Shrimp Market - Global Industry Size, Share, Trends, Opportunity, & Forecast, 2020-2030

Online is the fastest growing segment, Asia-Pacific is the largest market globally

The Global Shrimp Market, valued at USD 72.16 Billion in 2024, is projected to experience a CAGR of 4.92% to reach USD 96.25 Billion by 2030. Shrimp, small marine crustaceans belonging to the infraorder Caridea, represent a significant segment of the global seafood market, valued for their nutritional profile and culinary versatility. The market's expansion is primarily driven by increasing worldwide consumer demand for high-protein, low-fat food sources, coupled with continuous advancements in aquaculture technologies that ensure consistent supply.

Key Market Drivers

The global shrimp market is significantly propelled by the rising global demand for protein-rich seafood, as consumers increasingly seek nutritious and versatile dietary options. Shrimp offers a compelling combination of high protein and low-fat content, aligning with growing health consciousness and varied culinary applications worldwide. This sustained demand underscores its importance as a staple protein source in many regions. According to the National Fisheries Institute, in 2024, shrimp remained the most consumed seafood in the U. S. in 2022, with annual per capita intake reaching 5.50 pounds.

Key Market Challenges

The global shrimp market faces considerable headwinds from the pervasive susceptibility to disease outbreaks within aquaculture operations. These outbreaks directly compromise shrimp health, leading to significant mortality rates, reduced yields, and elevated operational expenditures for farmers. The unpredictable nature of diseases such as Early Mortality Syndrome or White Spot Syndrome Virus creates substantial production instability.

Key Market Trends

Consumer demand for shrimp is increasingly shaped by preferences for products free from antibiotics and produced through organic methods. This trend reflects a broader consumer focus on health, food safety, and ethical sourcing, compelling producers to adapt their farming practices. Industrial associations are observing a shift towards enhanced animal welfare, which supports antibiotic-free cultivation; for instance, the Global Seafood Alliance reported that its certified processing plants, farms, hatcheries, and feed mills made 493 improvements addressing animal health and welfare in 2023. Responding to this market imperative, Charoen Pokphand Foods Public Company Limited received Antibiotic-Free Product Certification for seven of its shrimp farms in Thailand from SGS (Thailand) Company Limited in April 2024, demonstrating a commitment to meeting these evolving consumer expectations.

Key Market Players Profiled:

• Thai Union Group PCL
• Clearwater Seafoods
• Avanti Feeds Limited
• High Liner Foods
• Surapon Foods Public Company Limited
• Mazzetta Company, LLC
• Aqua Star
• Nordic Seafood A/S
• The Waterbase Limited
• Wild Ocean Direct

Report Scope:

In this report, the Global Shrimp Market has been segmented into the following categories:

By Type:

• Pink
• White
• Brown
• Others

By Form:

• Fresh
• Frozen

By Sales Channel:

• Food Specialty Stores
• Online
• Hypermarkets/Supermarkets
• Others

By Region:

• North America
• Europe
• Asia Pacific
• South America
• Middle East & Africa

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the Global Shrimp Market.

Available Customizations:

With the given market data, the publisher offers customizations according to a company's specific needs. The following customization options are available for the report:

• Detailed analysis and profiling of additional market players (up to five).

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