Shrimps are crustaceans and belong to the large group of arthropods. Like most seafood, shrimps are consumed for their nutritional and health benefits as they are a unique source of antioxidant and anti-inflammatory carotenoid nutrient astaxanthin. There is a huge demand for fresh as well as frozen shrimps in the global market. During 2014-2018, the global shrimp production market grew at a CAGR of around 3%. The market is currently being driven by a high nutritional value of shrimps along with an increasing demand for cosmopolitan food. This report by Expert Market Research, entitled “Shrimp Market Report and Forecast 2019 – 2024”, provides a comprehensive analysis for anyone who plans to foray into the shrimp market.
Historical market trends for the shrimp industry have been provided from 2014-2018 and forecasts have been presented till 2024. On a regional level, Asia currently represents the largest market, with China leading in shrimp production followed by Vietnam, India and Indonesia. On the basis of species type, the global shrimp market has been segmented as Penaeus Vannamei (or White-leg shrimp), Penaeus Monodon (or Black Tiger Shrimp), Macrobrachium Rosenbergii and others. For each of the species, the report has provided both historical and future market trends. Additionally, the report has analyzed the global shrimp market on the basis of its size. Currently, the market is moving towards the production of smaller shrimp sizes (51-60 and smaller) since 2010. This shift to smaller shrimp has been driven by narrowing price margins between the small sizes and the larger counts.
The value chain analysis of shrimp processing, encompassing all the activities such as procurement, manufacturing, sales and distribution, has also been covered in this report. Furthermore, the study assesses the market based on Porter’s five forces model, which evaluates the level of competition in the market by analyzing factors such as bargaining power of buyers and suppliers, threat from substitutes and new entrants. A thorough evaluation of the competitive landscape of the shrimp industry has also been provided. Some of the key players in this market include Mazzetta Company, LLC, Carson and Co., Ma Yo Foods Co., United European Seafood Traders, Ltd, etc.
This report provides an exhaustive insight for setting-up and running a shrimp processing plant. Factors such as land requirement, construction requirement, raw material requirement, labor requirement, machinery requirement, manufacturing process, utility requirement, total capital investment, total operating costs, prices, income projections, expenditure projections, profit margins, net present value, return on investment, payback period, etc. have been comprehensively covered in this report.
The following are the key questions answered by this report:
- What are the market trends for the global shrimp market?
- Which are the biggest markets (regions) for shrimp?
- What are the major types of shrimp? Which are the most popular?
- Who are the key processors in the shrimp market?
- What are the land and construction requirements to start a shrimp processing plant?
- What are the machinery requirements to start a shrimp processing plant?
- How are shrimp priced? What are the profit margins at various stages of the supply chain?
- What is the total capital investment required to start a shrimp processing plant?
- What are the running costs of a shrimp processing plant?
- How much revenue can a shrimp processing plant generate?
In order to prepare this research report, Expert Market Research conducted face to face and telephonic interviews with numerous industry participants in the shrimp industry. They included manufacturers, distributors, end users, consultants, marketing professionals, researchers, etc. Primary research accounted for the bulk of the research efforts, complimented by an extensive secondary research. Secondary sources included annual reports, press releases, books, journals, white papers, newspapers, magazines, government sources and various proprietary databases.
Expert Market Research uses its comprehensive database of macroeconomic and industry specific data to produce its market forecasts. The initial baseline forecast is produced with the most recent market data. After an initial baseline forecast, all future macroeconomic and sector specific events and assumptions are taken into account to generate the final forecast.