Prawn Market Report 2024-2032: Industry Trends, Segmentation and Forecast Analysis

IMARC Group's report titled "𝐆𝐥𝐨𝐛𝐚𝐥 𝐈𝐧𝐝𝐮𝐬𝐭𝐫𝐲 𝐓𝐫𝐞𝐧𝐝𝐬, 𝐒𝐡𝐚𝐫𝐞, 𝐒𝐢𝐳𝐞, 𝐆𝐫𝐨𝐰𝐭𝐡, 𝐎𝐩𝐩𝐨𝐫𝐭𝐮𝐧𝐢𝐭𝐲 𝐚𝐧𝐝 𝐅𝐨𝐫𝐞𝐜𝐚𝐬𝐭 𝟐𝟎𝟐𝟒-𝟐𝟎𝟑𝟐". The global prawn market size reached 8.4 Million Tons in 2023. Looking forward, IMARC Group expects the market to reach 10.9 Million Tons by 2032, exhibiting a growth rate (CAGR) of 2.9% during 2024-2032.

𝐅𝐚𝐜𝐭𝐨𝐫𝐬 𝐀𝐟𝐟𝐞𝐜𝐭𝐢𝐧𝐠 𝐭𝐡𝐞 𝐆𝐫𝐨𝐰𝐭𝐡 𝐨𝐟 𝐭𝐡𝐞 𝐏𝐫𝐚𝐰𝐧 𝐈𝐧𝐝𝐮𝐬𝐭𝐫𝐲: 

• 𝐆𝐫𝐨𝐰𝐢𝐧𝐠 𝐂𝐨𝐧𝐬𝐮𝐦𝐞𝐫 𝐃𝐞𝐦𝐚𝐧𝐝 𝐟𝐨𝐫 𝐒𝐞𝐚𝐟𝐨𝐨𝐝: 

One of the primary factors driving the global prawn market is the increasing consumer demand for seafood, including prawns. Seafood is widely appreciated for its taste, nutritional value, and versatility in various cuisines around the world. Prawns, in particular, are a popular choice due to their succulent texture and sweet flavor. As global incomes rise and dietary preferences evolve, more individuals are incorporating seafood into their diets. This trend is especially prominent in emerging markets, where urbanization and higher disposable incomes have led to a shift from traditional diets to a more protein-rich and diverse food intake. Prawns are perceived as a healthy source of protein, low in fat, and rich in essential nutrients such as omega-3 fatty acids, making them an attractive choice for health-conscious consumers. 

• 𝐀𝐪𝐮𝐚𝐜𝐮𝐥𝐭𝐮𝐫𝐞 𝐄𝐱𝐩𝐚𝐧𝐬𝐢𝐨𝐧 𝐚𝐧𝐝 𝐒𝐮𝐬𝐭𝐚𝐢𝐧𝐚𝐛𝐥𝐞 𝐏𝐫𝐚𝐜𝐭𝐢𝐜𝐞𝐬: 

Another significant driver of the global prawn market is the expansion of prawn aquaculture, coupled with an increasing emphasis on sustainability. Traditional methods of prawn harvesting, such as wild capture, have limitations in terms of scalability and environmental impact. To meet the growing demand, the prawn industry has turned to aquaculture as a sustainable solution. Prawn aquaculture involves the controlled breeding and rearing of prawns in carefully managed environments, such as ponds or recirculating aquaculture systems. This approach allows for higher production volumes while minimizing the depletion of wild prawn populations. It also provides a consistent supply of prawns throughout the year, reducing seasonality constraints. 

• 𝐄𝐱𝐩𝐨𝐫𝐭 𝐎𝐩𝐩𝐨𝐫𝐭𝐮𝐧𝐢𝐭𝐢𝐞𝐬 𝐚𝐧𝐝 𝐆𝐥𝐨𝐛𝐚𝐥 𝐓𝐫𝐚𝐝𝐞: 

The global prawn market has witnessed significant growth due to the expansion of export opportunities and increased international trade. Prawn-producing countries are capitalizing on their competitive advantages to tap into international markets, thereby driving market expansion. Countries such as India, Thailand, and Vietnam have emerged as major prawn exporters, due to their cost-effective production methods and access to key international markets. These countries have also invested in improving processing and packaging facilities to meet international quality and safety standards, boosting their export potential. 

