Press release
Frozen Shrimp Market Expands from USD 31.5 Bn to USD 45.2 Bn by 2035 - Strong Momentum in Asia-Pacific, Europe, USA, and Ecuador - Fact.MR
Frozen shrimp continues to dominate global seafood trade, supported by efficient freezing technologies that preserve texture, flavor, and nutritional value. The growth of quick-service restaurants, retail chains, and online grocery platforms is also enhancing accessibility, making frozen shrimp a preferred protein source in both developed and emerging markets.
Browse Full Report: https://www.factmr.com/report/frozen-shrimp-market
➤Key Market Insights at a Glance
Market Value (2024): USD 18.2 billion
Forecast Value (2034): USD 25.4 billion
CAGR (2024-2034): 3.5%
Top Consuming Region: North America (34% share)
Fastest-Growing Market: Asia Pacific (4.2% CAGR)
Leading Distribution Channel: Retail & Supermarkets (41% share)
Dominant Product Type: Whiteleg Shrimp (55% market share)
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➤Market Segmentation and Growth Drivers
By Product Type:
Whiteleg shrimp (Litopenaeus vannamei) remains the most consumed type, commanding over half of the market share due to its mild flavor and availability in multiple frozen formats. Black tiger shrimp and pink shrimp also contribute significantly, driven by demand in premium food segments.
By End Use:
Household consumption accounts for approximately 60% of global demand, while foodservice channels - including restaurants, hotels, and catering - represent 40%. The surge in ready-to-cook seafood dishes in both segments underlines consumers' shift toward convenience and health-focused diets.
➤
Key Growth Drivers:
Increasing demand for sustainable aquaculture and certified shrimp farming practices
Expansion of frozen food retail and online delivery networks
Rising disposable income and seafood consumption in emerging economies
Technological improvements in flash-freezing and packaging for longer shelf life
➤Regional Outlook
North America: Holds 34% of global market share, valued at USD 6.2 billion in 2024; expected to reach USD 8.3 billion by 2034 with steady consumption in the U.S.
Europe: Estimated at USD 4.1 billion in 2024, growing at 2.9% CAGR, driven by expanding demand for responsibly sourced frozen seafood.
Asia Pacific: The fastest-growing region, set to reach USD 9.5 billion by 2034 at a CAGR of 4.2%, supported by aquaculture expansion in India, Vietnam, and Indonesia.
Latin America: Shows potential with a 3.1% CAGR, driven by exports from Ecuador and Argentina.
Middle East & Africa: Moderate growth at 2.8% CAGR, attributed to increasing seafood imports and retail presence.
➤Competitive Landscape
The global frozen shrimp market is moderately consolidated, with leading players focusing on sustainability certifications, advanced cold chain logistics, and expanding product varieties such as organic and seasoned frozen shrimp.
Key players covered in the report include:
Thai Union Group
Maruha Nichiro Corporation
Nippon Suisan Kaisha, Ltd.
Avanti Feeds Ltd.
Minh Phu Seafood Corporation
The Clover Leaf Seafoods Family
Clearwater Seafoods Inc.
Seaprimexco Vietnam
High Liner Foods
Omarsa S.A.
➤Recent Developments
Thai Union Group launched its new "Sustainable Shrimp Initiative" aimed at traceable shrimp farming across Thailand and Vietnam.
High Liner Foods introduced a new range of value-added frozen shrimp products under its "Sea Cuisine" brand in 2025.
Avanti Feeds expanded its processing capacity by 20% in Andhra Pradesh to meet rising export demand.
Clearwater Seafoods adopted blockchain-enabled traceability systems for its shrimp supply chain in North America.
➤Purchase Full Report for Detailed Insights
For access to full forecasts, regional breakouts, company share analysis, and emerging trend assessments, you can purchase the complete report here: https://www.factmr.com/checkout/7069
Have specific requirements or need assistance with report pricing or a limited budget? Please contact sales@factmr.com
➤Related Reports:
Frozen Egg Market: https://www.factmr.com/report/frozen-egg-market
Frozen French Fries Market: https://www.factmr.com/report/frozen-french-fries-market
Frozen Pork Belly Market: https://www.factmr.com/report/frozen-pork-belly-market
Frozen Seafood Market: https://www.factmr.com/report/frozen-seafood-market
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Tel: +1 (628) 251-1583, +353-1-4434-232
Email: sales@factmr.com
➤About Fact.MR:
Fact.MR is a global market research and consulting firm, trusted by Fortune 500 companies and emerging businesses for reliable insights and strategic intelligence. With a presence across the U.S., UK, India, and Dubai, we deliver data-driven research and tailored consulting solutions across 30+ industries and 1,000+ markets. Backed by deep expertise and advanced analytics, Fact.MR helps organizations uncover opportunities, reduce risks, and make informed decisions for sustainable growth.
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