Shrimp Market Dynamics Driven by Technological Advancements in Aquaculture and Increasing Adoption of Sustainability Certifications

InsightAce Analytic Pvt. Ltd. announces the release of a market assessment report on the "Global Shrimp Market Size, Share & Trends Analysis Report By Products (Frozen shrimps, Live/fresh/chilled/cooked/smoked shrimps, Prepared or preserved shrimps), Species (L. vannamei, P. monodon, M. rosenbergii, Other), Shrimp Source (Farmed/Aqua Cultured, Wild Captured)- Market Outlook And Industry Analysis 2034"

The Global Shrimp Market is valued at USD 70.20 Bn in 2024, and it is expected to reach USD 124.77 Bn by the year 2034, with a CAGR of 6.1% during the forecast period of 2025-2034.

Get Free Access to Demo Report, Excel Pivot and ToC: https://www.insightaceanalytic.com/request-sample/2856

The shrimp market represents a rapidly growing segment within the global seafood industry, driven by its broad culinary applications and significant economic relevance. Regarded as one of the most valued crustaceans, shrimp is highly prized for its nutritional content and versatility across diverse international cuisines, including Asian, Mediterranean, and Latin American culinary traditions. As a lean source of protein enriched with essential nutrients such as omega-3 fatty acids, shrimp continues to attract health-conscious consumers. In the foodservice sector, its ease of preparation and ability to enhance flavor have established shrimp as a key ingredient in restaurants and catering operations.

Beyond direct consumption, shrimp by-products are utilized in a range of industries, including animal feed, organic fertilizers, bioplastics, and chitin extraction for applications in pharmaceuticals, cosmetics, and agriculture. Economically, the shrimp industry supports the livelihoods of numerous communities, particularly in regions dependent on aquaculture and processing activities, while contributing to global food security by providing a consistent source of high-quality protein.

Market expansion is further supported by increasing health awareness and technological advancements in aquaculture, which have significantly improved production efficiency and output. The adoption of sustainable farming practices is mitigating environmental concerns, enhancing the long-term viability of the industry. Additionally, rising demand for frozen shrimp products-valued for their convenience and extended shelf life-is driving continued growth within the global market.

List of Prominent Players in the Shrimp Market:
• Mseafood Corp.
• Ristic AG
• Seajoy Seafood Corporation
• ArtisanFish LLC
• Orchid Marine
• Ananda Group
• Charoen Pokphand Food PCL
• The Clover Leaf Seafoods Family
• Nippon Suisan Kaisha, Ltd.
• Marine Harvest ASA
• Gulf Shrimp Company
• Thai Union Frozen Products PLC
• Baton Rouge Shrimp Company, Inc.
• Pescanova S.A
• Galveston Shrimp Company
• Labrador Fishermen's Union Shrimp Company Ltd.
• Ristic GmbH
• Vinnbio India Pvt. Ltd
• Dom International Limited
• Carribbean Shrimp Company Limited
• Artisanfish LLC

Expert Knowledge, Just a Click Away: https://calendly.com/insightaceanalytic/30min?month=2025-02

Market Dynamics
Drivers:
The global shrimp market is experiencing significant expansion, driven by rising consumer demand for seafood, advancements in aquaculture technologies, and an increasing emphasis on sustainable production practices. Shrimp's low fat content and high protein value continue to appeal to health-conscious consumers, while its versatility across diverse cuisines-particularly Asian, Mediterranean, and Latin American-further enhances market potential. The Asia-Pacific region, notably India, China, and Vietnam, has witnessed substantial growth in shrimp aquaculture, supported by technological innovations that improve productivity and promote sustainable farming practices.

Government-backed initiatives, including cluster farming programs and operational efficiency enhancement schemes, are further stimulating industry development. Additionally, a global dietary shift toward protein-rich and nutritionally balanced foods, particularly among urban populations, is strengthening shrimp's market presence. The adoption of sustainability certifications, such as those from the Aquaculture Stewardship Council (ASC), is encouraging responsible farming practices and serving as a key growth driver.

Challenges:
Despite positive market prospects, the shrimp industry faces significant environmental and social challenges. Environmental concerns-including habitat degradation, water pollution from farming operations, and the carbon footprint associated with feed production and bycatch-pose obstacles to sustainable development. Social issues, such as labor rights violations, including forced labor and inadequate working conditions in major producing countries like Thailand and India, present reputational risks. Additionally, competition for land and water resources between shrimp farms and local communities may impede long-term aquaculture sustainability and create operational tensions that challenge market expansion.

Regional Trends:
The Asia-Pacific region remains the dominant contributor to the global shrimp market, underpinned by extensive production capacity, established aquaculture infrastructure, favorable climatic conditions, and supportive government policies. Leading producers such as China, Indonesia, and India benefit from competitive labor and production costs, enabling large-scale and efficient farming operations. Technological advancements have further enhanced operational efficiency and sustainability practices across the region.

Moreover, countries including India and Ecuador have developed robust export networks to meet increasing international demand for high-quality shrimp products. Rising domestic disposable incomes and evolving consumer preferences are driving demand for premium, protein-rich, and sustainably sourced seafood. The highly competitive and fragmented market encourages continual innovation and adherence to international certification standards like ASC, reinforcing the Asia-Pacific region's leadership position in the global shrimp industry.

Unlock Your GTM Strategy: https://www.insightaceanalytic.com/customisation/2856

Recent Developments:
• In April 2023, Charoen Pokphand Foods Ltd. (CP Foods) inaugurated its sustainable shrimp farm, Homegrown Shrimp USA, in Indiantown, Florida. This significant move allows the Thai agriculture firm to expand its presence in the U.S. market while prioritizing sustainability.
• In March 2023, Nissui Corporation is pleased to announce the completion of a feasibility study on land-based aquaculture of whiteleg shrimp (Litopenaeus vannamei), conducted by the Oita Marine Biological Technology Center at the Central Research Laboratory.

Segmentation of Shrimp Market-
By Products:
• Frozen shrimps
• Live/fresh/chilled/cooked/smoked shrimps
• Prepared or preserved shrimps
By Species:
• L. vannamei
• P. monodon
• M. rosenbergii
• Other
By Shrimp Source:
• Farmed/Aqua Cultured
• Wild Captured
By Region-
North America-
• The US
• Canada
• Mexico
Europe-
• Germany
• The UK
• France
• Italy
• Spain
• Rest of Europe
Asia-Pacific-
• China
• Japan
• India
• South Korea
• South East Asia
• Rest of Asia Pacific
Latin America-
• Brazil
• Argentina
• Rest of Latin America
Middle East & Africa-
• GCC Countries
• South Africa
• Rest of Middle East and Africa

Read Overview Report- https://www.insightaceanalytic.com/report/shrimp-market/2856

About Us:
InsightAce Analytic is a market research and consulting firm that enables clients to make strategic decisions. Our qualitative and quantitative market intelligence solutions inform the need for market and competitive intelligence to expand businesses. We help clients gain competitive advantage by identifying untapped markets, exploring new and competing technologies, segmenting potential markets and repositioning products. Our expertise is in providing syndicated and custom market intelligence reports with an in-depth analysis with key market insights in a timely and cost-effective manner.

Contact us:
InsightAce Analytic Pvt. Ltd.
Visit: https://www.insightaceanalytic.com/
Tel : +1 607 400-7072
Asia: +91 79 72967118
info@insightaceanalytic.com

This release was published on openPR.