The global molluscs products market was valued at USD 118.2 billion in 2022 and is projected to expand at a CAGR of 6.2% from 2023 to 2030. Growing health and wellness consciousness among consumers is driving the demand for molluscs, such as squid and oysters, as they contain high levels of minerals and vitamins. In addition, their low caloric content and high nutritional value are creating a demand among health-conscious consumers. Moreover, increasing disposable income has enabled consumers to purchase mollusc products, such as canned and frozen molluscs, and is driving the market growth.

The increasing demand for mollusc products, such as canned and frozen molluscs, has led to advances in processing and packaging technologies. This has enabled market players to provide a wide range of products, such as canned and frozen molluscs, to consumers. In addition, the increasing trend of convenience and ready-to-eat products is also aiding the market growth. For instance, in April 2021, Thai Union Group launched a new range of ready-to-eat products, including canned molluscs, as part of its effort to expand its product portfolio and reach new customers.

Furthermore, the rising popularity of cuisines featuring molluscs, such as sushi, is driving the demand for mollusc products. The growing popularity of sushi in the western region has created a significant demand for mollusc products, such as squid and octopus. Furthermore, the increasing popularity of fusion cuisine has also helped propel the demand for mollusc products. For instance, in May 2021, the U.S.-based seafood company Trident Seafoods launched a new range of sushi-inspired products, featuring frozen and canned molluscs.

The increasing number of new product launches is also aiding the market growth. For instance, in August 2021, the U.K.-based seafood company Young’s Seafood launched a new range of frozen molluscs, including squid, mussels, and scallops. In addition, the increasing demand for value-added mollusc products is driving the market. For instance, in October 2021, the U.S.-based seafood company SeaPak launched a new range of frozen value-added molluscs, including crispy fried calamari and tempura shrimp.

Moreover, the availability of mollusc products in various forms, such as frozen, canned, and fresh, is driving the market growth. The availability of these products in various forms has enabled consumers to purchase them as per their convenience. Furthermore, the rapid growth of the e-commerce industry is also driving the market growth. The availability of various offers and discounts on mollusc products on e-commerce websites is increasing the demand for these products.

The processed molluscs segment is expected to grow at the highest CAGR of 7.5% during the forecast period. The growth of the segment is majorly driven by factors such as convenience of consumption, rise in the number of restaurants, and improved packaging techniques. The increasing demand for processed molluscs in various forms, such as canned, frozen, dried, and smoked, is expected to drive the demand for processed molluscs over the forecast period. According to an article published by the University of California, in February 2020, 62% of consumers prefer ready-to-eat molluscs products. Furthermore, increasing awareness regarding the health benefits of consuming molluscs such as high protein content, low cholesterol, and omega-3 fatty acids is also driving the demand for processed molluscs.

The live molluscs segment is expected to account for the second-largest share of the market in 2022. The growing demand for live molluscs, particularly in the Asia Pacific region, is expected to drive the segment growth. According to an article published by the National Oceanic and Atmospheric Administration, in February 2020, the global demand for live molluscs is expected to increase due to the growing popularity of seafood dishes in the region. Furthermore, the convenience of purchasing live molluscs directly from the fishmongers is also expected to drive the demand for the segment in the near future.

The supermarkets and hypermarkets segment accounted for the leading share in the molluscs products market in 2022. This segment is expected to remain the largest distribution channel for molluscs products, due to the convenience and wide range of products provided by these outlets. The majority of consumers prefer to purchase molluscs products from physical stores due to the ability to touch and feel the products, compare prices, and avail promotions. In addition, the availability of ready-to-eat molluscs products in supermarkets and hypermarkets is also a key factor driving segment growth.

The online retail segment is anticipated to witness the fastest CAGR over the forecast period. The growth of this segment is attributed to the increasing preference of consumers for online shopping and the growing presence of e-commerce platforms such as Amazon, Walmart, and Target. These platforms provide an extensive range of molluscs products, coupled with attractive discounts, which is further driving the segment growth. Moreover, the convenience of online shopping and the availability of door-to-door delivery services are also anticipated to drive the segment growth over the forecast period.

The fresh molluscs segment accounted for the largest revenue share of 68.5% in the year 2022. The growing popularity of molluscs as a healthy food option among the health-conscious population is increasing the demand for fresh molluscs products. Furthermore, the increasing number of seafood restaurants and mollusc vendors offering fresh mollusc products is also driving the growth of the segment. The convenience of buying fresh molluscs has also increased the demand for the segment.

The frozen molluscs segment is anticipated to expand at the highest CAGR of 5.2% over the forecast period. The increasing demand for frozen molluscs products owing to easy storage and long shelf life is expected to propel the segment growth. Moreover, the increasing presence of frozen molluscs products in retail stores is also driving the market. For instance, in April 2020, Trident Seafoods Corporation, a US-based seafood processing company, launched a new line of frozen molluscs products including clams, mussels, and squid.

