Global Shrimp Market Report 2025: Size Projected USD 105.35 Billion, CAGR of 3.90% by 2033.

Market Overview

The global shrimp market was valued at USD 71.87 billion in 2024 and is projected to reach USD 105.35 billion by 2033, registering a CAGR of 3.90% from 2025 to 2033. China leads the market, holding over 32.7% share in 2024 due to growing seafood consumption and expanding aquaculture operations. Innovations in shrimp farming and processing technologies, alongside increasing health awareness, support market growth.

Study Assumption Years

• Base Year: 2024
• Historical Year/Period: 2019-2024
• Forecast Year/Period: 2025-2033

Shrimp Market Key Takeaways

• Current Market Size: USD 71.87 Billion in 2024
• CAGR: 3.90% (2025-2033)
• Forecast Period: 2025-2033
• China dominates shrimp production with over 32.7% market share in 2024.
• Farmed shrimp represents 61.5% of the market, preferred for quality consistency.
• Penaeus Vannamei (whiteleg shrimp) holds 72.1% share for its adaptability and high yield.
• Shrimp size 41-50 is the most popular category with 21.8% market share.
• Hotels and restaurants account for 32.3% of the distribution channel market share.

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Market Growth Factors

The global shrimp market is experiencing a surge in its upswing as a result of the consumers' ever-increasing quest for the easy-to-consume and protein-rich seafood options. Shrimp is being gradually picked up by the consumers as the source of low-calorie and healthful protein which are suitable for health-oriented lifestyles. For instance, the prices of shrimp in Europe were from USD 33/kg to USD 67/kg in the first half of 2023 which was an indication of the consumers' readiness to pay a premium for the finest seafood.

Furthermore, SeaPak's Southern Style Jumbo Shrimp and Beaver Street Fisheries' Steamer Pot, for example, are already doing great because they cater to the changing tastes of the consumers when it comes to shrimp.

Besides, there is a booming aquaculture industry that is one of the major forces behind the global shrimp market. Eco-friendly shrimp farming, selective breeding and controlled environments have all been part of the advances in shrimp farming that have led to better and more sustainable yields. For example, Abu Dhabi has a recirculating aquaculture system where 2,000 metric tons of premium salmon are produced while more than 99.5% of process water is being reused, thus showing innovations that can also be applied to shrimp farming. Over the years, companies like Orffa have been gradually building their product lines for the aquaculture of animals, particularly to improve the health and overproduction of shrimp, thereby creating a constant supply for the world market.

Health consciousness among consumers is another factor that keeps market growth on the rise. The overall health benefits of shrimp, which include low caloric content, high quantity of proteins, and omega-3 fatty acids, together with its health-promoting nature as a red meat alternative greatly contribute to shrimp's attractiveness. To make the U.S. the largest market for fair trade-certified shrimp, Chicken of the Sea joined hands with Thai Union Frozen and Avanti Frozen Foods in December 2022, which in turn, will be supporting the sustainable and ethical sourcing initiatives. All these efforts are bound to create and even more secure market for the shrimp and hence its global consumption.

Market Segmentation

By Environment:

• Farmed Shrimp: Accounts for 61.5% market share; bred and harvested in controlled aquatic settings offering consistent quality and availability year-round.
• Wild Shrimp: Not detailed but included in market segmentation.

By Species:

• Penaeus Vannamei: Dominates with 72.1% market share; valued for high yield, disease resistance, and adaptability in varied farming systems.
• Penaeus Monodon: Not further detailed.
• Macrobrachium Rosenbergii: Not further detailed.
• Others: Not further detailed.

By Shrimp Size:

• 70
• The 41-50 category leads with 21.8% market share, favored for culinary versatility and affordability.

By Distribution Channel:

• Hypermarkets and Supermarkets
• Convenience Stores
• Hotels and Restaurants: Hold 32.3% market share; shrimp is a premium seafood choice in various cuisines and dining formats.
• Online Sales
• Others

By Region:

• Major Producing Regions: China, India, Indonesia, Vietnam, Thailand, Ecuador, Others
• Major Consuming Regions: United States, China, Europe, Japan, Indonesia, Others

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Regional Insights

China is the dominant region in the global shrimp market, accounting for 32.7% market share in 2024. Its extensive coastline, well-developed aquaculture industry, and advanced farming practices position it as the largest shrimp producer globally. Coastal regions like Shandong, Guangdong, Fujian, Shanghai, and Zhejiang constitute 68% of shrimp imports in 2023. China also leads in seafood processing and export, supported by robust distribution networks and trade investments, exemplified by Guolian Aquatic Products receiving USD 560 million from Saudi Arabia's Public Investment Fund in 2023.

Recent Developments & News

• February 2025: India plans to reduce import duties on select low-volume US goods under a proposed Bilateral Trade Agreement, aiming to protect domestic agriculture and seafood sectors, especially shrimp exports facing potential US tariffs up to 38.2%.
• March 2024: Laitram Machinery acquired Martak's shrimp peeling business line to expand its foothold in shrimp processing, particularly Cold-Water Shrimp.
• February 2024: Indian e-commerce seafood retailer Captain Fresh acquired US-based seafood importer CenSea Inc., targeting to increase its US business share from 25-30% to over 50%.

Key Players

• Apex Frozen Foods Ltd.
• Aqua Star
• Avanti Feeds Limited
• Charoen Pokphand Foods PCL
• Clearwater Seafoods LP
• Iberconsa
• Mazzetta Company LLC
• Nordic Seafood A/S
• Seaprimexco
• Thai Union Group PCL

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