Shrimp Market To Reflect Significant Incremental Opportunity During 2019-2025 And The Top Key Players Are Marvesta Shrimp Farms, Cargill, Incorporated, and Nippon Suisan Kaisha Ltd.

Shrimp Market – Insights
Shrimps are classified as decapod crustaceans that play important roles in the food chain and are an important food source for larger animals ranging from fish to whales. Humans consume the muscular tails of several shrimp that are widely caught and farmed for consumption. Around 20% 0f the species are commercially significant that include Whiteleg, giant tiger prawn, akiami paste shrimp, southern rough shrimp, and others. Based on their categorization of presentation, grading, colour, and uniformity, most shrimp are sold frozen and marketed for high levels of omega-3 fatty acids and low levels of mercury along with proteins, vitamin A and B6, B12, C and E, thiamin, riboflavin, niacin, phosphorous, copper, choline, iodine, and astaxanthin. Furthermore, it has anti-inflammatory, anti-ageing, and anti-cancer properties.

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𝑴𝒂𝒋𝒐𝒓 𝒑𝒍𝒂𝒚𝒆𝒓𝒔 𝒐𝒑𝒆𝒓𝒂𝒕𝒊𝒏𝒈 𝒊𝒏 𝒕𝒉𝒆 𝒈𝒍𝒐𝒃𝒂𝒍 𝒔𝒉𝒓𝒊𝒎𝒑 𝒎𝒂𝒓𝒌𝒆𝒕 𝒂𝒓𝒆 𝑷𝒂𝒄𝒊𝒇𝒊𝒄 𝑺𝒆𝒂𝒇𝒐𝒐𝒅, 𝑴𝒐𝒓𝒖𝒃𝒆𝒍 𝒏𝒗, 𝑴𝒂𝒓𝒖𝒉𝒂 𝑵𝒊𝒄𝒉𝒊𝒓𝒐 𝑪𝒐𝒓𝒑𝒐𝒓𝒂𝒕𝒊𝒐𝒏, 𝑻𝒉𝒆 𝑪𝒍𝒐𝒗𝒆𝒓 𝑳𝒆𝒂𝒇 𝑺𝒆𝒂𝒇𝒐𝒐𝒅𝒔 𝑭𝒂𝒎𝒊𝒍𝒚, 𝑹𝒐𝒚𝒂𝒍 𝑮𝒓𝒆𝒆𝒏𝒍𝒂𝒏𝒅 𝑨/𝑺, 𝑹𝒊𝒄𝒉 𝑷𝒓𝒐𝒅𝒖𝒄𝒕𝒔 𝑪𝒐𝒓𝒑𝒐𝒓𝒂𝒕𝒊𝒐𝒏, 𝑻𝒉𝒂𝒊 𝑼𝒏𝒊𝒐𝒏 𝑮𝒓𝒐𝒖𝒑 𝑷𝑪𝑳, 𝑴𝒂𝒓𝒗𝒆𝒔𝒕𝒂 𝑺𝒉𝒓𝒊𝒎𝒑 𝑭𝒂𝒓𝒎𝒔, 𝑪𝒂𝒓𝒈𝒊𝒍𝒍, 𝑰𝒏𝒄𝒐𝒓𝒑𝒐𝒓𝒂𝒕𝒆𝒅, 𝒂𝒏𝒅 𝑵𝒊𝒑𝒑𝒐𝒏 𝑺𝒖𝒊𝒔𝒂𝒏 𝑲𝒂𝒊𝒔𝒉𝒂 𝑳𝒕𝒅.

High nutritional benefits of shrimp along with increasing applications of chitosan and pigments obtained from shrimp are driving growth of the shrimp market. Moreover, growing consumption of seafood and increasing aquaculture industry are further fuelling growth of the shrimp market. For instance, according to United Nations Food and Agriculture Organization (UN FAO) survey in July 2016, the global per capita seafood consumption increased above 20 kg per person per year.

Food segment was the largest application segment in 2016, owing to growing demand from restaurants and fast food chains for shrimps along with rising popularity of frozen and canned shrimps. According to the UN FAO, the global aquaculture production of food fish was recorded to 73,681 thousand units in 2014. In addition, shrimps have high content of omega-3 fat including EPA (Eicosapentaenoic Acid) and DHA (Docosahexaenoic Acid), which aids in improving cardiovascular and nervous system health. Rising awareness regarding health benefits of consuming omega-3 ingredients and fish-oil as food supplement is anticipated to boost growth of the food segment over the forecast period.

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Market players in the global shrimp market are adopting various strategies such as merger and acquisitions, collaborations, and new product launches to retain their market share. For instance, in February 2014, Marubeni Corporation acquired Eastern Fish Company. In June 2017, BioMar Group acquired 70% of Alimentsa for US$ 121 million; and in October 2014, Alkame Holdings, Inc. acquired High Country Shrimp Company. Also, in July 2017, Guangdong Bai Da Science & Technology launched BD shrimp brand in China.

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