Global Shrimp Market to Reach 13.16 Million Tons by 2032

Shrimp belongs to the group of arthropods and represents one of the most popular seafoods consumed across the world. It is highly nutritious and contains copper, zinc, sodium, selenium, magnesium, iron and vitamins such as A, B6, C, E and B12. In addition, it is also a good source of the carotenoid astaxanthin which has antioxidant and anti-inflammatory properties. Shrimp offers myriad health benefits such as weight management, improved bone and brain health and lowered risk of cardiovascular disease. Owing to the aforementioned benefits, shrimp forms a vital part of various cuisines and has emerged as a high-value product among consumers.

The global demand for shrimp has witnessed fluctuating trends during the past five years. The global shrimp production declined in 2012, primarily in the markets of China, Thailand, Vietnam and Mexico. This was due to the prevalence of EMS disease (Early Mortality Syndrome) that originated in China. Nevertheless, the market witnessed a strong rebound in the year 2014, but a minor decline in 2016. One of the major factors that has proved proactive in maintaining a stable market growth is consumers’ pursuit of a healthy lifestyle. Some of the other growth inducing factors include rapid urbanisation, improved cold storage facilities as well as its easy availability.

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Key findings from the report:

• Different species of shrimp are penaeus vannamei, penaeus monodon, and macrobrachium rosenbergii, among others. In 2020, penaeus vannamei (or white-leg shrimp) represented the species with the highest production volumes. It was followed by penaeus monodon (or black tiger shrimp), macrobrachium rosenbergii and other species.

• Country-wise, China exhibited a clear dominance in the market with a share of around one-third of the total global shrimp production. Some of the other major markets include Vietnam, India, Indonesia, Ecuador, Thailand and Others.

• Being fragmented in nature, the global shrimp market is surrounded by a number of players. Some of the top players include Mazzetta Company, LLC, Apex Frozen Foods Ltd., Seaprimexco Vietnam, Liveris Afentoulis & Co., Grand Ocean Seafoods Co., Ltd, Charoen Pokphand Foods PCL, Grupo Iberica Congelados, S.A, and Ocean More Foods Co., Limited, among others.

Expert Market Research has analysed the global shrimp market according to type, species, product category, distribution channel, region, and top players:

Market breakup by Type:

• Wild Shrimp

• Farmed Shrimp

Market breakup by Species:

• Penaeus Vannamei

• Penaeus Monodon

• Macrobrachium Rosenbergii

• Others

Market breakup by Product Category:

• Peeled

• Shell-on

• Cooked

• Breaded

• Others

Market breakup by Distribution Channel:

• Hypermarkets and Supermarkets

• Convenience Stores

• Hotels and Restaurants

• Online

• Others

Market breakup by Region:

• North America

• Europe

• Asia Pacific

• Latin America

• Middle East and Africa

Top players:

• Mazzetta Company, LLC

• Apex Frozen Foods Ltd.

• Seaprimexco Vietnam

• Liveris Afentoulis & Co.

• Grand Ocean Seafoods Co., Ltd

• Charoen Pokphand Foods PCL

• Grupo Iberica Congelados, S.A

• Ocean More Foods Co., Limited

• Aqua Star

• Pacific Seafood

• Santa Priscila

• Thai Union Group PCL

• Others

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