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The global shrimp feed market size attained a value of nearly USD 9.93 Billion in 2024. The market is projected to grow at a CAGR of 5.50% between 2025 and 2034 and reach around USD 16.96 Billion by 2034.
2024
Base Year
2018-2024
Historical Year
2025-2034
Forecast Year
- The global population is expected to reach 8.5 billion by 2030 and 9.7 billion by 2050. An expanding population is increasing the consumption of shrimp products, raising the need to boost production.
- Cargill, Incorporated, Charoen Pokphand Foods Public Company Limited and Nutreco N.V. are some of the major companies in the market.
- More than 1.5 million metric tonnes of shrimp were obtained from marine aquaculture in China in 2022; of these, 1.3 million tonnes, or more than 80%, were L. vannamei.
Global Shrimp Feed Market Size
The global shrimp feed market attained a value of nearly USD 9.93 billion in 2023. The market is projected to grow at a CAGR of 5.5% between 2024 and 2032 and reach around USD 16.16 billion by 2032.
Key Takeaways
- The global population is expected to reach 8.5 billion by 2030 and 9.7 billion by 2050. An expanding population is increasing the consumption of shrimp products, raising the need to boost production.
- Cargill, Incorporated, Charoen Pokphand Foods Public Company Limited and Nutreco N.V. are some of the major companies in the market.
- More than 1.5 million metric tonnes of shrimp were obtained from marine aquaculture in China in 2022; of these, 1.3 million tonnes, or more than 80%, were L. vannamei.
The primary factors catalysing the global shrimp feed market growth are changing dietary patterns, rising health awareness among consumers, and increasing shrimp farming in Asian and Latin American countries. Moreover, the commercialisation of vannamei shrimp due to a strong demand from both the developing as well as the developed nations is driving shrimp feed demand.
Some of the factors driving the shrimp feed market growth are the increased demand for healthy shrimp and improving shrimp farming practices. Approximately 200 million tonnes of fish and seafood are produced annually worldwide. The demand for seafood, including shrimp, is growing steadily in countries such as Japan, the EU, and the US due to their nutritional profile and extraordinary protein content.
Shrimp Feed Market Report Snapshots
Shrimp Feed Market Regional Analysis
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
In 2024, the market value was nearly USD 9.93 Billion.
The market is assessed to grow at a CAGR of 5.50% between 2025 and 2034.
The market is estimated to witness a healthy growth in the forecast period of 2025-2034 to reach around USD 16.96 Billion by 2034.
The major drivers include the increasing development of innovative shrimp feed ingredients and surging investments in shrimp farming.
The key trends aiding the market include rising demand for seafood for its high protein content and escalating demand for organic shrimp feed.
The different types of shrimp feed include grower, finisher, and starter.
The major ingredients of shrimp feed include soybean meal, fish meal, wheat flour, and fish oil, among others.
The major players in the market include Cargill, Incorporated, Charoen Pokphand Foods Public Company Limited, Nutreco N.V. and BioMar Group, among others.
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