The global oyster and clam market is expected to grow at a CAGR of 3.85%, reaching a market size of US$195.232 billion in 2029 from US$161.629 billion in 2024.
Oysters and clams are known to be a type of shellfish that are commonly found in aquacultures. They are a type of mollusc variety of shellfish that are known to provide a wide range of benefits. Oysters are known to be high in protein and low in calories, providing a good source of protein to the diet. They are also known to be rich in zinc, with just one 3-ounce serving more than double the daily recommended intake of zinc for adults. Zinc is known for playing a crucial role in the immune system of the human body and has been shown to reduce the duration of the common cold when consumed as a supplement during the early stages.
Introduction:
The global oyster and clam market is expected to witness significant growth during the forecasted period of 2024-2029 due to various factors, such as the increasing number of health-conscious consumers in the market. This further increases the health awareness of shellfish and increases the consumption of shellfish, which is further influenced by the increasing global population and increase in food demands.
Market Drivers:
The United Nations states that the global population is expected to increase from 8 billion people in November 2022 to 9.7 billion people in 2050. This increase in population can also increase the demand for food globally, driving the growth in the consumption of seafood as well. This will further drive the global oyster and clam market growth during the forecasted period.
Key Players:
Regional Analysis:
The Asia Pacific region is expected to witness significant growth in the oyster and clam market during the forecasted period of 2024-2029. The increasing consumption of shellfish drives the oyster and clam market growth in the region. Maldives, China, and South Korea contribute to the high rate of consumption of shellfish in the region, which includes crustaceans and molluscs. The Asia Pacific region houses the largest population in comparison to the rest of the world.
Furthermore, the increase in the population of the region will drive the demand for food, which includes all types of foods, such as cereal and seafood. As per the UNFPA, the Asia and the Pacific region is home to 60% of the world's total population as of 2022, which accounts for approximately 4.3 billion people. The increase in global population will drive the growth of seafood consumption as well, with the Asia Pacific being the lead contributor globally. As per ourworldindata.org, the top leaders in fish and seafood consumption per capita consist of the Maldives, China, and South Korea, which account for an estimated 87.30kg, 65.79kg, and 54.66kg, respectively.
The high relevance of seafood consumption, which includes shellfish such as oysters and clams, makes the Asia Pacific the leading region in the global oyster and clam market during the forecasted period due to the increase in regional population, further influencing the increase in food demand.
Segmentation: