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Shrimp Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

  • ID: 5238781
  • Report
  • January 2021
  • Region: Global
  • 87 Pages
  • Mordor Intelligence
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The global shrimp market was valued at USD 39.24 million in 2019 which is projected to grow at a CAGR of 1.5% during the forecast period. The global shrimp market recorded a volume of 4207.89 thousand metric tons in 2019, projected to grow at an estimated CAGR of 1.4%, during the forecast period. The shrimp market is driven by various factors such as the escalating demand due to the increasing health benefits offered by shrimps, increase in adoption of new environmentally friendly production techniques and contract farming & government policies driving the market. Shrimp species, such as white leg shrimp, giant tiger shrimps, gulf shrimps, blue shrimps, and royal red shrimps, are the most popular varieties that are consumed all over the world. The rise in the demand for shrimps during covid-19 owing to the fact that it boosts immunity has led to the growth in the overall shrimp market. Shrimps contain selenium, which is an antioxidant that helps in maintaining a healthy immune system. Thus, there was a rise in consumption owing to the fact that it will aid in fighting covid-19.

Key Market Trends

Increased Shrimp Production due to Health Benefits

The demand for shrimp is increasing among consumers, as it is high in nutritional value and low-fat protein. It contains zero carbs and is very low in calories. One gram of shrimp accounts approximately for one calorie. These factors make people include shrimp in their food diet. Thus, there was a rise in shrimp production in order to cater to the increased demand which led to a growth in production from 4,319,876 in 2016 to 5,161,399 in 2018. Moreover, shrimp is rich in minerals and vitamins, like iron, calcium, sodium, phosphorus, zinc, magnesium, potassium, iodine, niacin, riboflavin, thiamin, vitamin A, vitamin E, vitamin B6, and vitamin B12. All the minerals, vitamins, and nutrients together make shrimp healthy food. Shrimp helps in preventing many health issues. It helps in preventing hair loss, maintaining healthy bones, improving memory performance, reducing menstrual cramps, eliminating bad cholesterol, and reducing the risk of occurrence of lung and prostate cancer.

Moreover, shrimp is a beneficial source of protein and vitamin D, without adding carbohydrates to the consumers’ daily intake; so for people determined to lose weight, this simple form of seafood is a popular option. The high levels of zinc found in shrimp are also beneficial since zinc is one way to increase leptin levels in the body, which regulates fat storage, appetite, and overall energy use in the body and maintains the strength of the hair. By increasing the levels of leptin in the body, consumers can avoid common issues, like overeating, inexplicable cravings for food after being “full”, and similar problems for weight-conscious individuals.

Asia-Pacific Leads the Shrimp Market

Asia-Pacific has been leading the shrimps market for a long period of time. The production of shrimp in China 1,956.9 thousand metric tons in 2018, registering a CAGR of 1.6% during the forecast period. In China, shrimp production generally begins at the end of the calendar year. During this period, farmers make simple repairs to culture ponds by removing accumulated sediment, taking advantage of the sun, and cold in winter to clean the pond completely which increases the shrimp population in the pond. Adoption of Pacific white shrimp as the prominent species by India’s growing aquaculture industry, especially in the contract farming sector, is one of the main factors, which helps India to expand more into the US shrimp market.

Reasons to Purchase this report:

  • The market estimate (ME) sheet in Excel format
  • 3 months of analyst support
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1 INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study

2 RESEARCH METHODOLOGY

3 EXECUTIVE SUMMARY

4 MARKET DYNAMICS
4.1 Market Overview
4.2 Shrimp Market Drivers
4.3 Shrimp Market Restraints
4.4 Value Chain/Supply Chain Analysis

5 SHRIMP MARKET SEGMENTATION
5.1 United States
5.1.1 Production Analysis
5.1.2 Consumption Analysis and Market Value
5.1.3 Import Market Analysis (Volume and Value)
5.1.4 Export Market Analysis (Volume and Value)
5.1.5 Price Trends Analysis
5.2 Canada
5.2.1 Production Analysis
5.2.2 Consumption Analysis and Market Value
5.2.3 Import Market Analysis (Volume and Value)
5.2.4 Export Market Analysis (Volume and Value)
5.2.5 Price Trends Analysis
5.3 Netherlands
5.3.1 Production Analysis
5.3.2 Consumption Analysis and Market Value
5.3.3 Import Market Analysis (Volume and Value)
5.3.4 Export Market Analysis (Volume and Value)
5.3.5 Price Trends Analysis
5.4 Norway
5.4.1 Production Analysis
5.4.2 Consumption Analysis and Market Value
5.4.3 Import Market Analysis (Volume and Value)
5.4.4 Export Market Analysis (Volume and Value)
5.4.5 Price Trends Analysis
5.5 United Kingdom
5.5.1 Production Analysis
5.5.2 Consumption Analysis and Market Value
5.5.3 Import Market Analysis (Volume and Value)
5.5.4 Export Market Analysis (Volume and Value)
5.5.5 Price Trends Analysis
5.6 China
5.6.1 Production Analysis
5.6.2 Consumption Analysis and Market Value
5.6.3 Import Market Analysis (Volume and Value)
5.6.4 Export Market Analysis (Volume and Value)
5.6.5 Price Trends Analysis
5.7 India
5.7.1 Production Analysis
5.7.2 Consumption Analysis and Market Value
5.7.3 Import Market Analysis (Volume and Value)
5.7.4 Export Market Analysis (Volume and Value)
5.7.5 Price Trends Analysis
5.8 Vietnam
5.8.1 Production Analysis
5.8.2 Consumption Analysis and Market Value
5.8.3 Import Market Analysis (Volume and Value)
5.8.4 Export Market Analysis (Volume and Value)
5.8.5 Price Trends Analysis
5.9 Indonesia
5.9.1 Production Analysis
5.9.2 Consumption Analysis and Market Value
5.9.3 Import Market Analysis (Volume and Value)
5.9.4 Export Market Analysis (Volume and Value)
5.9.5 Price Trends Analysis
5.10 Thailand
5.10.1 Production Analysis
5.10.2 Consumption Analysis and Market Value
5.10.3 Import Market Analysis (Volume and Value)
5.10.4 Export Market Analysis (Volume and Value)
5.10.5 Price Trends Analysis
5.11 Ecuador
5.11.1 Production Analysis
5.11.2 Consumption Analysis and Market Value
5.11.3 Import Market Analysis (Volume and Value)
5.11.4 Export Market Analysis (Volume and Value)
5.11.5 Price Trends Analysis
5.12 Brazil
5.12.1 Production Analysis
5.12.2 Consumption Analysis and Market Value
5.12.3 Import Market Analysis (Volume and Value)
5.12.4 Export Market Analysis (Volume and Value)
5.12.5 Price Trends Analysis
5.13 South Africa
5.13.1 Production Analysis
5.13.2 Consumption Analysis and Market Value
5.13.3 Import Market Analysis (Volume and Value)
5.13.4 Export Market Analysis (Volume and Value)
5.13.5 Price Trends Analysis
5.14 Egypt
5.14.1 Production Analysis
5.14.2 Consumption Analysis and Market Value
5.14.3 Import Market Analysis (Volume and Value)
5.14.4 Export Market Analysis (Volume and Value)
5.14.5 Price Trends Analysis

6 MARKET OPPORTUNITIES AND FUTURE TRENDS

7 IMPACT OF COVID-19 ON THE MARKET

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