Shrimp Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, Segmented By Type (Pink, White, Brown, Others), By Form (Fresh, Frozen), By Sales Channel (Hypermarkets/Supermarkets, Online, Food Specialty Stores, Others) By Region, By Competition, 2019-2029F

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Summary

Report Description

Forecast Period

2025-2029

Market Size (2023)

USD 69.22 Billion

CAGR (2024-2029)

4.77%

Fastest Growing Segment

Online

Largest Market

Asia Pacific

Forecast Period

USD 91.23 Billion


Market Overview

Global Shrimp Market was valued at USD 69.22 billion in 2023 and is anticipated to project robust growth in the forecast period with a CAGR of 4.77% through 2029. The global shrimp market is a dynamic and vital segment of the seafood industry, playing a crucial role in international trade and food security. Shrimp, a popular and versatile seafood item, is cultivated through aquaculture and harvested from the wild, with major producing countries including China, India, Indonesia, Vietnam, and Thailand. The market has witnessed significant growth in recent years due to increasing consumer demand for seafood, rising awareness of the health benefits associated with shrimp consumption, and the growing popularity of shrimp-based cuisines worldwide.

However, the industry faces challenges such as environmental concerns related to shrimp farming practices, disease outbreaks, and fluctuations in market prices. Sustainable aquaculture practices and certifications, such as those by the Aquaculture Stewardship Council (ASC) and the Marine Stewardship Council (MSC), are gaining prominence as consumers become more conscious of the environmental and social impact of seafood production.

Technological advancements, including improved breeding techniques and disease-resistant shrimp varieties, are contributing to increased efficiency in shrimp farming. The market is also influenced by trade policies, currency fluctuations, and global economic conditions. As the industry continues to evolve, stakeholders are focusing on innovation and sustainability to ensure the long-term viability of the global shrimp market.

Key Market Drivers

Increasing Consumer Demand

One of the primary drivers of the global shrimp market is the growing demand for seafood, particularly shrimp, among consumers worldwide. Shrimp is a highly popular and versatile seafood option, enjoyed for its delicate flavor and firm texture. The increasing awareness of the health benefits associated with seafood consumption, such as high protein content, omega-3 fatty acids, and various vitamins and minerals, has led to a rising demand for shrimp.

Changing consumer lifestyles and dietary preferences, coupled with a greater emphasis on healthy eating habits, contribute to the sustained growth in shrimp consumption. Additionally, as global incomes rise, more consumers can afford to include shrimp in their diets, further driving demand. The demand for convenient and value-added shrimp products, such as pre-cooked or ready-to-cook shrimp, also contributes to the market expansion, reflecting evolving consumer preferences for convenient and time-saving food options.

Globalization of Shrimp Supply Chain

The globalization of shrimp supply chains is a significant driver shaping the global shrimp market. As the world becomes more interconnected, shrimp production and distribution have become increasingly internationalized. Major shrimp-producing countries, such as China, India, Indonesia, Thailand, Ecuador, and Vietnam, play crucial roles in supplying shrimp to global markets.

The internationalization of shrimp supply chains has been facilitated by advancements in transportation, logistics, and communication technologies. Efficient shipping and airfreight services enable the rapid transportation of shrimp from producing countries to major consumer markets. Moreover, the development of cold chain infrastructure helps maintain the quality and freshness of shrimp during transit. This globalization allows consumers access to a diverse range of shrimp products throughout the year, mitigating seasonal variations in production and meeting the demand for shrimp regardless of geographic location.

Technological Advancements in Shrimp Farming

Technological advancements in shrimp farming have significantly influenced the global market by enhancing efficiency, sustainability, and overall production. Traditional shrimp farming has faced challenges related to disease outbreaks, environmental impact, and fluctuating market prices. However, ongoing research and development initiatives have led to the adoption of innovative practices and technologies in aquaculture.

Improved breeding techniques, selective breeding for desirable traits, and the development of disease-resistant shrimp varieties are key technological advancements contributing to increased productivity and reduced risk in shrimp farming. The use of advanced monitoring and control systems, automated feeding systems, and water quality management technologies further optimize shrimp farming operations.

Sustainable aquaculture practices, including the use of recirculating aquaculture systems (RAS) and integrated multitrophic aquaculture (IMTA), are gaining prominence. These practices aim to minimize the environmental impact of shrimp farming by reducing water usage, preventing the spread of diseases, and minimizing effluent discharge. The adoption of certification standards, such as those provided by the Aquaculture Stewardship Council (ASC) and other eco-labels, reflects the industry's commitment to environmentally friendly and socially responsible shrimp production.