𝐅𝐨𝐫 𝐚𝐧 𝐢𝐧-𝐝𝐞𝐩𝐭𝐡 𝐚𝐧𝐚𝐥𝐲𝐬𝐢𝐬, 𝐲𝐨𝐮 𝐜𝐚𝐧 𝐫𝐞𝐟𝐞𝐫 𝐬𝐚𝐦𝐩𝐥𝐞 𝐜𝐨𝐩𝐲 𝐨𝐟 𝐭𝐡𝐞 𝐫𝐞𝐩𝐨𝐫𝐭: https://www.imarcgroup.com/tooling-board-market/requestsample

𝐏𝐫𝐚𝐰𝐧 𝐌𝐚𝐫𝐤𝐞𝐭 𝐑𝐞𝐩𝐨𝐫𝐭 𝐒𝐞𝐠𝐦𝐞𝐧𝐭𝐚𝐭𝐢𝐨𝐧: 

IMARC Group provides an analysis of the key trends in each segment of the global prawn market report, along with forecasts from 2024-2032. Our report has categorized the market based on producing and consuming regions, species and prawn size. 

𝐄𝐱𝐩𝐥𝐨𝐫𝐞 𝐅𝐮𝐥𝐥 𝐑𝐞𝐩𝐨𝐫𝐭 𝐰𝐢𝐭𝐡 𝐓𝐚𝐛𝐥𝐞 𝐨𝐟 𝐂𝐨𝐧𝐭𝐞𝐧𝐭: https://www.imarcgroup.com/prefeasibility-report-prawn-processing-plant

𝐆𝐥𝐨𝐛𝐚𝐥 𝐏𝐫𝐚𝐰𝐧 𝐌𝐚𝐫𝐤𝐞𝐭 𝐓𝐫𝐞𝐧𝐝𝐬: 

The health and nutritional benefits associated with prawns are driving their market growth. Prawns are a rich source of essential nutrients such as vitamins, minerals, and high-quality protein. They are particularly known for being low in saturated fat and an excellent source of omega-3 fatty acids, which have been linked to various health benefits, including heart health and brain function. Additionally, the global prawn market is being driven by culinary diversity and innovation. Prawns are prized for their versatility in cooking and can be prepared in numerous ways, from grilling and frying to sautéing and boiling. This versatility has made prawns a favorite ingredient among chefs and home cooks alike. 

𝐍𝐨𝐭𝐞: 𝐈𝐟 𝐲𝐨𝐮 𝐧𝐞𝐞𝐝 𝐬𝐩𝐞𝐜𝐢𝐟𝐢𝐜 𝐢𝐧𝐟𝐨𝐫𝐦𝐚𝐭𝐢𝐨𝐧 𝐭𝐡𝐚𝐭 𝐢𝐬 𝐧𝐨𝐭 𝐜𝐮𝐫𝐫𝐞𝐧𝐭𝐥𝐲 𝐰𝐢𝐭𝐡𝐢𝐧 𝐭𝐡𝐞 𝐬𝐜𝐨𝐩𝐞 𝐨𝐟 𝐭𝐡𝐞 𝐫𝐞𝐩𝐨𝐫𝐭, 𝐰𝐞 𝐰𝐢𝐥𝐥 𝐩𝐫𝐨𝐯𝐢𝐝𝐞 𝐢𝐭 𝐭𝐨 𝐲𝐨𝐮 𝐚𝐬 𝐚 𝐩𝐚𝐫𝐭 𝐨𝐟 𝐭𝐡𝐞 𝐜𝐮𝐬𝐭𝐨𝐦𝐢𝐳𝐚𝐭𝐢𝐨𝐧.

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