High Demand for Convenience Foods Fuels Growth in Frozen Shrimp Market: An Emerging Driver Transforming The Frozen Shrimp Market Landscape

The Frozen Shrimp Market Report by The Business Research Company delivers a detailed market assessment, covering size projections from 2025 to 2034. This report explores crucial market trends, major drivers and market segmentation by [key segment categories].

What Is the Projected Growth of the Frozen Shrimp Market?
The frozen shrimp market size has grown strongly in recent years. It will grow from $24 billion in 2024 to $26.23 billion in 2025 at a compound annual growth rate (CAGR) of 9.3%. The growth in the historic period can be attributed to increase in consumer demand for convenience foods, global aquaculture expansion, improved transportation infrastructure, increase in trade liberalization policies, increase in health consciousness, increase in popularity of seafood cuisines, and improved supply chain logistics.

The frozen shrimp market is expected to grow to $36.94 billion by 2029 at a CAGR of 8.9%. Key growth factors include changing consumer preferences for healthy and convenient seafood, increased global demand for seafood, rising aquaculture production, higher disposable incomes, expanding distribution channels, regulatory changes impacting shrimp farming, and growing demand in emerging markets. Trends include adoption of advanced freezing technologies, genetic advancements in shrimp farming, innovations in food packaging, cold chain logistics advancements, and blockchain technology integration.

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What Are the Different Frozen Shrimp Market Segments?
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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What Are the Primary Drivers Shaping the Frozen Shrimp Market?
The increasing demand for convenience foods is expected to drive the growth of the frozen shrimp market. Convenience foods are ready-to-eat or easy-to-prepare meals that save time and effort, catering to busy individuals and families with little time to cook. The growing demand for convenience foods is particularly strong among working people and those seeking fast, easy meal solutions. Frozen shrimp is a popular ingredient in convenience foods, offering versatility, ease of use, and long shelf life. For example, in April 2024, the National Association of Convenience Stores reported that foodservice sales, including prepared foods and beverages, accounted for 26.9% of in-store sales in 2023, up from 25.6% in 2022. The sales of prepared foods per store per month also increased by 12.2% in 2023 compared to 2022. As a result, the high demand for convenience foods is driving the growth of the frozen shrimp market.

Which Companies Are Leading in 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 Frozen Shrimp Market Trends Are Gaining Traction Across Different Segments?
Leading companies in the frozen shrimp industry are creating cutting-edge products like frozen dumplings to satisfy the burgeoning interest in convenient, high-quality seafood options that attract consumers seeking quick and effortless meal alternatives. Frozen dumplings represent premade, frequently half-baked dumplings that have been frozen to maintain their freshness and prolong their lifespan. For instance, Sanquan Food Co. Ltd. and Synear, frozen food manufacturers based in China, launched frozen shrimp dumplings in May 2024, marketed as nutritious for children. These dumplings are aimed at China's affluent children's food market, experiencing an increasing demand for convenient, healthy, and appetizing choices.

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What Are the Top Revenue-Generating Geographies in 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.

Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Frozen Shrimp Market?
2. What is the CAGR expected in the Frozen Shrimp Market?
3. What Are the Key Innovations Transforming the Frozen Shrimp Industry?
4. Which Region Is Leading the Frozen Shrimp Market?

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