Trade Liberalization and Policy Changes

Changes in trade policies and global economic conditions significantly influence the global shrimp market. Shrimp is a highly traded commodity, and policies related to tariffs, import/export regulations, and trade agreements have a direct impact on the flow of shrimp across borders. Trade liberalization initiatives, such as regional free trade agreements and the reduction of trade barriers, can stimulate the international shrimp trade.

The industry is also susceptible to trade tensions, geopolitical factors, and sanitary and phytosanitary regulations. Instances of disease outbreaks in major shrimp-producing regions can lead to temporary bans or restrictions on imports, disrupting the global supply chain. Currency fluctuations can affect the competitiveness of shrimp-exporting countries, influencing their market share and pricing dynamics.

Consumer awareness and advocacy for sustainable and responsible sourcing practices have led to the implementation of stricter regulations and certifications. Compliance with these standards becomes a driver for market access, influencing the behavior of both producers and consumers.

In conclusion, the global shrimp market is driven by a complex interplay of factors ranging from consumer preferences and technological innovations to trade policies and sustainability initiatives. Understanding these drivers is essential for stakeholders in the shrimp industry to navigate challenges, capitalize on opportunities, and contribute to the long-term sustainability of the market.


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Key Market Challenges

Disease Outbreaks and Aquaculture Health

One of the most significant challenges in the shrimp industry is the prevalence of diseases that affect shrimp stocks. Viral pathogens, such as white spot syndrome virus (WSSV), infectious hypodermal and hematopoietic necrosis virus (IHHNV), and Taura syndrome virus (TSV), can lead to mass mortalities in shrimp farms. These outbreaks not only result in significant economic losses for shrimp farmers but also pose a threat to the sustainability of aquaculture.

Disease management in shrimp farming often involves the use of antibiotics and other chemicals, raising concerns about antimicrobial resistance and environmental impact. Additionally, the spread of diseases can prompt trade restrictions, affecting the global movement of shrimp products. Efforts to develop disease-resistant shrimp varieties and implement sustainable aquaculture practices are ongoing, but the challenge of disease management remains a critical concern for the industry.

Environmental Impact and Sustainability

Shrimp farming has faced criticism for its environmental impact, particularly regarding mangrove deforestation, water pollution, and habitat destruction. Traditional shrimp farming practices often involve clearing mangrove forests to create ponds, leading to the loss of valuable ecosystems that serve as breeding grounds for various marine species and act as natural buffers against coastal erosion.

Efforts to address these concerns include the promotion of sustainable shrimp farming practices, such as the use of integrated multitrophic aquaculture (IMTA) and improved water management techniques. Certification programs, like those offered by the Aquaculture Stewardship Council (ASC), aim to encourage environmentally responsible shrimp production. Despite these initiatives, balancing the growing demand for shrimp with sustainable production practices remains a persistent challenge.

Fluctuating Market Prices

The global shrimp market is susceptible to fluctuations in market prices influenced by factors such as supply and demand dynamics, currency exchange rates, and geopolitical events. Shrimp prices can be volatile, impacting the profitability of shrimp farmers and the affordability of shrimp for consumers. Overproduction in certain regions, disease-related supply disruptions, or changes in consumer preferences can lead to significant price fluctuations.

Shrimp producers often face challenges in managing these price uncertainties, and smaller-scale farmers may be particularly vulnerable to market volatility. Diversification of products, value-added processing, and strategic market planning are some strategies employed to mitigate the impact of fluctuating prices. However, finding a balance between meeting market demands and maintaining stable incomes for producers remains an ongoing challenge.

Regulatory Complexity and Certification Standards

The global shrimp market is subject to a complex web of regulations and certification standards that vary across countries and regions. Meeting these standards, such as those related to food safety, environmental sustainability, and social responsibility, can be a daunting task for shrimp producers. Compliance with regulations often involves additional costs for implementing and maintaining quality control measures.

Certification standards, such as those set by ASC and other eco-labels, are designed to promote responsible and sustainable shrimp farming. However, the diversity of standards and the associated certification processes can create confusion and increase the administrative burden for producers. Achieving harmonization of standards and ensuring that they are practical and accessible for all players in the industry is an ongoing challenge.

