster Industry:
Increasing Demand for Seafood:
The increasing demand for seafood, fueled by a shift in consumer preferences towards healthier, more nutritious dietary options, is propelling the market growth. Seafood, particularly lobster, is recognized for its high protein content, low fat levels, and rich supply of fatty acids, which are linked to various health benefits, including heart health and cognitive function. Moreover, the perception of lobster as a luxury food item, making it a choice for special occasions and fine dining experiences, is strengthening the market growth. Besides this, the escalating health consciousness among consumers, combined with their willingness to pay a premium for quality and taste, leading to increased consumption rates, is favoring the market growth.
Export Potential:
Lobsters from the United States enjoy high demand from various countries due to their excellent quality and status. Additionally, this appeal in foreign markets reflects the global dynamics of seafood consumption, where premium products are increasingly sought after. In line with this, the advancements in shipping and handling logistics, ensuring live lobsters arrive in optimal condition, further enhancing their value and appeal overseas, are catalyzing the market growth. Besides this, the implementation of international trade agreements and tariffs, which ensure high product standards and optimum quality, is strengthening the market growth. Moreover, the adoption of sustainable fishing practices to maintain supply and meet rising export demand is positively impacting the market growth.
Sustainable Fishing Practices:
The ongoing commitment to environmental stewardship and the preservation of lobster populations across the United States, which has fostered consumer confidence and demand, is supporting the market growth. In line with this, the adoption of sustainability initiatives, including regulated fishing seasons, size limits, and protection of breeding females, which ensure the long-term viability and health of lobster stocks, is contributing to the market growth. These practices are increasingly recognized by consumers who prioritize sustainability in their purchasing decisions. Moreover, the introduction of certifications and labels indicating sustainable sourcing, as they align with the growing environmental awareness and ethical consumption trends, is bolstering the market growth.
United States Lobster Market Report Segmentation:
Breakup by Species:
American Lobster
Spiny Lobster
Rock Lobster
European Lobster
American lobster holds the majority market share due to its high demand for its superior taste and texture, making it a preferred choice among consumers.
Breakup by Weight:
5 – 0.75 lbs
76 – 3.0 lbs
Over 3 lbs
0.76-3.0 lbs represented the largest market share as lobsters within this weight range are ideal for single servings, balancing affordability with the premium dining experience consumers seek.
Breakup by Product Type:
Whole Lobster
Lobster Tail
Lobster Meat
Lobster Claw
Whole lobster accounted for most of the market share because of the strong consumer preference for the traditional presentation and the complete culinary experience it offers, including both taste and visual appeal.
By Distribution Channel:
Food Service
Retail
Food service holds the largest market share due to the high demand in restaurants and hotels, where diners often choose lobster for special occasions, driving higher consumption through these establishments.
Breakup by Region:
Northeast
Midwest
South
West
Region-wise the market has been categorized into Northeast, Midwest, South, and West.
United States Lobster Market Trends:
Recent advances, such as vacuum sealing and improved refrigeration techniques, which have extended the shelf life of lobster products, making it easier to transport lobsters over long distances without sacrificing quality, is positively impacting the market growth.
Additionally, the increasing number of lobster-based products, catering to a wider range of consumer choices and occasions, is bolstering the market growth. Besides this, the adoption of effective marketing and branding strategies by producers, highlighting the quality, taste, and luxury status of lobsters, as well as their sustainability credentials, is driving the market growth.
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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
• Comprehensive mapping of the competitive landscape
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 Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
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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