Shrimp Market Size to Surpass USD 112.31 Billion by 2033, Driven by Rising Seafood Demand and Sustainable Aquaculture Practices

According to Straits Research, the global Shrimp Market size was valued at USD 49.63 Billion in 2024 and is projected to reach USD 112.31 Billion by 2033, growing at a CAGR of 9.5% during the forecast period (2025-2033). The expansion is being driven by rising demand for protein-rich diets, improvements in shrimp farming technologies, growing preference for frozen and ready-to-eat formats, and the expansion of shrimp consumption in emerging markets.

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Shrimp Market Driver

The shrimp market is experiencing strong growth, largely driven by rising consumer awareness of its nutritional and health benefits. Shrimp are an excellent source of lean protein, low in calories and carbohydrates, and rich in essential nutrients such as selenium, vitamins, and antioxidants. These qualities make them an ideal choice for health-conscious consumers seeking balanced diets and alternatives to red meat, particularly in regions where chronic diseases and obesity are on the rise.

Moreover, the industry is witnessing greater supply chain integration and product diversification. Contract farming models are becoming more common, with processors providing technical assistance, feed, and guaranteed procurement to shrimp farmers, ensuring quality and output stability. At the same time, the growing demand for frozen, canned, and ready-to-eat shrimp products reflects evolving consumer lifestyles and a preference for convenience. With expanding cold-chain infrastructure and stronger retail networks, these value-added shrimp products are reaching new markets and boosting global consumption.

Market Segmentation

The shrimp market is segmented by source and form, each contributing to its overall growth and global trade structure. By source, the market is divided into cold water shrimp and hot water shrimp. Cold water shrimp, typically harvested from colder marine environments and often wild-caught, dominate the market due to their firm texture, lower fat content, and premium appeal. In contrast, hot water shrimp, cultivated mainly in tropical and subtropical regions, hold significant importance in large-scale aquaculture operations, particularly across Asia and Latin America, where warm climates support year-round production. By form, the market includes frozen and canned shrimp. The frozen segment leads globally, favored for its extended shelf life, easy transport, and versatility across foodservice and retail sectors. Moreover, the canned shrimp segment, though smaller, is gaining traction in ready-to-eat and preserved seafood categories, especially in regions with limited cold-chain infrastructure.

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Shrimp Market Key Players

Aqua Star Corp.
Avanti Feeds Ltd.
Clearwater Seafoods Inc.
High Liner Foods Inc.
Mazzetta Company LLC
Nordic Seafoods A/S
Surapon Foods
Thai Union Group
The Waterbase Ltd.
Wild Oceans Pvt Ltd.

These players compete on multiple fronts expanding farming capacity, technological investment, sustainable practices, product quality, global export networks, brand reputation, and strategic partnerships with retailers and foodservice operators.

Market Restraint

Environmental and ecological concerns remain a major challenge for the global shrimp industry. Shrimp farming, particularly in coastal areas, has been associated with mangrove deforestation, water pollution, soil salinization, and loss of biodiversity. As sustainability becomes a top priority, producers are under increasing pressure to adopt eco-friendly practices and technologies that minimize habitat disruption and improve waste management. These issues make environmental responsibility a critical factor for long-term industry growth and market reputation.

Beyond environmental pressures, several operational hurdles persist, including seed quality, disease risks, and fluctuating feed costs, which directly affect productivity and profitability. Inconsistent hatchery performance, high input prices, and biosecurity threats continue to strain farmers, especially in developing markets.

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Conclusion

The shrimp market is poised for sustained growth through the forecast period, largely fueled by rising consumer preference for high-quality seafood, aquaculture advancements, product innovation, and expanding global trade. Among segments, cold-water and frozen shrimp are expected to maintain dominance, while canned and ready-to-eat shrimp will continue to gain incremental traction in convenience-driven markets.

Other Related Reports :

Aquafeed Market: https://straitsresearch.com/report/aquafeed-market

Seafood Market : https://straitsresearch.com/report/seafood-market

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