The Shrimp Market is driven by various factors, including increasing global demand, health benefits, exports, aquaculture growth, sustainability concerns, disease management, technology adoption, sustainability certification, alternative protein sources, traceability and transparency, e-commerce and direct-to-consumer sales, processed and convenience products, health and wellness trends, and changing consumer preferences. Shrimp is a popular seafood due to its health benefits and low calorie and fat content. Major exporters in Southeast Asia, such as Thailand, Vietnam, and Indonesia, drive production. Aquaculture growth, with advanced farming techniques, has increased production capacity. Sustainability concerns, such as mangrove deforestation, water pollution, and labour practices, are growing. Disease management and prevention are critical drivers for the industry. Technology adoption, such as automation and data analytics, can enhance productivity and efficiency. Sustainability certifications like Aquaculture Stewardship Council and Best Aquaculture Practices assure consumers that shrimp is produced responsibly. Alternative protein sources, traceability, transparency, and e-commerce platforms are also driving the market. Health and wellness trends are promoting shrimp's high protein and low-fat content. The shrimp market adapts to changing consumer preferences by offering diverse product forms and flavours.
The increasing global demand for shrimp as a protein source has triggered a surge in interest across the shrimp market. Shrimp, renowned for its versatility and succulent taste, is now capturing the attention of a diverse customer base, ranging from health-conscious individuals seeking a low-fat, high-protein option to gourmet chefs incorporating it into their culinary creations. Furthermore, its accessibility in various forms, from fresh to frozen, cooked to raw, has made it a popular choice for consumers worldwide. As consumers become more aware of sustainable and responsible sourcing practices, the shrimp industry is also adapting to meet these expectations, fostering a more environmentally conscious market. This growing demand and evolving market dynamics are poised to shape the future of the shrimp industry.
Advancements in sustainable aquaculture techniques have revolutionized the shrimp production industry, playing a pivotal role in boosting the shrimp market. These innovative techniques prioritize environmental conservation and reduce the industry's ecological footprint. They include the implementation of closed-loop systems, biofloc technology, and improved feed formulations, all of which contribute to higher yields with minimal adverse impacts on the ecosystem. Sustainable practices not only enhance shrimp production efficiency but also address growing concerns about overfishing and habitat destruction. By promoting responsible farming methods, such as integrated multitrophic aquaculture (IMTA) and reduced antibiotic usage, these advancements ensure healthier, higher-quality shrimp products. As consumers become increasingly conscious of sustainability, the shrimp market continues to flourish, driven by these eco-friendly practices that benefit both the industry and the planet.
The global demand for shrimp production has experienced a significant surge in recent years, leading to a substantial increase in the shrimp market. This heightened demand can be attributed to several factors, including the rising popularity of seafood consumption, shifting dietary preferences towards healthier options, and the versatility of shrimp in various culinary traditions. Additionally, the globalization of the food industry has made shrimp more accessible and sought-after worldwide. As a result, shrimp farming and harvesting operations have expanded to meet this burgeoning demand, leading to both economic opportunities and sustainability challenges within the industry. The shrimp market's growth is expected to continue as consumers continue to embrace shrimp as a delicious and nutritious protein source.
The remarkable dominance can be attributed to several factors. First and foremost, L. vannamei boasts impressive adaptability to various aquaculture conditions, making it the preferred choice for shrimp farming worldwide. Its ability to thrive in diverse environments ensures a consistent and abundant supply year-round. Furthermore, L. vannamei's relatively rapid growth rate and high reproductive capacity contribute to its ubiquity. This species matures quickly, allowing for shorter production cycles and quicker market turnover. Its succulent, sweet flesh and appealing appearance also make it a favorite among consumers, further boosting its market presence. The global seafood industry heavily relies on L. vannamei due to its efficient farming practices, affordability, and dependable production. Its versatility in culinary applications, from sushi to scampi, only enhances its market desirability. Thus, L. vannamei's unwavering reign as the most dominant shrimp species in the global market seems poised to persist into the foreseeable future.
The dominance is primarily driven by escalating demand for this seafood delicacy, spurred by population growth, rising incomes, and urbanization. The limited supply of wild shrimp, constrained by habitat availability and overfishing impacts, has further reinforced aquaculture's prominence. This method offers numerous advantages, such as controlled production conditions, reduced environmental impacts, and the ability to tailor shrimp to specific market preferences. Key species like Pacific white shrimp (Penaeus vannamei) and giant tiger prawn (Penaeus monodon) are favoured due to their rapid growth and ease of farming. Aquaculture shrimp production is dispersed across several countries, including China, India, Vietnam, Thailand, Indonesia, and Brazil.
The dominance is a testament to the versatile appeal of these crustaceans, catering to a wide range of culinary preferences and applications. These medium-sized shrimp strike a harmonious balance between size and flavour, making them a favourite among consumers and chefs alike. Restaurants and seafood enthusiasts value the 31-40 size for its adaptability in dishes like shrimp scampi, pasta, and various Asian cuisines. Moreover, this segment's consistent supply and relatively affordable price point have contributed to its supremacy, ensuring accessibility to a broad consumer base. In the ever-evolving landscape of the global seafood industry, the 31-40 size shrimp segment remains a steadfast cornerstone, promising both quality and convenience to those who savour the delights of the ocean. Its reign in the market is a testament to its enduring popularity and culinary versatility.
The popular variation of the crustacean offers convenience and versatility like no other. With their shells meticulously removed, peeled shrimp save consumers valuable time in preparation, making them a go-to choice for busy kitchens and culinary enthusiasts alike. Their clean and tender flesh allows for a hassle-free cooking experience, whether it's for a quick stir-fry, a succulent seafood pasta, or a classic shrimp cocktail. Moreover, the absence of shells means you get more edible shrimp per serving, maximizing the value for your money. Peeled shrimp's popularity isn't just about convenience; it's also about flavour. Without the shell to contend with, these shrimps absorb seasonings and sauces readily, delivering a burst of delectable taste in every bite. It's no wonder that in the ever-evolving world of seafood, peeled shrimp stands tall as the dominant choice for those seeking both ease and exquisite flavour on their plates.
The dominance is primarily because they provide a comprehensive and convenient shopping experience. These retail giants offer a diverse range of shrimp products, encompassing both fresh and frozen varieties from various countries. Shoppers find it convenient to access shrimp alongside their other grocery requirements in a single visit. Furthermore, the substantial purchasing power of hypermarkets and supermarkets allows them to offer competitive prices on shrimp, strengthening their dominance in this market segment.
Type
Source
Size
Form
Sales Channel
Shrimp Market Outlook 2023
1 Market Overview
1.1 Introduction to the Shrimp Market
1.2 Scope of the Study
1.3 Research Objective
1.3.1 Key Market Scope and Segments
1.3.2 Players Covered
1.3.3 Years Considered
2 Executive Summary
2.1 2023 Shrimp Industry- Market Statistics
3 Market Dynamics
3.1 Market Drivers
3.2 Market Challenges
3.3 Market Opportunities
3.4 Market Trends
4 Market Factor Analysis
4.1 Porter’s Five Forces
4.2 Market Entropy
4.2.1 Global Shrimp Market Companies with Area Served
4.2.2 Products Offerings Global Shrimp Market
5 COVID-19 Impact Analysis and Outlook Scenarios
5.1.1 Covid-19 Impact Analysis
5.1.2 post-COVID-19 Scenario- Low Growth Case
5.1.3 post-COVID-19 Scenario- Reference Growth Case
5.1.4 post-COVID-19 Scenario- Low Growth Case
6 Global Shrimp Market Trends
6.1 Global Shrimp Revenue (USD Million) and CAGR (%) by Type (2018-2030)
6.2 Global Shrimp Revenue (USD Million) and CAGR (%) by Applications (2018-2030)
6.3 Global Shrimp Revenue (USD Million) and CAGR (%) by regions (2018-2030)
7 Global Shrimp Market Revenue (USD Million) by Type, and Applications (2018-2022)
7.1 Global Shrimp Revenue (USD Million) by Type (2018-2022)
7.1.1 Global Shrimp Revenue (USD Million), Market Share (%) by Type (2018-2022)
7.2 Global Shrimp Revenue (USD Million) by Applications (2018-2022)
7.2.1 Global Shrimp Revenue (USD Million), Market Share (%) by Applications (2018-2022)
