Shrimp Market Size To Reach USD 105.35 Billion by 2033

According to the latest report by IMARC Group, titled "Shrimp Market Size, Share, Trends and Forecast by Environment, Species, Shrimp Size, Distribution Channel, and Region, 2025-2033," offers a comprehensive analysis of the shrimp market. The report also includes competitor and regional analysis, along with a breakdown of segments within the industry. the global shrimp market size was valued at USD 71.87 Billion in 2024. Looking forward, IMARC Group estimates the market to reach USD 105.35 Billion by 2033, exhibiting a CAGR of 3.90% from 2025-2033. China currently dominates the market, holding a market share of over 32.7% in 2024. The region's shrimp market share is driven by the increasing consumer demand for seafood products, the growing awareness about the health benefits associated with shrimp consumption, and the rising adoption of aquaculture practices, resulting in higher shrimp production.

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Technological Advancements in Shrimp Farming:

The shrimp industry is undergoing a significant transformation driven by technological innovations aimed at enhancing production efficiency and sustainability. One notable development is the integration of artificial intelligence (AI) and automation in shrimp farming practices. For instance, companies like Umitron have introduced AI-based analytics solutions, such as Umitron Eagle, which provide real-time insights into shrimp health and environmental conditions. These systems utilize advanced algorithms to monitor various biological and environmental parameters, enabling farmers to optimize feeding strategies and improve overall farm management. The adoption of such technologies not only increases yield but also reduces operational costs by minimizing resource wastage. Additionally, advancements in aquaculture techniques, including the use of recirculating aquaculture systems (RAS), have been instrumental in promoting sustainable shrimp farming. These systems allow for the recycling of water within the farming environment, thereby reducing the ecological footprint and conserving vital water resources. The implementation of these technological solutions is poised to revolutionize the shrimp industry, making it more resilient and responsive to the growing global demand.

Shifts in Global Supply Chains and Market Dynamics:

The global shrimp market is experiencing notable shifts in supply chains and market dynamics, influenced by factors such as international trade policies, environmental challenges, and labor practices. In regions like Louisiana, USA, the local shrimp industry faces significant threats due to the influx of cheaper imported shrimp, primarily from countries like India and Vietnam. This surge in imports has led to a drastic reduction in domestic shrimp prices, compelling local producers to downsize operations and, in some cases, cease activities altogether. Concurrently, concerns over labor exploitation in major shrimp-producing countries have come to the forefront. Reports indicate that the aggressive pursuit of low wholesale prices by large Western supermarkets has exacerbated the exploitation of shrimp farmers and workers in countries such as Vietnam, Indonesia, and India. Farmers in these regions have reported significant reductions in earnings, leading to downsizing and wage insecurity among workers. These developments highlight the complex interplay between global demand, ethical sourcing, and the sustainability of shrimp supply chains.

Consumer Preferences and Health Awareness:

Consumer preferences in the shrimp market are increasingly being shaped by health awareness and ethical considerations. Shrimp is recognized as a low-calorie, high-protein seafood option rich in essential nutrients like omega-3 fatty acids, making it a favorable choice among health-conscious consumers. This trend is particularly evident in markets such as the United States, where there is a growing demand for healthy and convenient seafood options. Moreover, ethical concerns regarding shrimp farming practices have led to increased consumer scrutiny. For example, major UK retailers, including Waitrose, have committed to eliminating inhumane practices in their supply chains, such as the suffocation of prawns in ice slurry, opting instead for more humane methods like electrical stunning. This shift reflects a broader trend where consumers are not only focused on the nutritional benefits of shrimp but also on the ethical and sustainable practices employed in its production. As a result, transparency in sourcing and adherence to high welfare standards are becoming critical factors influencing consumer purchasing decisions in the shrimp market.

Leading Key Players Operating in the Shrimp Industry:

• Apex Frozen Foods Ltd.
• Aqua Star (Admiralty Island Fisheries Inc.)
• Charoen Pokphand Foods PCL
• Grand Ocean Seafoods Co. Ltd.
• Grupo Ibérica Congelados S.A.
• Liveris Afentoulis & Co.
• Mazzetta Company LLC
• Nordic Seafood A/S (Nippon Suisan Kaisha Ltd.)
• Ocean More Foods Co. Ltd.
• Pacific Seafood
• Seaprimexco Vietnam
• Thai Union Group PCL

Emerging Trends in the Shrimp Market:

The shrimp industry is poised to witness several emerging trends that will shape its trajectory in the coming years. One significant trend is the increasing adoption of sustainable and eco-friendly farming practices. Consumers are becoming more environmentally conscious, prompting producers to implement methods that minimize ecological impact, such as biofloc technology and closed-loop systems. These practices not only enhance sustainability but also improve shrimp health and yield. Another notable trend is the expansion of online sales channels.

The convenience of e-commerce platforms has led to a surge in online seafood purchases, with consumers appreciating the ease of access to a variety of shrimp products. This shift is encouraging retailers to strengthen their digital presence and logistics to meet the growing online demand. Additionally, there is a rising interest in value-added shrimp products, such as pre-cooked and seasoned options, catering to the busy lifestyles of modern consumers seeking quick and healthy meal solutions. These trends indicate a dynamic evolution in the shrimp market, driven by consumer preferences for sustainability, convenience, and health consciousness.

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Key Market Segmentation:

Analysis by Environment:

• Farmed Shrimp
• Wild Shrimp

Analysis by Species:

• Penaeus Vannamei
• Penaeus Monodon
• Macrobrachium Rosenbergii
• Others

Analysis by Shrimp Size:

• 70

Analysis by Distribution Channel:

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

Analysis by Region:

Major Producing Regions:

• China
• India
• Indonesia
• Vietnam
• Thailand
• Ecuador
• Others

Major Consuming Regions:

• United States
• China
• Europe
• Japan
• Indonesia
• Others

Key highlights of the Report:

• Market Performance
• Market Outlook
• Porter's Five Forces Analysis
• Market Drivers and Success Factors
• Comprehensive Mapping of the Competitive Landscape

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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC's information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company's expertise.

This release was published on openPR.