United States Shrimp Market to Grow at a CAGR of 2.4% During 2024-2032, Aided by the Growing Demand for Ready-To-Cook or Frozen Shrimps and the Expanding Aquaculture Sector

In the United States, shrimp holds a significant share of the seafood market, accounting for approximately 25%-30% of total seafood consumption. In 2021, on average 5.9 pounds of shrimp were consumed in the country, marking a growth of 0.90 pounds from the previous year.

The majority of the shrimp consumed in the US is imported from South Asian and Latin American countries. The United States shrimp market is supported by health-conscious consumers. Shrimp's nutritional richness and widespread availability make it a crucial element in diverse cuisines and a highly traded seafood species. Shrimp is a staple ingredient in various dishes such as shrimp cocktails, seafood gumbo, noodle soups, and dumplings, reflecting its widespread integration into American cuisine.

In addition, the rise of aquaculture in the United States is having a positive effect on the shrimp market. Texas is the largest producer of farmed shrimp in the country, having produced approximately 3.2 million pounds in 2017. Alabama comes in second place, having produced 304,572 pounds in the same year.

Further, increasing focus on ready-to-cook and frozen products due to hectic lifestyles is aiding the market growth. Several companies are venturing into launching new products to support the growth of ready-to-eat shrimps. For instance, in August 2023, Prime Shrimp launched a new Orleans-style BBQ flavour frozen sauced shrimp. The company also added soy ginger flavour to the line of frozen sauced shrimp in February 2024.

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Market Breakup by Environment, Species, Product Category, Distribution Channel, and Production and Imports:

• The market is segmented based on environment into farming and processing.

• Based on species, the market is segmented into penaeus vannamei, penaeus monodon, and macrobrachium rosenbergii, among others.

• By product category, the market is segmented into peeled, shell-on, cooked, and breaded, among others.

• Based on the distribution channel, the market can be divided into hypermarkets and supermarkets, convenience stores, hotels and restaurants, and online stores, among others.

• Based on production and imports, the market is divided into domestic production and imports.

Key Findings of the Report:

• Shrimp is one of the most popular sea foods in the country due to its affordability, health benefits, and great taste. It is used in a myriad of dishes ranging from staple to gourmet.

• A growing sedentary lifestyle is enhancing the demand for shrimps with an increasing focus on ready-to-eat shrimp products. Companies are capitalizing on this trend by launching new flavours and products.

• Rising aquaculture is supporting the production of high-quality seafood, including shrimps. States like Taxes and Alabama are among the leaders in shrimp aquaculture.

Key Offerings of the Report:

• The EMR report gives an overview of the United States shrimp market for the periods (2018-2023) and (2024-2032).

• The report also offers historical (2018-2023) and forecast (2024-2032) market information for the environment, species, product category, distribution channel, and production and imports of shrimp.

• The report analyses the market dynamics, covering the key demand and price indicators in the market, along with providing an assessment of the SWOT and Porter’s Five Forces models.

The major players in the United States shrimp market are Aqua Star, Harbor Seafood, Eastern Fish Company, and Mazzetta Company, LLC, 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.

Key Highlights of the Report

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