Shrimp Market

Best Price Guarantee	Length	Publisher	Published Date	SKU
from $4,850	160 Pages	Fortune Business Insights Pvt. Ltd.	October, 2024	FOB19224183

Best Price Guarantee
Price	from $4,850
Length	160 Pages
Publisher	Fortune Business Insights Pvt. Ltd.
Published Date	October, 2024
SKU	FOB19224183

Shrimp Market

Growth Factors of Shrimp Market

The shrimp market size was valued at USD 40.35 billion in 2023, and the market is now projected to grow from USD 42.90 billion in 2024 to USD 74.24 billion by 2032, exhibiting a CAGR of 7.09% during the forecast period of 2024-2032.

COVID-19 impacted the shrimp market negatively and this was as a result of disruption of the supply chains and reduced demand. Confinements and limitations affected activity and outlets for the processing and manufacturing establishments in the same manner as exports were constrained due to disruptions in the supply chain. As restaurants and foodservice industries closed, consumers demanded less foodservice offerings. It witnessed volatility of prices and a transition towards the consumption domestic product. But as the economies around the world started opening up the shrimp market started growing again with special focus on the hygiene measures for making the consumer trust and stability in the supply chains.

Several of the trending activities noticeable in the shrimp market to mention include; sustainability, and traceability because consumers are becoming environmentally conscious. Technology in the practice of using land together with improvements in the use of the land in the use of fish farming is enhancing productivity and reducing negative impacts for example in form of recirculation aquaculture systems (RAS). Added to this is a shift in demand in terms of value added production for example snapper for shrimps, snacks and convenience foods. Also, there is growing popularity of online sales that increase market coverage and convenience to the customers. These trends show a transition towards better practices and increased concern towards the production and consumption of the shrimp. Thus, all the above mentioned factors are contributing towards the shrimp market growth.

The factors that have triggered change in the shrimp market include; Increased global consumption of sea food and enhanced awareness of the nutritional values of shrimp. Certain factors include better breeding techniques and farming techniques through improvement of technology in the aquaculture industry. This experience assists the availability of modern retail and on line sales channels where modernisation grows. Also, an increasing demand for sourcing of sustainable and traceable seafood expands the market growth. Market influences such as increased disposable income per capita and shifts in consumer eating habits also play a part since there is a growing concern for lean meats, Oilers says.

Comprehensive Analysis Shrimp Market

The shrimp market is also segmented by type including the pink, white, brown, and other shrimp types depending on consumers’ choice. Concerning form, shrimp can be depicted mainly in two ways that include frozen as well as canned products, which affords convenience in stock taking and preparation. Users are further divided into end-consumer residential & commercial uses; the latter comprises cooking for the family and home use, while commercial use touches on restaurants, food service industries, etc. The distribution channels are hyper markets and supermarkets, convenience stores, specialty stores and direct selling through online media this depicts the different types of shoppers and ways through which they purchase the products.

By 2023 the Asia-Pacific region dominates the market of shrimp market share. This is occasioned by leading exporters in the world such as India and Thailand which are famous in shrimp production and exportation. The climate of the region has been realized to support good practices in aquaculture farming, supply chain, and production output. Further, rising domestic absorption by the populace increase the cement firm’s strength, as well as export demand from the global market. Constant capital investments aimed at enhancing sustainable activities and new technologies indicates that Asia-Pacific remains dominant in market size, and influences trends that dictate supply.

Key players in this sector include Aqua Star Corp. (Seattle, U.S.), Avanti Feeds Ltd. (Hyderabad, India), Clearwater Seafoods Inc. (Bedford, Canada), High Liner Foods Inc. (Lunenburg, Canada), Marine Harvest (Bergen, Norway), Maruha Nichiro Corporation (Tokyo, Japan), Nippon Suisan Kaisha (Tokyo, Japan), Nordic Seafoods A/S (Hirtshals, Denmark)

The following are some of the changes observed in the shrimp market in 2023 due to the changes in the consumer behavior and development in technology. Eco-trends are important with a focus on food sustainability and use of environmentally friendly practices in farming and certification. There is an increasing demand for edged shrimp products such as ginger and George shrimp that comes with ready to eat products. Other factors that are defining the market are advanced technology in aquaculture, improved technological methods for supply chain tracking. Furthermore, the changes in the customer purchasing behavior have also been revealed by the growth of online sales channel that have made the products easily accessible to consumers in various forms of shrimp products.

