(EMAILWIRE.COM, March 27, 2025 ) 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.
Global Shrimps Market 2025-2034 full Research Repot latest version is now available.
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Latest Drivers Restraint and Opportunities Market Snapshot:
Key factors influencing the global Shrimps market are:
Rising consumer demand for protein-rich seafood due to health consciousness.
Expansion of aquaculture practices and technological advancements in shrimp farming.
Increasing global trade and exports driven by strong demand from North America and Europe.
The following are the primary obstacles to the Shrimps market’s expansion:
Fluctuating climatic conditions and disease outbreaks impact shrimp farming yields.
Stringent regulations and import restrictions hinder global trade and market expansion.
Rising feed costs and supply chain disruptions increase production expenses.
Future expansion opportunities for the global Shrimps market include:
Increasing consumer demand for high-protein seafood and sustainable shrimp farming practices.
Expanding shrimp aquaculture in emerging markets like Southeast Asia and Latin America.
Growing adoption of value-added shrimp products in retail and food service sectors.
Key Industry Insights & Findings from the Report:
Sustainable shrimp farming practices are gaining traction due to environmental concerns.
Technological advancements in feed and disease management are improving shrimp yields.
North America dominated the market and accounted for a revenue share of global revenue in 2023.
One of the significant concerns restraining industry growth is the stringent environmental regulations and sustainability concerns.
Market Analysis:
The global shrimp market is expanding due to rising consumer demand for high-protein seafood, increasing aquaculture production, and strong export activities. Technological advancements in shrimp farming, including disease control and sustainable practices, are boosting yields.
North America and Europe drive demand, while Asia Pacific leads in production, with Vietnam, India, and Thailand as key exporters. Challenges include environmental concerns, fluctuating prices, and regulatory policies.
List of Prominent Players in the Shrimp Market:
Thai Union Group PCL
Clearwater Seafoods
Avanti Feeds Limited
High Liner Foods
Surapon Foods Public Company Limited
Mazzetta Company, LLC
Aqua Star
Nordic Seafood A/S
The Waterbase Limited
Wild Ocean Direct
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Recent Developments:
In January 2022, Thai Union Group PCL announced a joint venture with R&B Food Supply and Srinivasa Cystine Private Limited to launch a new company focused on providing high-quality food ingredients to the Indian market.
In February 2024, Devi Sea Food, along with other Indian shrimp exporters, became the newest member of the Seafood Task Force (STF), a leading trade organization that represents members of the Thai shrimp and the global tuna supply chain.
In October 2024, Falcon Marine Exports Limited announced its intention to diversify shrimp procurement across West Bengal, Odisha, and Andhra Pradesh.
Shrimps Market Dynamics:
Market Drivers: Rising Consumer Demand for Protein-Rich Seafood
Rising consumer demand for protein-rich seafood is a key driver of the shrimp market, as health-conscious consumers seek nutritious and high-protein food options.
Shrimp is low in fat, rich in essential amino acids, and a source of omega-3 fatty acids, making it a popular choice among fitness enthusiasts and those following balanced diets. Additionally, the growing preference for lean protein over red meat fuels shrimp consumption.
The increasing awareness of seafood’s health benefits, coupled with a shift toward high-protein diets, has boosted shrimp sales in retail and food service sectors, driving market expansion across both developed and emerging economies.
Challenges: Fluctuating Climatic Conditions and Disease Outbreaks
Fluctuating climatic conditions and disease outbreaks significantly limit the shrimp market by disrupting production and supply chains.
Rising water temperatures, erratic weather patterns, and extreme events such as floods and cyclones affect shrimp farming, leading to lower yields and higher mortality rates. Additionally, disease outbreaks like Early Mortality Syndrome (EMS) and White Spot Syndrome Virus (WSSV) cause mass shrimp deaths, resulting in financial losses for farmers.
These challenges increase production costs, reduce output, and create market instability. Import restrictions and stringent quality regulations further complicate exports, making it difficult for producers to maintain consistent supply and meet global demand.
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North America Is Expected To Grow With The Highest CAGR During The Forecast Period
North America is expected to grow with the highest CAGR in the shrimp market due to rising consumer preference for protein-rich seafood, increasing health awareness, and the popularity of diverse shrimp-based cuisines.
The expansion of sustainable aquaculture practices and technological advancements in shrimp farming are boosting domestic production. Additionally, the demand for value-added and frozen shrimp products is surging, driven by convenience and expanding retail distribution channels.
Trade agreements and reduced import tariffs further support market growth by ensuring a steady supply from key exporters like India and Ecuador.
Segmentation of Shrimps Market-
By Type-
Pink
White
Brown
Other
By Form-
Frozen
Canned
By End-User-
Residential
Commercial
By Distribution Channel-
Hypermarkets/Supermarkets
Convenience Stores
Specialty Stores
Online
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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Diana Dsouza
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