Climate Change and Weather-Related Risks

Climate change poses a threat to the global shrimp industry through rising sea temperatures, extreme weather events, and changes in precipitation patterns. Shrimp farming is highly sensitive to environmental conditions, and alterations in temperature and weather patterns can impact shrimp growth rates, disease prevalence, and overall production.

Climate-related risks include the potential for increased disease outbreaks, changes in the distribution of shrimp farming zones, and the vulnerability of infrastructure to extreme weather events such as cyclones and hurricanes. Adaptation strategies, including the development of climate-resilient shrimp varieties and improved farm management practices, are crucial for addressing these challenges. However, the unpredictable nature of climate change introduces an element of uncertainty that requires ongoing vigilance and adaptation within the industry.

In conclusion, the global shrimp market confronts a diverse set of challenges ranging from health issues in aquaculture to environmental sustainability and market dynamics. Addressing these challenges requires collaborative efforts from stakeholders across the supply chain, including governments, industry associations, and consumers. Striking a balance between meeting the increasing demand for shrimp and ensuring the long-term viability of the industry necessitates ongoing innovation, responsible management practices, and a commitment to sustainability.

Key Market Trends

Rise of Sustainable and Responsible Practices

A notable trend in the global shrimp market is the increasing emphasis on sustainability and responsible aquaculture practices. Concerns over environmental impact, habitat destruction, and the use of chemicals in traditional shrimp farming have prompted a shift towards more eco-friendly approaches. Sustainable shrimp farming practices focus on minimizing the industry's ecological footprint, addressing social responsibility, and ensuring the long-term viability of shrimp production.

Certification programs such as those offered by the Aquaculture Stewardship Council (ASC) play a crucial role in promoting sustainability. Consumers are becoming more conscientious about the origin of their seafood and are actively seeking products with eco-labels that attest to environmentally friendly and socially responsible production methods. As a result, there is a growing trend among shrimp producers to adopt practices such as integrated multitrophic aquaculture (IMTA), which combines the cultivation of shrimp with other species to enhance overall sustainability and reduce environmental impact.

Technological Innovation in Shrimp Farming

The global shrimp market is witnessing a surge in technological innovations aimed at improving efficiency, productivity, and sustainability in shrimp farming. Advances in genetics, selective breeding, and biotechnology are contributing to the development of disease-resistant shrimp varieties. These innovations help mitigate the impact of disease outbreaks, a longstanding challenge in the industry.

Precision aquaculture technologies, including sensor-based monitoring systems, automated feeding, and data analytics, are gaining traction. These technologies enable shrimp farmers to optimize feed utilization, monitor water quality, and enhance overall farm management. The integration of digital technologies not only improves production outcomes but also allows for more precise resource allocation, reducing environmental impact and operational costs.

Further    more, research is ongoing in the development of alternative protein sources for shrimp feed, reducing the dependence on traditional feed ingredients like fishmeal. This trend aligns with the broader movement towards sustainable and environmentally responsible aquaculture practices.

Increasing Demand for Value-Added and Convenience Products

Consumer preferences in the global shrimp market are evolving, with a notable increase in demand for value-added and convenience products. Traditional whole shrimp or raw shrimp products are facing competition from a variety of processed and ready-to-cook options. These include pre-cooked shrimp, shrimp skewers, marinated shrimp, and other innovative, easy-to-prepare formats.

This trend is driven by changing lifestyles, where consumers, particularly in urban areas, seek convenient and time-saving meal solutions. Value-added shrimp products not only cater to these preferences but also provide opportunities for producers to differentiate their offerings and capture higher margins in the market.

Additionally, the expansion of e-commerce platforms and the growth of online grocery shopping contribute to the demand for convenience in the shrimp market. Consumers are increasingly exploring and purchasing a variety of shrimp products online, encouraging producers to diversify their product portfolios to meet these changing consumption patterns.

Global Shrimp Trade and Market Integration

The global shrimp market is experiencing increased integration and interconnectedness, with the expansion of international trade playing a pivotal role. Major shrimp-producing countries, including but not limited to China, India, Vietnam, Thailand, and Ecuador, are key players in the global market. Trade liberalization initiatives, regional trade agreements, and improved transportation infrastructure have facilitated the movement of shrimp products across borders.

Market integration allows consumers access to a diverse range of shrimp products throughout the year, helping balance seasonal variations in production. It also creates opportunities for market diversification, with producers exploring new export markets to reduce dependence on specific regions. However, this integration also exposes the industry to global market dynamics, including currency fluctuations, trade tensions, and regulatory changes.

