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Global Shrimp Market Size, Share, Growth, Trends, Outlook: By Type: Wild Shrimp, Farmed Shrimp; By Species: Penaeus Vannamei, Penaeus Monodon, Macrobrachium Rosenbergii, Others; By Product Category: Peeled, Shell-on, Cooked, Breaded, Others; By Distribution Channel; Regional Analysis; Competitive Landscape; 2024-2032
Global Shrimp Market Outlook
The global shrimp market reached a volume of 7.60 million tons in 2023. The market is likely to grow at a CAGR of 6.30% during 2024-2032 to attain a volume of 13.16 million tons by 2032, driven by rising demand for shrimp.
Throughout the course of the forecast period, the shrimp market expansion is anticipated to be aided by the growing adoption of environmentally friendly methods for shrimp farming. Additionally, it is anticipated that the market would expand in the upcoming years due to the increased demand for seafood items that are ready to eat. Shrimps are rich in protein, phosphorus, and selenium and have a high nutritional value. Since they are readily available and a rich source of nutrients, shrimp are therefore quite popular with consumers. This will positively influence the global shrimp market.
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Asia Pacific to Lead the Global Market for Shrimp
The Asia Pacific region has been leading the shrimp market for a significant period of time. In China, shrimp production usually begins at the end of calendar year. During this era, farmers make simple repairs to culture ponds by removing accumulated sediment, taking advantage of the sun, and cold in winter to scrub the pond completely which increases the shrimp population within the pond. Adoption of Pacific white shrimp because the prominent species by India’s growing aquaculture industry, especially within the contract farming sector, is one among the most factors, which helps India to expand more into the United States shrimp market.
Other major regions include Indonesia, Vietnam, Thailand, and Ecuador, among others. On the opposite hand, the main shrimp consuming regions are the United States, China, Europe, Japan, among others.
Shrimp: Industry Definition and Segments
Shrimp is an invertebrate marine animal, belonging to the foremost important class of crustaceans called Malacostraca. Its structure is identified by a laterally compressed and enlarged body with lengthy legs and antennae. Widely available in freshwater lakes and streams, and deep and shallow waters, it is considered to be one of the foremost commonly consumed seafood species across the planet.
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Based on type, the market has been classified into:
- Wild Shrimp
- Farmed Shrimp
On the basis of species, the market has been divided into:
- Penaeus Vannamei
- Penaeus Monodon
- Macrobrachium Rosenbergii
- Others
Based on product category, the market has been categorised into:
- Peeled
- Shell-on
- Cooked
- Breaded
- Others
The market has been classified based on the distribution channel into:
- Hypermarkets and Supermarkets
- Convenience Stores
- Hotels and Restaurants
- Online
- Others
Production by region is divided into China, India, Indonesia, Vietnam, and Ecuador, among others. Consumption by region is divided into China, United States, Europe, and Japan, among others.
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Increased Popularity of Frozen Shrimp Products to Boost the Global Market for Shrimp
The global market is primarily driven by the enormous popularity of frozen shrimp products among end users. This is often supported by the inflating income levels of the masses, the shifting lifestyle patterns, and significant improvements within the online and offline organized retail platforms. Apart from these, processed and frozen shrimp products are seldom characterized by affordable prices, easy availability, lower cooking time and elongated shelf-life. These factors have led them to realize widespread prominence across the world and are increasingly preferred by working professionals with busy schedules and hectic lifestyles. The demand for shrimp is increasing among end users and buyers because it is rich in nutritional value and low-fat protein. It contains zero carbs and is extremely low in calories. These factors make consumers incorporate shrimp in their food diet. Thus, there was an increase in shrimp production to cater to the increased demand which led to a growth in production thus raising the demand.
