Market Forecast by Countries (Saudi Arabia, UAE, Qatar, Kuwait, Oman, Bahrain and Turkey), By Species (American Lobster, Spiny Lobster, Rock Lobster, European Lobster), By Weight (0.5 – 0.75 lbs, 0.76 – 3.0 lbs, Over 3 lbs), By Product Type (Whole Lobster, Lobster Tail, Lobster Meat, Lobster Claw), By Distribution Channel (Food Service, Retail) And Competitive Landscape
Product Code: ETC080977 | Publication Date: Aug 2021 | Updated Date: Apr 2024 | Product Type: Market Research Report | |
Publisher: 6Wresearch | No. of Pages: 200 | No. of Figures: 90 | No. of Tables: 30 | |
Report Name | Middle East Lobster Market |
Forecast period | 2024-2030 |
CAGR | 5.1% |
Growing Sector | Foodย |
Middle East Lobster Market report thoroughly covers the market by countries, species, weight, product type, distribution channel. The market outlook report provides an unbiased and detailed analysis of the ongoing market trends, opportunities/high growth areas, and market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.
Middle East Lobster Market is poised for growth, contingent on its ability to harmonize increased consumer demand with environmental preservation. The surge in premium seafood consumption presents both an opportunity and a challenge, underscoring the necessity for sustainable fishing practices and the adoption of responsible sourcing to prevent overfishing and safeguard marine ecosystems. The sector's future hinges on innovative approaches, such as the development of aquaculture projects and the implementation of digital technologies for traceability, which promise to meet market demands while promoting sustainability. This strategic balance of growth, innovation, and environmental stewardship can ensure the long-term viability of the lobster market in the Middle East, benefiting both the ecological balance and the regional economy. Achieving this equilibrium requires concerted efforts from all industry stakeholders to advocate for responsible practices and continuous innovation, securing a prosperous market future that respects the delicate marine environment.
According to 6Wresearch, the Middle East Lobster Market size is projected to grow at the CAGR of 5.1 % during the forecast period of 2024-2030. One of the foremost drivers of the Middle East lobster market is the rising demand for premium seafood among consumers, particularly in luxury dining sectors and among middle to high-income populations. This demographic shift, coupled with a growing emphasis on health-conscious diets rich in high-quality proteins, underscores an increasing preference for seafood like lobster, renowned for its delicate taste and nutritional benefits. Additionally, the burgeoning hospitality and tourism industries, especially in Gulf countries such as the United Arab Emirates and Saudi Arabia, contribute significantly to the demand, with lobsters being a staple in the menus of high-end restaurants and hotels. The region's strategic efforts to diversify its economy through tourism and hospitality further amplify this demand. However, navigating this market comes with its unique set of challenges. Sustainable sourcing remains a significant concern, as the global seafood industry grapples with issues of overfishing and habitat destruction. The lobster market in the Middle East is no exception, facing pressures from both local consumption and international demands.
Ensuring a steady, sustainable supply of lobster necessitates innovative approaches, such as the cultivation of lobster through aquaculture and the implementation of stringent regulatory measures to control fishing practices. Another pressing challenge lies in the geopolitical complexities and economic fluctuations characterizing the region, which can impact trade routes, regulatory environments, and market access, thereby affecting the Middle East Lobster Market Growth. In addition to these environmental and economic concerns, the Middle East lobster market is also confronted with logistical and technological challenges. The perishable nature of lobsters necessitates advanced cold chain logistics and storage solutions to maintain freshness and quality from catch to consumer. This is further complicated by the vast distances and harsh climate conditions prevalent in the region, which can pose significant hurdles to efficient seafood distribution. Furthermore, there is a pressing need for the industry to adopt more sophisticated traceability technologies that can ensure the authenticity and sustainability of lobster products throughout the supply chain. This adoption is critical not only for meeting regulatory and consumer demands for transparency but also for combating illegal, unreported, and unregulated (IUU) fishing practices that threaten marine biodiversity and ecosystem health. Hence, confronting these challenges involves not merely adapting to but also leading in terms of technological innovation and supply chain management, ensuring that the Middle East lobster market can continue to thrive amidst these complexities.
