Prominent Frozen Shrimp Market Trend for 2025: Innovation in the Frozen Shrimp Market By Introducing Frozen Shrimp Dumplings

What Are the Projected Growth and Market Size Trends for the Frozen Shrimp Market?
The size of the frozen shrimp market has seen substantial growth over the past few years. The market is set to expand from $24 billion in 2024 to $26.23 billion in 2025, with a Compound Annual Growth Rate (CAGR) of 9.3%. This growth previously observed was due to various factors, such as the growing customer demand for convenience foods, the expansion of global aquaculture, advancements in transportation infrastructure, more liberal trade policies, heightened health awareness, increased popularity of seafood dishes, and improved supply chain logistics.

Expectations are high for robust growth in the frozen shrimp market over the next several years, with projections stating it will expand to $36.94 billion by 2029, exhibiting a compound annual growth rate (CAGR) of 8.9%. The predicted surge within this period is linked to shifting consumer tendencies towards healthier and easily accessible seafood alternatives, globally increasing demand for seafood, growth in aquaculture production, improved disposable incomes, enhanced distribution channels, regulatory changes affecting shrimp farming techniques, and burgeoning demand in emerging markets. The progress within the forecast period is likely to be characterized by the use of innovative freezing technologies, developments in genetic technologies and selective breeding procedures, improvements in food packaging techniques, progress in cold chain logistics, and implementation of blockchain technology.

What Are the Main Catalysts for Growth in the Frozen Shrimp Market?
The growth of the frozen shrimp market is anticipated to be propelled by the rising demand for convenience foods. These are meals that require little to no preparation, thereby saving both time and effort, a feature particularly valued by busy individuals and families who have little time to spare for cooking. Convenience foods owe their popularity to the fast, easy meal solutions they provide. Frozen shrimp plays a crucial role in this sector by offering a flexible, time-efficient, and constantly superior quality ingredient that enhances shelf life and simplifies the process of meal preparation. To illustrate, in April 2024, the National Association of Convenience Stores, a US-based organization that represents the convenience and fuel retailing industry, reported that in 2023, foodservice sales, which encompass prepared foods, commissary items, and dispensed beverages, accounted for 26.9% of in-store sales, marking an upsurge from 25.6% in 2022. Furthermore, sales of prepared foods per store per month burgeoned by 12.2% in 2023 in comparison to the previous year. Therefore, the mounting demand for convenience foods is projected to stimulate the frozen shrimp market.

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Which Leading Companies Are Shaping the Growth of the Frozen Shrimp Market?
Major companies operating in the frozen shrimp market are Thai Union Group PCL, Austevoll Seafood ASA, Pacific Seafood, High Liner Foods Inc., Royal Greenland A/S, Clearwater Seafoods, Moon Environment Technology Co. Ltd., Skaginn 3X, Devi Seafoods Ltd., Ocean Choice International (OCI), Omarsa S.A., Surapon Foods Plc., Apex Frozen Foods Limited, Aqua Star, Carsoe, CMP Equipment, Nordic Seafood A/S, Minh Phu Seafood Corporation, Blue Star Seafood Co. Ltd., SeaPak Shrimp Company, Advanced Equipment Inc., Torry Harris Inc., Indus Refrigeration, Josmar, Grand Ocean Seafoods Co. Ltd

What Are the Major Trends Shaping the Frozen Shrimp Market?
Key players in the frozen shrimp industry are introducing novel products, such as frozen dumplings, to meet the increasing consumer demand for convenient, high-quality seafood alternatives appropriate for simple and quick meal preparations. Frozen dumplings are frequently pre-made and partially cooked before being frozen to maintain their freshness and prolong their usability. For example, in May 2024, frozen food manufacturers in China, Sanquan Food Co. Ltd. and Synear, rolled out frozen shrimp dumplings, advertising them as nutritious options for children. These dumplings are aimed at tapping into the booming Chinese kids' food sector, where there is a rising demand for easy-to-prepare, healthy, and appealing food choices.

What Are the Key Segments of the Frozen Shrimp Market?
The frozen shrimp market covered in this report is segmented -

1) By Species: Gulf Shrimp, Banded Coral Shrimp, Giant Tiger Shrimp, Ocean Shrimp, Farmed Whiteleg Shrimp, Royal Red Shrimp, Blue Shrimp
2) By Source: Conventional, Organic
3) By Application: Food, Pharmaceuticals, Cosmetics, Industrial, Biotechnology
4) By Distribution Channel: Online, Offline

Subsegments:
1) By Gulf Shrimp: Brown Gulf Shrimp, White Gulf Shrimp, Pink Gulf Shrimp
2) By Banded Coral Shrimp: Small Banded Coral Shrimp, Large Banded Coral Shrimp
3) By Giant Tiger Shrimp: Wild-Caught Giant Tiger Shrimp, Farmed Giant Tiger Shrimp
4) By Ocean Shrimp: Wild-Caught Ocean Shrimp, Farmed Ocean Shrimp
5) By Farmed Whiteleg Shrimp: Pacific Whiteleg Shrimp
6) By Black Tiger Shrimp: Black Tiger Shrimp (Farmed)
7) By Royal Red Shrimp: Wild-Caught Royal Red Shrimp, Frozen Royal Red Shrimp
8) By Blue Shrimp: Wild-Caught Blue Shrimp, Farmed Blue Shrimp

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Which Region Dominates the Frozen Shrimp Market?
Europe was the largest region in the frozen shrimp market in 2023. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the frozen shrimp market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

What Is Covered In The Frozen Shrimp Global Market Report?

- Market Size Analysis: Analyze the Frozen Shrimp Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Frozen Shrimp Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Frozen Shrimp Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Frozen Shrimp Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.

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