Press release
Key Influencer in the Frozen Shrimp Market 2025: High Demand for Convenience Foods Fuels Growth in Frozen Shrimp Market Driver
Frozen Shrimp Market
The growing need for convenience foods is expected to fuel the expansion of the frozen shrimp market. Convenience foods, which are easy to prepare or ready-to-eat, are becoming more popular due to busy lifestyles and the need for quick meal options. Frozen shrimp supports this trend by offering a versatile, high-quality, long-lasting ingredient that simplifies meal preparation. For instance, in April 2024, the National Association of Convenience Stores reported that foodservice sales in the U.S. accounted for 26.9% of in-store sales in 2023, up from 25.6% in 2022, with a 12.2% increase in prepared food sales per store compared to the previous year. Therefore, the rising demand for convenience foods will boost the frozen shrimp market.
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What Is the projected market size and growth rate for the frozen shrimp market?
The frozen shrimp market has grown significantly in recent years. It will rise from $24 billion in 2024 to $26.23 billion in 2025, at a CAGR of 9.3%. This growth is driven by consumer demand for convenience foods, the global expansion of aquaculture, improved transportation and logistics, and the increasing popularity of seafood cuisines.
The frozen shrimp market is projected to reach $36.94 billion by 2029, growing at a CAGR of 8.9%. Growth is driven by the shift in consumer preferences for healthy and convenient seafood options, growing global seafood demand, increasing aquaculture production, rising disposable incomes, expanding distribution channels, and regulatory changes in shrimp farming practices. Trends include advanced freezing technologies, improvements in selective breeding, advancements in food packaging, better cold chain logistics, and blockchain technology adoption.
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What new trends are reshaping the frozen shrimp market and its opportunities?
Companies in the frozen shrimp market are launching innovative products like frozen dumplings to satisfy the growing demand for convenient and nutritious seafood meal options. For example, in May 2024, China-based Sanquan Food Co. Ltd. and Synear introduced frozen shrimp dumplings aimed at the children's food market, focusing on healthy, tasty, and easy-to-prepare meals for kids.
What major market segments define the scope and growth 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 regions are key players in the growth of 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.
Which key market leaders are driving the frozen shrimp industry growth?
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
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What Is Covered In The Frozen Shrimp Global Market Report?
•Market Size Forecast: Examine the frozen shrimp market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the frozen shrimp market for a structured understanding.
•Key Players Overview: Analyze major players in the frozen shrimp market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the frozen shrimp market.
•Segment Contributions: Evaluate how different segments drive overall growth in the frozen shrimp market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the frozen shrimp market.
•Industry Challenges: Identify potential risks and obstacles affecting the frozen shrimp market.
•Competitive Landscape: Review strategic developments in the frozen shrimp market, including expansions, agreements, and new product launches.
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