8 Global Shrimp Development Regional Status and Outlook
8.1 Global Shrimp Revenue (USD Million) By Regions (2018-2022)
8.2 North America Shrimp Revenue (USD Million) by Type, and Application (2018-2022)
8.2.1 North America Shrimp Revenue (USD Million) by Country (2018-2022)
8.2.2 North America Shrimp Revenue (USD Million) by Type (2018-2022)
8.2.3 North America Shrimp Revenue (USD Million) by Applications (2018-2022)
8.3 Europe Shrimp Revenue (USD Million), by Type, and Applications (USD Million) (2018-2022)
8.3.1 Europe Shrimp Revenue (USD Million), by Country (2018-2022)
8.3.2 Europe Shrimp Revenue (USD Million) by Type (2018-2022)
8.3.3 Europe Shrimp Revenue (USD Million) by Applications (2018-2022)
8.4 Asia Pacific Shrimp Revenue (USD Million), and Revenue (USD Million) by Type, and Applications (2018-2022)
8.4.1 Asia Pacific Shrimp Revenue (USD Million) by Country (2018-2022)
8.4.2 Asia Pacific Shrimp Revenue (USD Million) by Type (2018-2022)
8.4.3 Asia Pacific Shrimp Revenue (USD Million) by Applications (2018-2022)
8.5 South America Shrimp Revenue (USD Million), by Type, and Applications (2018-2022)
8.5.1 South America Shrimp Revenue (USD Million), by Country (2018-2022)
8.5.2 South America Shrimp Revenue (USD Million) by Type (2018-2022)
8.5.3 South America Shrimp Revenue (USD Million) by Applications (2018-2022)
8.6 Middle East and Africa Shrimp Revenue (USD Million), by Type, Technology, Application, Thickness (2018-2022)
8.6.1 Middle East and Africa Shrimp Revenue (USD Million) by Country (2018-2022)
8.6.2 Middle East and Africa Shrimp Revenue (USD Million) by Type (2018-2022)
8.6.3 Middle East and Africa Shrimp Revenue (USD Million) by Applications (2018-2022)
9 Company Profiles
10 Global Shrimp Market Revenue (USD Million), by Type, and Applications (2023-2030)
10.1 Global Shrimp Revenue (USD Million) and Market Share (%) by Type (2023-2030)
10.1.1 Global Shrimp Revenue (USD Million), and Market Share (%) by Type (2023-2030)
10.2 Global Shrimp Revenue (USD Million) and Market Share (%) by Applications (2023-2030)
10.2.1 Global Shrimp Revenue (USD Million), and Market Share (%) by Applications (2023-2030)
11 Global Shrimp Development Regional Status and Outlook Forecast
11.1 Global Shrimp Revenue (USD Million) By Regions (2023-2030)
11.2 North America Shrimp Revenue (USD Million) by Type, and Applications (2023-2030)
11.2.1 North America Shrimp Revenue (USD) Million by Country (2023-2030)
11.2.2 North America Shrimp Revenue (USD Million), by Type (2023-2030)
11.2.3 North America Shrimp Revenue (USD Million), Market Share (%) by Applications (2023-2030)
11.3 Europe Shrimp Revenue (USD Million), by Type, and Applications (2023-2030)
11.3.1 Europe Shrimp Revenue (USD Million), by Country (2023-2030)
11.3.2 Europe Shrimp Revenue (USD Million), by Type (2023-2030)
11.3.3 Europe Shrimp Revenue (USD Million), by Applications (2023-2030)
11.4 Asia Pacific Shrimp Revenue (USD Million) by Type, and Applications (2023-2030)
11.4.1 Asia Pacific Shrimp Revenue (USD Million), by Country (2023-2030)
11.4.2 Asia Pacific Shrimp Revenue (USD Million), by Type (2023-2030)
11.4.3 Asia Pacific Shrimp Revenue (USD Million), by Applications (2023-2030)
11.5 South America Shrimp Revenue (USD Million), by Type, and Applications (2023-2030)
11.5.1 South America Shrimp Revenue (USD Million), by Country (2023-2030)
11.5.2 South America Shrimp Revenue (USD Million), by Type (2023-2030)
11.5.3 South America Shrimp Revenue (USD Million), by Applications (2023-2030)
11.6 Middle East and Africa Shrimp Revenue (USD Million), by Type, and Applications (2023-2030)
11.6.1 Middle East and Africa Shrimp Revenue (USD Million), by region (2023-2030)
11.6.2 Middle East and Africa Shrimp Revenue (USD Million), by Type (2023-2030)
