M&A Activities Among Key Players Strengthen Global Crab Market

The global crab market size was valued at USD 3.34 billion in 2023 and is projected to reach USD 4.21 billion by 2030, growing at a CAGR of 3.4% from 2024 to 2030. Crab is widely regarded as a premium seafood product, prized for its tender meat and delicate flavor, making it a staple in luxury dining.

Rising disposable incomes in developed countries and the expanding middle-class population in emerging markets are fueling demand for premium seafood, including crab. In regions such as North America, Europe, and Asia Pacific, crab is often seen as a delicacy featured in fine dining and gourmet cuisine.

Consumers are increasingly willing to pay for high-quality seafood due to its perceived health benefits compared to red meat or poultry. This shift in preference has boosted the popularity of dishes like crab cakes, crab legs, and soft-shell crab. At the same time, processed crab products—such as canned crab, frozen crab meat, and crab sticks—are gaining traction in the ready-to-eat and convenience food categories. Busy lifestyles have accelerated this trend, with consumers seeking quick, nutritious, and versatile meal solutions.

Crab meat’s versatility further supports its growth, as it is widely used in salads, soups, pasta, and sushi. The expansion of quick-service restaurants (QSRs) and fast-casual dining chains offering crab-based dishes has also amplified demand for processed crab meat.

Key Market Insights:

• Asia Pacific accounted for 43.5% of global revenue in 2023.
• By type, the frozen crabs segment held the largest share at 46.7% in 2023.
• By application, crab meat dominated with a 59.8% share in 2023.
• By distribution channel, retail channels led with a 58.0% share in 2023.

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Market Size & Forecast:

• 2023 Market Size: USD 3.34 Billion
• 2030 Projected Market Size: USD 4.21 Billion
• CAGR (2024–2030): 3.4%
• Asia Pacific: Largest market in 2023

Key Companies & Market Share Insights:

Leading players are focusing on product innovation, partnerships, mergers & acquisitions, and sustainability initiatives to expand their presence and capture new opportunities.

Recent Developments:

• September 2023: Handy Seafood launched microwavable mini crab cakes, offering consumers a convenient, restaurant-quality experience at home.
• February 2023: Handy Seafood introduced vibrant, sustainable packaging that is recyclable and compostable, aligning with global efforts to reduce plastic waste.
• January 2022: Handy Seafood partnered with Old Bay to launch new flavored crab cakes, leveraging Old Bay’s iconic seasoning to expand its product line and strengthen consumer appeal.

Key Players:

• The J.M. Clayton Company
• Phillips Foods, Inc.
• Blue Star Foods Corp.
• Nippon Suisan Kaisha (Nissui)
• High Liner Foods Inc.
• Trans-Ocean Products
• Graham & Rollins, Inc.
• Handy Seafood Incorporated
• King Crab Legs Company
• Harbor Seafood

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Conclusion:

The global crab market is steadily expanding, driven by rising demand for premium seafood, the growing popularity of processed crab products, and increased consumer preference for convenience and nutrition. With innovation and sustainability shaping the industry, crab continues to strengthen its position as a versatile and high-value seafood choice.