Press release
Global Shrimp Market Report 2025: Size Projected 105.35 Billion Tons, CAGR of 3.90% by 2033.
How Big is the Shrimp Market?
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.
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Global Shrimp Market Dynamics:
Latest Trends in the Shrimp Market:
The global shrimp market is thriving, weaving health-conscious diets with culinary versatility across the globe. Industry experts note a surge in sustainable aquaculture practices, which dominated in 2024, with brands like Thai Union leveraging eco-friendly systems like biofloc technology-think shrimp farms recycling water to reduce environmental impact. Asia-Pacific holds a 50.4% market share, driven by robust production in China and Vietnam.
Innovations in processing, such as Beaver Street Fisheries' ready-to-cook seafood boils, enhance convenience by 20%, per industry data. Businesses are beginning to realize the global shrimp market isn't just about seafood; it's a dynamic blend of sustainability and innovation, seamlessly supporting restaurants, retail, and health-focused consumers with high-protein, low-calorie options that align with global demand for ethical sourcing and flavorful, accessible products.
Growth Drivers in the Shrimp Market:
Growth in the global shrimp market, valued at USD 71.9 billion in 2024, is fueled by rising seafood consumption and health awareness. With global aquatic food consumption growing at 3% annually since 1961, per the FAO, shrimp's high-protein, low-fat profile drives a 40% share in the aquaculture segment-think health-conscious diners choosing shrimp ceviche over red meat.
Urbanization and rising incomes, especially in Asia-Pacific, boost demand for convenient, value-added products like frozen shrimp. Despite disease outbreak challenges, innovations like automated feeders cut losses by 10%. Government support, such as Vietnam's aquaculture incentives, further accelerates growth. The global shrimp market flourishes as consumers embrace sustainable, nutritious seafood, ensuring robust expansion across foodservice and retail channels worldwide.
Future Demand in the Shrimp Market:
Future demand in the global shrimp market is projected to reach USD 105.4 billion by 2033, with a CAGR of 3.9%. This growth is driven by expanding flexitarian diets and e-commerce channels, particularly in Asia-Pacific, where India's urban consumers fuel demand for ready-to-eat shrimp-think pre-marinated shrimp in online grocery carts.
The farmed shrimp segment, with a 70% share, will dominate as sustainable practices scale. Emerging markets like Latin America, led by Ecuador, offer untapped potential despite logistical hurdles. Partnerships, like Guolian Aquatic's with Saudi investors, enhance global supply chains. Stakeholders can leverage these trends, ensuring the global shrimp market meets rising needs for convenient, eco-conscious seafood, shaping a vibrant future for healthy, sustainable dining across diverse regions.
By the IMARC Group, Some of the Top Competitive Landscape Operating in the Shrimp Market are Given Below:
The Shrimp Market research report outlines a detailed analysis of the competitive landscape, offering in-depth profiles of major companies. Some of the key players in the market are:
• 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.
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Emerging Trends in the Shrimp Market:
Looking ahead, the global shrimp market will embrace transformative trends. Plant-based shrimp alternatives, like those from New Wave Foods, will cater to vegan and flexitarian diets, expanding market reach. Blockchain-enabled traceability, as seen with IBM's Food Trust, will boost transparency, appealing to eco-conscious consumers.
Compact, high-tech aquaculture systems, like recirculating aquaculture systems (RAS), will enhance yields in urban settings. Novel flavor-infused products, such as spicy marinated shrimp, will drive culinary innovation. These advancements promise to deliver sustainable, consumer-focused solutions, ensuring the global shrimp market remains a leader in nutritious, ethical seafood, meeting evolving dietary and environmental demands with precision and creativity.
Shrimp Market Report Segmentation:
Breakup by Environment:
• Farmed Shrimp
• Wild Shrimp
Breakup by Species:
• Penaeus Vannamei
• Penaeus Monodon
• Macrobrachium Rosenbergii
• Others
Breakup by Shrimp Size:
• 70
Breakup by Distribution Channel:
• Hypermarkets and Supermarkets
• Convenience Stores
• Hotels and Restaurants
• Online Sales
• Others
Regional Insights:
• North America (United States, Canada)
• Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
• Europe (Germany, France, United Kingdom, Italy, Spain, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key highlights of the Report:
• Market Performance
• Market Outlook
• COVID-19 Impact on the Market
• Porter's Five Forces Analysis
• Historical, Current and Future Market Trends
• Market Drivers and Success Factors
• SWOT Analysis
• Structure of the Market
• Value Chain Analysis
• Comprehensive Mapping of the Competitive Landscape
Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
Contact US:
IMARC Group
134 N 4th St. Brooklyn, NY 11249, USA
Email: sales@imarcgroup.com
Tel No:(D) +91 120 433 0800
United States: +1-201971-6302
About Us
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.
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