Segmentation Table

ATTRIBUTE DETAILS

Study Period 2019-2032

Base Year 2023

Estimated Year 2024

Forecast Period 2024-2032

Historical Period 2019-2022

Growth Rate CAGR of 7.09% from 2024 to 2032

Unit Value (USD Billion)

Segmentation By Type

Pink
White
Brown
Other

By Form

Frozen
Canned

By End-User

Residential
Commercial

By Distribution Channel

Hypermarkets/Supermarkets
Convenience Stores
Specialty Stores
Online Sales Channels

By Geography

North America (By Type, Form, End-User, Distribution Channel, and Country)
U.S. (By End-User)
Canada (By End-User)
Mexico (By End-User)
Europe (By Type, End-User, Form, and Country)
France (By End-User)
Germany (By End-User)
U.K. (By End-User)
Italy (By End-User)
Russia (By End-User)
Rest of Europe (By End-User)
Asia Pacific (By Type, Form, End-User, Distribution Channel, and Country)
China (By End-User)
India (By End-User)
Japan (By End-User)
Australia (By End-User)
Rest of Asia Pacific (By End-User)
South America (By Type, Form, End-User, Distribution Channel, and Country)
Ecuador (By End-User)
Brazil (By End-User)
Rest of South America (By End-User)
Middle East & Africa (By Type, Form, End-User, Distribution Channel, and Country)
South Africa (By End-User)
Turkey (By End-User)
Rest of the Middle East & Africa (By End-User)

