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The global shrimp market, volume at 8.08 Million Tons in 2024, has seen considerable growth, because shrimp is a high-protein, low-fat food rich in essential nutrients such as vitamins, minerals, and omega-3 fatty acids, promoting healthy diets. The market is projected to grow at a CAGR of 6.30% from 2025 to 2034, potentially reaching 14.88 Million Tons by 2034, owing to the increased demand for seafood items and the growing adoption of environmentally friendly methods for shrimp farming.
Base Year
Historical Year
Forecast Year
Value in Million Tons
2025-2034
Shrimp Market Outlook
*this image is indicative*
Global Shrimp Market Report Summary | Description | Value |
Base Year | Million Tons | 2023 |
Historical Period | Million Tons | 2018-2024 |
Forecast Period | Million Tons | 2025-2034 |
Market Size 2024 | Million Tons | 7.60 |
Market Size 2034 | Million Tons | 13.17 |
CAGR 2018-2024 | Percentage | XX% |
CAGR 2025-2034 | Percentage | 6.3% |
CAGR 2025-2034 - Market by Region | Asia Pacific | 7.1% |
CAGR 2025-2034 - Market by Country | India | 7.9% |
CAGR 2025-2034 - Market by Country | China | 6.8% |
CAGR 2025-2034 - Market by Type | Farmed Shrimp | 6.9% |
CAGR 2025-2034 - Market by Distribution Channel | Online | 8.3% |
Market Share by Country 2023 | Italy | 4.6% |
The shrimp market offers numerous benefits, including economic growth through job creation and export revenue, particularly in producing countries. It provides millions of employment opportunities and supports international trade. Shrimp's nutritional value, versatility in cooking, and health benefits contribute to its widespread popularity. The market encourages sustainability by enhancing farming practices, which help reduce overfishing. Aquaculture has alleviated the pressure on wild shrimp populations, while technological advancements have improved farming efficiency. As per the Department of Fisheries, USD 62.67 million has been allocated under the Pradhan Mantri Matsya Sampada Yojana (PMMSY) to expand shrimp aquaculture by 4,000 hectares in saline areas across Haryana, Punjab, Rajasthan, and Uttar Pradesh in India.
Shrimp farming contributes to economic diversification, strengthens local economies, and enhances food security by offering a dependable and nutritious protein source, thereby influencing the shrimp market dynamics and trends. Additionally, small-scale shrimp farms empower developing communities, contributing to poverty reduction and cultural practices. The global market ensures wider consumer access, making shrimp increasingly available across various sectors.
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Growth of organic and sustainable shrimp production, rising demand for frozen and processed shrimp, and a focus on traceability and transparency are all contributing to the shrimp market value.
As consumers become more health-conscious and environmentally aware, the demand for organic and sustainably sourced shrimp is rising. This trend encourages producers to adopt eco-friendly practices, improve traceability, and minimise environmental impact, boosting market competitiveness. Certifications like ASC and BAP promote sustainable practices and spur producers to adopt greener farming methods.
Innovations in shrimp farming, such as recirculating aquaculture systems (RAS) and automation, are improving production efficiency, reducing disease risks, and increasing yields. These advancements make shrimp farming more sustainable and profitable. According to the FAO, China became the top importer of shrimp in early 2023, with imports rising by 33.5% to 254,230 tons compared to 2022.
Global demand for frozen and processed shrimp is increasing, driven by convenience and extended shelf life. This encourages manufacturers to invest in processing technologies that enhance quality while catering to consumer preferences for quick, ready-to-cook meals. In April 2024, Pacific Seafood launched a new range of frozen shrimp products to meet the growing demand for convenient meal solutions.
As consumers seek more transparency regarding the sourcing of their food, including shrimp, companies are implementing traceability systems to ensure responsible sourcing practices. New regulations from the European Commission, effective from February 2024, require enhanced traceability for imported seafood, including shrimp, to ensure sustainability and ethical sourcing.
