The mussel market is projected to be worth US$ 3.58 billion in 2024. The market is likely to reach US$ 5.83 billion by 2034. The Industry is expected to surge at a CAGR of 5.00% from 2024 to 2034.
Mussel extract is gaining popularity because of its possible health benefits, particularly in regions where arthritis and bone disorders are on the rise. According to common belief, it enhances bone and tissue sensitivity as well as nerve cell activity, supporting the growing trend of health-conscious consumers.
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Because of the rising demand for seafood, rising consumer awareness of the health benefits of mussels, and their versatility in a range of culinary applications, the mussel industry has been expanding significantly in recent years. Mussels are becoming a more and more popular food item on menus all around the world due to its high nutritional value and sustainable farming practices. There are market prospects for both seasoned seafood producers and more recent arrivals who want to take advantage of this expanding trend.
The global mussel market is poised to reach a valuation of $4.1 billion by 2022, projecting a steady annual growth rate of 4.6% through 2032. A dominant force in North America, the United States commands a 65% market share, eyeing a robust $6.42 billion. The surge in mussel extract’s popularity is attributed to its numerous health benefits, appealing particularly to the health-conscious demographic concerned about bone diseases and arthritis.
Key Takeaways:
- Market Value and Growth: Estimated at $4.1 billion in 2022, the mussel market anticipates a 4.6% CAGR, targeting $6.42 billion by 2032.
- US Market Dominance: The United States leads the North American market with a 65% share, showcasing a market value expected to soar during the forecast period.
- Health-Conscious Trend: Mussel extract gains traction due to its potential health perks, resonating with consumers seeking solutions for bone ailments and arthritis concerns.
- Global Demand: The market thrives on the growing worldwide demand for seafood, coupled with increased consumer awareness of mussel health benefits.
Market Dynamics:
- Segmentation: The mussels market is segmented into green mussel, black mussel markets, and application-wise into local sales and black export sales.
- Regional Impact: The global COVID-19 situation significantly influenced the local seafood market, with the mussel market now approaching pre-COVID levels.
Key Players and Market Insight:
- Top Manufacturers: Leading players include Waitaki Biosciences International Ltd., Maclab, Inc., Nature’s Path Foods, Inc., Great HealthWorks Inc., Navchetana Kendra Agra., among others.
- Future Market Insights Analysis: FMI provides unbiased analysis, presenting historical demand data and forecast statistics from 2017 to 2032.
By 2022, the mussels market is projected to be worth USD 4.1 billion, growing at a CAGR of 4.6% between 2022 and 2032. 65% of the mussel market in North America is in the United States. Throughout the anticipated period, the market is anticipated to reach a market value of USD 6.42 Bn.
Although the popularity of mussels varies by region, as ailments like arthritis and bone diseases become more prevalent, people are becoming more health conscious and choose beneficial ingredients like mussel extract. Mussels extract aids in enhancing bone and tissue sensitivity as well as nerve cell activity.
Customers’ immune systems and fertility can both be improved by using mussel extract, which boosts demand for the product. Because of the health advantages and rising customer demand for mussel extract, several businesses currently use it.
The market for mussels is fueled by the high demand for mussel extract in the animal feed manufacturing sector, which helps to improve the nutritional value of animal diets.
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Key Takeaways from Market Study
- Fish is essential in Thailand cooking and, as such, is always in high demand and this increases the demand for mussels.
- The mussel market in the U.S amounts to 65% of the North American mussel market.
- By product type, the mussels market is segmented into green mussel, black mussel markets
- According to application type, the mussels market is segmented into local sales, black export sales.
- The global COVID-19 situation had a significant impact on the local seafood market. The mussel market is quickly approaching pre-COVID levels.
“The mussel market has experienced exceptional growth in the past few years, and this trend is expected to continue in the coming years,” says a lead analyst at Future Market Insights.
Who is Winning?
Waitaki Biosciences International Ltd., Maclab, Inc., Nature’s Path Foods, Inc., Great HealthWorks Inc., Navchetana Kendra Agra., and others are some of the top manufacturers and suppliers of mussel.
Get More Valuable Insights
Future Market Insights, in its new offering, provides an unbiased analysis of the mussel market presenting historical demand data (2017-2021) and forecast statistics for the period from 2022-2032.
By Products, the Mussels Market is segmented as:
- Green Mussel
- Black Mussel
- Others
By Distribution Channel, the Mussels Market is segmented as:
- Local Sales
- Export Sales
By Region, Mussels Market is Segmented as:
- North America
- Latin America
- Europe
- Middle east and Africa
- East Asia
- South Asia
- Oceania
Frequently Asked Questions:
At what rate will the Mussels Market grow?
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About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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