Molluscs Market

According to Stratistics MRC, the Global Molluscs Market is accounted for $73.35 billion in 2024 and is expected to reach $107.02 billion by 2030 growing at a CAGR of 6.5% during the forecast period. Molluscs are a broad category of invertebrate animals that are members of the Mollusca phylum. They include squids, octopuses, snails, and clams. Many of these soft-bodied animals have a hard, protective calcium carbonate shell, and they are distinguished by a muscular foot that is frequently adapted for movement. Molluscs inhabit a diverse range of habitats, ranging from deep ocean floors to terrestrial settings, they serve as both prey and predator in crucial ecological roles and are vital to human economies, especially in aquaculture and fisheries.

According to the Food and Agriculture Organization (FAO), global mollusc aquaculture production reached over 17 million metric tons in 2020, representing a significant portion of the world’s total seafood supply, particularly in Asia, which accounts for more than 90% of mollusc farming.

Market Dynamics: 

Driver: 

Rising interest in protein-rich foods

The global trend toward diets high in protein is one of the main factors propelling the mollusk market. Foods high in protein are becoming more and more popular among consumers because they are good for building and repairing muscle and are necessary for general health. Compared to red meats, mollusks like clams and mussels are lower in calories and a great source of lean protein. Additionally, those who are interested in maintaining a healthy lifestyle, athletes, and fitness enthusiasts are especially drawn to this trend.

Restraint:

Elevated production expenses

The high production costs involved in cultivating and harvesting mollusks are one of the biggest barriers facing the mollusc industry. Over time, the expenses associated with aquaculture—which comprise labor, feed, and upkeep of farming infrastructure—have increased. Producers' profitability has dropped as a result of the increase in production costs, which may lead to lower output. Due to population growth and dietary changes toward foods high in protein, there is a growing demand for mollusks; however, the supply may not keep up, which could result in shortages and higher prices for consumers.

Opportunity:

Growing need for convenience goods

The convenience-driven shift in consumer lifestyles is opening up a lot of opportunities for the mollusc market. There is an increasing need for ready-to-eat and simple-to-prepare food options as people get busier. This trend creates opportunities for producers and processors to create value-added goods like packaged, marinated, or precooked mollusks. Furthermore, these products offer quick and wholesome meal options that fit well into contemporary diets, appealing to both time-constrained consumers and the food service sector.

Threat:

Supply chain weaknesses

The market for mollusks is susceptible to different interruptions in the supply chain. Disease outbreaks, trade disputes, and transportation problems can all have a big influence on the supply of mollusks. These products need effective cold chain logistics to maintain quality during transportation because they are highly perishable. Production and distribution companies may suffer financial losses and spoilage as a result of disruptions. Moreover, the COVID-19 pandemic demonstrated the rapidity with which supply chains could be disrupted, leading to unsold inventory and higher production costs as a result of labor shortages and logistical difficulties.

Covid-19 Impact: 

Due to changes in consumer behaviour, supply chain disruptions, and effects on the food service sector, the COVID-19 pandemic had a major effect on the mollusc market. The demand for mollusks decreased significantly during lockdowns, especially in premium segments where restaurants and hotels were forced to close. In contrast, as consumers moved toward home cooking and stockpiling, the retail industry saw a spike in demand for packaged and frozen mollusc products. In response to these changes in the market, businesses invested in direct-to-consumer sales channels and e-commerce platforms. Additionally, the pandemic also increased public apprehension about the safety of seafood, which complicated recovery efforts even more as demand only gradually increased after the lockdown.

The Oysters segment is expected to be the largest during the forecast period

The market for mollusks is dominated by the oyster segment. Rich in zinc, vitamin B12, and protein, oysters are highly valued for their distinct flavor and texture as well as their nutritious profile. The food service sector, especially in upscale and luxury dining settings where oysters are served as delicacies in fine dining establishments and on cruise ships, is a major driver of demand for this segment. Additionally, oysters are versatile ingredients in culinary applications because they can be consumed in a variety of forms, including frozen, canned, fresh, and processed products like pickled or smoked varieties.

The Scallops segment is expected to have the highest CAGR during the forecast period

The segment with the highest predicted CAGR is scallops. The rising demand for scallops as a premium source of protein that appeals to consumers who are health conscious is a major factor driving this growth. In addition to their delicate flavour and texture, scallops are prized for their nutritional value, as they are high in vitamins, minerals, and omega-3 fatty acids, all of which are necessary for a balanced diet. Scallop demand is rising in the retail and food service sectors due to the growing global population and shifting dietary preferences toward healthier options. Furthermore, improvements in aquaculture techniques are increasing the productivity of scallop production, which is facilitating market expansion. 

Region with largest share:

The market for mollusks is dominated by the Asia-Pacific region. The main causes of this dominance are the large production and consumption of seafood in nations like South Korea, Japan, and China, where a long-standing cultural preference for seafood exists. The area has a climate that is ideal for aquaculture, and its long coastlines and diverse mollusk species, including oysters and clams, allow for abundant yields of these products. Moreover, the demand for nutrient-dense seafood options is being driven by consumers growing health consciousness and rising disposable income.

Region with highest CAGR:

The mollusc market is expected to grow at the highest CAGR in the Europe region. The increase in demand for high-quality seafood products can be ascribed to consumer inclinations towards convenience, variety, and freshness. The European seafood market is marked by a strong preference for sustainably and ethically sourced seafood. Oysters, clams, and scallops are among the mollusks that consumers are increasingly looking for because of their nutritional value and culinary versatility. 

Key players in the market

Some of the key players in Molluscs market include Eastern Fish Company, Maruha Nichiro Corporation, Cermaq ASA, Avla Nettos Exports, Nippon Suisan Kaisha, Ltd., Ulka Seafoods Pvt. Ltd., Cooke Aquaculture Inc., Tassal Group Ltd., Blue Ridge Aquaculture, Dongwon Industries Co., Ltd., Nireus Aquaculture S.A., Selonda Aquaculture S.A., Pacific Seafood Group, Bumble Bee Foods, LLC and Thai Union Group PCL.

Key Developments:

In March 2024, Japan's Maruha Nichiro, the world's largest seafood company, has acquired a 10 percent stake in surimi producer Kibun Foods for JPY 2.8 billion (€17.2 million/$18.6 million). The alliance between the two Japanese seafood giants will focus on the joint development of new products and will also allow the companies to use each other’s commercial distribution channels to reach new customers in North America and Europe.

In March 2023, Cooke Inc has entered a binding purchase agreement to acquire Slade Gorton, a legacy seafood company in the US. Cooke Aquaculture is continuing its international expansion and growing its brand portfolio after acquiring Slade Gorton. Slade Gorton is a legacy fresh and frozen seafood company that boasts over 95 years in the industry.

Types Covered:
• Oysters
• Clams
• Mussels
• Scallops
• Other Types 
 
Species Covered:
• Crassostrea
• Ruditapes Philippinarum
• Scallops
• Other Species 

Cultivation Cultures Covered:
• Saltwater
• Freshwater
• Soil 

Forms Covered:
• Frozen
• Canned 
 
Distribution Channels Covered:
• Hypermarkets and Supermarkets
• Convenience Store
• Online Retail
• Wet Markets
• Direct Sales 

End Users Covered:
• Food Service
• Retail
• Industrial
• Pharmaceutical
• Nutraceutical
• Other End Users

Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan        
o China        
o India        
o Australia  
o New Zealand
o South Korea
o Rest of Asia Pacific    
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa 
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2022, 2023, 2024, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements

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