The rise of regional trade blocs and the negotiation of trade agreements that address tariff barriers and non-tariff measures further contribute to the globalization of the shrimp market. Producers and traders are adapting to these trends by building resilient supply chains and staying informed about international market conditions.

In conclusion, the global shrimp market is characterized by trends that reflect a growing commitment to sustainability, technological innovation, changing consumer preferences, and increased market integration. As the industry evolves, stakeholders need to navigate these trends strategically to ensure the long-term success and resilience of the global shrimp market.

Segmental Insights

Sales Channel Insights

Online sales have emerged as a rapidly growing segment in the global shrimp market, reflecting changing consumer behaviors and the expanding influence of e-commerce. The convenience and accessibility offered by online platforms have fueled the demand for shrimp products, allowing consumers to explore a diverse range of options and make informed purchasing decisions. The rise of online grocery shopping and seafood marketplaces has provided a platform for producers to reach a wider audience, transcending geographical boundaries. This trend is driven by urbanization, busy lifestyles, and the desire for hassle-free shopping experiences. As the digital landscape continues to evolve, online sales are poised to play an increasingly significant role in shaping the future of the global shrimp market.

Form Insights

The frozen shrimp segment is experiencing notable growth in the global shrimp market as consumer preferences shift towards convenient and value-added seafood products. frozen shrimp, including pre-cooked, marinated, and ready-to-cook options, caters to the demand for quick and easy meal solutions in today's fast-paced lifestyles. This trend is driven by an increasing emphasis on convenience, particularly in urban areas, where consumers seek time-saving and innovative culinary options. Frozen shrimp products not only offer diverse flavors and cooking styles but also extend the shelf life of the seafood, reducing food waste. Producers are responding to this trend by expanding their product portfolios to meet the evolving tastes and preferences of consumers, making frozen shrimp a significant and growing segment within the global shrimp market.


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Regional Insights

Asia Pacific stands as the dominant region in the global shrimp market, playing a pivotal role in both production and consumption. Countries such as China, India, Thailand, Indonesia, and Vietnam are major contributors to the region's prominence. Robust aquaculture practices, favorable climatic conditions, and extensive coastal areas have positioned Asia Pacific as a primary hub for shrimp cultivation. The region not only serves as a significant supplier to international markets but also exhibits a robust domestic demand driven by a seafood-centric culinary culture. Additionally, ongoing technological advancements in shrimp farming, coupled with a well-established processing industry, further solidify Asia Pacific's position as a key driver in the global shrimp market. The region's influence is expected to continue, reflecting its pivotal role in meeting the increasing worldwide demand for shrimp.

Recent Developments

  • In June 2023, Guolian Aquatic Products, based in China, received USD 560 million in financial support from Saudi Arabia's Public Investment Fund (PIF) to expand seafood trading. The collaboration will assist Guolian Aquatic goods increase its footprint in the seafood business while also benefiting the Chinese White Shrimp industry by improving the global reputation of Chinese shrimp products.
  • In December 2023, French retailer Auchan, Danish feed manufacturer BioMar, Ecuadorian shrimp farmer Edpacif, and global NGO Earthworm Foundation partnered  to launch the eco-friendly shrimp product.

Key Market Players

  • Thai Union Group PCL
  • Clearwater Seafoods
  • Avanti Feeds Limited
  • High Liner Foods
  • Surapon Foods Public Company Limited
  • Mazzetta Company, LLC
  • Aqua Star
  • Nordic Seafood A/S
  • The Waterbase Limited
  • Wild Ocean Direct

 

By Type

 

By Form

 

By Sales Channel

 

By Region
  • Pink
  • White
  • Brown
  • Others
  • Fresh
  • Frozen
  • Food Specialty Stores
  • Online
  • Hypermarkets/Supermarkets
  • Others
  • North America
  • Europe
  • Asia Pacific
  • South America
  • Middle East & Africa

 

Report Scope:

In this report, the global shrimp market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

  •    Shrimp Market, By Type:

o   Pink

o   White

o   Brown

o   Others

  •    Shrimp Market, By Form:

o   Fresh

o   Frozen 

  •    Shrimp Market, By Sales Channel :

o   Food Specialty Stores

o   Online

o   Hypermarkets/Supermarkets

o   Others

  •    Shrimp Market, By Region:

o   North America

§  United States

§  Canada

§  Mexico

o   Europe

§  France

§  United Kingdom

§  Italy

§  Germany

§  Spain

o   Asia-Pacific

§  China

§  India

§  Japan

§  Australia

§  South Korea

§  Indonesia

o   Middle East & Africa

§  South Africa

§  Saudi Arabia

§  UAE

§  Turkey

o   South America

§  Argentina

§  Colombia

§  Brazil

Competitive Landscape

Company Profiles: Detailed analysis of the major companies presents in the Global Shrimp market.