Shrimp is also rich in various minerals and vitamins, like iron, calcium, sodium, phosphorus, zinc, magnesium, potassium, iodine, niacin, riboflavin, thiamine, vitamin A, vitamin E, vitamin B6, and vitamin B12. All these various minerals, vitamins, and nutrients together make shrimp healthy food. Shrimp helps in preventing many health issues. It helps in preventing hair loss, maintaining healthy bones, improving memory performance, reducing menstrual cramps, eliminating bad cholesterol, and reducing the danger of occurrence of lung and prostatic adenocarcinoma. Such multiple factors are driving the worldwide shrimp industry within the forecasted period.
Key Industry Players in the Global Shrimp Market
The report gives a detailed analysis of the following key players in the global shrimp market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:
- Mazzetta Company, LLC
- Apex Frozen Foods Ltd.
- Seaprimexco Vietnam
- Liveris Afentoulis & Co.
- Grand Ocean Seafoods Co., Ltd
- Charoen Pokphand Foods PCL
- Grupo Iberica Congelados, S.A
- Ocean More Foods Co., Limited
- Aqua Star
- Pacific Seafood
- Santa Priscila
- Thai Union Group PCL
- Others
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Type |
|
| Breakup by Species |
|
| Breakup by Product Category |
|
| Breakup by Distribution Channel |
|
| Breakup by Region |
|
| Market Dynamics |
|
| Competitive Landscape |
|
| Companies Covered |
|
*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global Shrimp Market Analysis
8.1 Key Industry Highlights
8.2 Global Shrimp Historical Market (2018-2023)
8.3 Global Shrimp Market Forecast (2024-2032)
8.4 Global Shrimp Market by Type
8.4.1 Wild Shrimp
8.4.1.1 Historical Trend (2018-2023)
8.4.1.2 Forecast Trend (2024-2032)
8.4.2 Farmed Shrimp
8.4.2.1 Historical Trend (2018-2023)
8.4.2.2 Forecast Trend (2024-2032)
8.5 Global Shrimp Market by Species
8.5.1 Penaeus Vannamei
8.5.1.1 Historical Trend (2018-2023)
8.5.1.2 Forecast Trend (2024-2032)
8.5.2 Penaeus Monodon
8.5.2.1 Historical Trend (2018-2023)
8.5.2.2 Forecast Trend (2024-2032)
8.5.3 Macrobrachium Rosenbergii
8.5.3.1 Historical Trend (2018-2023)
8.5.3.2 Forecast Trend (2024-2032)
8.5.4 Others
8.6 Global Shrimp Market by Product Category
8.6.1 Peeled
8.6.1.1 Historical Trend (2018-2023)
8.6.1.2 Forecast Trend (2024-2032)
8.6.2 Shell-on
8.6.2.1 Historical Trend (2018-2023)
8.6.2.2 Forecast Trend (2024-2032)
8.6.3 Cooked
8.6.3.1 Historical Trend (2018-2023)
8.6.3.2 Forecast Trend (2024-2032)
8.6.4 Breaded
8.6.4.1 Historical Trend (2018-2023)
8.6.4.2 Forecast Trend (2024-2032)
8.6.5 Others
8.7 Global Shrimp Market by Distribution Channel
8.7.1 Hypermarkets and Supermarkets
8.7.1.1 Historical Trend (2018-2023)
8.7.1.2 Forecast Trend (2024-2032)
8.7.2 Convenience Stores
8.7.2.1 Historical Trend (2018-2023)
8.7.2.2 Forecast Trend (2024-2032)
8.7.3 Hotels and Restaurants
8.7.3.1 Historical Trend (2018-2023)
8.7.3.2 Forecast Trend (2024-2032)
8.7.4 Online
8.7.4.1 Historical Trend (2018-2023)
8.7.4.2 Forecast Trend (2024-2032)
8.7.5 Others
8.8 Global Shrimp Market by Region
8.8.1 North America
8.8.1.1 Historical Trend (2018-2023)
8.8.1.2 Forecast Trend (2024-2032)
8.8.2 Europe
8.8.2.1 Historical Trend (2018-2023)