Governments in the Middle East have been proactive in implementing policies and schemes that promote sustainable fishing practices. These include setting quotas for lobster catches, enforcing seasonal fishing bans to allow lobster populations to replenish, and supporting aquaculture projects that reduce the pressure on wild lobster populations. Additionally, some countries have introduced traceability systems to ensure the legal and sustainable origin of lobsters entering the market. These measures not only help protect the marine ecosystem but also contribute to consumer trust and confidence in the lobster market.
The Middle East lobster Industry is dominated by a few key players who have established strong supply chains and partnerships with local and international fisheries. These companies invest significant resources in maintaining high standards of quality and sustainability. Leading companies such as Dubai Lobster International, Middle East Seafood Company, and Lobster ME have been at the forefront of driving innovation in the industry, from sourcing and distribution to presenting lobsters in culinary creations that cater to the regionโs diverse tastes.
The future of the Lobster market in Middle East looks promising with an increase in demand for sustainable and high-quality seafood products. The region's affluent population, coupled with a growing trend of health-conscious consumption, presents opportunities for growth in the lobster market. Additionally, advancements in technology and logistics are making it easier to transport lobsters from source to destination, further expanding the market potential. As the Middle East continues to experience economic growth and diversification, the demand for premium seafood is expected to increase. This, combined with a greater emphasis on sustainability in the region, will drive the market towards sustainably sourced products. The Middle East lobster market is poised for continued growth and development as it meets the demands of both consumers and conservation efforts. With innovative approaches and collaboration between industry leaders, the future of the Middle East lobster market is bright.
The whole lobster segment is expected to grow in the Middle East lobster market. This can be attributed to the growing popularity of live seafood consumption, as well as the increasing demand for whole lobsters in high-end restaurants and hotels. Additionally, whole lobsters are often considered a premium product and command higher prices, making them an attractive option for suppliers and distributors. New technology developments in packaging and transportation are also making it easier to transport whole lobsters, further driving the growth of this segment.
According to Dhaval, Research Manager, 6Wresearch, the retail segment is expected to grow in the Middle East lobster market. With increasing demand for seafood and gourmet ingredients in the region, along with the rise of online food delivery services, the retail sector is projected to witness significant growth in sales of lobster products. Additionally, the availability of a wider variety of lobster products at supermarkets and specialty stores is also contributing to this growth. Furthermore, the retail segment allows for direct consumer engagement and promotions, making it a key focus for lobster suppliers and retailers. As a result, this segment is expected to continue expanding in the coming years.
The report offers a comprehensive study of the subsequent market segments:
1 Executive Summary |
2 Introduction |
2.1 Key Highlights of the Report |
2.2 Report Description |
2.3 Market Scope & Segmentation |
2.4 Research Methodology |
2.5 Assumptions |
3 Middle East Lobster Market Overview |
3.1 Middle East Regional Macro Economic Indicators |
3.2 Middle East Lobster Market Revenues & Volume, 2020 & 2030F |
3.3 Middle East Lobster Market - Industry Life Cycle |
3.4 Middle East Lobster Market - Porter's Five Forces |
3.5 Middle East Lobster Market Revenues & Volume Share, By Countries, 2020 & 2030F |
3.6 Middle East Lobster Market Revenues & Volume Share, By Species, 2020 & 2030F |