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1. Introduction: 1.1. Research Scope; 1.2. Market Segmentation; 1.3. Research Methodology; 1.4. Definitions and Assumptions
2. Executive Summary
3. Market Dynamics: 3.1. Market Drivers; 3.2. Market Restraints; 3.3. Market Opportunities; 3.4. Emerging Trends
4. Key Insights: 4.1. Overview of the Parent/Related Markets; 4.2. Supply Chain and SWOT Analysis; 4.3. Recent Industry Developments - Policies, Partnerships, New Product Launches, and Mergers & Acquisitions; 4.4. Qualitative Analysis Related to COVID-19; 4.4.1. Impact of COVID-19 on the Market; 4.4.2. Supply Chain Challenges amidst Pandemic; 4.4.3. Potential Opportunities due to this Global Crisis
5. Global Shrimp Market Analysis, Insights and Forecast, 2019-2032: 5.1. Key Findings / Summary; 5.2. Market Size Estimates and Forecast; 5.2.1. By Type; 5.2.1.1. Pink; 5.2.1.2. White; 5.2.1.3. Brown; 5.2.1.4. Others; 5.2.2. By Form; 5.2.2.1. Frozen; 5.2.2.2. Canned; 5.2.3. By End User; 5.2.3.1. Residential; 5.2.3.2. Commercial; 5.2.4. By Distribution Channel; 5.2.4.1. Hypermarkets/Supermarkets; 5.2.4.2. Convenience Stores; 5.2.4.3. Specialty Stores; 5.2.4.4. Online Sales Channel; 5.2.5. By Region; 5.2.5.1. North America; 5.2.5.2. Europe; 5.2.5.3. Asia Pacific; 5.2.5.4. South America; 5.2.5.5. Middle East & Africa
6. North America Shrimp Market Analysis, Insights and Forecast, 2019-2032: 6.1. Key Findings / Summary; 6.2. Market Size Estimates and Forecast; 6.2.1. By Type; 6.2.1.1. Pink; 6.2.1.2. White; 6.2.1.3. Brown; 6.2.1.4. Others; 6.2.2. By Form; 6.2.2.1. Frozen; 6.2.2.2. Canned; 6.2.3. By End User; 6.2.3.1. Residential; 6.2.3.2. Commercial; 6.2.4. By Distribution Channel; 6.2.4.1. Hypermarkets/Supermarkets; 6.2.4.2. Convenience Stores; 6.2.4.3. Specialty Stores; 6.2.4.4. Online Sales Channel; 6.2.5. By Country (Value); 6.2.5.1. U.S; 6.2.5.1.1. By End-User (Value); 6.2.5.1.1.1. Residential; 6.2.5.1.1.2. Commercial; 6.2.5.2. Canada; 6.2.5.2.1. By End-User (Value); 6.2.5.2.1.1. Residential; 6.2.5.2.1.2. Commercial; 6.2.5.3. Mexico; 6.2.5.3.1. By End-User (Value); 6.2.5.3.1.1. Residential; 6.2.5.3.1.2. Commercial
7. Europe Shrimp Market Analysis, Insights and Forecast, 2019-2032: 7.1. Key Findings / Summary; 7.2. Market Size Estimates and Forecast; 7.2.1. By Type; 7.2.1.1. Pink; 7.2.1.2. White; 7.2.1.3. Brown; 7.2.1.4. Others; 7.2.2. By Form; 7.2.2.1. Frozen; 7.2.2.2. Canned; 7.2.3. By End User; 7.2.3.1. Residential; 7.2.3.2. Commercial; 7.2.4. By Distribution Channel; 7.2.4.1. Hypermarkets/Supermarkets; 7.2.4.2. Convenience Stores; 7.2.4.3. Specialty Stores; 7.2.4.4. Online Sales Channel; 7.2.5. By Country (Value); 7.2.5.1. France; 7.2.5.1.1. By End-User (Value); 7.2.5.1.1.1. Residential; 7.2.5.1.1.2. Commercial; 7.2.5.2. Germany; 7.2.5.2.1. By End-User (Value); 7.2.5.2.1.1. Residential; 7.2.5.2.1.2. Commercial; 7.2.5.3. UK; 7.2.5.3.1. By End-User (Value); 7.2.5.3.1.1. Residential; 7.2.5.3.1.2. Commercial; 7.2.5.4. Italy; 7.2.5.4.1. By End-User (Value); 7.2.5.4.1.1. Residential; 7.2.5.4.1.2. Commercial; 7.2.5.5. Russia; 7.2.5.5.1. By End-User (Value); 7.2.5.5.1.1. Residential; 7.2.5.5.1.2. Commercial; 7.2.5.6. Rest of Europe; 7.2.5.6.1. By End-User (Value); 7.2.5.6.1.1. Residential; 7.2.5.6.1.2. Commercial
8. Asia Pacific Shrimp Market Analysis, Insights and Forecast, 2019-2032: 8.1. Key Findings / Summary; 8.2. Market Size Estimates and Forecast; 8.2.1. By Type; 8.2.1.1. Pink; 8.2.1.2. White; 8.2.1.3. Brown; 8.2.1.4. Others; 8.2.2. By Form; 8.2.2.1. Frozen; 8.2.2.2. Canned; 8.2.3. By End User; 8.2.3.1. Residential; 8.2.3.2. Commercial; 8.2.4. By Distribution Channel; 8.2.4.1. Hypermarkets/Supermarkets; 8.2.4.2. Convenience Stores; 8.2.4.3. Specialty Stores; 8.2.4.4. Online Sales Channel; 8.2.5. By Country (Value); 8.2.5.1. China; 8.2.5.1.1. By End-User (Value); 8.2.5.1.1.1. Residential; 8.2.5.1.1.2. Commercial; 8.2.5.2. India; 8.2.5.2.1. By End-User (Value); 8.2.5.2.1.1. Residential; 8.2.5.2.1.2. Commercial; 8.2.5.3. Japan; 8.2.5.3.1. By End-User (Value); 8.2.5.3.1.1. Residential; 8.2.5.3.1.2. Commercial; 8.2.5.4. Australia; 8.2.5.4.1. By End-User (Value); 8.2.5.4.1.1. Residential; 8.2.5.4.1.2. Commercial; 8.2.5.5. Rest of Asia Pacific; 8.2.5.5.1. By End-User (Value); 8.2.5.5.1.1. Residential; 8.2.5.5.1.2. Commercial
