Global Shrimp Market Report Overview
The Global Shrimp Market was valued at US$ 56,875 million in 2022 and is expected to reach US$ 85,319 million by 2030, exhibiting a CAGR of 5.2% during the forecast period (2023-2030).
Shrimp is gaining popularity worldwide, embraced not only for its delectable taste but also for its commitment to responsible aquaculture and culinary versatility. The global shrimp market is driven by the rising demand for high-protein foods due to the increasing number of health-conscious consumers.
Key players operating in the global shrimp market include Aqua Star, Avanti Feeds Ltd., Clearwater Seafoods, High Liner Foods Inc, Mazzetta Company, LLC, Nordic Seafood A/S, Maruha Nichiro Corporation, Surapon Foods, Thai Union Group, and Nippon Suisan Kaisha.
These key players are focused on adopting various growth strategies such as acquisitions collaborations, and product launches.
Key Developments in the Global Shrimp Market
In May 2023, Seapoint Farms launched a new line of frozen shrimp that are certified organic. The shrimp are raised in the Gulf of Mexico using sustainable farming practices.
In April 2023, Bubba Shrimp launched a new line of frozen shrimp that are pre-cooked and ready to eat. The shrimp are cooked in a proprietary process that preserves the flavor and texture of the shrimp.
In March 2023, Cooke Aquaculture acquired True Blue Foods. True Blue Foods is a leading producer of sustainable shrimp in the United States.
In February 2023, Global Aquaponics acquired Premium Shrimp. Premium Shrimp is a leading producer of farmed shrimp in the United States.
|
Report Metrics |
Details |
|
CAGR |
5.2% |
|
Forecast Period |
2023-2030 |
|
Data Availability |
Value (USD) |
|
Segments Covered |
By Product, By Form, By End User, By Distribution Channel, and By Region |
|
Regions Covered |
North America, Europe, Asia-Pacific, Latin America and Middle East & Africa |
|
Fastest Growing Region |
Asia-Pacific |
|
Largest Region |
North America |
|
Report Insights Covered |
Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and Acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, and Other Key insights. |
For More Insights about the Market Request Free Sample: https://www.datamintelligence.com/download-sample/shrimp-market
Shrimp Market: Overview
Shrimp has carved its place as one of the most cherished seafood delicacies globally. Known for its sweet, succulent flavor and tender texture, shrimp is a favorite in various cuisines, from Asian stir-fries and Mediterranean dishes to Cajun and Creole specialties.
As a versatile ingredient, shrimp is a culinary chameleon, elevating a wide range of dishes with its distinct taste and luxurious appeal. From being the star attraction in seafood platters to complementing pasta, salads, and soups, shrimp adds a touch of indulgence and sophistication to any recipe it graces.
Shrimp Market: Opportunities
As consumers become more environmentally conscious, sustainable sourcing and responsible fishing practices can attract environmentally aware consumers and enhance the brand reputation.
Moreover, offering value-added shrimp products, such as peeled, deveined, or marinated shrimp, can cater to convenience-seeking consumers and expand market reach. Exploring opportunities in emerging markets with a growing middle class and evolving culinary preferences can open new avenues for shrimp consumption and distribution.
Shrimp Market: Dynamics
The major factor driving the market growth is the increasing demand for high-protein foods. Shrimp is a lean, nutrient-dense protein source that makes it a favored option for health-conscious individuals and fitness enthusiasts.
Other factors that boost the shrimp market growth include the rising disposable income of consumers and increasing expenditure on nutrient-rich products.
However, international trade policies and tariffs can impact the import and export of shrimp products, affecting market accessibility and creating trade barriers. Changes in trade regulations can disrupt established supply chains and influence shrimp prices.
Shrimp Market: Geographical Insights
North America accounted for the highest revenue share in 2022 due to the increasing demand for shrimp in the region. Shrimp farming in the USA is the largest form of aquaculture business consuming various species of prawns and marine shrimp. The US is the second-largest consumer of shrimp after China.
Table of Contents
|
1 |
Report Methodology and Scope |
|
2 |
Report Definition and Overview |
|
3 |
Executive Summary |
|
4 |
Market Dynamics |
|
5 |
Industry Factors |
|
6 |
COVID-19 Analysis |
|
7 |
Shrimp Market Segments and Region |
|
8 |
Global Company Share Analysis – 10 Key Companies |
|
9 |
Shrimp Market Company and Product Profiles |
|
10 |
About DataM |
Related Reports
About DataM Intelligence:
DataM Intelligence 4Market Research is a Market Research firm that provides end-to-end business solutions to organizations from Research to Consulting. We, at DataM Intelligence, leverage our top trademark trends, insights and developments to emancipate swift and astute solutions to clients like you. We encompass a multitude of syndicate reports and customized reports with a robust methodology. Our research database features countless statistics and in-depth analyses across a wide range of 6300+ reports in 40+ domains creating business solutions for more than 200+ companies across 50+ countries; catering to the key business research needs that influence the growth trajectory of our vast clientele.
Media Contact
Company Name: DataM Intelligence
Contact Person: Sai Kiran
Email: Send Email
Phone: 08774414866
Address:DATAM INTELLIGENCE 4MARKET RESEARCH LLP Ground floor, DSL Abacus IT Park, Industrial Development Area, Uppal, Hyderabad, Telangana 500039
City: HYDERABAD
State: Telangana
Country: India
Website: https://www.datamintelligence.com/research-report/shrimp-market