8.8.2.2 Forecast Trend (2024-2032)
8.8.3 Asia Pacific
8.8.3.1 Historical Trend (2018-2023)
8.8.3.2 Forecast Trend (2024-2032)
8.8.4 Latin America
8.8.4.1 Historical Trend (2018-2023)
8.8.4.2 Forecast Trend (2024-2032)
8.8.5 Middle East and Africa
8.8.5.1 Historical Trend (2018-2023)
8.8.5.2 Forecast Trend (2024-2032)
9 North America Shrimp Market Analysis
9.1 Market by Type
9.2 Market by Species
9.3 Market by Product Category
9.4 Market by Distribution Channel
9.5 Market by Country
9.5.1 United States of America
9.5.1.1 Historical Trend (2018-2023)
9.5.1.2 Forecast Trend (2024-2032)
9.5.2 Canada
9.5.2.1 Historical Trend (2018-2023)
9.5.2.2 Forecast Trend (2024-2032)
10 Europe Shrimp Market Analysis
10.1 Market by Type
10.2 Market by Species
10.3 Market by Product Category
10.4 Market by Distribution Channel
10.5 Market by Country
10.5.1 United Kingdom
10.5.1.1 Historical Trend (2018-2023)
10.5.1.2 Forecast Trend (2024-2032)
10.5.2 Germany
10.5.2.1 Historical Trend (2018-2023)
10.5.2.2 Forecast Trend (2024-2032)
10.5.3 France
10.5.3.1 Historical Trend (2018-2023)
10.5.3.2 Forecast Trend (2024-2032)
10.5.4 Italy
10.5.4.1 Historical Trend (2018-2023)
10.5.4.2 Forecast Trend (2024-2032)
10.5.5 Others
11 Asia Pacific Shrimp Market Analysis
11.1 Market by Type
11.2 Market by Species
11.3 Market by Product Category
11.4 Market by Distribution Channel
11.5 Market by Country
11.5.1 China
11.5.1.1 Historical Trend (2018-2023)
11.5.1.2 Forecast Trend (2024-2032)
11.5.2 Japan
11.5.2.1 Historical Trend (2018-2023)
11.5.2.2 Forecast Trend (2024-2032)
11.5.3 India
11.5.3.1 Historical Trend (2018-2023)
11.5.3.2 Forecast Trend (2024-2032)
11.5.4 ASEAN
11.5.4.1 Historical Trend (2018-2023)
11.5.4.2 Forecast Trend (2024-2032)
11.5.5 South Korea
11.5.5.1 Historical Trend (2018-2023)
11.5.5.2 Forecast Trend (2024-2032)
11.5.6 Australia
11.5.6.1 Historical Trend (2018-2023)
11.5.6.2 Forecast Trend (2024-2032)
11.5.7 Others
12 Latin America Shrimp Market Analysis
12.1 Market by Type
12.2 Market by Species
12.3 Market by Product Category
12.4 Market by Distribution Channel
12.5 Market by Country
12.5.1 Brazil
12.5.1.1 Historical Trend (2018-2023)
12.5.1.2 Forecast Trend (2024-2032)
12.5.2 Argentina
12.5.2.1 Historical Trend (2018-2023)
12.5.2.2 Forecast Trend (2024-2032)
12.5.3 Mexico
12.5.3.1 Historical Trend (2018-2023)
12.5.3.2 Forecast Trend (2024-2032)
12.5.4 Others
13 Middle East and Africa Shrimp Market Analysis
13.1 Market by Type
13.2 Market by Species
13.3 Market by Product Category
13.4 Market by Distribution Channel
13.5 Market by Country
13.5.1 Saudi Arabia
13.5.1.1 Historical Trend (2018-2023)
13.5.1.2 Forecast Trend (2024-2032)
13.5.2 United Arab Emirates
13.5.2.1 Historical Trend (2018-2023)
13.5.2.2 Forecast Trend (2024-2032)
13.5.3 Nigeria
13.5.3.1 Historical Trend (2018-2023)
13.5.3.2 Forecast Trend (2024-2032)
13.5.4 South Africa
13.5.4.1 Historical Trend (2018-2023)
13.5.4.2 Forecast Trend (2024-2032)
13.5.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Value Chain Analysis
16 Trade Data Analysis
16.1 Major Importing Countries
16.1.1 By Volume
16.1.2 By Value
16.2 Major Exporting Countries
16.2.1 By Volume
16.2.2 By Value
17 Price Analysis
