According to the report, the global shrimp market reached a volume of 7.14 million tons in 2022. Aided by the increasing demand for seafood-rich diets and the versatility of shrimp in culinary applications worldwide, the market is projected to further grow at a CAGR of 6.40% between 2023 and 2028 to reach a volume of 10.27 million tons by 2028.
Shrimp, a popular aquatic delicacy, belongs to the group of swimming crustaceans and is predominantly harvested from both freshwater and marine environments. Esteemed for its tender texture and subtly sweet flavour, shrimp not only enjoys a prominent position in gourmet dishes but is also a rich source of proteins, omega-3 fatty acids, and essential vitamins. These health benefits make it a preferred choice for seafood enthusiasts and health-conscious consumers alike.
The surge in seafood consumption, underpinned by the rising awareness of its health advantages, predominantly propels the global shrimp market demand. As consumers progressively recognise the cardiovascular benefits and the pivotal role of omega-3 fatty acids in cognitive health, the demand for shrimp as a nutritious dietary component has amplified. Moreover, the culinary versatility of shrimp, which can be grilled, fried, steamed, or added to salads, pastas, and curries, has further endeared it to chefs and home cooks globally.
Another significant aspect influencing the shrimp market growth is its burgeoning application in processed and convenience foods. The escalating pace of urban lifestyles, paired with the increasing demand for ready-to-eat seafood products, has given rise to an array of shrimp-based offerings such as frozen shrimp, shrimp paste, and pre-cooked shrimp meals.
The extensive aquaculture practices dedicated to shrimp cultivation have also been instrumental in satisfying the global appetite. As per the shrimp market analysis, innovations in farming technologies and sustainable practices have ensured a consistent supply, addressing concerns related to overfishing and ecological imbalances. Furthermore, advancements in cold storage and transport facilities have facilitated the expansion of the market by ensuring fresh supply chains, even to regions far from coastal areas.
The rising trend of organic and responsibly farmed shrimp is creating a niche but rapidly growing segment. As consumers become more environmentally conscious, the demand for shrimp cultivated without antibiotics and in eco-friendly farms is gaining traction and adding value to shrimp market size. This shift is not only beneficial from an ecological standpoint but also promises shrimp of superior quality and taste.
These high-quality, data-driven analysis provide the essential framework for organisations seeking to make informed and strategic decisions in an increasingly complex and rapidly evolving business environment. By investing in our market research reports, you can ensure your organisation remains agile, proactive, and poised for success in today's competitive market.
Don't miss the opportunity to elevate your business intelligence and strengthen your strategic planning. Secure your organisation's future success by acquiring one of these reports today.
The analyst always strives to provide you with the latest information. The numbers in the article are only indicative and may be different from the actual report.
Shrimp, a popular aquatic delicacy, belongs to the group of swimming crustaceans and is predominantly harvested from both freshwater and marine environments. Esteemed for its tender texture and subtly sweet flavour, shrimp not only enjoys a prominent position in gourmet dishes but is also a rich source of proteins, omega-3 fatty acids, and essential vitamins. These health benefits make it a preferred choice for seafood enthusiasts and health-conscious consumers alike.
The surge in seafood consumption, underpinned by the rising awareness of its health advantages, predominantly propels the global shrimp market demand. As consumers progressively recognise the cardiovascular benefits and the pivotal role of omega-3 fatty acids in cognitive health, the demand for shrimp as a nutritious dietary component has amplified. Moreover, the culinary versatility of shrimp, which can be grilled, fried, steamed, or added to salads, pastas, and curries, has further endeared it to chefs and home cooks globally.
Another significant aspect influencing the shrimp market growth is its burgeoning application in processed and convenience foods. The escalating pace of urban lifestyles, paired with the increasing demand for ready-to-eat seafood products, has given rise to an array of shrimp-based offerings such as frozen shrimp, shrimp paste, and pre-cooked shrimp meals.
