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In 2023, the value of the worldwide shrimp market is projected to hit $ 60.24 billion. Between 2023 and 2030, it is expected to rise at a CAGR of 9.4 percent. By 2030, the market is projected to be worth USD 123.28 billion.
Shrimp is a popular meat alternative since it is low in fat and high in protein. Shrimp, like the rest of the seafood industry, is benefiting from rising demand as a result of shifts in consumer diet and health consciousness around the world. More people are learning about the positive effects of eating seafood, especially shrimp, on their health. Since shrimp is widely regarded as a healthy protein option and provides key elements like omega-3 fatty acids, demand has been rising.
Protein, phosphate, and selenium can all be found in abundance in shrimp. The nutritional value is quite high. Consumption of shrimp is common because they provide a wealth of easily accessible nutrients. This remains one of the most important factors propelling the international shrimp market. Shrimp are a popular ingredient in a wide variety of cuisines, from Latin American to Asian. If they become more well-known, that may encourage the growth of their market.
Many people rely on seafood as a primary or supplementary protein source. One of the fastest expanding industries in the food industry is fishing. Shrimps have become extremely popular among millennials due to their low cost and high nutritional content. These qualities make them perfect for eating seafood out or preparing it at home. However, other marine products including lobsters, crabs, tuna, and salmon are struggling to maintain a sizeable portion of the market as a result of rising prices and limited supply.
Since frozen shrimps can be kept for a long time without going bad, this product category led the market in 2019. In terms of application, it is expected that the commercial sector would account for the lion's share of the market in 2027. The rise in the number of hotels and restaurants serving seafood is responsible for this trend. Market share in 2019 was highest for products sold through specialist stores. This is because consumers value convenience and are willing to pay a premium for it, and because speciality retailers provide both. The Asia-Pacific region is projected to have the largest shrimp market. Shrimp consumption in Asia and the Pacific is on the rise due to the food's high nutrient content and its many health advantages.
There has been a rise in the number of pescatarians and flexitarians in recent years. Since the turn of the twenty first century, a growing number of people have adopted the flexitarian diet. Flexitarians follow a vegan diet, but supplement their protein intake with seafood from sustainable sources. High-quality omega-3 fatty acids, such as those found in seaweed, are difficult for vegans to obtain, yet they are beneficial for Seagans.
Sustainable seafood is caught in a manner that does not deplete fish stocks, that protects critical fish habitats, that takes into account the social and economic implications on local communities and marine life, and that is economically viable. The consumption of sustainable seafood has also increased during the past few years. This movement is growing as many non-governmental organizations (NGOs) and celebrities advocate for greener and more sustainable lifestyles.
Countries including China, the United States, and Russia are engaged in a trade war after each became a financial giant in recent years. It is anticipated that USD 110 billion in yearly imports from the United States were hit by China's retaliatory tariffs in 2019, with rates ranging from 10% to 25%. The fish industry in the United States was particularly hard hit. The United States and China reached a first trade agreement on October 11, 2019, with implementation occurring on February 15, 2020; however, the seafood industry was excluded from the settlement. Trade wars have a negative impact on the seafood industry, especially shrimp exports and imports. As a result, trade wars between industrialized nations may slow down the market.
Report Coverage
Global Shrimp research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Shrimp report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Shrimp competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Shrimp market players and analyses their core competencies in each global market sub-segments.
Key Points Covered in the Report
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Shrimp market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Shrimp market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
HIGH LINER FOODS INC, THE WATERBASE LTD., NORDIC SEAFOODS A/S, AVANTI FEEDS LTD, CLEARWATER SEAFOODS INC, THAI UNION GROUP, MAZZETTA COMPANY, LLC, SURAPON FOODS, AQUA STAR CORP., WILD OCEANS PTY LTD.
Primary Target Market
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. INFINITIVE DATA EXPERT has segmented the global Shrimp market based on the below-mentioned segments:
Global Shrimp Market, By Type
Pink
Brown
White
Others
Global Shrimp market, By Distribution Channel
Hypermarkets & Supermarkets
Convenience Stores
Specialty Stores
Online Sales Channel
Global Shrimp Market, By End User
Residential
Commercial
Global Shrimp market, Regional Analysis
Shrimp is a popular meat alternative since it is low in fat and high in protein. Shrimp, like the rest of the seafood industry, is benefiting from rising demand as a result of shifts in consumer diet and health consciousness around the world. More people are learning about the positive effects of eating seafood, especially shrimp, on their health. Since shrimp is widely regarded as a healthy protein option and provides key elements like omega-3 fatty acids, demand has been rising.
Protein, phosphate, and selenium can all be found in abundance in shrimp. The nutritional value is quite high. Consumption of shrimp is common because they provide a wealth of easily accessible nutrients. This remains one of the most important factors propelling the international shrimp market. Shrimp are a popular ingredient in a wide variety of cuisines, from Latin American to Asian. If they become more well-known, that may encourage the growth of their market.