Available Customizations:

Global Shrimp Market report with the given market data, Tech Sci Research offers customizations according to a company's specific needs. The following customization options are available for the report:

Company Information

  • Detailed analysis and profiling of additional market players (up to five).
Global Shrimp Market is an upcoming report to be released soon. If you wish an early delivery of this report or want to confirm the date of release, please contact us at [email protected]

Table of content

1.    Introduction

1.1.  Product Overview

1.2.  Key Highlights of the Report

1.3.  Market Coverage

1.4.  Market Segments Covered

1.5.  Research Tenure Considered

2.    Research Methodology

2.1.  Objective of the Study

2.2.  Baseline Methodology

2.3.  Key Industry Partners

2.4.  Major Association and Secondary Sources

2.5.  Forecasting Methodology

2.6.  Data Triangulation & Validation

2.7.  Assumptions and Limitations

3.    Executive Summary      

3.1.  Market Overview

3.2.  Market Forecast

3.3.  Key Regions

3.4.  Key Segments

4.    Voice of Customer

4.1.  Factor Influence Purchase Decision

4.2.  Customer Satisfaction

5.    Global Shrimp Market Outlook

5.1.  Market Size & Forecast

5.1.1.    By Value

5.2.  Market Share & Forecast

5.2.1.    By Type Market Share Analysis (Pink, White, Brown, Others)

5.2.2.    By Form Market Share Analysis (Fresh, Frozen)

5.2.3.    By Sales Channel Market Share Analysis (Food Specialty Stores, Online, Hypermarkets/Supermarkets, Others)

5.2.4.    By Regional Market Share Analysis

5.2.4.1.        North America Market Share Analysis

5.2.4.2.        Europe Market Share Analysis

5.2.4.3.        Asia-Pacific Market Share Analysis

5.2.4.4.        Middle East & Africa Market Share Analysis

5.2.4.5.        South America Market Share Analysis

5.2.5.    By Top 5 Companies Market Share Analysis, Others (2023)

5.3.  Global Shrimp Market Mapping & Opportunity Assessment

5.3.1.    By Type Market Mapping & Opportunity Assessment

5.3.2.    By Form Market Mapping & Opportunity Assessment

5.3.3.    By Sales Channel Market Mapping & Opportunity Assessment

5.3.4.    By Regional Market Mapping & Opportunity Assessment

6.    North America Shrimp Market Outlook

6.1.  Market Size & Forecast

6.1.1.    By Value

6.2.  Market Share & Forecast

6.2.1.    By Type Market Share Analysis

6.2.2.    By Form Market Share Analysis

6.2.3.    By Sales Channel Market Share Analysis

6.2.4.    By Country Market Share Analysis

6.2.4.1.        United States Shrimp Market Outlook

6.2.4.1.1.           Market Size & Forecast

6.2.4.1.1.1.               By Value

6.2.4.1.2.           Market Share & Forecast

6.2.4.1.2.1.               By Type Market Share Analysis

6.2.4.1.2.2.               By Form Market Share Analysis

6.2.4.1.2.3.               By Sales Channel Market Share Analysis

6.2.4.2.        Canada Shrimp Market Outlook

6.2.4.2.1.           Market Size & Forecast

6.2.4.2.1.1.               By Value

6.2.4.2.2.           Market Share & Forecast

6.2.4.2.2.1.               By Type Market Share Analysis

6.2.4.2.2.2.               By Form Market Share Analysis

6.2.4.2.2.3.               By Sales Channel Market Share Analysis

6.2.4.3.        Mexico Shrimp Market Outlook

6.2.4.3.1.           Market Size & Forecast

6.2.4.3.1.1.               By Value

6.2.4.3.2.           Market Share & Forecast

6.2.4.3.2.1.               By Type Market Share Analysis

6.2.4.3.2.2.               By Form Market Share Analysis

6.2.4.3.2.3.               By Sales Channel Market Share Analysis

7.    Europe Shrimp Market Outlook

7.1.  Market Size & Forecast      

7.1.1.    By Value

7.2.  Market Share & Forecast

7.2.1.    By Type Market Share Analysis

7.2.2.    By Form Market Share Analysis

7.2.3.    By Sales Channel Market Share Analysis

7.2.4.    By Country Market Share Analysis

7.2.4.1.        France Shrimp Market Outlook

7.2.4.1.1.           Market Size & Forecast

7.2.4.1.1.1.               By Value