17.1 North America Historical Price Trends (2018-2023) and Forecast (2024-2032)
17.2 Europe Historical Price Trends (2018-2023) and Forecast (2024-2032)
17.3 Asia Pacific Historical Price Trends (2018-2023) and Forecast (2024-2032)
17.4 Latin America Historical Price Trends (2018-2023) and Forecast (2024-2032)
17.5 Middle East and Africa Historical Price Trends (2018-2023) and Forecast (2024-2032)
18 Shrimp Processing
18.1 Product Overview
18.2 Detailed Process Flow
18.3 Various Types of Unit Operations Involved
18.4 Mass Balance and Raw Material Requirements
19 Competitive Landscape
19.1 Market Structure
19.2 Company Profiles
19.2.1 Mazzetta Company, LLC
19.2.1.1 Company Overview
19.2.1.2 Product Portfolio
19.2.1.3 Demographic Reach and Achievements
19.2.1.4 Certifications
19.2.2 Apex Frozen Foods Ltd.
19.2.2.1 Company Overview
19.2.2.2 Product Portfolio
19.2.2.3 Demographic Reach and Achievements
19.2.2.4 Certifications
19.2.3 Seaprimexco Vietnam
19.2.3.1 Company Overview
19.2.3.2 Product Portfolio
19.2.3.3 Demographic Reach and Achievements
19.2.3.4 Certifications
19.2.4 Liveris Afentoulis & Co.
19.2.4.1 Company Overview
19.2.4.2 Product Portfolio
19.2.4.3 Demographic Reach and Achievements
19.2.4.4 Certifications
19.2.5 Grand Ocean Seafoods Co., Ltd
19.2.5.1 Company Overview
19.2.5.2 Product Portfolio
19.2.5.3 Demographic Reach and Achievements
19.2.5.4 Certifications
19.2.6 Charoen Pokphand Foods PCL
19.2.6.1 Company Overview
19.2.6.2 Product Portfolio
19.2.6.3 Demographic Reach and Achievements
19.2.6.4 Certifications
19.2.7 Grupo Iberica Congelados, S.A
19.2.7.1 Company Overview
19.2.7.2 Product Portfolio
19.2.7.3 Demographic Reach and Achievements
19.2.7.4 Certifications
19.2.8 Ocean More Foods Co., Limited
19.2.8.1 Company Overview
19.2.8.2 Product Portfolio
19.2.8.3 Demographic Reach and Achievements
19.2.8.4 Certifications
19.2.9 Aqua Star
19.2.9.1 Company Overview
19.2.9.2 Product Portfolio
19.2.9.3 Demographic Reach and Achievements
19.2.9.4 Certifications
19.2.10 Pacific Seafood
19.2.10.1 Company Overview
19.2.10.2 Product Portfolio
19.2.10.3 Demographic Reach and Achievements
19.2.10.4 Certifications
19.2.11 Santa Priscila
19.2.11.1 Company Overview
19.2.11.2 Product Portfolio
19.2.11.3 Demographic Reach and Achievements
19.2.11.4 Certifications
19.2.12 Thai Union Group PCL
19.2.12.1 Company Overview
19.2.12.2 Product Portfolio
19.2.12.3 Demographic Reach and Achievements
19.2.12.4 Certifications
19.2.13 Others
20 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Shrimp Market: Key Industry Highlights, 2018 and 2032
2. Global Shrimp Historical Market: Breakup by Type (MMT), 2018-2023
3. Global Shrimp Market Forecast: Breakup by Type (MMT), 2024-2032
4. Global Shrimp Historical Market: Breakup by Source (MMT), 2018-2023
5. Global Shrimp Market Forecast: Breakup by Source (MMT), 2024-2032
6. Global Shrimp Historical Market: Breakup by Product Category (MMT), 2018-2023
7. Global Shrimp Market Forecast: Breakup by Product Category (MMT), 2024-2032
8. Global Shrimp Historical Market: Breakup by End-Use (MMT), 2018-2023
9. Global Shrimp Market Forecast: Breakup by End-Use (MMT), 2024-2032
10. Global Shrimp Historical Market: Breakup by Distribution Channel (MMT), 2018-2023
