Marine pollution has increased in recent decades, largely due to the proliferation of seafood processing plants and the improper disposal of their associated waste streams. The waste streams consist mainly of shells that are composed of chitin, which is the most abundant aminopolysaccharide biopolymer in nature. Recognizing the value of chitin, the potential for the valorization of crustacean waste for chitin production was explored. In this regard, biogenic crab waste was subjected to chemical-only, enzymatic–chemical, and microbial treatments for chitin production. The results were employed as inputs for process simulation as a precursor to undertaking performance assessments. This study subsequently showed that the net present values (NPVs) of the chemical-only, enzyme–chemical, and microbial chitin production pathways were GBP 118.63 million, GBP 115.67 million, and GBP 132.34 million, respectively, indicating that the microbial chitin production pathway constituted the most appropriate technology for future investment. Employing a cost–benefit (CB) analysis, the CB ratios for the chemical-only, enzymatic–chemical, and microbial approaches were determined to be 7.31, 0.45, and 0.23, respectively. These results reinforced the dominant status of the microbial approach for chitin production from crab waste as the preferred valorization strategy. This study was able to provide information regarding the implications of executing alternative scenarios for crustacean waste.