7.2.4.1.2.           Market Share & Forecast

7.2.4.1.2.1.               By Type Market Share Analysis

7.2.4.1.2.2.               By Form Market Share Analysis

7.2.4.1.2.3.               By Sales Channel Market Share Analysis

7.2.4.2.        United Kingdom Shrimp Market Outlook

7.2.4.2.1.           Market Size & Forecast

7.2.4.2.1.1.               By Value

7.2.4.2.2.           Market Share & Forecast

7.2.4.2.2.1.               By Type Market Share Analysis

7.2.4.2.2.2.               By Form Market Share Analysis

7.2.4.2.2.3.               By Sales Channel Market Share Analysis

7.2.4.3.        Italy Shrimp Market Outlook

7.2.4.3.1.           Market Size & Forecast

7.2.4.3.1.1.               By Value

7.2.4.3.2.           Market Share & Forecast

7.2.4.3.2.1.               By Type Market Share Analysis

7.2.4.3.2.2.               By Form Market Share Analysis

7.2.4.3.2.3.               By Sales Channel Market Share Analysis

7.2.4.4.        Germany Shrimp Market Outlook

7.2.4.4.1.           Market Size & Forecast

7.2.4.4.1.1.               By Value

7.2.4.4.2.           Market Share & Forecast

7.2.4.4.2.1.               By Type Market Share Analysis

7.2.4.4.2.2.               By Form Market Share Analysis

7.2.4.4.2.3.               By Sales Channel Market Share Analysis

7.2.4.5.  Spain Shrimp Market Outlook

7.2.4.5.1.           Market Size & Forecast

7.2.4.5.1.1.               By Value

7.2.4.5.2.           Market Share & Forecast

7.2.4.5.2.1.               By Form Market Share Analysis

7.2.4.5.2.2.               By Type Market Share Analysis

7.2.4.5.2.3.               By Sales Channel Market Share Analysis

8.    Asia-Pacific Shrimp Market Outlook

8.1.  Market Size & Forecast      

8.1.1.    By Value

8.2.  Market Share & Forecast

8.2.1.    By Type Market Share Analysis

8.2.2.    By Form Market Share Analysis

8.2.3.    By Sales Channel Market Share Analysis

8.2.4.    By Country Market Share Analysis

8.2.4.1.        China Shrimp Market Outlook

8.2.4.1.1.           Market Size & Forecast

8.2.4.1.1.1.               By Value

8.2.4.1.2.           Market Share & Forecast

8.2.4.1.2.1.               By Type Market Share Analysis

8.2.4.1.2.2.               By Form Market Share Analysis

8.2.4.1.2.3.               By Sales Channel Market Share Analysis

8.2.4.2.     India Shrimp Market Outlook

8.2.4.2.1.           Market Size & Forecast

8.2.4.2.1.1.               By Value

8.2.4.2.2.           Market Share & Forecast

8.2.4.2.2.1.               By Type Market Share Analysis

8.2.4.2.2.2.               By Form Market Share Analysis

8.2.4.2.2.3.               By Sales Channel Market Share Analysis

8.2.4.3.        Japan Shrimp Market Outlook

8.2.4.3.1.           Market Size & Forecast

8.2.4.3.1.1.               By Value

8.2.4.3.2.           Market Share & Forecast

8.2.4.3.2.1.               By Type Market Share Analysis

8.2.4.3.2.2.               By Form Market Share Analysis

8.2.4.3.2.3.               By Sales Channel Market Share Analysis

8.2.4.4.        Australia Shrimp Market Outlook

8.2.4.4.1.           Market Size & Forecast

8.2.4.4.1.1.               By Value

8.2.4.4.2.           Market Share & Forecast

8.2.4.4.2.1.               By Type Market Share Analysis

8.2.4.4.2.2.               By Form Market Share Analysis

8.2.4.4.2.3.               By Sales Channel Market Share Analysis

8.2.4.5.        South Korea Shrimp Market Outlook

8.2.4.5.1.           Market Size & Forecast

8.2.4.5.1.1.               By Value

8.2.4.5.2.           Market Share & Forecast

8.2.4.5.2.1.               By Type Market Share Analysis

8.2.4.5.2.2.               By Form Market Share Analysis

8.2.4.5.2.3.               By Sales Channel Market Share Analysis

8.2.4.6.        Indonesia Shrimp Market Outlook

8.2.4.6.1.           Market Size & Forecast

8.2.4.6.1.1.               By Value

8.2.4.6.2.           Market Share & Forecast

8.2.4.6.2.1.               By Type Market Share Analysis

8.2.4.6.2.2.               By Form Market Share Analysis