11.6.3 Middle East and Africa Shrimp Revenue (USD Million), by Applications (2023-2030)
12 Methodology and Data Sources
12.1 Methodology/Research Approach
12.1.1 Research Programs/Design
12.1.2 Market Size Estimation
12.1.3 Market Breakdown and Data Triangulation
12.2 Data Sources
12.2.1 Secondary Sources
12.2.2 Primary Sources
12.3 Disclaimer
List of Tables
Table 1 Market Segmentation Analysis
Table 2 Global Shrimp Market Companies with Areas Served
Table 3 Products Offerings Global Shrimp Market
Table 4 Low Growth Scenario Forecasts
Table 5 Reference Case Growth Scenario
Table 6 High Growth Case Scenario
Table 7 Global Shrimp Revenue (USD Million) And CAGR (%) By Type (2018-2030)
Table 8 Global Shrimp Revenue (USD Million) And CAGR (%) By Applications (2018-2030)
Table 9 Global Shrimp Revenue (USD Million) And CAGR (%) By Regions (2018-2030)
Table 10 Global Shrimp Revenue (USD Million) By Type (2018-2022)
Table 11 Global Shrimp Revenue Market Share (%) By Type (2018-2022)
Table 12 Global Shrimp Revenue (USD Million) By Applications (2018-2022)
Table 13 Global Shrimp Revenue Market Share (%) By Applications (2018-2022)
Table 14 Global Shrimp Market Revenue (USD Million) By Regions (2018-2022)
Table 15 Global Shrimp Market Share (%) By Regions (2018-2022)
Table 16 North America Shrimp Revenue (USD Million) By Country (2018-2022)
Table 17 North America Shrimp Revenue (USD Million) By Type (2018-2022)
Table 18 North America Shrimp Revenue (USD Million) By Applications (2018-2022)
Table 19 Europe Shrimp Revenue (USD Million) By Country (2018-2022)
Table 20 Europe Shrimp Revenue (USD Million) By Type (2018-2022)
Table 21 Europe Shrimp Revenue (USD Million) By Applications (2018-2022)
Table 22 Asia Pacific Shrimp Revenue (USD Million) By Country (2018-2022)
Table 23 Asia Pacific Shrimp Revenue (USD Million) By Type (2018-2022)
Table 24 Asia Pacific Shrimp Revenue (USD Million) By Applications (2018-2022)
Table 25 South America Shrimp Revenue (USD Million) By Country (2018-2022)
Table 26 South America Shrimp Revenue (USD Million) By Type (2018-2022)
Table 27 South America Shrimp Revenue (USD Million) By Applications (2018-2022)
Table 28 Middle East and Africa Shrimp Revenue (USD Million) By Region (2018-2022)
Table 29 Middle East and Africa Shrimp Revenue (USD Million) By Type (2018-2022)
Table 30 Middle East and Africa Shrimp Revenue (USD Million) By Applications (2018-2022)
Table 31 Financial Analysis
Table 32 Global Shrimp Revenue (USD Million) By Type (2023-2030)
Table 33 Global Shrimp Revenue Market Share (%) By Type (2023-2030)
Table 34 Global Shrimp Revenue (USD Million) By Applications (2023-2030)
Table 35 Global Shrimp Revenue Market Share (%) By Applications (2023-2030)
Table 36 Global Shrimp Market Revenue (USD Million), And Revenue (USD Million) By Regions (2023-2030)
Table 37 North America Shrimp Revenue (USD)By Country (2023-2030)
Table 38 North America Shrimp Revenue (USD Million) By Type (2023-2030)
Table 39 North America Shrimp Revenue (USD Million) By Applications (2023-2030)
Table 40 Europe Shrimp Revenue (USD Million) By Country (2023-2030)
Table 41 Europe Shrimp Revenue (USD Million) By Type (2023-2030)
Table 42 Europe Shrimp Revenue (USD Million) By Applications (2023-2030)
Table 43 Asia Pacific Shrimp Revenue (USD Million) By Country (2023-2030)
Table 44 Asia Pacific Shrimp Revenue (USD Million) By Type (2023-2030)
Table 45 Asia Pacific Shrimp Revenue (USD Million) By Applications (2023-2030)
Table 46 South America Shrimp Revenue (USD Million) By Country (2023-2030)
Table 47 South America Shrimp Revenue (USD Million) By Type (2023-2030)
Table 48 South America Shrimp Revenue (USD Million) By Applications (2023-2030)
Table 49 Middle East and Africa Shrimp Revenue (USD Million) By Region (2023-2030)