The extensive aquaculture practices dedicated to shrimp cultivation have also been instrumental in satisfying the global appetite. As per the shrimp market analysis, innovations in farming technologies and sustainable practices have ensured a consistent supply, addressing concerns related to overfishing and ecological imbalances. Furthermore, advancements in cold storage and transport facilities have facilitated the expansion of the market by ensuring fresh supply chains, even to regions far from coastal areas.
The rising trend of organic and responsibly farmed shrimp is creating a niche but rapidly growing segment. As consumers become more environmentally conscious, the demand for shrimp cultivated without antibiotics and in eco-friendly farms is gaining traction and adding value to shrimp market size. This shift is not only beneficial from an ecological standpoint but also promises shrimp of superior quality and taste.
Market Segmentation
The market can be divided based on type, species, product category, distribution channel, and region.Market Breakup by Type
- Wild Shrimp
- Farmed Shrimp
Market Breakup by Species
- Penaeus Vannamei
- Penaeus Monodon
- Macrobrachium Rosenbergii
- Others
Market Breakup by Product Category
- Peeled
- Shell-on
- Cooked
- Breaded
- Others
Market Breakup by Distribution Channel
- Hypermarkets and Supermarkets
- Convenience Stores
- Hotels and Restaurants
- Online
- Others
Market Breakup by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Competitive Landscape
The report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global shrimp market.Some of the major players explored in the report are as follows:
- Mazzetta Company, LLC
- Apex Frozen Foods Ltd.
- Seaprimexco Vietnam
- Liveris Afentoulis & Co.
- Grand Ocean Seafoods Co., Ltd
- Charoen Pokphand Foods PCL
- Grupo Iberica Congelados, S.A
- Ocean More Foods Co., Limited
- Aqua Star
- Pacific Seafood
- Santa Priscila
- Thai Union Group PCL
- Others
About the Analyst
Acquire unparalleled access to critical industry insights with our comprehensive market research reports, meticulously prepared by a team of seasoned experts. These reports are designed to equip decision-makers with an in-depth understanding of prevailing market trends, competitive landscapes, and growth opportunities.These high-quality, data-driven analysis provide the essential framework for organisations seeking to make informed and strategic decisions in an increasingly complex and rapidly evolving business environment. By investing in our market research reports, you can ensure your organisation remains agile, proactive, and poised for success in today's competitive market.
Don't miss the opportunity to elevate your business intelligence and strengthen your strategic planning. Secure your organisation's future success by acquiring one of these reports today.
The analyst always strives to provide you with the latest information. The numbers in the article are only indicative and may be different from the actual report.
Table of Contents
1 Preface2 Report Coverage - Key Segmentation and Scope4 Key Assumptions7 Opportunities and Challenges in the Market15 Value Chain Analysis20 Key Trends and Developments in the Market
3 Report Description
5 Executive Summary
6 Market Snapshot
8 Global Shrimp Market Analysis
9 North America Shrimp Market Analysis
10 Europe Shrimp Market Analysis
11 Asia Pacific Shrimp Market Analysis
12 Latin America Shrimp Market Analysis
13 Middle East and Africa Shrimp Market Analysis
14 Market Dynamics
16 Trade Data Analysis
17 Price Analysis
18 Shrimp Processing
19 Competitive Landscape
List of Key Figures and Tables
Companies Mentioned
- Mazzetta Company LLC
- Apex Frozen Foods Ltd. S.A.rimexco Vietnam
- Liveris Afentoulis & Co.
- Grand Ocean Seafoods Co. Ltd
- Charoen Pokphand Foods PCL
- Grupo Iberica Congelados
- S.A
- Ocean More Foods Co. Limited
- Aqua Star
- Pacific Seafood
- Santa Priscila
- Thai Union Group PCL
Methodology
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 172 |
| Published | October 2023 |
| Forecast Period | 2023 - 2028 |
| Estimated Market Value in 2023 | 7.53 Million Tons |
| Forecasted Market Value by 2028 | 10.27 Million Tons |
| Compound Annual Growth Rate | 6.4% |
| Regions Covered | Global |
| No. of Companies Mentioned | 12 |