Europe is expected to be the largest contributor to the global market, with a revenue share of over 34.1% in 2022. This is attributed to the increasing demand for molluscs products in the region due to a surge in the consumption of various types of molluscs, such as clams, oysters, and mussels. In addition, the presence of several established distributors in the region has enabled the availability of molluscs products to a large number of consumers. For instance, in April 2021, the UK-based distributor, Eurofins Seafood, announced the launch of its new range of frozen molluscs products.

The Asia Pacific is expected to be the fastest-growing market in the coming years. This is attributed to the increasing consumption of molluscs products in countries, such as Japan, China, and India. In addition, the growing preference for exotic seafood dishes, such as sushi and sashimi, is expected to drive the demand for molluscs products in the region. For instance, in June 2021, the Japanese company, Ocean Gourmet, announced the launch of its new range of frozen molluscs products in its home country.

In this part of the molluscs products business plan, we will provide a detailed breakdown of all income and expense categories of the business. These forecasts include cash flow projections and capital requirements for your molluscs products business. Usually, these projections are drafted for a 5-year period.

Revenue Assumptions
The main source of revenues for a molluscs products business comes from the sales of molluscs, either fresh or processed. Other possible sources of profit include the sale of molluscs by-products, such as shells and pearls, as well as the sale of related products, such as fishing equipment and supplies.

Projecting Expenses
In this section, all the regular expenses related to keeping the molluscs products business running will be described. The list of operating expenses includes wages, maintenance and repairs, utilities, insurance policies, advertising, and others. Additionally, this section must consider the costs of raw materials and supplies needed to produce molluscs products, such as feed, equipment, and other related items.

Some of the key companies operating in the molluscs market are increasingly focusing on product launches and expansion of the distribution channel to gain prominent visibility among consumers. Some of the initiatives are:

– In September 2022, Ocean Sea Farms launched the ‘Ocean Garden’ range of molluscs, which included varieties such as clams, oysters, mussels and scallops.

– In November 2022, Harbor Seafood launched a new range of frozen molluscs, including shrimp, clams, mussels and scallops.

– In December 2022, Pacific Seafood launched the ‘Sea Bounty’ range of molluscs, which included clams, oysters, scallops and mussels.

Some of the prominent players in the molluscs market include:

– Ocean Sea Farms
– Harbor Seafood
– Pacific Seafood
– High Liner Foods
– Trident Seafoods Corporation
– Thai Union Frozen Products
– Bumble Bee Foods
– SeaPak Shrimp & Seafood
– Maruha Nichiro Corporation
– Ocean Garden Products

This report forecasts growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For this study, Grand View Research has segmented the global molluscs products market based on product, distribution channel, and region:

1. Product Outlook (Revenue, USD Million, 2017 – 2030)

– Shellfish
– Cephalopods
– Bivalves

2. Distribution Channel Outlook (Revenue, USD Million, 2017 – 2030)

– Supermarkets & Hypermarkets
– Online
– Others

3. Regional Outlook (Revenue, USD Million, 2017 – 2030)

– North America
– Europe
– Asia Pacific
– Central & South America
– Middle East & Africa

[Q]: Who are the Major Market Players in the Molluscs Products Market?
[A]: Key players in the molluscs products market include Lien Ying Chow, Kühne & Heitz, JSG Seafoods, Maruha Nichiro Corporation, Asasec, Marisco Ltd, Oceana Group Ltd., Bumble Bee Foods, LLC, Aqua Star (USA) Corp., High Liner Foods Inc., and Trident Seafoods Corporation.

[Q]: What are the Major Growth Drivers for the Molluscs Products Market?
[A]: Growing awareness about the health benefits associated with molluscs consumption and increasing demand from the growing middle-class population in emerging economies are some of the major factors driving the molluscs products market. Additionally, increasing preference for convenience foods and increasing demand for frozen and canned molluscs products are also contributing to market growth.

[Q]: What are the Different Types of Molluscs Products?
[A]: The molluscs products market is segmented into clams, oysters, squids, octopuses, and others. Of these, the squids segment dominates the market and is expected to grow at a significant rate over the forecast period.

[Q]: What is the Geographic Scope of the Molluscs Products Market?
[A]: The molluscs products market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia Pacific is expected to dominate the market and hold the largest market share over the forecast period.

[Q]: What are the Key Opportunities for the Molluscs Products Market?
[A]: Key opportunities for the molluscs products market include the introduction of new products, expanding into untapped markets, and increasing mergers & acquisitions. Additionally, focus on research & development and the introduction of innovative packaging solutions are also expected to be major opportunities for the molluscs products market.