The global lobster market growth was valued at USD 8.3 Billion in 2024 and is projected to reach USD 16.5 Billion by 2033, growing at a CAGR of 8% during 2025-2033. The industry is driven by rising consumer demand for high-quality seafood, sustainability initiatives like MSC certifications, and growth in e-commerce seafood sales. North America holds over 48% of the market share in 2024, supported by established fisheries and expanding fine dining sectors.

Study Assumption Years

• Base Year: 2024

• Historical Year/Period: 2019-2024

• Forecast Year/Period: 2025-2033

Lobster Market Key Takeaways

• Current Market Size: USD 8.3 Billion in 2024

• CAGR: 8% (2025-2033)

• Forecast Period: 2025-2033

• North America dominates with over 48% market share in 2024, driven by strong domestic consumption and exports.

• American lobster is the largest species segment, holding around 43.3% market share in 2024.

• Whole lobster leads by product type with 72.8% market share due to premium demand.

• Food service channels hold 81.7% of distribution, reflecting high usage in fine dining and luxury hotels.

• Online retail and direct-to-consumer sales are rapidly expanding, boosted by technological and pandemic-related trends.

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Market Growth Factors

The lobster market growth is mainly the result of increasing consumer demand for good-quality seafood, which is facilitated by rising disposable incomes and the increased number of luxury restaurants. The trend of high-protein, low-fat diets that consumers follow is one of the factors that work in favor of lobster consumption as they aim at getting healthier and nutrient-rich food. In addition to that, the popularity of the hospitality and food service industries is on the rise, lobster being one of the items most often featured in gourmet menus and luxury seafood platters. 

On the other hand, sustainability initiatives are the main factors that contribute to the market expansion. For example, the Marine Stewardship Council (MSC) certification has been on a steady rise, with 28 lobster fisheries in North America being MSC certified by 2020. This dedication to the environment is what is attracting green consumers who are ready to pay, on average, 9.7% more for products that are sourced sustainably, thereby increasing demand and industry stability. 

One of the lobster market changes includes technology-related factors such as e-commerce, cold chain technologies, and traceability systems, that have been instrumental. For example, online seafood sales in the U.S. were up by 99% in 2020. These factors make the product more accessible as they allow direct-to-consumer deliveries, increase the market reach, and enable real-time consumer engagement. At the same time, innovations in aquaculture and implementation of sustainable fishing practices assure supply stability, hence, they are attractive to modern consumers.

Market Segmentation

Species:

• American Lobster: Largest species segment with 43.3% market share in 2024, known for superior taste and wide availability along North America's Atlantic coast.

• Spiny Lobster

• Rock Lobster

• European Lobster

Weight:

• 0.5 - 0.75 lbs: Leading segment with 42.4% share in 2024, preferred for tenderness and culinary versatility.

• 0.76 - 3.0 lbs

• Over 3 lbs

Product Type:

• Whole Lobster: Dominant product type with 72.8% market share in 2024 due to freshness and premium demand.

• Lobster Tail

• Lobster Meat

• Lobster Claw

Distribution Channel:

• Food Service: Accounts for 81.7% of the market share in 2024, driven by demand from fine dining, luxury hotels, and specialty seafood venues.

• Retail

Regional Insights

North America is the dominant region with over 48% market share in 2024, led by the United States, which accounts for 91.60% of North America's share. The U.S. lobster industry benefits from robust domestic consumption, strong export demand, and established fisheries along the New England and Maine coasts. Lobsters hold cultural significance and are widely available in seafood markets and restaurants, supporting sustained market growth.

Recent Developments & News

• January 2025: Australia launched its first onshore lobster farming facility at Toomulla Beach, Townsville, nurturing 90,000 Tropical Rock Lobsters, creating a sustainable aquaculture initiative.

• November 2024: Sea Grant’s American Lobster Initiative received USD 5.4 Million funding to support research on lobster growth, distribution, and ecosystem impacts.

• March 2024: Aquamar introduced new sustainable shellfish products including Wild Red Shrimp in Lobster Sauce and baby clams at Seafood Expo North America.

• September 2024: Red Lobster’s restaurant chain acquisition was approved by court as part of Chapter 11 restructuring, backed by Fortress Investment Group with USD 60 Million in new funding.

Key Players

• Boston Lobster

• Clearwater Seafoods

• East Coast Seafood Group

• Geraldton Fishermen’s Co-operative

• High Liner Foods Incorporated

• PESCANOVA ESPAÑA SL

• Supreme Lobster

• Tangier Lobster

• Thai Union Manufacturing Company Ltd.

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