8.2.4.6.2.3.               By Sales Channel Market Share Analysis

9.    Middle East & Africa Shrimp Market Outlook

9.1.  Market Size & Forecast      

9.1.1.    By Value

9.2.  Market Share & Forecast

9.2.1.    By Type Market Share Analysis

9.2.2.    By Form Market Share Analysis

9.2.3.    By Sales Channel Market Share Analysis

9.2.4.    By Country Market Share Analysis

9.2.4.1.        South Africa Shrimp Market Outlook

9.2.4.1.1.           Market Size & Forecast

9.2.4.1.1.1.               By Value

9.2.4.1.2.           Market Share & Forecast

9.2.4.1.2.1.               By Type Market Share Analysis

9.2.4.1.2.2.               By Form Market Share Analysis

9.2.4.1.2.3.               By Sales Channel Market Share Analysis

9.2.4.2.        Saudi Arabia Shrimp Market Outlook

9.2.4.2.1.           Market Size & Forecast

9.2.4.2.1.1.               By Value

9.2.4.2.2.           Market Share & Forecast

9.2.4.2.2.1.               By Type Market Share Analysis

9.2.4.2.2.2.               By Form Market Share Analysis

9.2.4.2.2.3.               By Sales Channel Market Share Analysis

9.2.4.3.        UAE Shrimp Market Outlook

9.2.4.3.1.           Market Size & Forecast

9.2.4.3.1.1.               By Value

9.2.4.3.2.           Market Share & Forecast

9.2.4.3.2.1.               By Type Market Share Analysis

9.2.4.3.2.2.               By Form Market Share Analysis

9.2.4.3.2.3.               By Sales Channel Market Share Analysis

9.2.4.4.        Turkey Shrimp Market Outlook

9.2.4.4.1.           Market Size & Forecast

9.2.4.4.1.1.               By Value

9.2.4.4.2.           Market Share & Forecast

9.2.4.4.2.1.               By Type Market Share Analysis

9.2.4.4.2.2.               By Form Market Share Analysis

9.2.4.4.2.3.               By Sales Channel Market Share Analysis

10. South America Shrimp Market Outlook

10.1.            Market Size & Forecast        

10.1.1. By Value

10.2.            Market Share & Forecast

10.2.1. By Type Market Share Analysis

10.2.2. By Form Market Share Analysis

10.2.3. By Sales Channel Market Share Analysis

10.2.4. By Country Market Share Analysis

10.2.4.1.     Argentina Shrimp Market Outlook

10.2.4.1.1.         Market Size & Forecast

10.2.4.1.1.1.            By Value

10.2.4.1.2.         Market Share & Forecast

10.2.4.1.2.1.            By Type Market Share Analysis

10.2.4.1.2.2.            By Form Market Share Analysis

10.2.4.1.2.3.            By Sales Channel Market Share Analysis

10.2.4.2.     Colombia Shrimp Market Outlook

10.2.4.2.1.         Market Size & Forecast

10.2.4.2.1.1.            By Value

10.2.4.2.2.         Market Share & Forecast

10.2.4.2.2.1.            By Type Market Share Analysis

10.2.4.2.2.2.            By Form Market Share Analysis

10.2.4.2.2.3.            By Sales Channel Market Share Analysis

10.2.4.3.     Brazil Shrimp Market Outlook

10.2.4.3.1.         Market Size & Forecast

10.2.4.3.1.1.            By Value

10.2.4.3.2.         Market Share & Forecast

10.2.4.3.2.1.            By Type Market Share Analysis

10.2.4.3.2.2.            By Form Market Share Analysis

10.2.4.3.2.3.            By Sales Channel Market Share Analysis

11. Market Dynamics

11.1.            Drivers

11.2.            Challenges

12. Impact of COVID-19 on Global Shrimp Market

12.1.            Impact Assessment Model   

12.1.1. Key Segments Impacted

12.1.2. Key Region Impacted

12.1.3. Key Countries Impacted

13. Market Trends & Developments

14. Competitive Landscape

14.1.            Company Profiles

14.1.1. Thai Union Group PCL

14.1.1.1.     Company Details

14.1.1.2.     Products

14.1.1.3.     Financials (As Per Availability)

14.1.1.4.     Key Market Focus & Geographical Presence

14.1.1.5.     Recent Developments

14.1.1.6.     Key Management Personnel

14.1.2. Clearwater Seafoods

14.1.2.1.     Company Details

14.1.2.2.     Products

14.1.2.3.     Financials (As Per Availability)

14.1.2.4.     Key Market Focus & Geographical Presence

14.1.2.5.     Recent Developments

14.1.2.6.     Key Management Personnel

