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Global Shrimp Market to Reach 7.7 Million Tons by 2024

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"Shrimp belongs to the group of arthropods and represents one of the most popular seafoods consumed across the world. It is highly nutritious and contains copper, zinc, sodium, selenium, magnesium, iron and vitamins such as A, B6, C, E and B12. In addition, it is also a good source of the carotenoid astaxanthin which has antioxidant and anti-inflammatory properties. Shrimp offers myriad health benefits such as weight management, improved bone and brain health and lowered risk of cardiovascular disease. Owing to the aforementioned benefits, shrimp forms a vital part of various cuisines and has emerged as a high-value product among consumers. "

The global demand for shrimp has witnessed fluctuating trends during the past five years. The global shrimp production declined in 2012, primarily in the markets of China, Thailand, Vietnam and Mexico. This was due to the prevalence of EMS disease (Early Mortality Syndrome) that originated in China. Nevertheless, the market witnessed a strong rebound in the year 2014, but a minor decline in 2015. According to a new report by Expert Market Research, the global shrimp market has reached a production volume of around 5.7 Million Tons in 2018 and is further expected to reach nearly 7.7 Million Tons by 2024. One of the major factors that has proved proactive in maintaining a stable market growth is consumers’ pursuit of a healthy lifestyle. Some of the other growth inducing factors include rapid urbanisation, improved cold storage facilities as well as its easy availability.

global shrimp market

Key findings from the report:

  • Different species of shrimp are penaeus vannamei, penaeus monodon, macrobrachium rosenbergii and others. In 2018, penaeus vannamei (or white-leg shrimp) represented the species with the highest production volumes. It was followed by penaeus monodon (or black tiger shrimp), macrobrachium rosenbergii and other species.
  • Various sizes of shrimp include large size (60 and above), medium size (40-60), small size (20-40) and extra-small size (below 20). In 2018, medium size shrimps dominated the market with the majority of market share.
  • Country-wise, China exhibited a clear dominance in the market with a share of around one-third of the total global shrimp production. Some of the other major markets include Vietnam, India, Indonesia, Ecuador, Thailand and Others.
  • Being fragmented in nature, the global shrimp market is surrounded by a number of players. Some of the top players include Mazzetta Company, LLC, Ma Yo Foods Co., Ltd, United European Seafood Traders Ltd, Carson and Co., Seaprimexco Vietnam, A B Golden Seafood, Ocean More Foods Co., Limited, Afentoulis Liveris & Co., Midseas Corp, Grand Ocean Seafoods Co., Ltd, Sealicious Foods Co., Ltd, and Charoen Pokphand Foods PCL, among others.

 

Expert Market Research has analysed the global shrimp market according to species, shrimp size, country and top players:

Market breakup by Species

  • Penaeus Vannamei
  • Penaeus Monodon
  • Macrobrachium Rosenbergii
  • Others

Market breakup by Shrimp Size

  • Large Size
  • Medium Size
  • Small Size
  • Extra Small Size

Market breakup by Country

  • China
  • Vietnam
  • India
  • Indonesia
  • Ecuador
  • Thailand
  • Others

Top players

  • Mazzetta Company, LLC
  • Ma Yo Foods Co., Ltd
  • United European Seafood Traders Ltd
  • Carson and Co.
  • Seaprimexco Vietnam
  • A B Golden Seafood
  • Ocean More Foods Co., Limited
  • Afentoulis Liveris & Co.
  • Midseas Corp
  • Grand Ocean Seafoods Co., Ltd
  • Sealicious Foods Co., Ltd
  • Charoen Pokphand Foods PCL

 

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"Global Shrimp Market: Breakup by Country: China, Vietnam, India, Indonesia, Ecuador, Thailand, Others; By Species:Penaeus Vannamei, Penaeus Monodon, Macrobrachium Rosenbergii, Others; By Shrimp Size: Large Size, Medium Size, Small Size, Extra Small Size; Historical Production and Consumption (2015-2019); Production and Consumption Forecast (2020-2025); Global Shrimp Price Analysis; Global Trade Data Analysis; SWOT Analysis; Value Chain Analysis; Setting Up a Shrimp Processing Plant; Capital Investment; Operating Expenditures; Project Economics; Competitive Landscape; Events and Developments"

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