The Reports and Insights, a leading market research company, has recently releases report titled “Shrimp Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2031.” The study provides a detailed analysis of the industry, including the global Shrimp Market Analysis share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
Report Highlights:
How big is the Shrimp Market?
The shrimp market was US$ 27.5 Bn in 2022. Furthermore, the shrimp market to register revenue CAGR of 5.6% over the forecast period and account for market size of US$ 44.9 Bn in 2031.
What are Shrimp?
Shrimp are small crustaceans from the order Decapoda, found in both saltwater and freshwater habitats. They have elongated bodies, semi-transparent exoskeletons, flexible abdomens, and long antennae. Shrimp are vital in aquatic ecosystems, serving as a primary food source for many fish and marine species. They are also a significant seafood commodity for humans, valued for their culinary versatility and high nutritional content, including protein, vitamins, and minerals. Shrimp farming and fishing are key economic activities in numerous coastal areas worldwide.
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What are the growth prospects and trends in the Shrimp industry?
The shrimp market growth is driven by various factors and trends. The shrimp market is a thriving sector fueled by the global appetite for seafood and the growing preference for shrimp as a nutritious and versatile food choice. It includes both wild-caught and farmed shrimp, with major production hubs in countries such as China, Thailand, Vietnam, and India. The market is impacted by factors like trade policies, sustainability concerns, and advances in aquaculture technology. As consumers increasingly seek healthier and eco-friendly food options, the shrimp market continues to expand, driven by innovations in farming practices and supply chain management that improve efficiency and quality. Additionally, heightened awareness of environmental issues and seafood traceability is influencing the market's future trajectory. Hence, all these factors contribute shrimp market growth.
What is included in market segmentation?
The report has segmented the market into the following categories:
By Type:
- Pink
- White
- Brown
- Others
By Form:
- Frozen
- Canned
By End-user:
- Residential
- Commercial
By Distribution Channel:
- Hypermarkets/Supermarkets
- Convenience Stores
- Specialty Stores
- Online Sales Channels
By Region:
North America
- United States
- Canada
Europe
- Germany
- United Kingdom
- France
- Italy
- Spain
- Russia
- Poland
- Benelux
- Nordic
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- South Korea
- ASEAN
- Australia New Zealand
- Rest of Asia Pacific
Latin America
- Brazil
- Mexico
- Argentina
- Rest of Latin America
Middle East Africa
- Saudi Arabia
- South Africa
- United Arab Emirates
- Israel
- Rest of MEA
Who are the key players operating in the industry?
The report covers the major market players including:
- Aqua Star Corp.
- Avanti Feeds Ltd.
- Clearwater Seafoods Inc.
- High Liner Foods Inc.
- Marine Harvest
- Maruha Nichiro Corporation
- Nippon Suisan Kaisha
- Nordic Seafoods A/S
- Surapon Foods
- Thai Union Group
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