Many people rely on seafood as a primary or supplementary protein source. One of the fastest expanding industries in the food industry is fishing. Shrimps have become extremely popular among millennials due to their low cost and high nutritional content. These qualities make them perfect for eating seafood out or preparing it at home. However, other marine products including lobsters, crabs, tuna, and salmon are struggling to maintain a sizeable portion of the market as a result of rising prices and limited supply.
Since frozen shrimps can be kept for a long time without going bad, this product category led the market in 2019. In terms of application, it is expected that the commercial sector would account for the lion's share of the market in 2027. The rise in the number of hotels and restaurants serving seafood is responsible for this trend. Market share in 2019 was highest for products sold through specialist stores. This is because consumers value convenience and are willing to pay a premium for it, and because speciality retailers provide both. The Asia-Pacific region is projected to have the largest shrimp market. Shrimp consumption in Asia and the Pacific is on the rise due to the food's high nutrient content and its many health advantages.
There has been a rise in the number of pescatarians and flexitarians in recent years. Since the turn of the twenty first century, a growing number of people have adopted the flexitarian diet. Flexitarians follow a vegan diet, but supplement their protein intake with seafood from sustainable sources. High-quality omega-3 fatty acids, such as those found in seaweed, are difficult for vegans to obtain, yet they are beneficial for Seagans.
Sustainable seafood is caught in a manner that does not deplete fish stocks, that protects critical fish habitats, that takes into account the social and economic implications on local communities and marine life, and that is economically viable. The consumption of sustainable seafood has also increased during the past few years. This movement is growing as many non-governmental organizations (NGOs) and celebrities advocate for greener and more sustainable lifestyles.
Countries including China, the United States, and Russia are engaged in a trade war after each became a financial giant in recent years. It is anticipated that USD 110 billion in yearly imports from the United States were hit by China's retaliatory tariffs in 2019, with rates ranging from 10% to 25%. The fish industry in the United States was particularly hard hit. The United States and China reached a first trade agreement on October 11, 2019, with implementation occurring on February 15, 2020; however, the seafood industry was excluded from the settlement. Trade wars have a negative impact on the seafood industry, especially shrimp exports and imports. As a result, trade wars between industrialized nations may slow down the market.
Report Coverage
Global Shrimp research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Shrimp report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Shrimp competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Shrimp market players and analyses their core competencies in each global market sub-segments.
| REPORT ATTRIBUTES | DETAILS |
|---|---|
| Study Period | 2017-2030 |
| Base Year | 2022 |
| Forecast Period | 2022-2030 |
| Historical Period | 2017-2021 |
| Unit | Value (USD Billion) |
| Key Companies Profiled | HIGH LINER FOODS INC, THE WATERBASE LTD., NORDIC SEAFOODS A/S, AVANTI FEEDS LTD, CLEARWATER SEAFOODS INC, THAI UNION GROUP, MAZZETTA COMPANY, LLC, SURAPON FOODS, AQUA STAR CORP., WILD OCEANS PTY LTD. |
| Segments Covered | • By Product |
| Customization Scope | Free report customization (equivalent to up to 3 analyst working days) with purchase. Addition or alteration to country, regional & segment scope |
Key Points Covered in the Report
- Market Revenue of Shrimp Market from 2021 to 2030.
- Market Forecast for Shrimp Market from 2021 to 2030.
- Regional Market Share and Revenue from 2021 to 2030.
- Country Market share within region from 2021 to 2030.
- Key Type and Application Revenue and forecast.
- Company Market Share Analysis, Shrimp competitive scenario, ranking, and detailed company
profiles. - Market driver, restraints, and detailed COVID-19 impact on Shrimp
Market
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Shrimp market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Shrimp market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
HIGH LINER FOODS INC, THE WATERBASE LTD., NORDIC SEAFOODS A/S, AVANTI FEEDS LTD, CLEARWATER SEAFOODS INC, THAI UNION GROUP, MAZZETTA COMPANY, LLC, SURAPON FOODS, AQUA STAR CORP., WILD OCEANS PTY LTD.
Primary Target Market
- Market Players of Shrimp
- Investors
- End-users
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Third-party knowledge providers
- Value-Added Resellers (VARs)
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. INFINITIVE DATA EXPERT has segmented the global Shrimp market based on the below-mentioned segments:
Global Shrimp Market, By Type
Pink
Brown
White
Others
Global Shrimp market, By Distribution Channel
Hypermarkets & Supermarkets
Convenience Stores
Specialty Stores
Online Sales Channel
Global Shrimp Market, By End User
Residential
Commercial
Global Shrimp market, Regional Analysis
- Europe: Germany, Uk, France, Italy, Spain, Russia, Rest of Europe
- The Asia Pacific: China,Japan,India,South Korea,Australia,Rest of Asia Pacific
- South America: Brazil, Argentina, Rest of South America
- Middle East & Africa: UAE, Saudi Arabia, Qatar, South Africa, Rest of Middle East & Africa
About This Research
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