Type to search

Seafood Seafood Processing



Canadian Lobster Exports to Europe Boosted by the Elimination of Tariffs Under the Recent CETA – ResearchAndMarkets.com

Currently, the majority of lobsters are provided by Canada and the United States of America. The elimination of around 98% of the tariffs between Canada and the European Union under the recent Canada Free Trade Agreement (CETA) has been proactive in boosting Canadian lobster exports to the northern European countries as well as creating new market opportunities in the southern European countries. In line with the decreasing trade in the EU, the US and tropical exporters are turning towards the Chinese market where lobsters have become an integral part of the luxurious dining experience supported by the rising purchasing power of the middle class. Additionally, the improving economic environment in both the developed and developing regions, and recovery in some of the major markets, including Russia and Brazil, are bolstering the market growth.

Market Summary:

  • Based on the species, the market has been segmented as American lobster, spiny lobster, rock lobster and European lobster. Currently, American lobsters dominate the market, holding the largest share.
  • On the basis of weight, lobsters having weight between 0.5 lb – 0.75 lb represent the largest size. They are followed by the lobsters having a weight between 0.76 lb – 3 lb and lobsters with weight more than 3 lb.
  • Based on the product type, whole lobster represented the most popular product followed by tail, lobster meat and claw.
  • On the basis of distribution channel, food services enjoy the leading position, followed by retail sectors.
  • Region-wise, the market has been segmented into North America, Europe, Asia Pacific, Oceania and Africa. Amongst these, North America is the leading market, accounting for the majority of the market.
  • Some of the key players in the industry are East Coast Seafood, Garbo Lobster, High Liner Foods, Pescanova and Thai Union