United States Lobster Market was valued at USD 3.6 Billion in 2022 and is projected to reach USD 5.2 Billion by 2030, growing at a CAGR of 5.0% from 2024 to 2030.
The US Lobster Market plays a critical role in the global seafood industry, with the demand for lobsters steadily increasing in various sectors. Whether it's the restaurant industry, food processors, or even the retail market, the types of lobsters and the specific requirements from industries shape this market's landscape. From high-quality live lobsters for fine dining to processed lobster meat for mass consumption, the industry is diverse and dynamic.
In the US, two primary types of lobsters dominate the market: the American Lobster (Homarus americanus) and the European Lobster (Homarus gammarus). While the American lobster is more common and heavily traded, especially in the northeastern US, the European lobster is also gaining traction due to its unique flavor profile. These lobsters are harvested from cold, clean waters, and the supply chain from fishing to processing is crucial in meeting the growing demand.
The demand for lobsters in various industries can be categorized as follows:
Restaurant Industry: High-end restaurants and seafood chains are always on the lookout for premium lobsters. Live lobsters or lobster tails are the most sought-after products, with the focus on freshness and quality. Chefs often prefer larger, meatier lobsters for their dishes.
Retail Market: Frozen lobster tails, cooked lobster meat, and lobster rolls are in high demand in grocery stores and supermarkets. Processed lobster meat is often packaged in convenient formats for consumers who are looking for easy-to-prepare options.
Processing Sector: Lobster meat that is removed from the shell is heavily used in the production of frozen meals, soups, and sauces. Industries in this segment require lobsters that are easily processed and provide consistent quality and yield.
The US Lobster Market has experienced fluctuations due to factors such as climate change, which impacts lobster migration and population. Furthermore, the sustainability of lobster fishing practices and environmental regulations are key considerations for the industry. In addition, the labor-intensive process of harvesting lobsters, from traps to transport, affects the cost and availability in the market.
As consumer preferences shift towards sustainability and convenience, industries are increasingly prioritizing responsibly sourced lobsters and pre-packaged, ready-to-eat lobster products. The future of the US Lobster Market will likely see further innovation in packaging and processing technologies, aiming to meet the growing consumer demand for high-quality, sustainable lobster products.
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Boston Lobster
Clearwater Seafoods
East Coast Seafood Group
Supreme Lobster
Tangier Lobster
Boston Lobster
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the US Lobster Market
Households
Occasional consumers
Frequent consumers
Retail
Food service
E-commerce
Premium
Mid-range
Budget-conscious
Everyday meals
Special occasions
Seasonal events
Eco-conscious consumers
Mainstream consumers
Uninformed consumers
US (United States, US and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the US Lobster Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. US Lobster Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. US Lobster Market, By Type
6. US Lobster Market, By Application
7. US Lobster Market, By Geography
US
Europe
Asia Pacific
Rest of the World
8. US Lobster Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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