The global lobster market reached a value of US$ XX Million in 2017. The market is further projected to reach a value of US$ XX Million by 2023, expanding at a CAGR of X% during 2018-2023. Lobsters are marine crustaceans with a long cylindrical body, muscular tail, stalked eyes and five pairs of jointed legs. Covered with a chitinous exoskeleton, lobsters are typically greenish-brown in colour but turn bright red when cooked. They are a rich source of copper, phosphorous, zinc, omega-3 fatty acids, magnesium, and vitamin E and B12. Lobsters also provide protection against thyroid due to the presence of selenium which functions as an antioxidant. Apart from this, consumption of lobsters is known to reduce inflammation, boost energy and improve cognition.
Currently, the majority of lobsters are provided by Canada and the United States of America. The elimination of around 98% of the tariffs between Canada and the European Union under the recent Canada Free Trade Agreement (CETA) has been proactive in boosting Canadian exports to the northern European countries as well as creating new market opportunities in the southern European countries. In line with the decreasing trade in the EU, the US and tropical exporters are turning towards the Chinese market where lobsters have become an integral part of the luxurious dining experience supported by the rising purchasing power of the middle class. Additionally, the improving economic environment in both the developed and developing regions, and recovery in some of the major markets, including Russia and Brazil, are bolstering the market growth.
This report provides a deep insight into the global lobster market covering all its essential aspects. This ranges from macro overview of the market to micro details of the industry performance, recent trends, key market drivers and challenges, SWOT analysis, Porter’s five forces analysis, value chain analysis, etc. This report is a must-read for entrepreneurs, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the cannabis market in any manner.
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