The new report by Expert Market Research titled, ‘United States Crayfish Market Size, Share, Price, Trends, Growth, Report and Forecast 2021-2026’, gives an in-depth analysis of the United States crayfish market, assessing the market based on its segments like type, major production regions, and consumption regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
Note 1: For a snapshot of the primary and secondary data of the market (2016-2026), along with business strategies and detailed market segmentation, please click on request sample report. The sample report shall be delivered to you within 24 hours.
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The key highlights of the report include:
Market Overview (2016-2026)
• Historical Market Size (2020): USD 285 million
• Forecast CAGR (2021-2026): 31.5%
• Forecast Market Size (2026): USD 1555 million
Hundreds of species of crayfish are found in North America and in the United States, the southern state Louisiana is a major producer of these crayfish. The Cajun style of crayfish has a historical significance and is very well acclaimed and eaten with utter delight in Louisiana due to which it demands a massive stock of the same. Crayfish make a nutritious meal containing iron, calcium, and magnesium and as healthy eating progresses to become a lifestyle, it is gaining consumer preference. Some other uses of crayfish like as a bait, pet or for research and study also leads to higher demand for it.
Industry Definition and Major Segments
Crayfish is a type of crustacean found in freshwater. It is like lobsters but smaller in size. Crayfish is called by distinct names like, freshwater or mountain lobsters or mudbugs because they live in the mud of freshwater sources. They may be of different colors varying from red, green to golden.
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The types of crayfish in the market are as follows:
• Red Swamp
• White River Crawfish
• Others
Based on the region wise production it is divided into:
• Southeast
• Greatlakes
• Southwest
• Mideast
• Others
The regional markets, depending on the consumption, can be classified into:
• Southeast
• Southwest
• Greatlakes
• Far West
• Mideast
• New England
• Plains
• Rocky Mountains
Market Trends
Crayfish are demanded in all forms and it is highly preferred live and acquires great price for itself. The larger live red swamps are in absolute demand in the market, especially Louisiana. The smaller ones are generally processed. The whole crayfish is sold in the frozen form or specifically the tail and abdominal meat are very prominent too. Crayfish are tasty and healthy shellfish and alike lobsters or prawns, due to which the market is very dense and prospective. Due to seasonality of crayfish, frozen or processed crayfish fulfil the market in rest of times, as the harvest of crayfish happens from March to June or July. Government through its agencies issues guidelines and certifications to ensure the quality of crayfish out for consumption like the ‘Hazard Analysis and Critical Control Point’ (HACCP) certification.
Key Market Players
The major players in the market are Riceland Crawfish, Acadia Crawfish Co, LLC, Louisiana Crawfish Company, The Louisiana Seafood Company, and Live Aquaponics, among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
Note 2: As the novel coronavirus (COVID-19) continues to spread across the world, our analysts are constantly tracking the impact of this rapidly evolving situation on the markets and the consumer purchase behaviours. Thus, our latest estimates and analysis about the current market trends and forecast will exhaustively reflect the effects of this emerging pandemic.
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