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The EMR’s report titled “Global Shrimp Market Report and Forecast 2025-2034” offers a detailed analysis of the market based on the following segments:
Market Breakup by Type
Market Breakup by Species
Market Breakup by Product Category
Market Breakup by Distribution Channel
Market Breakup by Region
CAGR 2025-2034 - Market by | Country |
India | 7.9% |
China | 6.8% |
USA | 6.6% |
Brazil | 6.5% |
UK | 6.3% |
Canada | XX% |
Germany | XX% |
France | XX% |
Japan | XX% |
Australia | XX% |
Saudi Arabia | XX% |
Mexico | 5.8% |
Italy | 5.7% |
According to the shrimp market analysis, wild shrimp are renowned for their superior taste and nutritional benefits, being rich in omega-3 fatty acids, protein, and essential vitamins. They are often considered more sustainable than farmed shrimp due to responsible fishing practices that help preserve marine ecosystems. This makes them a popular choice among health-conscious consumers. In 2022, the U.S. wild shrimp industry generated approximately USD 329 million in revenue, underscoring its economic significance and the need for sustainable practices to ensure ongoing profitability for local fishermen, according to NOAA Fisheries.
The growth of the shrimp market is driven by farmed shrimp, which offer a consistent supply to meet global demand, with a projected CAGR of 6.90% from 2024 to 2032. They are more cost-effective than wild shrimp and can be produced using controlled feeding practices that enhance growth rates and reduce environmental impact when managed sustainably. The global farmed shrimp market has been expanding at approximately 10% annually, driven by increasing demand for seafood as a protein source, making it one of the fastest-growing sectors in aquaculture, according to WWF, 2023.
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The shrimp market key players specialise in a wide range of seafood, including shrimp, fish, and shellfish. They are committed to providing high-quality, sustainably sourced products, working closely with global suppliers to ensure freshness and traceability. With a focus on innovation, these companies continuously enhance their operations, maintaining the highest food safety standards and addressing the growing demand for environmentally responsible seafood.
Based in Chicago, United States, and founded in 1976, it specialises in seafood and frozen foods, offering a range of products including shrimp and fish. The company is committed to sustainability, quality, and responsible sourcing, aiming to meet global demand with ethically produced products.
Established in 1995 and headquartered in India, Apex is a major exporter of frozen shrimp. Known for...
Founded in 1994, and based in Can Tho, Vietnam, Seaprimexco is a leading producer and exporter of sh...
Established in 1970 and based in Athens, Greece, the company operates in the seafood industry, focus...
*Please note that this is only a partial list; the complete list of key players is available in the full report. Additionally, the list of key players can be customized to better suit your needs.*
Other key players in the shrimp market report include 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, and Thai Union Group PCL, among others.
*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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In 2024, the shrimp market reached an approximate volume of 8.08 Million Tons.
The market is assessed to grow at a CAGR of 6.30% between 2025 and 2034.
The market is estimated to witness healthy growth in the forecast period of 2025-2034 to reach a volume of around 14.88 Million Tons by 2034.
The key drivers for the market include rising population, increasing demand from the food industry, growing disposable incomes, and the escalating demand for frozen shrimp products.
The rising health consciousness among the consumers and the growing awareness about the nutritious content of shrimp are the key trends in the market.
The major regions in the market are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
The major species in the market are Penaeus Vannamei, Penaeus Monodon, and Macrobrachium Rosenbergii, among others.
The animal's shell is made of chitin, a thin yet stiff exoskeleton material. They do not belong to the family of fish because they lack an inner skeleton. They belong to the same family as crabs and lobsters and have ten legs.
Prawns and shrimp are very different animals. While both shrimp and prawns are decapods, or animals with 10 legs and an external skeleton, shrimp belong to the Pleocyemata suborder and prawns to the Dendrobranchiata suborder.
The major players in the market are 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, and Thai Union Group PCL, among others.
Explore our key highlights of the report and gain a concise overview of key findings, trends, and actionable insights that will empower your strategic decisions.
REPORT FEATURES | DETAILS |
Base Year | 2024 |
Historical Period | 2018-2024 |
Forecast Period | 2025-2034 |
Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
|
Breakup by Type |
|
Breakup by Species |
|
Breakup by Product Category |
|
Breakup by Distribution Channel |
|
Breakup by Region |
|
Market Dynamics |
|
Competitive Landscape |
|
Companies Covered |
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Philippines
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Vietnam
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United States (Head Office)
30 North Gould Street, Sheridan, WY 82801
+1-415-325-5166
Australia
63 Fiona Drive, Tamworth, NSW
+61-448-061-727
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-858-608-1494
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.
+63-287-899-028, +63-967-048-3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84-865-399-124
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