11. Global Shrimp Market Forecast: Breakup by Distribution Channel (MMT), 2024-2032
12. Global Shrimp Historical Market: Breakup by Region (MMT), 2018-2023
13. Global Shrimp Market Forecast: Breakup by Region (MMT), 2024-2032
14. North America Shrimp Historical Market: Breakup by Country (MMT), 2018-2023
15. North America Shrimp Market Forecast: Breakup by Country (MMT), 2024-2032
16. Europe Shrimp Historical Market: Breakup by Country (MMT), 2018-2023
17. Europe Shrimp Market Forecast: Breakup by Country (MMT), 2024-2032
18. Asia Pacific Shrimp Historical Market: Breakup by Country (MMT), 2018-2023
19. Asia Pacific Shrimp Market Forecast: Breakup by Country (MMT), 2024-2032
20. Latin America Shrimp Historical Market: Breakup by Country (MMT), 2018-2023
21. Latin America Shrimp Market Forecast: Breakup by Country (MMT), 2024-2032
22. Middle East and Africa Shrimp Historical Market: Breakup by Country (MMT), 2018-2023
23. Middle East and Africa Shrimp Market Forecast: Breakup by Country (MMT), 2024-2032
24. Major Importing Countries by Volume
25. Major Exporting Countries by Volume
26. Major Importing Countries by Value
27. Major Exporting Countries by Value
28. North America Historical Price Trends and Forecast 2018-2028
29. Europe Historical Price Trends and Forecast 2018-2028
30. Asia Pacific Historical Price Trends and Forecast 2018-2028
31. Latin America Historical Price Trends and Forecast 2018-2028
32. Middle East and Africa Historical Price Trends and Forecast 2018-2028
33. Global Shrimp Market Structure
Key Questions Answered in the Report
In 2023, the global market for shrimp attained a volume of 7.60 million tons.
The market is projected to grow at a CAGR of 6.30% between 2024 and 2032.
The shrimp market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach 13.16 million tons by 2032.
The key drivers for the market include rising population, increasing demand from the food industry, growing disposable incomes, and the escalating demand for frozen shrimp products.
The rising health consciousness among the consumers and the growing awareness about the nutritious content of shrimp are the key trends in the market.
The major regions in the market are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
The major species in the market are Penaeus Vannamei, Penaeus Monodon, and Macrobrachium Rosenbergii, among others.
The animal's shell is made of chitin, a thin yet stiff exoskeleton material. They do not belong to the family of fish because they lack an inner skeleton. They belong to the same family as crabs and lobsters and have ten legs.
Prawns and shrimp are very different animals. While both shrimp and prawns are decapods, or animals with 10 legs and an external skeleton, shrimp belong to the Pleocyemata suborder and prawns to the Dendrobranchiata suborder.
The major players in the market are Mazzetta Company, LLC, Apex Frozen Foods Ltd., Seaprimexco Vietnam, Liveris Afentoulis & Co., Grand Ocean Seafoods Co., Ltd, Charoen Pokphand Foods PCL, Grupo Iberica Congelados, S.A, Ocean More Foods Co., Limited, Aqua Star, Pacific Seafood, Santa Priscila, and Thai Union Group PCL, among others.
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