Europe Lobster Market to Reach 75.5 Kilo Tons by 2027, Impelled by Increasing Health Consciousness Among the Consumers

December 09, 2022

According to the latest report by IMARC Group, titled "Europe Lobster Market: Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2022-2027," the Europe lobster market reached a volume of 58.4 Kilo Tons in 2021. A lobster is a large shellfish with eight legs. It has a long body enveloped with two large claws, a hard shell, and eight legs. It belongs to a family of marine crustaceans and lives in crevices or burrows on the sea floor. It is bluish-black in appearance, but it turns red when cooked. It is economically significant and is often one of the most profitable commodities in the coastal areas they populate. Lobster is rich in protein, omega-3 fatty acids, vitamins, and minerals. Its consumption is known to promote weight loss and improve mental health while reducing the risks of developing heart disease and cancer.

Europe Lobster Market Trends:

The market in Europe is majorly driven by the increasing awareness regarding the benefits associated with the consumption of lobsters. Also, the growing popularity of western cuisines and the escalating product usage in preparing exotic delicacies are propelling the market. In line with this, the changing lifestyles and eating habits of the consumers, along with the inflating disposable incomes, are significantly contributing to the market growth. Furthermore, the rising health consciousness among the masses is positively influencing the market. Apart from this, the leading manufacturers are introducing premium-grade canned and frozen products to cater to consumers' diversified tastes, thus augmenting the uptake of lobsters. Additionally, rapid innovations in product development offer numerous opportunities for market expansion. Other factors, including significant growth in the hospitality industry, the increasing number of restaurants providing lobster dishes, and the shifting preference of consumers from high-calorie food products toward a protein-rich diet, are further expected to provide a boost to the market. On account of the factors above, the market is anticipated to reach a volume of 75.5 Kilo Tons by 2027, exhibiting a CAGR of 4.27% during 2022-2027. 

Market Summary:

  • On the basis of the species, the market has been categorized into American lobster, spiny lobster, rock lobster, and European lobster.
  • Based on the weight, the market has been classified into 0.5-0.75 lbs, 0.76-3.0 lbs, and over 3 lbs.
  • Based on the product type, the market has been segmented into whole lobster, lobster tail, lobster meat, and lobster claw.
  • Based on the distribution channel, the market has been bifurcated into food service and retail.
  • On the basis of the region, the market has been divided into Germany, France, the United Kingdom, Italy, Spain, and others.
  • The competitive landscape of the market has been studied in the report with detailed profiles of the key players operating in the market.

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Europe Lobster Market to Reach 75.5 Kilo Tons by 2027, Impelled by Increasing Health Consciousness Among the Consumers
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