Global Shrimp Market Trends & Summary
The global shrimp market was valued at USD 68.84 billion in 2024 and is expected to reach USD 102.48 billion by 2033, growing at a CAGR of 4.52% from 2025 to 2033. The market growth is driven by increasing seafood consumption, improving health awareness, and advancements in aquaculture techniques.
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Market Overview
Shrimp is a popular seafood choice, prized for its delicate flavor, high protein content, and low calorie count. It is widely available in various forms, including frozen, cooked, peeled, and green/head-on. The global shrimp market is segmented by species, size category, product form, and region.
Growth Drivers
- Growing Demand for Protein-Rich Seafood: Shrimp is a low-fat, high-protein seafood option, driving its popularity among health-conscious consumers.
- Shrimp Aquaculture Expansion: Advances in shrimp cultivation have increased production and supply, making shrimp more accessible and affordable.
- Growing Demand for Processed and Value-Added Shrimp: Convenience-driven seafood products, such as frozen, cooked, and breaded shrimp, are gaining popularity in developed economies.
Challenges
- Environmental Concerns and Sustainability Issues: Shrimp aquaculture has been criticized for its environmental footprint, leading to increased demand for sustainable and environmentally friendly practices.
- Supply Chain Disruptions and Trade Barriers: The shrimp trade is vulnerable to supply chain disruptions, trade barriers, and volatility in feed, fuel, and transportation costs.
Global Shrimp Market Segments
- Species: L. vannamei, P. monodon, M.rosenbergii, and others
- Size Category: <15, 15-20, 21-25, 26-30, 31-40, 41-50, 51-60, 61-70, >70
- Product Form: Breaded, cooked, peeled, green/head-off, green/head-on, and other forms
Key Regions
- United States: A major shrimp consumer, with demand driven by restaurant chains, supermarkets, and frozen food stores.
- Italy: Boasts a high seafood culture, with fresh and wild-caught shrimp in strong demand.
- China: The world’s leading producer and consumer of shrimp, with increasing demand for frozen and high-quality shrimp.
- UAE: A seafood-infused market, with high-end hotels, upscale restaurants, and supermarkets driving shrimp consumption.
Key Players
- Avanti Feeds Ltd.
- High Liner Foods Inc.
- Surapon Foods
- Thai Union Group
- The Waterbase Ltd.
- Royal Greenland
- Maruha Nichiro Corporation
- Mowi ASA
- Charoen Pokphand Foods PCL
This report provides a comprehensive analysis of the global shrimp market, including market trends, growth drivers, challenges, and key player analysis. It also covers the market segments, regions, and species, providing valuable insights for industry stakeholders and market researchers.
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