Asia Pacific Lobster Market

Market Overview:

The Asia Pacific lobster market size reached 39,800 Tons in 2022. Looking forward, IMARC Group expects the market to reach 51,100 Tons by 2028, exhibiting a growth rate (CAGR) of 4.9% during 2023-2028.

A lobster is an invertebrate marine crustacean that belongs to the Arthropoda family. It has hard shells like that of crab, shrimp, and woodlice with large pairs of claws. Lobsters have a rigid, segmented body covering (exoskeleton), which is typically greenish-brown in color but turns bright red when cooked. They are a rich source of copper, selenium, zinc, phosphorous, vitamin E and B12, magnesium, and omega-3 fatty acid. They provide various health benefits, such as protection against thyroid dysfunction, reducing inflammation, boosting energy and improving cognition.

The Asia Pacific region represents one of the largest lobster markets, primarily driven by increased consumption of lobsters in countries such as China. Besides this, lobsters have become an integral part of the luxurious dining experience supported by consumers’ purchasing ability and the perception toward expensive delicacies as a symbol of social standing and affluence. Moreover, consumers across the region opt for lobster as it consists of fewer calories than chicken and is considered rich and decadent, for which consumers are willing to pay a high price. 

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the Asia Pacific lobster market report, along with forecasts at the regional and country level from 2023-2028. Our report has categorized the market based on species, weight, product type and distribution channel.

Breakup by Species:

• American Lobster
• Spiny Lobster
• Rock Lobster
• European Lobster
   

Breakup by Weight:

• 0.5 – 0.75 lbs
• 0.76 – 3.0 lbs
• Over 3 lbs
   

Breakup by Product Type:

• Whole Lobster
• Lobster Tail
• Lobster Meat
• Lobster Claw
   

Breakup by Distribution Channel:

• Food Service
• Retail
   

Breakup by Country:

• China
• Japan
• India
• South Korea
• Australia
• Indonesia
• Others

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players.

Report Coverage:

Key Questions Answered in This Report:

• How has the Asia Pacific lobster market performed so far and how will it perform in the coming years?
• What has been the impact of COVID-19 on the Asia Pacific lobster market?
• What are the key regional markets?
• What is the breakup of the market based on the species?
• What is the breakup of the market based on the weight?
• What is the breakup of the market based on the product type?
• What is the breakup of the market based on the distribution channel?
• What are the various stages in the value chain of the industry?
• What are the key driving factors and challenges in the industry?
• What is the structure of the Asia Pacific lobster market and who are the key players?
• What is the degree of competition in the industry?