3.7 Middle East Lobster Market Revenues & Volume Share, By Weight, 2020 & 2030F |
3.8 Middle East Lobster Market Revenues & Volume Share, By Product Type, 2020 & 2030F |
3.9 Middle East Lobster Market Revenues & Volume Share, By Distribution Channel, 2020 & 2030F |
4 Middle East Lobster Market Dynamics |
4.1 Impact Analysis |
4.2 Market Drivers |
4.3 Market Restraints |
5 Middle East Lobster Market Trends |
6 Saudi Arabia Lobster Market, 2020 - 2030 |
6.1.1 Saudi Arabia Lobster Market, Revenues & Volume, By Species, 2020 - 2030 |
6.1.2 Saudi Arabia Lobster Market, Revenues & Volume, By Weight, 2020 - 2030 |
6.1.3 Saudi Arabia Lobster Market, Revenues & Volume, By Product Type, 2020 - 2030 |
6.1.4 Saudi Arabia Lobster Market, Revenues & Volume, By Distribution Channel, 2020 - 2030 |
7 UAE Lobster Market, 2020 - 2030 |
7.1 UAE Lobster Market, Revenues & Volume, By Species, 2020 - 2030 |
7.2 UAE Lobster Market, Revenues & Volume, By Weight, 2020 - 2030 |
7.3 UAE Lobster Market, Revenues & Volume, By Product Type, 2020 - 2030 |
7.4 UAE Lobster Market, Revenues & Volume, By Distribution Channel, 2020 - 2030 |
8 Qatar Lobster Market, 2020 - 2030 |
8.1 Qatar Lobster Market, Revenues & Volume, By Species, 2020 - 2030 |
8.2 Qatar Lobster Market, Revenues & Volume, By Weight, 2020 - 2030 |
8.3 Qatar Lobster Market, Revenues & Volume, By Product Type, 2020 - 2030 |
8.4 Qatar Lobster Market, Revenues & Volume, By Distribution Channel, 2020 - 2030 |
9 Kuwait Lobster Market, 2020 - 2030 |
9.1 Kuwait Lobster Market, Revenues & Volume, By Species, 2020 - 2030 |
9.2 Kuwait Lobster Market, Revenues & Volume, By Weight, 2020 - 2030 |
9.3 Kuwait Lobster Market, Revenues & Volume, By Product Type, 2020 - 2030 |
9.4 Kuwait Lobster Market, Revenues & Volume, By Distribution Channel, 2020 - 2030 |
10 Oman Lobster Market, 2020 - 2030 |
10.1 Oman Lobster Market, Revenues & Volume, By Species, 2020 - 2030 |
10.2 Oman Lobster Market, Revenues & Volume, By Weight, 2020 - 2030 |
10.3 Oman Lobster Market, Revenues & Volume, By Product Type, 2020 - 2030 |
10.4 Oman Lobster Market, Revenues & Volume, By Distribution Channel, 2020 - 2030 |
11 Bahrain Lobster Market, 2020 - 2030 |
11.1 Bahrain Lobster Market, Revenues & Volume, By Species, 2020 - 2030 |
11.2 Bahrain Lobster Market, Revenues & Volume, By Weight, 2020 - 2030 |
11.3 Bahrain Lobster Market, Revenues & Volume, By Product Type, 2020 - 2030 |
11.4 Bahrain Lobster Market, Revenues & Volume, By Distribution Channel, 2020 - 2030 |
12 Turkey Lobster Market, 2020 - 2030 |
12.1 Turkey Lobster Market, Revenues & Volume, By Species, 2020 - 2030 |
12.2 Turkey Lobster Market, Revenues & Volume, By Weight, 2020 - 2030 |
12.3 Turkey Lobster Market, Revenues & Volume, By Product Type, 2020 - 2030 |
12.4 Turkey Lobster Market, Revenues & Volume, By Distribution Channel, 2020 - 2030 |
13 Rest of Middle East Lobster Market, 2020 - 2030 |
13.1 Rest of Middle East Lobster Market, Revenues & Volume, By Species, 2020 - 2030 |
13.2 Rest of Middle East Lobster Market, Revenues & Volume, By Weight, 2020 - 2030 |
13.3 Rest of Middle East Lobster Market, Revenues & Volume, By Product Type, 2020 - 2030 |
13.4 Rest of Middle East Lobster Market, Revenues & Volume, By Distribution Channel, 2020 - 2030 |
14 Middle East Lobster Market Key Performance Indicators |
15 Middle East Lobster Market - Opportunity Assessment |
15.1 Middle East Lobster Market Opportunity Assessment, By Countries, 2020 & 2030F |
15.2 Middle East Lobster Market Opportunity Assessment, By Species, 2020 & 2030F |
15.3 Middle East Lobster Market Opportunity Assessment, By Weight, 2020 & 2030F |
15.4 Middle East Lobster Market Opportunity Assessment, By Product Type, 2020 & 2030F |
15.5 Middle East Lobster Market Opportunity Assessment, By Distribution Channel, 2020 & 2030F |
16 Middle East Lobster Market - Competitive Landscape |
16.1 Middle East Lobster Market Revenue Share, By Companies, 2023 |
16.2 Middle East Lobster Market Competitive Benchmarking, By Operating and Technical Parameters |
17 Company Profiles |
18 Recommendations |
19 Disclaimer |