14.1.3. Avanti Feeds Limited

14.1.3.1.     Company Details

14.1.3.2.     Products

14.1.3.3.     Financials (As Per Availability)

14.1.3.4.     Key Market Focus & Geographical Presence

14.1.3.5.     Recent Developments

14.1.3.6.     Key Management Personnel

14.1.4. High Liner Foods

14.1.4.1.     Company Details

14.1.4.2.     Products

14.1.4.3.     Financials (As Per Availability)

14.1.4.4.     Key Market Focus & Geographical Presence

14.1.4.5.     Recent Developments

14.1.4.6.     Key Management Personnel

14.1.5. Surapon Foods Public Company Limited

14.1.5.1.     Company Details

14.1.5.2.     Products

14.1.5.3.     Financials (As Per Availability)

14.1.5.4.     Key Market Focus & Geographical Presence

14.1.5.5.     Recent Developments

14.1.5.6.     Key Management Personnel

14.1.6. Mazzetta Company, LLC

14.1.6.1.     Company Details

14.1.6.2.     Products

14.1.6.3.     Financials (As Per Availability)

14.1.6.4.     Key Market Focus & Geographical Presence

14.1.6.5.     Recent Developments

14.1.6.6.     Key Management Personnel

14.1.7. Aqua Star

14.1.7.1.     Company Details

14.1.7.2.     Products

14.1.7.3.     Financials (As Per Availability)

14.1.7.4.     Key Market Focus & Geographical Presence

14.1.7.5.     Recent Developments

14.1.7.6.     Key Management Personnel

14.1.8. Nordic Seafood A/S

14.1.8.1.     Company Details

14.1.8.2.     Products

14.1.8.3.     Financials (As Per Availability)

14.1.8.4.     Key Market Focus & Geographical Presence

14.1.8.5.     Recent Developments

14.1.8.6.     Key Management Personnel

14.1.9. The Waterbase Limited

14.1.9.1.     Company Details

14.1.9.2.     Products

14.1.9.3.     Financials (As Per Availability)

14.1.9.4.     Key Market Focus & Geographical Presence

14.1.9.5.     Recent Developments

14.1.9.6.     Key Management Personnel

14.1.10. Wild Ocean Direct

14.1.10.1.  Company Details

14.1.10.2.  Products

14.1.10.3.  Financials (As Per Availability)

14.1.10.4.  Key Market Focus & Geographical Presence

14.1.10.5.  Recent Developments

14.1.10.6.  Key Management Personnel

15. Strategic Recommendations/Action Plan

15.1.            Key Focus Areas

15.2.            Target By Type

15.3.            Target By Sales Channel

16. About Us & Disclaimer

Figures and Tables

Frequently asked questions

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The market size of the Global Shrimp Market was estimated to be USD 69.22 billion in 2023

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The major drivers for the global shrimp market include increasing consumer demand for seafood, globalization of shrimp supply chains, technological advancements in shrimp farming, and trade liberalization and policy changes. These factors collectively shape the industry's growth, sustainability, and market dynamics.

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Major trends in the global shrimp market include a rise in sustainable and responsible practices, technological innovation in shrimp farming, increasing demand for value-added and convenience products, and the growing integration of global shrimp trade. These trends reflect evolving consumer preferences, industry advancements, and market dynamics.

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Major challenges for the global shrimp market encompass disease outbreaks and aquaculture health issues, environmental impact and sustainability concerns, fluctuating market prices, regulatory complexity, and certification standards. Addressing these challenges requires collaborative efforts to ensure the industry's long-term viability and sustainability.

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Parvati Sharma

Account Manager BD
Press Release

Shrimp Market to Grow with a CAGR of 4.77% Globally through 2029

Mar, 2024

The global shrimp market is growing rapidly, driven by growing popularity of seafood in general and growing demand for convenience foods are key market trends

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