Organic Shrimp Market 2019-2027 Industry Trend and Demands Research Report

The organic shrimp market was valued at US$ 3.40 billion in 2019 and is projected to reach US$ 6.16 billion by 2027; it is expected to grow at a CAGR of 7.7% during the forecast period.

The organic shrimp market, by application, is segmented into food, pharmaceuticals, cosmetics, and others. The food segment is expected to dominate the organic shrimp market during the forecast period. The dominance of the food industry among the major applications of organics shrimps is attributed to its extensive popularity among sea food category and consumption in numerous cultures.

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Top Key Players:- Charoen Pokphand Foods PCL,High Liner Foods Incorporated,Maruha Nichiro Corporation,BLUE STAR SEAFOOD CO. LTD. (Blue Snow Food Co, Ltd.),The Clover Leaf Seafoods Family,Nippon Suisan Kaisha, Ltd,Royal Greenland A/S,Cooke Aquaculture,Seacore Seafood Inc.,Omarsa S.A.

APAC holds the largest share of the global organic shrimp market owing to growing awareness regarding the health benefits of organic shrimps. Countries such as Bangladesh, India, Vietnam, Malaysia, Indonesia, and the Philippines are the key exporters of organic shrimp globally. Supportive government initiatives contribute significantly to the growth of the organic shrimp market in this these countries.

Impact of COVID-19 on Organic Shrimp market

The organic shrimp market in APAC has witnessed a mixed impact of the COVID-19 outbreak. For instance, India witnessed a decline in the demand for wet market-based goods and products resulting in the decline in the shrimp prices owing to limited exporting opportunities. Whereas, the Indonesian market hardly witnessed any impact in the demand for shrimps and the prices fell sharply owing to the abundant supply as the international exporting plummeted.

The report segments the global organic shrimp market as follows:

By Species

• Gulf Shrimps
• Farmed Whiteleg Shrimps
• Banded Coral Shrimps
• Royal Red Shrimps

By Source

• Cold Water
• Warm Water

By Application

• Food
• Pharmaceutical
• Cosmetics
• Others

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This release was published on openPR.