The ‘Global Oyster Market Size, Price, Share, Growth, Analysis, Report and Forecast 2023-2028’ by Expert Market Research gives an extensive outlook of the global oyster market, assessing the market on the basis of its segments like type, end use, distribution channels, and major regions.
The key highlights of the report include:
Market Overview (2018-2028)
• Forecast CAGR (2023-2028): 3.50%
The rising demand for oyster food preparation has augmented the growth of the global oyster market. The growing urban population and their increasing demands for seafood is a major driving force of this market. Furthermore, the numerous health benefits of consuming oysters like aiding weight loss, fighting bad cholesterol, and improving bone health is a major reason for the rapid expansion of this market.
The growth of the oyster market is also projected to be fuelled by the crunchy, tender, and chewy texture of oyster meat, due to the high collagen content in it, which makes it a widely-accepted seafood item. Oyster farming is a flourishing sector which is likely to expand this market in the forecast period. The shell of oysters is used as a thickening agent in some products and is increasingly being used to strengthen dough, which is surging the demand for oysters.
The demand for the Pacific Cupped type of oysters is likely to surge, owing to its well-balanced nutritional content and its ability to be sustainably grown as well as harvested. The availability of seafood and various types of oysters on the menus of a large number of restaurants has increased the demand for oysters, accelerating the growth of the oyster market.
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Oyster Industry Definition and Major Segments
Oysters are highly nutritious shellfish, belonging to the class of Bivalvia that grow in temperate and warm coastal waters. They are usually identified by their greyish-white irregular shells. Oysters have a subtle fish-flavour and are loaded with vitamin D, zinc, copper, and manganese.
On the basis of type, the market is segmented into:
• Cupped Oyster
• Pacific Cupped Oyster
• American Cupped Oyster
• Penguin Wing Oyster
Based on end use, the market is bifurcated into:
• Food Service
On the basis of distribution channel, the market is divided into:
• Supermarkets and Hypermarkets
• Convenience Stores
• Speciality Outlets
Based on region, the market is classified into:
• North America
• Asia Pacific
• Latin America
• Middle East and Africa
Oyster Market Trends
The prevailing consumer preferences for thick-shelled seafoods is bolstering the growth of the oyster market. The rising disposable incomes of the population and the heightened popularity of dishes made with oysters are the key trends observed in this market, that are leading to its steady growth. The fairly high iron in oysters makes it a suitable food item to be consumed during pregnancy and post-menstruating, when the body’s requirement for iron is high.
The increasingly hectic lifestyles of the growing working population have made it challenging for them to fulfil their basic calcium and vitamin needs. Incorporating oysters into their diet benefits them greatly by providing them with these vital nutrients, thus boosting the market demand for oysters. Apart from being consumed directly as a seafood, a wide range of innovative dishes made from oysters like sauces, vermicelli, omelettes, and ice-cream are increasing the scope of this market for future growth.
The growing availability of canned and frozen variants has led to the surging demand for oysters, owing to the busy lifestyles of consumers and the growing preference for ready-to-eat food items. Furthermore, discounts and door-to-door delivery services offered by restaurants and online food-delivery platforms are increasingly contributing to the growth of the oyster market.
Key Market Players
The major players in the global oyster market report are Ward Oyster Company, Cape Cod Oyster Company, Chatham Shellfish Company, Taylor Shellfish Farms, France Naissain and Vendée Naissain, Woodstown Bay Shellfish Ltd., East 33 Deliveries Pty Ltd, Hog Island Oyster Co., Colville Bay Oyster Co. Ltd., Hoopers Island Oyster Company, and Five Star Shellfish Inc., 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.
The report studies the latest updates in the market, along with their impact across the market. It also analyses the market demand, together with its price and demand indicators. The report also tracks the market on the bases of SWOT and Porter’s Five Forces Models.
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