Lobster Market Size, Share, Growth and Industry analysis, By Type (Japanese Lobster, South African West Coast Lobster, Mozambique Lobster, Chilean Lobster, Maine Lobster, Blue Lobster, Norway Lobster, Others), By Application (Food Service, Retail) and Regional Forecast to 2034

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LOBSTER MARKET OVERVIEW

The global lobster market size was valued at USD 9.866 billion in 2025 and is expected to reach USD 23.84 billion by 2034, growing at a compound annual growth rate (CAGR) of about 10.3% from 2025 to 2034.

Lobsters is a type of shellfish from the family of marine crustaceans with long cylindrical body, muscular tail, stalked eyes and five pairs of jointed legs that is prepared by boiling or steaming. It can be served as a main course, eaten as a sandwich filler, or even added to dishes like burgers, pasta, mashed potatoes, and eggs benedict.

Lobster is one of the highly prized seafood that can be served as the main source of protein and essential nutrients in a meal. It is a rich source of copper, phosphorous, zinc, omega-3 fatty acids, magnesium, and vitamin E and B12 that help to protect against thyroid disease, depression, and anaemia. It is a good source of phosphorous, which supports kidney function. Growing health awareness among consumers, increasing preference for protein-rich diet and expanding hospitality industry are the driving factors of the market.

KEY FINDINGS

COVID-19 IMPACT

Industry Shutdown Causes Market Distortion

The COVID-19 epidemic caused problems for food companies like volatile markets, a drop in customer confidence, and difficulties with import and export transactions. Markets were shut down and people stayed at home due to the lockdown. However, this sudden fall in demand disrupted the entire market because the necessary materials were not readily available. In addition to having an immediate influence on markets, supply chains, supply and demand, and all of these other things, it also had a financial impact on the markets for lobsters. Food manufacturers are concentrating on safeguarding their personnel, business processes, and supply chains to deal with this severe scenario. The pandemic impacted the industry dynamics, forcing organizations to revamp their entire operation structures to maintain stability amid the disruptions. Aside from that, the companies' business operations have been affected by the outbreak, which has an effect on the overall industry. This has partially impacted market demand.

LATEST TRENDS

Expansion of Hospitality Industry to Fuel Market Growth

The growth of market can be attributed to various factors such as the rising demand for protein rich food, growing health concerns and easy availability of frozen, canned products. Consumers are becoming more inclined to adopt healthy eating practices that has resulted in increasing demand for seafood. The demand for seafood is anticipated to increase due to the packaged and processed food market's rapid growth, which will ultimately fuel the market's overall growth over the forecast period. Rising trend for premium products, advancements in food technologies, Introduction of new innovative product lines by key industry players is expected to boost lobster market growth during the forecast period.

• Global lobster landings reached 304,526 tonnes in 2022, showing a 4.3% decline compared to 2021, highlighting reduced availability in wild catches.

• Around 153,100 tonnes of fresh and frozen lobster were traded globally between January and September 2024, demonstrating continued strong cross-border demand despite seasonal fluctuations.

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LOBSTER MARKET SEGMENTATION

By Type Analysis

According to type, the market can be segmented into Japanese Lobster,South African West Coast Lobster,Mozambique Lobster,Chilean Lobster,Maine Lobster,Blue Lobster,Norway Lobster,Others

By Application Analysis

Based on application, the market can be divided into Food Service and Retail.

DRIVING FACTORS

Increase in the Standard of Living to Stimulate Market Demand

Global economy has developed into modern, industrialized economy and standards of living is increasing over time. Higher standard of living directly affects the purchasing power of consumers which in turn increases consumer’s spending on various goods and services. As a result of rise in standard of living of people, increase in purchasing power of consumers and awareness regarding the benefits of lobsters, market is anticipated to grow in the forecast period.

• China imported 37,911 tonnes of North American lobster in 2023, up from 31,377 tonnes in 2022, reflecting a rapid increase in international consumption.

• Canada exported approximately 87,189 tonnes of lobster in 2023 and 80,365 tonnes in 2024, showcasing its dominant role as a global supplier.

