The shrimp market is estimated to be valued at USD 75.99 Bn in 2024, exhibiting a compound annual growth rate (CAGR) of 5.4% from 2024 to 2031. The global shrimp market is expected to grow significantly in the coming years. Shrimp is one of the most popular and widely consumed seafood across various regions worldwide. Rising demand for shrimp as a high protein source coupled with the growth of the food processing industry is anticipated to drive the market growth during the forecast period. Increasing health-consciousness and changing dietary patterns are also expected to contribute to higher shrimp consumption globally. However, overfishing and challenges related to disease outbreaks in shrimp farming may hamper the market growth to some extent. Overall, growing seafood trade and rising population disposable incomes in developing countries are likely to create new opportunities in this space.

 Market Dynamics:

The global shrimp market is primarily driven by growing awareness about the nutritional benefits of shrimp as a rich protein source. Shrimp contains high-quality protein and various vitamins and minerals that support overall health and wellness. With rising health consciousness, the demand for shrimp has increased considerably among health-conscious consumers worldwide. Furthermore, the growing processed and frozen seafood sector is widening the market scope for shrimp. The rising demand for convenience foods has propelled the sales of processed shrimp products such as breaded, canned, and cooked varieties across various countries. However, overfishing of shrimp in certain regions poses a major restraint to the market growth. Additionally, outbreaks of diseases like early mortality syndrome has negatively impacted shrimp farming in recent years. Nevertheless, increasing seafood exports and the flourishing food retail sector in developing nations would likely create new opportunities over the coming years.

Key Features of the Study:

• This report provides an in-depth analysis of the global shrimp market, and provides market size (US$ Bn) and compound annual growth rate (CAGR%) for the forecast period (2024–2031), considering 2023 as the base year
• It elucidates potential revenue growth opportunities across different segments and explains attractive investment proposition matrices for this market
• This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players
• It profiles key players in the global shrimp market based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies
• Key companies covered as a part of this study include Morubel N.V., Maruha Nichiro Corporation, Pacific Seafood, 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, and Wild Ocean Direct
• Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
• The global shrimp market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts

Detailed Segmentation-

• By Source Type:
• • Cold Water Shrimps
  • Hot Water Shrimps
• By Species:
• • Gulf Shrimps
  • Farmed Whiteleg Shrimps
  • Blue Shrimps
  • Ocean Shrimps
  • Royal Red Shrimps
• By Form:
• • Frozen
  • Canned
  • Peeled
  • Cooked
  • Shell-On
  • Others
• By End use Industry:
• • Food
  • Cosmetics
  • Pharmaceutical
  • Biotechnology and Life Sciences
  • Others
• By Region:
• • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa
• Company Profiles:
• • Morubel N.V.
  • Maruha Nichiro Corporation
  • Pacific Seafood
  • 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