Favorable lobster, crab prices land them bigger share of US restaurant menus

Many U.S. restaurants are taking advantage of recently declining crab and plateauing lobster prices by featuring them on summer menus.

Wholesale crab prices have dropped in recent months, encouraging retail and restaurant buyers to promote it this summer, which in turn has led to higher sales. Frozen crab sales spiked 41.9 percent in May 2023 compared to the same month last year, and fresh crab sales jumped 15.4 percent, according to research firm Circana.

As for lobster, Canadian lobster tail prices spiked a few years ago but have leveled off, Sizzler Vice President of Procurement Don Henry told SeafoodSource. Mission Viejo, California, U.S.A.-based Sizzler operates 79 restaurants throughout the country and has welcomed the buyer-friendly lobster prices, according to Henry.

“[Our] customers have remained loyal to us as we have [fluctuated] the price on that item,” he said. “They understand that we serve the best steak and lobster in town – still at a great value to our competitors, and certainly better than what you could buy at retail and prepare at home. We are experts at steaming lobster tail.”

Consumers can save USD 12 (EUR 11) and more than two hours by ordering a lobster and steak meal at Sizzler instead of cooking the same meal at home, a Sizzler spokesperson said, referring to research provided exclusively to SeafoodSource. This is in addition to savings on other meal options available on the restaurant’s seafood-laden menu.

Denver, Colorado, U.S.A.-based Taco Del Mar is another restaurant featuring seasonal lobster offerings. For the fourth year running, the restaurant chain is bringing back …

Photo courtesy of Taco Del Mar