The global lobster market reached a value of US$ 7.0 Billion in 2022. As per the analysis by IMARC Group, the top players in the lobster market are launching value-added and premium grade products to cater to the diversified tastes and changing preferences of consumers, especially the urban population. They are also offering frozen, canned, and vacuum-packed lobsters that offer enhanced convenience, easy storage, and extended shelf life to increase product sales. Apart from new product launches, manufacturers are also focusing on advancing distribution strategies to expand their consumer base and gain a competitive edge in the market. In addition, they are engaging in mergers, acquisitions, and collaborations as key development strategies to improve their overall profitability. Furthermore, the rising investments in research and development (R&D) activities to introduce new ways to enhance the quality and export value of lobsters is offering lucrative opportunities to the market players. Looking forward, the market value is anticipated to reach US$ 12.0 Billion by 2028, expanding at a CAGR of around 9.3% during 2023-2028.
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Headquarter: Boston, Massachusetts
Boston Lobster Company is one of the premier distributors of live lobsters across the globe. It provides the best quality hard-shell lobsters year-round at the most competitive price. The company's lobster pound and holding facility in southwest Nova Scotia ensures an adequate product supply through the long winter months. It ensures a year-long supply by "pounding" lobsters at strategic times of the year in its total pool located in Nova Scotia. Its main facility in South Boston is fully HACCP compliant and incorporates the latest technologies for holding live lobsters. In 2002, the company completed retrofitting its cooler and installed one of the first totes holding systems in the United States which, improved the productivity of employees, reduced the stress on the lobsters, and enhanced the product quality. Moreover, the company's proximity to Logan International Airport allows it to handle all last-minute orders and save precious "out-of-water" time.
Headquarter: Halifax, Nova Scotia
Clearwater Seafoods LP is one of the largest vertically integrated seafood companies in North America. It operates from 'ocean to plate,' owning various fishing quotas, vessels, plants, and processing facilities. It is globally recognized for its superior quality, food safety, and diversity of premium wild-caught seafood such as scallops, lobster, clams, coldwater shrimp, and crabs. As a leading harvester, processor, and marketer of sustainably sourced seafood, Clearwater Seafoods LP supplies its products to wholesalers, retailers, and foodservice distributors worldwide. In 2015, the company acquired the Scotland-based Macduff Shellfish Group, bringing together two of the world's leading and fastest-growing vertically integrated wild shellfish harvesters. Macduff's product portfolio closely complements Clearwater's offerings with King and Queen scallops, langoustine, brown and velvet crab, and whelk.
Headquarter: New Bedford, Massachusetts
East Coast Seafood Group (ECSG) is a global leader in the seafood industry that operates worldwide and offers a diversified line of top-quality seafood products. Its signature products include North American lobster and scallops. The company places lobster and scallop processing under one roof with new state-of-the-art lobster processing lines. This dual production offers production innovations to complement its seafood appetizers and entrée offerings. Moreover, the company is also focusing on an expanded fish species line that includes popular fish types in commodity packs and value-added marinades/dry rubs. Its portfolio of seafood companies includes but is not limited to ECSG, one of the largest providers of North American lobster, and Seatrade International, which operates scallop and fin-fish processing plants in Lakeville and New Bedford.
Headquarter: Geraldton, Western Australia
Geraldton Fishermen's Co-operative Ltd. is a global leader in rock lobster processing and exportation. It is fully owned by fishers and license holders supplying the Co-operative and is operated for the benefit of members and the communities where they operate. The company specializes in the processing and exporting of Western Rock Lobster. It is the world's largest rock lobster processor, with approximately 60 percent of Western Australia's (WA) commercial rock lobster catch flowing through its supply chain. Furthermore, the company supports fishers, employees, license holders, and their family members along a thousand kilometers of WA's coastline.
Headquarter: Nova Scotia, Canada
High Liner Foods Incorporated is a leading North American processor and marketer of frozen value-added seafood. It offers a wide array of products, ranging from breaded and battered items to seafood entrees. The company's retail branded products are sold throughout the United States and Canada under the High Liner, Fisher Boy, Mirabel, and Sea Cuisine labels. It sells branded products under the High Liner, Icelandic Seafood, Mirabel, and FPI labels to restaurants and institutions. Moreover, it is a major supplier of private-label, value-added frozen seafood products to North American food retailers and foodservice distributors.
Headquarter: Chapela (Redondela), Pontevedra
Pescanova Espana SL is a leading Spanish multinational in the seafood sector and one of the few companies in the world present throughout the value chain, from origin to sale. It specializes in fishing, farming, processing, and marketing seafood. With a team of 10,000 people in 19 countries in Europe, Africa, America, and Asia, the company offers more than 80 fish and shellfish species under the Pescanova brand. Moreover, the company owns and operates 60 ships, 7,500 hectares of aquaculture farms (the equivalent of 15,000 football fields), and 17 factories.
Headquarter: Villa Park, Illinois, United States
Supreme Lobster & Seafood Company is a leading distributor in the greater Chicago region, servicing more than 5000 supermarkets, retail outlets, restaurants, catering businesses, foodservice operators, and other institutions. It provides the highest quality seafood and receives air and truck shipments on a daily basis, guaranteeing freshness. The company also imports seafood from Asia, Australia, Europe, and New Zealand. It offers specialty items, such as fresh fish from Hawaii, New Zealand, and France, along with smoked fish, 17 varieties of caviar, escargot, sardines, and a wide range of herring products.
Headquarter: Tangier, Nova Scotia
Tangier Lobster Company Limited is a leading Canadian exporter of live lobster to the international marketplace. It owns and operates a state-of-the-art facility nestled by the Atlantic Ocean on the Eastern Shore of Nova Scotia, Canada. The company sources premium Canadian hard-shell live lobsters that are vigorous and well-seasoned for international shipment. It sources the vast bulk along the Atlantic side of Nova Scotia and the 'black lobster' it tends to produce. It has an experienced staff of coastal residents who are well versed in lobster grading and quality control.
Headquarter: Bangkok, Thailand
Thai Union Manufacturing Company Ltd. is a subsidiary of Thai Union Group PCL, a global seafood leader with a diversified portfolio of brands, including convenient consumer favorites that have brought nutritious and tasty seafood to tables worldwide for over a century. Thai Union was originally established as Thai Union Manufacturing Co. Ltd., a processor and exporter of canned tuna. The company is committed to sustainability and innovation. To accelerate its innovation progress, the company launched the Global Innovation Incubator in 2015 – a world-class research and development (R&D) facility and the first of its kind in Thailand.
About IMARC Group: IMARC Group is a leading market research and consulting company that offers management strategy and market research worldwide. The company has done multiple projects on the global lobster market and regional Japan, The Asia Pacific, which has enabled clients to set up and expand their businesses successfully. Some of the company's offerings include:
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