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Evolving Market Trends In The Shrimp Industry: Artificial Intelligence (AI) Driven Innovation Revolutionizes Shrimp Farming with Real-Time Analytics Solutions
Shrimp
What Is the Expected Shrimp Market Size During the Forecast Period?
The shrimp market size is forecast to rise from $60.29 billion in 2024 to $64.56 billion in 2025, at a CAGR of 7.1%. The growth is attributed to increasing global seafood consumption, higher demand for protein-rich diets, improved cold chain logistics, growing middle-class populations, and rising disposable income.
The shrimp market is projected to reach $83.91 billion by 2029 at a CAGR of 6.8%. Growth is driven by organic shrimp production, health consciousness, frozen shrimp demand, traceability focus, and plant-based shrimp alternatives. Trends include recirculating aquaculture system adoption, AI and automation integration in shrimp farming, fishing technique advancements, R&D investments, and aqu
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What Are the High-Growth Segments in the Shrimp Market?
The shrimpmarket covered in this report is segmented -
1) By Form: Green Or Head-Off, Green Or Head-On, Peeled, Cooked, Breaded, Other Forms
2) By Species: L. Vannamei, Trachipenaeus Curvirostris, Pleoticus Muelleri, P. Monodon, Acetes Japonicus, Pandalus Borealis, P. Chinensis, Other Species
3) By Distribution Channel: Hypermarkets Or Supermarkets, Convenience Stores, Specialty Stores, Online Sales Channels
4) By Application: Food, Pharmaceutical, Cosmetics, Industrial, Biotechnology
5) By End-User: Residential, Commercial
Subsegments:
1) By Green Or Head-Off: Whole Shrimp, Tail-On Shrimp, Tail-Off Shrimp
2) By Green Or Head-On: Whole Shrimp, Peeled Shrimp
3) By Peeled: Peeled Tail-On Shrimp, Peeled Tail-Off Shrimp
4) By Cooked: Boiled Shrimp, Grilled Shrimp, Steamed Shrimp
5) By Breaded: Breaded Shrimp, Breaded Shrimp
6) By Other Forms: Shrimp Chips, Shrimp Paste, Shrimp Powder
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What Key Drivers Are Expected to Influence Future Shrimp Market Growth?
The rising health consciousness is expected to propel the shrimp market. Growing awareness of lifestyle-related diseases has heightened interest in healthy eating. Shrimp is a low-calorie, high-protein food option packed with nutrients like omega-3 fatty acids, supporting heart health. A survey in 2022 revealed that 52% of Americans followed specific diets, with clean eating and mindful eating being the top choices, driving the demand for healthy food options like shrimp.
Which Companies Hold the Largest Share Across Different Shrimp Market Segments?
Major companies operating in the shrimp market are Charoen Pokphand Foods PCL (CP Foods), Maruha Nichiro Corporation, Clearwater Seafoods LP, Nippon Suisan Kaisha (Nissui), Thai Union Group PCL, Pacific Seafood, High Liner Foods Inc., Royal Greenland A/S, Minh Phu Seafood Corporation, Avanti Feeds Ltd., Nekkanti Sea Foods Limited, Beaver Street Fisheries Inc., Surapon Foods Public Company Limited, Apex Frozen Foods Ltd., Devi Fisheries Ltd., Mazzetta Company LLC, Cooke Aquaculture Inc., Aqua Star, The Waterbase Limited, Grand Ocean Seafoods Co. Ltd., Seattle Shrimp & Seafood, Nordic Seafood A/S, SSF Limited, BMR Groups, Falcon Marine Exports, Ocean More Foods Co. Ltd.
What Shrimp Market Trends Are Gaining Traction Across Different Segments?
Major companies in the shrimp market are adopting real-time artificial intelligence (AI) analytics to optimize shrimp farming efficiency and monitor health conditions. AI-based analytics provide immediate insights to improve decision-making in shrimp farming. For instance, in March 2022, Umitron, a Singapore-based data company, introduced Umitron Eagle, a real-time AI analytics solution for shrimp farming. This technology uses AI to monitor biological and environmental conditions, helping shrimp producers optimize feeding strategies automatically.
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What Are the Emerging Geographies for The Shrimp Market Growth?
Asia-Pacific was the largest region in the shrimp market in 2024. Europe is expected to be the fastest-growing region in the forecast period. The regions covered in the 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 Shrimp Market?
2. What is the CAGR expected in the Shrimp Market?
3. What Are the Key Innovations Transforming the Shrimp Industry?
4. Which Region Is Leading the Shrimp Market?
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