Shrimp Market Key Developments and Trends Analysis

 accounted for US$ 27.3 billion in 2020 and is estimated to be US$ 59.49 billion by 2030 and is anticipated to register a CAGR of 8.2%.

A shrimp can be defined as a small-sized marine crustacean with an elongated body, typically consumed as food, hence, is of high commercial importance. Shrimp species, such as white leg shrimp, giant tiger shrimps, gulf shrimps, blue shrimps, and royal red shrimps, are the most popular varieties that are consumed all over the world. As it is a rich source of calcium, iodine, vitamin D and B3, zinc, protein, and omega-3 fatty acids, it is widely used to aid weight loss, lower blood pressure, relieve eye fatigue, improve bone and brain health, and reduce the risk of developing cardiovascular disease. Growth in the demand for seafood products is a major factor driving the market of a wide variety of shrimp species. Globally, consumers are changing their food habits by opting for healthier food products such as shrimps, salmon and tuna. Seafood is considered a healthy source of animal protein over other meat products, which is enhancing the global demand for shrimps. Growing urban population in emerging economies is driving the demand for seafood products. Moreover, the rising tendency of spending on seafood products is expected to drive the demand for various species of shrimps during the forecast period. Moreover, the setting up of a variety of food-processing plants by manufacturers in various regions is expected to boost the demand for seafood products. The regulations governing the setting up of these plants in various regions are favorable, which is likely to contribute to the growth of the species segment in the global shrimp market.

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Segmentation:

By Type

· Pink

· White

· Brown

By Source

· Hot Water

· Cold Water

By End Use

· Residential

· Commercial

By Distribution Channel

· Supermarkets& Hypermarkets

· Convenience Stores

· Specialty Stores

· Online Sales Channel

Key Player in the Shrimp Market

Cooke Aquaculture Inc., Maruha Nichiro Corp., Mazzetta Co. LLC, Rich Products Corp., Thai Union Group PCL, Surapon Foods Public Company Limited, Nippon Suisan Kaisha, Ltd., Charoen Pokphand Food PCL, and Trident Seafood's Corporation

Regional analysis

North America

o U.S

o Canada

Europe

o UK

o Germany

o Spain

o France

o Italy

o Russia

o Rest of Europe

Asia Pacific

o Japan

o India

o China

o South Korea

o Australia

o Rest of Asia-Pacific

Latin America

o Brazil

o Mexico

o Argentina

o Rest of Latin America

Middle East & Africa

o South Africa

o Saudi Arabia

o UAE

o Rest of Middle East & Africa

Frequently ask question:

What is the shrimp market?

The shrimp market refers to the global trade of shrimp, including the production, distribution, and consumption of this popular seafood product.

What is the size of the global shrimp market?

Shrimp Market is estimated to be US$ 59.49 billion by 2030 with a CAGR of 8.2% during the forecast period

What are the factors driving the growth of the shrimp market?

Increasing demand: The demand for shrimp continues to grow globally due to its popularity as a food source and its nutritional value.

Rising population and income levels: The global population is increasing, and as incomes rise, more people are able to afford to include shrimp in their diets.

Technological advancements in shrimp farming: Advancements in technology have made shrimp farming more efficient and cost-effective, leading to increased production.

Expansion of aquaculture: The growth of aquaculture has enabled shrimp producers to raise larger quantities of shrimp in a more controlled and sustainable manner.

Growth of e-commerce: The rise of e-commerce has made it easier for consumers to purchase shrimp online, increasing the availability of the product.

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