According to the latest report by IMARC Group, titled “Shrimp Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026,” the global shrimp market size reached a volume of 8.12 Million Tons in 2020. On account of the aforementioned factors, the market is anticipated to witness moderate growth during 2021-2026.
Shrimp represents a small-sized marine crustacean belonging to the class Malacostraca. It is found in oceans, freshwater lakes, and streams, and is one of the most popular varieties of seafood consumed across countries. Shrimp is a rich source of proteins, vitamin D, selenium, antioxidants, omega-3 fatty acids, etc., and has low amounts of saturated fat. It aids in preventing hair loss, maintaining healthy bones, enhancing memory performance, minimizing menstrual cramps, eliminating bad cholesterol, etc. Shrimp also assist in reducing blood pressure, managing weight, and improving heart health. It is widely utilized in the food industry to prepare several dishes, including pasta, mixed seafood dishes, tostadas, tacos, noodle soup, etc.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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Global Shrimp Market Trends:
The shifting preferences among consumers towards protein-rich diets are among the primary factors driving the shrimp market across the globe. Furthermore, the rising usage of processed and frozen shrimp items, owing to their affordable prices, easy availability, lower cooking time, extended shelf-life, etc., is also catalyzing the market growth. Besides this, the escalating demand for ready-to-cook and ready-to-eat product variants among working individuals, on account of their hectic work schedules and sedentary lifestyles, is acting as another significant growth-inducing factor. Moreover, the introduction of organic shrimp variants that are free from growth hormones and antibiotics is augmenting the global market. In addition to this, the launch of numerous favorable initiatives by various government bodies aimed at encouraging shrimp farming practices by providing monetary incentives and subsidies to farmers is anticipated to bolster the shrimp market over the forecasted period.
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Competitive Landscape:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
Some of these key players include:
- Aqua Star Corp.
- Avanti Feeds Ltd.
- Clearwater Seafoods Inc.
- High Liner Foods Inc.
- Mazzetta Company LLC
- Nordic Seafoods A/S
- Surapon Foods
- Thai Union Group
- The Waterbase Ltd.
- Wild Oceans Pvt. Ltd.
Key Market Segmentation:
Breakup by Species:
- Penaeus vannamei
- Penaeus monodon
- Macrobrachium rosenbergii
- Others
Breakup by Shrimp Size:
- 21-25
- 26-30
- 31-40
- 41-50
- 51-60
- 61-70
- >70
Breakup by Distribution Channel:
- Hypermarkets and Supermarkets
- Convenience Stores
- Hotels and Restaurants
- Online Sales
- Others
Breakup by Region:
- Major Producing Regions
- China
- India
- Indonesia
- Vietnam
- Thailand
- Ecuador
- Major Consuming Regions
- United States
- China
- Europe
- Japan
- o Others
Key highlights of the Report:
- Market Performance (2015-2020)
- Market Outlook (2021-2026)
- COVID-19 Impacton the Market
- Porter’s Five Forces Analysis
- Historical, Current and Future Market Trends
- Market Drivers and Success Factors
- SWOT Analysis
- Structure of the Market
- Value Chain Analysis
- Comprehensive Mapping of the Competitive Landscape
Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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