Shrimp Market Expansion Continues, with Forecast Valuation of $83.9 Billion by 2029

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Shrimp Market Size Valuation Forecast: What Will the Market Be Worth by 2025?
In the past few years, the shrimp market has experienced significant growth. Its projection expands from $60.29 billion in 2024 to $64.56 billion in 2025, indicating a compound annual growth rate (CAGR) of 7.1%. The factors contributing to this historic growth trend include augmented global seafood consumption, growing inclination towards high-protein diets, enhancements in cold chain logistics, the surge in the middle-class demographic, and increase in disposable income.

Shrimp Market Size Forecast: What's the Projected Valuation by 2029?
With strong expansion expected in the coming years, the shrimp market is predicted to reach a valuation of $83.91 billion in 2029, demonstrating a compound annual growth rate of 6.8%. This predicted growth is driven by several factors, including the development of organic and antibiotic-free shrimp farming, increasing focus on health awareness, the growing prevalence of processed and frozen shrimp, an increased emphasis on transparency and traceability, and the emergence of plant-based shrimp substitutes. The market forecast also anticipates significant trends such as the use of recirculating aquaculture systems (RAS), the integration of automation and artificial intelligence in shrimp farming, advances in fishing methodologies, investment in shrimp research and development, and progress in aquaculture technology.

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What Are the Drivers Transforming the Shrimp Market?
The growth of the shrimp market is likely to be propelled by the escalating awareness of health and wellbeing. This increased health consciousness is catalyzed by the rising occurrence of lifestyle-related conditions such as obesity, diabetes, and heart diseases, which have amplified understanding about the significance of a healthy lifestyle. Shrimp stands as a perfect selection for individuals mindful of their health, presenting a high-protein, low-calorie alternative abundant in essential nutrients like omega-3 fatty acids and antioxidants that bolster heart health and holistic wellness. For example, a survey study conducted by the US-based non-profit, the International Food Information Council, in May 2022 found that among 1,005 American adults aged 18-80 and adult Gen Z consumers aged 18-24, around 52% of the respondents adhered to a specific diet or eating pattern, an increase from 39% in 2021. Clean eating (16%), mindful eating (14%), and calorie counting (13%) emerged as the top choices. As a result, this mounting health consciousness is steering the shrimp market.

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What Long-Term Trends Will Define the Future of the Shrimp Market?
Major firms active in the shrimp market are turning their focus towards creating innovative solutions like real-time artificial intelligence analytics to boost production efficiency and oversee health statuses in shrimp cultivation. Real-time artificial intelligence analytics is a technology that employs AI algorithms to analyze and process data as it is being produced, promptly offering insights and feedback to refine decision-making processes and operational efficiency. Take, for example, Umitron, a Singaporean data company specializing in aquaculture, who introduced Umitron Eagle in March 2022. Umitron Eagle is a pioneering real-time AI-centric analytics solution devised exclusively for shrimp farming. This revolutionary system leverages cutting-edge artificial intelligence to oversee various biological conditions and environmental elements in in-depth shrimp production environments. Shrimp producers are thus able to use real-time data to automatically perfect their feeding strategies.

Which Segments in the Shrimp Market Offer the Most Profit Potential?
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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Which Firms Dominate the Shrimp Market by Market Share and Revenue in 2025?
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.

Which Regions Offer the Highest Growth Potential in the Shrimp Market?
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.

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