9. South America Shrimp Market Analysis, Insights and Forecast, 2019-2032: 9.1. Key Findings / Summary; 9.2. Market Size Estimates and Forecast; 9.2.1. By Type; 9.2.1.1. Pink; 9.2.1.2. White; 9.2.1.3. Brown; 9.2.1.4. Others; 9.2.2. By Form; 9.2.2.1. Frozen; 9.2.2.2. Canned; 9.2.3. By End User; 9.2.3.1. Residential; 9.2.3.2. Commercial; 9.2.4. By Distribution Channel; 9.2.4.1. Hypermarkets/Supermarkets; 9.2.4.2. Convenience Stores; 9.2.4.3. Specialty Stores; 9.2.4.4. Online Sales Channel; 9.2.5. By Country (Value); 9.2.5.1. Ecuador; 9.2.5.1.1. By End-User (Value); 9.2.5.1.1.1. Residential; 9.2.5.1.1.2. Commercial; 9.2.5.2. Brazil; 9.2.5.2.1. By End-User (Value); 9.2.5.2.1.1. Residential; 9.2.5.2.1.2. Commercial; 9.2.5.3. Rest of South America; 9.2.5.3.1. By End-User (Value); 9.2.5.3.1.1. Residential; 9.2.5.3.1.2. Commercial
10. Middle East & Africa Shrimp Market Analysis, Insights and Forecast, 2019-2032: 10.1. Key Findings / Summary; 10.2. Market Size Estimates and Forecast; 10.2.1. By Type; 10.2.1.1. Pink; 10.2.1.2. White; 10.2.1.3. Brown; 10.2.1.4. Others; 10.2.2. By Form; 10.2.2.1. Frozen; 10.2.2.2. Canned; 10.2.3. By End User; 10.2.3.1. Residential; 10.2.3.2. Commercial; 10.2.4. By Distribution Channel; 10.2.4.1. Hypermarkets/Supermarkets; 10.2.4.2. Convenience Stores; 10.2.4.3. Specialty Stores; 10.2.4.4. Online Sales Channel; 10.2.5. By Country (Value); 10.2.5.1.; 10.2.5.1.1. South Africa; 10.2.5.1.1.1. By End-User (Value); 10.2.5.1.1.1.1. Residential; 10.2.5.1.1.1.2. Commercial; 10.2.5.1.2. Turkey; 10.2.5.1.2.1. By End-User (Value); 10.2.5.1.2.1.1. Residential; 10.2.5.1.2.1.2. Commercial; 10.2.5.1.3. Rest of Middle East & Africa; 10.2.5.1.3.1. By End-User (Value); 10.2.5.1.3.1.1. Residential; 10.2.5.1.3.1.2. Commercial
11. Competitive Matrix: 11.1. Business Strategies Adopted by Leading Players; 11.2. Global Shrimp Market Revenue Share/Ranking Analysis, By Key Manufacturer, 2019
12. Company Profiles: 12.1. Aqua Star Corp.; 12.1.1. Overview; 12.1.2. Description; 12.1.3. Product Portfolio; 12.1.4. Financials (Data as available in public domain and/or on paid databases); 12.1.5. Recent Developments; 12.2. Avanti Feeds Ltd.; 12.2.1. Overview; 12.2.2. Description; 12.2.3. Product Portfolio; 12.2.4. Financials (Data as available in public domain and/or on paid databases); 12.2.5. Recent Developments; 12.3. Clearwater Seafoods Inc.; 12.3.1. Overview; 12.3.2. Description; 12.3.3. Product Portfolio; 12.3.4. Financials (Data as available in public domain and/or on paid databases); 12.3.5. Recent Developments; 12.4. High Liner Foods Inc.; 12.4.1. Overview; 12.4.2. Description; 12.4.3. Product Portfolio; 12.4.4. Financials (Data as available in public domain and/or on paid databases); 12.4.5. Recent Developments; 12.5. Marine Harvest; 12.5.1. Overview; 12.5.2. Description; 12.5.3. Product Portfolio; 12.5.4. Financials (Data as available in public domain and/or on paid databases); 12.5.5. Recent Developments; 12.6. Maruha Nichiro Corporation; 12.6.1. Overview; 12.6.2. Description; 12.6.3. Product Portfolio; 12.6.4. Financials (Data as available in public domain and/or on paid databases); 12.6.5. Recent Developments; 12.7. Nippon Suisan Kaisha; 12.7.1. Overview; 12.7.2. Description; 12.7.3. Product Portfolio; 12.7.4. Financials (Data as available in public domain and/or on paid databases); 12.7.5. Recent Developments; 12.8. Nordic Seafoods A/S; 12.8.1. Overview; 12.8.2. Description; 12.8.3. Product Portfolio; 12.8.4. Financials (Data as available in public domain and/or on paid databases); 12.8.5. Recent Developments; 12.9. Surapon Foods; 12.9.1. Overview; 12.9.2. Description; 12.9.3. Product Portfolio; 12.9.4. Financials (Data as available in public domain and/or on paid databases); 12.9.5. Recent Developments; 12.10. Thai Union Group; 12.10.1. Overview; 12.10.2. Description; 12.10.3. Product Portfolio; 12.10.4. Financials (Data as available in public domain and/or on paid databases); 12.10.5. Recent Developments
13. Appendix