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The numerous health and nutritional benefits offered by shrimp are leading to its increased consumption in Europe, thus, driving the industry growth. As shrimp is an excellent source of protein and a moderate source of omega-3 fats, the increasing demand for protein-rich and healthy foods is expected to favour the growth of the shrimp industry in Europe. Being carbohydrate-free, shrimp also promotes weight loss. Further, astaxanthin is found in shrimp, which is a carotenoid nutrient that acts as a potent antioxidant, protecting skin from premature ageing. Shrimp also contains selenium, which promotes healthy muscle metabolism by activating the necessary enzymes. Selenium is also known to activate the enzymes that prevent cancer growth. All these factors are driving the demand for shrimp in the region.
Moreover, there has been a rise in demand for ready-to-eat and packaged food products, which is significantly boosting the sales of value-added and convenient shrimp products. The various shrimp products available in the market comprise of cooked, breaded, and canned products, among others. The easy availability of such products, including shrimp paste, chips, and pickle through retail channels like Walmart Inc (NYSE: WMT) and Amazon.com, Inc. (NASDAQ: AMZN) is further boosting the sales of the product. The shift in consumer purchasing behaviour and the growing popularity of e-commerce platforms are expected to enhance the online sales of the product, thus, propelling the growth of the Europe shrimp industry in the forecast period.
Market Breakup by Environment, Species, Processed Product Type, Distribution Channel, Segment, and Region:
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The major players in the Europe shrimp market are Nordic Seafood A/S, Heiploeg Group, Vichiunai-RUS OOO, Liveris Afentoulis & Co., Sykes Seafoods Ltd., Shore NV, and Seamark plc, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.
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