Table 50 Middle East and Africa Shrimp Revenue (USD Million) By Region (2023-2030)
Table 51 Middle East and Africa Shrimp Revenue (USD Million) By Type (2023-2030)
Table 52 Middle East and Africa Shrimp Revenue (USD Million) By Applications (2023-2030)
Table 53 Research Programs/Design for This Report
Table 54 Key Data Information from Secondary Sources
Table 55 Key Data Information from Primary Sources
List of Figures
Figure 1 Market Scope
Figure 2 Porter’s Five Forces
Figure 3 Global Shrimp Revenue (USD Million) By Type (2018-2022)
Figure 4 Global Shrimp Revenue Market Share (%) By Type (2022)
Figure 5 Global Shrimp Revenue (USD Million) By Applications (2018-2022)
Figure 6 Global Shrimp Revenue Market Share (%) By Applications (2022)
Figure 7 Global Shrimp Market Revenue (USD Million) By Regions (2018-2022)
Figure 8 Global Shrimp Market Share (%) By Regions (2022)
Figure 9 North America Shrimp Revenue (USD Million) By Country (2018-2022)
Figure 10 North America Shrimp Revenue (USD Million) By Type (2018-2022)
Figure 11 North America Shrimp Revenue (USD Million) By Applications (2018-2022)
Figure 12 Europe Shrimp Revenue (USD Million) By Country (2018-2022)
Figure 13 Europe Shrimp Revenue (USD Million) By Type (2018-2022)
Figure 14 Europe Shrimp Revenue (USD Million) By Applications (2018-2022)
Figure 15 Asia Pacific Shrimp Revenue (USD Million) By Country (2018-2022)
Figure 16 Asia Pacific Shrimp Revenue (USD Million) By Type (2018-2022)
Figure 17 Asia Pacific Shrimp Revenue (USD Million) By Applications (2018-2022)
Figure 18 South America Shrimp Revenue (USD Million) By Country (2018-2022)
Figure 19 South America Shrimp Revenue (USD Million) By Type (2018-2022)
Figure 20 South America Shrimp Revenue (USD Million) By Applications (2018-2022)
Figure 21 Middle East and Africa Shrimp Revenue (USD Million) By Region (2018-2022)
Figure 22 Middle East and Africa Shrimp Revenue (USD Million) By Type (2018-2022)
Figure 23 Middle East and Africa Shrimp Revenue (USD Million) By Applications (2018-2022)
Figure 24 Global Shrimp Revenue (USD Million) By Type (2023-2030)
Figure 25 Global Shrimp Revenue Market Share (%) By Type (2030)
Figure 26 Global Shrimp Revenue (USD Million) By Applications (2023-2030)
Figure 27 Global Shrimp Revenue Market Share (%) By Applications (2030)
Figure 28 Global Shrimp Market Revenue (USD Million) By Regions (2023-2030)
Figure 29 North America Shrimp Revenue (USD Million) By Country (2023-2030)
Figure 30 North America Shrimp Revenue (USD Million) By Type (2023-2030)
Figure 31 North America Shrimp Revenue (USD Million) By Applications (2023-2030)
Figure 32 Europe Shrimp Revenue (USD Million) By Country (2023-2030)
Figure 33 Europe Shrimp Revenue (USD Million) By Type (2023-2030)
Figure 34 Europe Shrimp Revenue (USD Million) By Applications (2023-2030)
Figure 35 Asia Pacific Shrimp Revenue (USD Million) By Country (2023-2030)
Figure 36 Asia Pacific Shrimp Revenue (USD Million) By Type (2023-2030)
Figure 37 Asia Pacific Shrimp Revenue (USD Million) By Applications (2023-2030)
Figure 38 South America Shrimp Revenue (USD Million) By Country (2023-2030)
Figure 39 South America Shrimp Revenue (USD Million) By Type (2023-2030)
Figure 40 South America Shrimp Revenue (USD Million) By Applications (2023-2030)
Figure 41 Middle East and Africa Shrimp Revenue (USD Million) By Region (2023-2030)
Figure 42 Middle East and Africa Shrimp Revenue (USD Million) By Region (2023-2030)
Figure 43 Middle East and Africa Shrimp Revenue (USD Million) By Type (2023-2030)
Figure 44 Middle East and Africa Shrimp Revenue (USD Million) By Applications (2023-2030)
Figure 45 Bottom-Up and Top-Down Approaches for This Report
Figure 46 Data Triangulation
Type
Source
Size
Form
Sales Channel