Several technical advances in primary lobster producing countries are being witnessed to keep stocks of highly priced delicacy sustainable for future generations. As such, surge in the development of hatchery techniques to improve fisheries has upped in the recent past. As live lobster is an invaluable export commodity, significant time and effort have been given to develop the overland, storage methods and airfreight transport system to assure goods reaches consumer or restaurant in prime condition. These insights are according to the intelligence report, titled, "Global Lobster Market, by Species, Importing and Exporting Countries, Forecast," which has been freshly added to Market Research Hub’s (MRH) overarching repository.
Processed lobster market has developed considerably with preeminent companies vying to make lobster products more easily accessible to the consumer. Meat selection packs in attractive packaging and simple processes such as ready-cracked claws have led to an upsurge in demand. Considerable efforts are being made to assure the species reaches destination alive given live lobster churns out the highest price. Nonetheless, lobster aquaculture is in a nascent stage.
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According to FAO, the US and the Canadian landings of American lobster have risen steadily over the past half a decade. With demand in China soaring rapidly, increase in supplies has had subtle effect on prices.
According to Census Bureau Statistics, the US state Maine exported goods of all type worth $204 million to China in 2018, thereby making it second only to Canada’s exports of $1.4 billion. Meanwhile, trade war between the U.S. and China have hit China—the fastest growing market for Maine’s live lobster—hard by 84% in 2019. In light of it, the Maine lobster market is switching to Vietnam and Thailand. Companies are shipping lobsters from Nova Scotia and opening operations in Canada as the country remains unflustered by the US-China trade war.
Lobster Market: Report Synopsis
Quantitative and qualitative assessment exhort intelligence and overarching report on the lobster market. Further, the report thoroughly delineates various aspects of the market that will potentially have considerable influence on the development of the lobster market. As such, those aspects incorporate drivers, trends, restraints, and opportunities. Furthermore, the report elucidates segregation of the market that provides an exhaustive analysis on lobster.
An insightful and deep-dive assessment of the competitive assessment of the lobster market pins hope on Porters’ Five Force Analysis. Accordingly, the Porters’ Five Force Analysis offers a pressing analysis on the potential strategies of the preeminent players in the lobster market. In addition, the business strategies counts on company overview, product portfolio, SWOT analysis, key differentiation and recent development.
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Lobster Market: Research Methodology
Primary sources and secondary sources propel intelligence report on lobster market that provide deep dive analysis on the market. As such, the report provides reliable and unbiased projections, and assessments which have palpable impact on the market size and historical data. Besides, the report also counts on primary sources which hinges upon in-depth and intelligent analysis from well-grounded and reliable experts, telephonic interview, and a thorough assessment from surveys and seasoned analyst. Report on lobster market further acknowledges secondary sources—namely—Factiva, EC filing, press release, trade journals, resourceful database and governmental websites.
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