Summary of Key Points
Crayfish were once the "summer night sensation" pursued by capital, becoming popular nationwide due to their social appeal and financial backing. However, despite a 30% price drop, few people are still willing to buy them, and nearly 40% of physical stores have closed in the past year. Behind this is an oversupply caused by capital fervor, price wars that have damaged their reputation, and a shift in consumption habits from offline to online (prepared meals and fresh food e-commerce). Now, shedding their internet celebrity status, crabs are returning to being just another agricultural product, seeking new opportunities through product innovation (such as combining crabs with bento boxes or using them in prepared dishes) and advanced processing (extracting chitin from crab shells).
1. Why Don't Consumers Buy Crabs at These Low Prices?
In the past, crabs were a must-have for social gatherings, with people willing to wait hours in line. But now, farmers are desperate while consumers show little interest. The reason is simple: capital has ruined the business.
Around 2018, capital poured into the crab industry, with over 20 brands raising funds, and even real estate companies entered the market (for example, Meihao Real Estate invested 10 billion yuan in building a crab farming park). Everyone thought that since young people have active nightlife, crabs would always be in demand, forgetting the basic principle that excess supply leads to lower prices.
After the sudden increase in production, businesses started price wars: 99 yuan for 6 pounds of "miracle crab buckets" and 88 yuan for meal sets became the norm. To make small profits, some sellers used smaller crabs to fill larger containers and added extra ingredients to meet weight requirements, resulting in declining quality. After a few disappointing experiences, consumers lost their enthusiasm for crabs—what has dropped is not just the price but also the trust they once had in the product.
2. The "Cycle Curse" of Crabs: From Rare Internet Sensation to Ubiquity
Crayfish became popular because of two factors: a strong flavor that masked their natural taste (using the Xuyi Thirteen Spices recipe) and their social nature (the act of peeling crabs provided a chance for chatting). But with capital entering the picture, these advantages were compromised:
1. Lowering the barriers to farming: The "rice-crab co-cultivation" method became popular, allowing farmers to grow both rice and crabs in the same fields, expanding the industry from Hubei and Jiangsu to Sichuan and Shandong, with a production area of 30 million mu (about 20 million hectares) and an increase in output by 400,000 tons in four years.
2. Year-round availability: Breeding in Hainan, early-season crabs in southern Sichuan, and advanced greenhouse technology have made crabs available throughout the year, eliminating their scarcity and the associated premium price.
3. Changing consumption habits: Fresh food e-commerce and prepared meals deliver crabs directly to homes, making them cheaper and more convenient than buying them from physical stores. Although sales on TikTok for crab groups increased by 69% during the May Day holiday in 2026, nearly 40% of physical stores closed—people no longer need to go to stores to buy crabs.
3. The "Cooling Down" of Internet-Famous Products Is Not a Bad Thing: Only by Removing Excess泡沫 Can Real Value Be Established
Crayfish are not the first internet-famous agricultural product to experience this trend. For example, the wholesale price of Sunshine Rose grapes dropped from 150 yuan per pound in 2015 to 1-3 yuan per pound in some areas, but high-end varieties still sell for 99 yuan per box. Removing the excess foam allows products to reveal their true value.
The same is true for crabs: by shedding their labels as "social currency" and "capital favorites," the industry can operate more rationally. For instance, Qianjiang (the hometown of crabs) is now focusing on advanced processing, extracting chitin from crab shells for industrial, medical, and cosmetic uses, with a goal of reaching 51 billion yuan in processing value by 2030—a much more sustainable approach than relying on capital-driven hype.
4. The Future of Crabs: From "Nighttime Sensation" to Everyday Food
Without the internet celebrity aura, crabs have a more practical path forward:
1. Product innovation: Turning crabs into everyday dishes, such as shrimp-based bento boxes or prepackaged garlic shrimp tails delivered via cold chains. They are even collaborating with brands like Yellow Crane Tower to create cultural and tourism experiences (receiving 10,000 visitors during the May Day holiday).
2. Upstream processing: Crab shells are no longer a waste; they can be used to produce chitin with high added value, solving environmental issues and providing more stable profits for the industry.
In short, crabs are not "out of fashion"; they have just shifted from being a "capital game" to a business for ordinary people. Only by shedding their inflated reputation can they achieve long-term success.
Conclusion
The story of crabs serves as a reminder: when capital is involved, bubbles grow large, but when prices fall, products can return to their essential value. For those in the industry, the time is not to lament the fading popularity of internet sensations but to seize the opportunity to create solid products and supply chains. After all, a product that ordinary people can enjoy every day represents a truly successful business.