Shrimp Market Size, Share, Industry, Forecast (2024-2031)

Market Overview:
The global shrimp market experienced substantial growth, reaching US$ 56,875 million in 2022, with projections indicating further expansion to US$ 85,319 million by 2030, boasting a CAGR of 5.2% during the forecast period of 2024-2031.

Market Trends:

Rising Demand For High Protein Diet And Sustainable Seafood Choices
Consumer preferences are shifting towards high-protein diets and sustainable seafood options, propelling market growth. Manufacturers are innovating to meet this demand, introducing protein-rich shrimp products. Shrimp, renowned for their nutritional benefits, are rich in protein and various essential vitamins and minerals, aligning with health-conscious consumer trends.
Stringent Trade Restrictions Are Holding Back The Shrimp Market Growth:

Trade barriers, particularly imposed by entities like the European Union, hinder market expansion by limiting market access and reducing demand for shrimp exports. Stringent regulations based on environmental and food safety standards impact major shrimp-producing countries, such as India, Vietnam, and Bangladesh, affecting global trade dynamics.

For more Insights: https://www.datamintelligence.com/download-sample/shrimp-market

Market Segmentation:

Frozen Shrimp Segment Dominates Global Market Share
The market segmentation is based on type, form, end-user, distribution channel, and region. Frozen shrimp holds the largest market share due to its year-round availability, ease of storage, and transportation advantages. The global trade of frozen shrimp has witnessed steady growth, accounting for a significant portion of the total global shrimp trade value.

Geographical Analysis:

North America Emerges as Dominant Region

North America leads in revenue share, attributed to increasing demand for white shrimp. The United States, a key player in the market, heavily relies on shrimp imports, with significant contributions from countries like Thailand, China, and Vietnam. Shrimp consumption in the US is notably high, comprising a substantial portion of the seafood market.

To access the complete report: https://www.datamintelligence.com/research-report/shrimp-market

Competitive Landscape:

Key players in the global shrimp market include Aqua Star, Avanti Feeds Ltd., Clearwater Seafoods, High Liner Foods Inc, Mazzetta Company, LLC, Nordic Seafood A/S, Maruha Nichiro Corporation, Surapon Foods, Thai Union Group, and Nippon Suisan Kaisha, shaping the competitive dynamics through their market presence and innovations.

Related Reports:

Propolis Market: https://datamintelligence.com/research-report/propolis-market

Micellar Casein Market: https://datamintelligence.com/research-report/micellar-casein-market

Curcumin Market: https://datamintelligence.com/research-report/curcumin-market

Dairy Enzymes Market: https://datamintelligence.com/research-report/dairy-enzymes-market

Tomato Ketchup Market: https://datamintelligence.com/research-report/tomato-ketchup-market

Sugar-Free Confectionery Market: https://datamintelligence.com/research-report/sugar-free-confectionery-market

Contact Us -
Company Name: DataM Intelligence
Email: info@datamintelligence.com
Phone: +1 877 441 4866
Website: DataMIntelligence

About Us -
DataM Intelligence 4Market Research is a Market Research and Consulting firm that provides end-to-end business solutions to organizations from Research to Consulting. We, at DataM Intelligence, leverage our top trademark trends, insights and developments to emancipate swift and astute solutions to clients like you. We encompass a multitude of syndicate reports and customized reports with a robust methodology.
Our research database features countless statistics and in-depth analyses across a wide range of 6300+ reports in 40+ domains creating business solutions for more than 200+ companies across 50+ countries; catering to the key business research needs that influence the growth trajectory of our vast clientele.

This release was published on openPR.