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Report Overview

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.

2024

Base Year

2018-2024

Historical Year

2025-2034

Forecast Year

  • In 2023, China’s shrimp production reached 1 million metric tons, driven by innovations in recirculating aquaculture systems (RAS) that boost efficiency and allow for year-round production. These advancements cater to increasing domestic demand and strengthen China’s position as a key global supplier of both fresh and processed shrimp, according to FAO Globefish, January 2024.
  • Mexico produced around 200,000 metric tons of shrimp in 2023, with a focus on sustainable farming practices to improve quality and yield. This commitment to sustainability and high-quality production has boosted Mexico's exports, supported economic growth, and met the growing global demand for responsibly sourced seafood, according to industry reports.
  • Thailand’s shrimp production reached 400,000 metric tons in 2023, with a focus on black tiger and Pacific white shrimp. Its strong aquaculture sector generates significant export revenue, while its emphasis on sustainability enhances the country’s reputation with international buyers, according to the Thai Department of Fisheries Report, December 2023.

Compound Annual Growth Rate

Value in Million Tons

6.3%

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%

Global Shrimp Market Growth

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.

Shrimp Market

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Key Trends and Recent Developments

Shrimp Market By Segments

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Global Shrimp Industry Segmentation

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

  • 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
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%

Global Shrimp Market Share

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.

Shrimp Market By Region

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Competitive Landscape

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.

Mazzetta Company, LLC

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.

Apex Frozen Foods Ltd.

Established in 1995 and headquartered in India, Apex is a major exporter of frozen shrimp. Known for...

Seaprimexco Vietnam

Founded in 1994, and based in Can Tho, Vietnam, Seaprimexco is a leading producer and exporter of sh...

Liveris Afentoulis & Co.

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.

Shrimp Market Report Snapshots

Shrimp Market Size

Shrimp Market Growth

Shrimp Companies

*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 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.

Report Summary

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.

Key Highlights of the Report

Please note that the figures mentioned in the description serve as estimates and may vary from the actual figures presented in the final report.

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:

  • Type
  • Species
  • Product Category
  • Distribution Channel
  • Region
Breakup by Type
  • Wild Shrimp
  • Farmed Shrimp
Breakup by Species
  • Penaeus Vannamei
  • Penaeus Monodon
  • Macrobrachium Rosenbergii
  • Others
Breakup by Product Category
  • Peeled
  • Shell-on
  • Cooked
  • Breaded
  • Others
Breakup by Distribution Channel
  • Hypermarkets and Supermarkets
  • Convenience Stores
  • Hotels and Restaurants
  • Online
  • Others
Breakup by Region
  • North America
    • United States of America 
    • Canada
  • Europe
    • United Kingdom
    • Germany
    • France
    • Italy
    • Others
  • Asia Pacific
    • China
    • Japan
    • India
    • ASEAN
    • Australia
    • Others
  • Latin America
    • Brazil
    • Argentina
    • Mexico
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • United Arab Emirates
    • Nigeria
    • South Africa
    • Others
Market Dynamics
  • SWOT Analysis
  • Porter's Five Forces Analysis
  • Key Indicators for Demand
  • Key Indicators for Price
Competitive Landscape
  • Market Structure
  • Company Profiles
    • Company Overview
    • Product Portfolio
    • Demographic Reach and Achievements
    • Certifications
Companies Covered
  • 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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30 North Gould Street, Sheridan, WY 82801

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63 Fiona Drive, Tamworth, NSW

+61-448-061-727

C130 Sector 2 Noida, Uttar Pradesh 201301

+91-858-608-1494

40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.

+63-287-899-028, +63-967-048-3306

6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London

+44-753-713-2163

193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City

+84-865-399-124