The demand for crustaceans in the US has shown significant variation over the past decade. Encompassing both highs and lows, the actual value for 2023 stood at 2.18 million metric tons. Between 2014 and 2023, overall growth displayed fluctuations with notable changes, such as a sharp decline in 2020 by 16.26% due to pandemic impacts and a subsequent recovery of 15.44% in 2021. The five-year CAGR leading to 2023 was 0.8%. Looking ahead, the forecasted CAGR from 2023 to 2028 is set at 0.67%, translating to a growth rate of 3.37% over this period.
Future trends to watch for:
- Shifts in consumer preferences towards sustainable seafood options.
- Impact of economic conditions on luxury seafood consumption.
- Influence of regulatory changes and trade policies on import volumes.
- Advancements in aquaculture technology potentially boosting local supply.
- Environmental factors affecting crustacean populations and harvests.
