Shrimp Market Deep Company Profiling of Leading Players 2022-2026

In recent years, health-related concerns have led consumers towards organic and nutritious meals. Now, foods with high nutritional value and those that are naturally sourced have witnessed an uptick in demand. In this context, the global shrimp market has observed robust growth. Presently, strong consumer preference for natural food products and the food and beverages industry's strategic move to capitalize this trend has created headways for growth across the global shrimp market. In terms of value, shrimp is one of the most-traded seafood items, securing its position as a protein-rich shellfish in the seafood industry. The health benefits of shrimp include presence of essential amino acids, low fat, and extremely high quality protein and minerals. Owing to these nutritional benefits, health-conscious consumers and opportunistic restaurant chains have propelled the shrimp market to steady maturity. Over the forecast period, the promising outlook of is poised to open fresh revenue streams and greater experimentation across the global shrimp market.

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Amid Rising Demand for Shrimp, Manufacturers Race to Expand Processing Capacities
During the COVID-19 pandemic, social distancing regulations, lockdowns, and breakdown of traditional supply chains presented challenges for the global shrimp market. With the food industry taking a hit during the pandemic, the shrimp market recorded flat growth across major regions of the shrimp market. However, increase in cooking meals at home opened a new demand channel in the shrimp market: home-based cooking. Lately, this is the primary reason for an increase in demand for shrimps. Over the study period, the pandemic-generated revenue setback is expected to be overcome through market diversification and change in buyer behavior. As the world emerges from the pandemic, the demand for shrimp is set to recover to pre-pandemic times, encouraging manufacturers to expand their processing capacities.

White Leg Shrimp Segment Dominates the Global Shrimp Market

The shrimp market is segmented on the basis of region, species type, sales channel, and format. As per species type, the farmed white leg shrimp is expected to account for the highest share in terms of value owing to high volume of export and production - a reason that is set to augment this segment growth in the foreseeable future. Further, in terms of format, the fresh shrimp segment is projected to reach sound maturity by the end of assessment period. Increased health-awareness among consumers is the major reason why this segment is set to register the most promising growth over the forecast period. Moreover, the rapidly maturing trend of shopping online is expected to shape the sales channel of the global shrimp market along the digital curve.

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Asia Pacific Leads Global Production of Shrimp
Countries in the Asia Pacific, particularly China, India, Thailand, and Indonesia are the most significant producers and exporters of shrimp across the world. Recently, Ecuador has also joined the race of being an emerging exporter of shrimp. During the study period, demand for shrimp is expected to be the most pronounced in the U.S. and EU. To meet the surge in demand, manufacturers plan to strategically invest in large-scale export farming.

Prominent Market Players

The major market players in the global shrimp market include Gulf Shrimp Company, The Clover Leaf Seafoods Family, Omarsa S.A, Nippon Suisan Kaisha, Ltd., Baton Rouge Shrimp Company, Inc., Dom International Limited, Charoen Pokphand Food PCL, Pescanova S.A., Marine Harvest ASA, and Ristic GmbH.

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By Type

• Pink
• Brown
• White
• Others

By Source

• Cold Water
• Hot Water

By Form

• Frozen
• Canned

By Distribution Channel

• Hypermarkets and Supermarkets
• Convenience Stores
• Specialty Stores
• Online Sales Channel

By End Use

• Residential
• Commercial

By Region

• North America
• Europe
• Asia Pacific
• The Middle East and Africa
• Rest of the World

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