Europe Shrimp Market: Comprehensive Study Explores Huge Growth in Future By 2027

According to the latest IMARC Group's research report, titled "Europe Shrimp Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027," The Europe shrimp market size reached 829.3 Kilo Tons in 2021. Looking forward, IMARC Group expects the market to reach 936.6 Kilo Tons by 2027, exhibiting a growth rate (CAGR) of 2.1% during 2022-2027.

Europe Shrimp Market Outlook:

Shrimp is a translucent clear, elongated invertebrate aquatic animal that belongs to the class of crustaceans. It is generally found near the seafloor, in rivers, lakes, and on certain coasts and is referred to as the most flavored and delicious delicacies from the seafood congregate. It plays an essential role in the food chain and is a vital source of nutrients for larger animals, such as fish and whales. Additionally, it is a rich source of phosphorus, antioxidants, proteins, iron, selenium, copper, magnesium, omega-3 fatty acids, and vitamins B that assists in losing weight, relieving eye fatigue, improving bone and brain health, lowering blood pressure, and minimizing the chances of developing cardiovascular diseases. As a result, it is widely used in the preparation of numerous food items, including salads, pasta, curry, soups, and stir-fried dishes.

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Europe Shrimp Market Demand:

The market in Europe is primarily driven by the increasing prevalence of cardiovascular diseases among the masses. Moreover, the growing consumer awareness and expanding aquaculture industry are further catalyzing the growth of the shrimp market. Besides this, the rising utilization of shrimp shells in the manufacturing of cosmetics and personal care products, such as creams and shampoos, is creating a positive market outlook.

Furthermore, numerous major companies are launching frozen and canned variants of shrimp using sustainable packaging solutions, which is gaining widespread prominence across the region. Along with this, the rising initiatives undertaken by the governments to promote fish farming across several countries are favorably impacting the market. Other factors, such as changing dietary patterns of the masses and the emerging e-commerce sector, are also influencing the market across Europe.

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Key Market Segmentation:

Breakup by Environment:

• Farmed
• Wild

Breakup by Domestic Production and Imports:

• Domestic Production
• Imports

Breakup by Species:

• Penaeus Vannamei
• Penaeus Monodon
• Macrobrachium Rosenbergii
• Others

Breakup by Product Categories:

• Peeled
• Shell-on
• Cooked
• Breaded
• Others

Breakup by Distribution Channel:

• Hypermarkets and Supermarkets
• Convenience Stores
• Hotels and Restaurants
• Online Stores
• Others

Competitive Landscape:

The competitive landscape of the market has also been analyzed in the report, covering the detailed profiles of the major players operative in the industry.

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This release was published on openPR.