Rising Health Consciousness to Accelerate Market Growth

As people are becoming health conscious, demand for lobsters is increasing over time. It is a rich source of copper, phosphorous, zinc, omega-3 fatty acids, magnesium, and vitamin E and B12. It helps to protect against thyroid disease, depression, and anaemia due to presence of antioxidants. Because of the presence of phosphorous, it supports kidney function. All these health benefits are the responsible for the growth of market in the forecast period.

RESTRAINING FACTORS

Increasing Preference for Vegan Products to Hamper Market Growth

Increasing shift from animal based products towards plant-based food products and the growing popularity of the vegan diet have resulted in fall in demand for seafood. Rising consumer awareness regarding animal cruelty and pressure from organizations like PETA are anticipated to hinder the growth of market during forecast period.

• Maine’s commercial lobster landings dropped to 86.1 million pounds in 2024, a 15-year low, with fishermen setting 285,000 fewer traps compared to 2023.

• Canadian lobster exports declined by 17% in the first half of 2024, falling to 38,099 tonnes, indicating reduced international demand and shipment slowdowns.

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LOBSTER MARKET REGIONAL INSIGHTS

Growing Demand in North America Anticipated to Boost Market Expansion

Due to increase in purchasing power of consumers, change in lifestyle and rising demand for lobsters, North America holds the leading position in lobster market share. The main element to contribute to the industry growth in North America is rising awareness regarding the health benefits of consuming lobsters and introduction of premium variants by key producers.

KEY INDUSTRY PLAYERS

Adoption of Innovative Strategies by Key Players Influencing Market Growth

Prominent market players are making collaborative efforts by partnering with other companies to stay ahead of the competition. Many companies are also investing in new product launches to expand their product portfolio. The top key players in the market are Boston Lobster, Douty Bros Inc., Bayley’s Lobster Pound, Thai Union, Island Seafood, Clearwater Seafoods, Cap Morrill's Inc., East Cost Seafood, High Liner Foods Inc., Supreme Lobster, Escanaba and others. The strategies to develop new technologies, capital investment in R&D, improve product quality, acquisitions, mergers, and compete for the market competition help them to perpetuate their position and value in the market. Besides, collaboration with other companies & extensive possession over market shares by the key players stimulates market demand.

• World Link Food Distributors Inc. – Ships over 8 million pounds of live lobster annually to 24 countries, sourcing from 500+ boats.

• Tangier Lobster – Exports lobster to 14 countries and serves as a founding member of Canadian seafood councils.

List of Top Lobster Companies

• Supreme Lobster
• A S Francis Lobster
• World Link Food Distributors Inc.
• Island Seafood
• Douty Bros Inc.
• Cap Morrill's Inc.
• Philbrick Lobster Company
• East Cost Seafood
• Boston Lobster
• High Liner Foods Inc.
• Bayley?s Lobster Pound
• Tangier Lobster
• Clearwater Seafoods
• Thai Union

REPORT COVERAGE

This report examines an understanding of the lobster market’s size, share, and growth rate, segmentation by type, application, key players, and previous and current market scenarios. The report also collects the market’s precise data and forecasts by market experts. Also, it describes the study of this industry’s financial performance, investments, growth, innovation marks, and new product launches by the top companies and offers deep insights into the current market structure, competitive analysis based on key players, key driving forces, and restraints that affect the demand for growth, opportunities, and risks.

Furthermore, the post-COVID-19 pandemic’s effects on international market restrictions and a deep understanding of how the industry will recover, and strategies are also stated in the report. The competitive landscape has also been examined in detail to provide clarification of the competitive landscape.

This report also discloses the research based on methodologies that define price trend analysis of target companies, collection of data, statistics, target competitors, import-export, information, and previous years’ records based on market sales. Moreover, all the significant factors which influence the market such as small or medium business industry, macro-economic indicators, value chain analysis, and demand-side dynamics, with all the major business players have been explained in detail. This analysis is subject to modification if the key players and feasible analysis of market dynamics change.