The global Molluscs Market, valued at USD 58.42 billion in 2021, is poised for significant growth, projected to reach USD 93.14 billion by 2030, expanding at a compound annual growth rate (CAGR) of 5.32% during the forecast period (2022–2030). Molluscs, the second-largest group in the animal kingdom after arthropods, are integral to both aquatic and terrestrial ecosystems. With their diverse species, including gastropods, bivalves, and cephalopods, molluscs play a crucial role in aquaculture and the seafood industry. Their nutritional benefits, coupled with rising consumer demand for protein-rich diets, are driving market expansion.

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Market Scope and Research Methodology

The molluscs market analysis encompasses a detailed study of market dynamics, including drivers, restraints, opportunities, and challenges. The research methodology involves a combination of primary and secondary research, ensuring accurate and reliable data. Primary research includes interviews with industry experts, while secondary research involves analyzing industry reports, company publications, and government databases. The study period spans from 2018 to 2030, with 2021 as the base year. The forecast period (2022–2030) provides insights into future market trends and growth prospects.

Market Dynamics

The global shift towards high-protein diets as a healthier alternative to calorie-dense foods is a key driver. Molluscs, being a low-fat and nutrient-rich source of protein, are increasingly preferred by health-conscious consumers. They are packed with essential vitamins, iron, and omega-3 fatty acids, which contribute to muscle building and overall health.

The expansion of aquaculture, particularly in developing nations like China, India, and Japan, is fueling market growth. Increased disposable incomes and a growing preference for healthy lifestyles are further propelling demand. The availability of fresh, diverse, and high-quality seafood products is also boosting consumer interest.

The molluscs market faces challenges due to the high costs associated with production. This has led to a decline in mollusc farming in recent years. Despite this, demand continues to rise due to population growth and the increasing popularity of protein-rich diets. Additionally, stringent government regulations and policies may hinder market expansion.

Segmentation

By Species

• Crassostrea: This segment dominates the market, driven by increasing production in emerging markets like China, India, and Japan. Rising health consciousness among consumers is also contributing to its growth.

• Scallops: Expected to grow at the fastest rate, scallops are in high demand due to their high-quality protein content and increasing per capita seafood consumption.

By Form

• Frozen: The frozen segment holds the largest market share, driven by consumer preference for nutrient-dense and protein-rich seafood. The demand for processed and packaged seafood products is also boosting this segment.

• Canned: While smaller in comparison, the canned segment is growing steadily due to its convenience and longer shelf life.

By Distribution Channel

• Hypermarkets and Supermarkets: These channels account for the largest share, as consumers prefer physically inspecting the quality of seafood products. Advancements in distribution networks are further supporting this segment.

• Online: The online segment is gaining traction, especially among younger consumers who value convenience and home delivery options.

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Regional Insights

• Asia-Pacific: This region leads the global molluscs market, driven by rising disposable incomes, increasing health consciousness, and a growing preference for nutritious food. Countries like China, India, and Japan are major contributors due to their high seafood consumption.

• Europe: Europe is the fastest-growing market, fueled by the demand for premium-quality seafood products. The region's focus on food safety, freshness, and variety is driving market expansion.

• North America: The market in North America is growing steadily, supported by the increasing popularity of seafood as a healthy dietary option.

• Central and South America, Middle East, and Africa: These regions are witnessing gradual growth, with increasing awareness of the nutritional benefits of molluscs.

Key Players

• 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

Recent Developments

• January 2022: Wanchese Fish Company, a division of Cooke Seafood USA, launched its newest shrimp trawler, F/V Destiny, for operations in southern Argentine waters. This modern vessel is expected to enhance shrimp production efficiency.

• February 2022: Cooke Aquaculture was recognized as one of Atlantic Canada’s Top Employers for 2022, highlighting its commitment to sustainability and employee welfare.

Conclusion

The global molluscs market is on a robust growth trajectory, driven by increasing demand for protein-rich diets, expanding aquaculture, and rising consumer awareness of the health benefits of seafood. While high production costs and regulatory challenges pose obstacles, the market's potential remains significant. With Asia-Pacific leading the charge and Europe emerging as the fastest-growing region, the molluscs market is set to thrive in the coming years. Key players are leveraging innovation and sustainability to meet consumer demands, ensuring a dynamic and competitive market landscape.

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