Global Shrimp Market Report, Price, Size, Share, Value, Demand, Consumption, Forecast 2023-2028

The latest report by IMARC Group, titled “Shrimp Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,” offers a comprehensive analysis of the industry, which comprises insights on the global shrimp market. The report also includes competitor and regional analysis, and contemporary advancements in the market.

The global shrimp market size reached US$ 65.9 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 87.9 Billion by 2028, exhibiting a growth rate (CAGR) of 4.7% during 2023-2028.

Shrimp, scientifically known as decapod crustaceans of the order Pleocyemata, represent a valuable commodity in the culinary industry. These marine crustaceans, typically found in fresh and saltwater habitats, boast a rich history as a coveted delicacy worldwide. Shrimp exhibit a remarkable variety of species, varying in size, color, and flavor, offering a versatile ingredient for a multitude of culinary creations. Renowned for its tender texture and exquisite taste, shrimp has garnered significant attention as a premium ingredient in various cuisines, enticing discerning palates globally. Moreover, their high nutritional value, low-calorie content, and rich source of protein further contribute to their appeal as a health-conscious choice.

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Global Shrimp Market Trends:

The global market is majorly driven by the increasing consumer preference for seafood. In line with this, the rising global population and rapid urbanization are leading to the growing consumption of seafood, including shrimp, especially in developing countries, thereby significantly contributing to the market. Furthermore, the escalating awareness among consumers regarding the health benefits shrimp offers is positively influencing the market. Apart from this, the changing consumer tastes and preferences, driven by globalization and exposure to diverse cuisines, are increasing demand for shrimp as a versatile ingredient in various culinary preparations, catalyzing the market.

Moreover, the expanding food service sector, including restaurants, hotels, and catering services, is driving the demand for shrimp as a popular seafood item on menus, further propelling market growth. Besides, continuous product innovation, such as value-added shrimp products, convenient packaging, and ready-to-eat options, is expanding the market reach and attracting new consumer segments. Additionally, the growth of shrimp aquaculture, facilitated by technological advancements, improved farming practices, and sustainable production methods, is raising the availability and affordability of shrimp, strengthening the market.

By IMARC group, Some of the Top Shrimp Companies Operating in the Market are Given Below:

• 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.

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Key Market Segmentation:

Breakup by Species:

• Penaeus vannamei
• Penaeus monodon
• Macrobrachium rosenbergii
• Others

Breakup by Shrimp Size:

• <21  
• 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
• Others

Key highlights of the Report:

• Market Performance (2017-2022)
• Market Outlook (2023-2028)
• COVID-19 Impact on 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.