Press release
Shrimp Market Supply Chain Analysis and Revenue Forecast 2026 to 2035
The Shrimp Market Size is valued at USD 70.20 Bn in 2024 and is predicted to reach USD 124.77 Bn by the year 2034 at an 6.1% CAGR during the forecast period for 2025-2034.
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The global shrimp market represents a rapidly growing segment of the seafood industry, supported by its wide-ranging applications and substantial economic significance. As one of the most widely consumed crustaceans, shrimp occupies a central role in global culinary practices, particularly across Asian, Mediterranean, and Latin American cuisines. Its strong nutritional profile characterized by high protein content, low fat levels, and the presence of essential nutrients such as omega-3 fatty acids has increased its appeal among health-conscious consumers.
Within the foodservice sector, shrimp is valued for its versatility, ease of preparation, and ability to enhance flavor, making it a core ingredient in restaurants and catering operations. In addition to direct consumption, shrimp by-products are utilized across multiple industries, including animal feed, organic fertilizers, bioplastics, and chitin extraction for pharmaceutical, cosmetic, and agricultural applications.
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
Market Dynamics:
Drivers-
The shrimp market is witnessing robust growth, supported by increasing global seafood consumption, the expansion of aquaculture activities, and a rising emphasis on sustainable food production. Shrimp's strong nutritional profile, characterized by high protein content and low fat levels, aligns well with the preferences of health-conscious consumers. Its widespread acceptance across global cuisines, particularly in Asian markets, further strengthens demand.
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Challenges:
Despite strong growth prospects, the shrimp market faces notable environmental and social challenges. Environmental concerns include habitat degradation resulting from farm-related pollution, elevated carbon emissions, and the overexploitation of marine resources for shrimp feed, which contributes to bycatch issues. The industry is also subject to scrutiny over social and ethical matters, such as labor rights violations and substandard working conditions in certain producing regions, which have affected its public perception.
Regional Trends:
The Asia-Pacific region continues to dominate the global shrimp market, driven by high production capacity, well-established aquaculture infrastructure, favorable climatic conditions, and growing domestic demand. Leading producers such as China, Indonesia, and India benefit from supportive government policies, advancements in farming technologies, and cost efficiencies enabled by lower labor and production expenses. Furthermore, ongoing technological innovations are improving sustainability outcomes and addressing key operational challenges, reinforcing the region's leadership in the global shrimp industry.
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.
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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
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