According to the latest report by IMARC Group, titled "Oyster Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026," the global oyster market exhibited negative growth in 2020. Oysters are any member of the Ostreidae or Aviculidae family that are bivalve mollusks. They are found in temperate and warm coastal regions and naturally grow in marine or brackish water. They are made up of two valves that differ in shape and texture with rough surfaces and grey color. The upper valve is in the shape of a convex mirror which is fixed to the bottom surface that is larger and has smoother edges. Apart from being farmed for producing pearls, they are widely consumed as a delicacy as they are a rich source of minerals, zinc, copper, niacin, riboflavin, omega-3 fatty acids and vitamin C. Their consumption is widely associated with boosting immunity, improving bone strength, enhancing cardiovascular health and promoting weight loss.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Oyster Market Trends:
The global market is primarily driven by significant growth in the bivalve aquaculture sector. Supported by the increasing number of seafood trade activities across the globe, this is providing an impetus to the market growth. Moreover, due to the growing health consciousness among the masses, there has been a considerable rise in the consumption of bivalves and thick-shelled seafood variants. This is further supported by the growing preference for a protein-rich diet among individuals and the widespread popularity of inter-continental foods. The market has further been driven by the introduction of canned and frozen oyster variants in the market that are gaining widespread prominence among the masses due to their extended shelf life and ease of storage. Moreover, several key players are now adopting innovative solutions that assist in the domestication and in-house oyster cultivation in artificial marine-like environments. This enables them to mass-produce oysters in an efficient manner to cater to the ever-increasing consumer demand. Some of the other factors contributing to the market growth include the inflating per capita income levels and the rising preference for gourmet seafood cuisines. On account of the aforementioned factors, the market is expected to grow at a CAGR of around 5% during 2021-2026.
- On the basis of the oyster type, the market has been divided into cupped oyster, pacific cupped oyster, American cupped oyster, penguin wing oyster, and others.
- Based on the end user, the market has been bifurcated into foodservice and retail (supermarkets and hypermarkets, convenience stores, specialty outlets, online channels, and others).
- On the basis of the packaging form, the market has been classified into fresh, frozen, canned and others.
- On the geographical front, the market has been segregated into North America (the United States and Canada), Europe (France, Ireland, the Netherlands, the United Kingdom, Spain, and others), Asia Pacific (China, Japan, India, Indonesia, Vietnam, Bangladesh, and others), Latin America (Brazil, Mexico, Chile, and others), and Middle East and Africa (Egypt, Morocco, Nigeria, and others).
- The competitive landscape of the industry has been examined in the report with the detailed profiles of the key players. Some of these players include Chatham Shellfish Company, JM Clayton Seafood Company, Maine Lobster Now, France Naissain, Hog Island Oyster Company, Hoopers Island Oyster Company, Huitres Favier Earl, Huîtres Hélie, Mere Point Oyster Company, Morro Bay Oyster Company, Murder Point Oysters, Pangea Shellfish & Seafood Company, Inc., Tomales Bay Oyster Company LLC, Westcott Bay Shellfish Company and White Stone Oyster Company.
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