In 2023, Canada's dominance in the global export of fresh or chilled lobsters stood at 50.91% of total market share, marking a notable increase from previous years. The United States, holding a 38.68% share, also showed a positive growth trajectory, although at a slower pace. The United Kingdom, Belgium, and the Netherlands together accounted for around 5% of the market, each experiencing growth, especially Belgium and the Netherlands with over 1.8% increases. Denmark showed significant growth with a 29.67% increase, while Malaysia and Pakistan experienced notable declines. The CAGR reveals the considerable growth potential, especially in smaller markets like Bahrain and Morocco.
Future trends to watch include:
- Continued growth in the Asian markets such as China and Singapore, driven by increasing demand for luxury foods.
- The potential impact of sustainable fishing practices and regulations on lobster supply affecting traditional markets like Canada and the US.
- Innovation in logistics to reduce costs and meet the rising demand in regions such as Europe.
Top countries in Export of Fresh or Chilled Lobsters Share by Country (US Dollars)
| # | 10 Countries | Percent | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Canada | 50.91 | 2023 | +3.58% | +5.45% | View data |
| 2 | 2 United States | 38.68 | 2023 | +2.77% | +2.91% | View data |
| 3 | 3 United Kingdom | 2.62 | 2023 | +0.87% | +1.41% | View data |
| 4 | 4 Belgium | 1.52 | 2023 | +2.22% | +1.83% | View data |
| 5 | 5 Netherlands | 1.23 | 2023 | +1.32% | +2.02% | View data |
| 6 | 6 France | 0.74 | 2023 | +1.92% | +1.8% | View data |
| 7 | 7 Tanzania | 0.68 | 2023 | +6.73% | +1.4% | View data |
| 8 | 8 Ireland | 0.4 | 2023 | -0.0093% | +0.25% | View data |
| 9 | 9 Philippines | 0.39 | 2023 | -3.71% | +1.65% | View data |
| 10 | 10 Germany | 0.37 | 2023 | +4.09% | +2.23% | View data |
