Shrimp Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028
Description
Shrimp Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028
The global shrimp market size reached US$ 65.9 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 87.9 Billion by 2028, exhibiting a growth rate (CAGR) of 4.7% during 2023-2028.
A shrimp is a semi-transparent, elongated invertebrate aquatic animal that belongs to the largest class of crustaceans. It is a good source of vitamin B3 and D, calcium, protein, omega-3 fatty acids, selenium, and iodine, which assists in reducing inflammation, managing weight, and maintaining a healthy and lean body mass. It also aids in increasing bone strength and protecting against cardiovascular diseases. Besides this, it helps in lowering blood pressure, improving skin elasticity, mitigating the chances of skin cancer, and relieving eye fatigue. As a result, shrimp is increasingly being used in fresh and frozen forms to prepare appetizers, salads, soups, and curry dishes.
Shrimp Market Trends:
The increasing prevalence of obesity, eye problems, skin cancer, and cardiovascular diseases are catalyzing the demand for shrimp across the globe. In addition, the rising health awareness among individuals is increasing the consumption of shrimp and positively influencing the market. Apart from this, inflating disposable income levels and the rising expenditure capacity of the masses are contributing to market growth. This, in confluence with the growing utilization of shrimps in the food and beverage (F&B) industry, is creating a positive outlook for the market. Besides this, the rising use of shrimp shells in manufacturing cosmetics and personal care products, including creams and shampoos, is offering a favorable market outlook. It exhibits anti-aging and antimicrobial properties and aids in reducing hair loss, protecting skin from ultraviolet (UV) rays, and improving skin texture. Additionally, governments of numerous countries are promoting a sustainable aquaculture approach for fuel shrimp production while mitigating the negative impact on ocean wildlife. This is bolstering the growth of the market. Moreover, the rising focus of key market players on strategic collaborations to introduce innovative product variants in different packaging solutions across online and offline distribution channels is expected to drive the market.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global shrimp market report, along with forecasts at the global and regional level from 2023-2028. Our report has categorized the market based on species, size, and distribution channel.
Breakup by Species:
Penaeus vannamei
Penaeus monodon
Macrobrachium rosenbergii
Others
Penaeus Vannamei is currently one of the most popular species as it is farmed across various countries and offers numerous health benefits.
Breakup by Size:
<21
21-25
26-30
31-40
41-50
51-60
61-70
>70
Based on the size, the market has been segmented into <21, 21-25, 26-30, 31-40, 41-50, 51-60, 61-70 and >70.
Breakup by Distribution Channel:
Hypermarkets and Supermarkets
Convenience Stores
Hotels and Restaurants
Online Sales
Others
On the basis of the distribution channel, the market has been segregated into hypermarkets and supermarkets, convenience stores, hotels and restaurants, online sales, and others.
Regional Insights:
Major Producing Regions:
China
India
Indonesia
Vietnam
Thailand
Ecuador
Others
China represents one of the biggest producers of shrimp in the market due to increasing government initiatives for improving product quality and promoting sustainable farming practices.
Major Consuming Regions:
United States
China
Europe
Japan
Others
China represents the largest market as shrimp is a key ingredient of Chinese cuisine and it is extensively used in noodle soup and bonnet.
Competitive Landscape:
The competitive landscape of the market has also been analyzed with the detailed profiles of the key player operating in the market.
Key Questions Answered in This Report
1. What is the size of the global shrimp market?
2. What are the key factors driving the global shrimp market?
3. What has been the impact of COVID-19 on the global shrimp market?
4. What is the breakup of the global shrimp market based on the species?
5. What is the breakup of the global shrimp market based on the size?
6. What are the key producing regions in the global shrimp market?
7. What are the key consuming regions in the global shrimp market?
The global shrimp market size reached US$ 65.9 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 87.9 Billion by 2028, exhibiting a growth rate (CAGR) of 4.7% during 2023-2028.
A shrimp is a semi-transparent, elongated invertebrate aquatic animal that belongs to the largest class of crustaceans. It is a good source of vitamin B3 and D, calcium, protein, omega-3 fatty acids, selenium, and iodine, which assists in reducing inflammation, managing weight, and maintaining a healthy and lean body mass. It also aids in increasing bone strength and protecting against cardiovascular diseases. Besides this, it helps in lowering blood pressure, improving skin elasticity, mitigating the chances of skin cancer, and relieving eye fatigue. As a result, shrimp is increasingly being used in fresh and frozen forms to prepare appetizers, salads, soups, and curry dishes.
Shrimp Market Trends:
The increasing prevalence of obesity, eye problems, skin cancer, and cardiovascular diseases are catalyzing the demand for shrimp across the globe. In addition, the rising health awareness among individuals is increasing the consumption of shrimp and positively influencing the market. Apart from this, inflating disposable income levels and the rising expenditure capacity of the masses are contributing to market growth. This, in confluence with the growing utilization of shrimps in the food and beverage (F&B) industry, is creating a positive outlook for the market. Besides this, the rising use of shrimp shells in manufacturing cosmetics and personal care products, including creams and shampoos, is offering a favorable market outlook. It exhibits anti-aging and antimicrobial properties and aids in reducing hair loss, protecting skin from ultraviolet (UV) rays, and improving skin texture. Additionally, governments of numerous countries are promoting a sustainable aquaculture approach for fuel shrimp production while mitigating the negative impact on ocean wildlife. This is bolstering the growth of the market. Moreover, the rising focus of key market players on strategic collaborations to introduce innovative product variants in different packaging solutions across online and offline distribution channels is expected to drive the market.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global shrimp market report, along with forecasts at the global and regional level from 2023-2028. Our report has categorized the market based on species, size, and distribution channel.
Breakup by Species:
Penaeus vannamei
Penaeus monodon
Macrobrachium rosenbergii
Others
Penaeus Vannamei is currently one of the most popular species as it is farmed across various countries and offers numerous health benefits.
Breakup by Size:
<21
21-25
26-30
31-40
41-50
51-60
61-70
>70
Based on the size, the market has been segmented into <21, 21-25, 26-30, 31-40, 41-50, 51-60, 61-70 and >70.
Breakup by Distribution Channel:
Hypermarkets and Supermarkets
Convenience Stores
Hotels and Restaurants
Online Sales
Others
On the basis of the distribution channel, the market has been segregated into hypermarkets and supermarkets, convenience stores, hotels and restaurants, online sales, and others.
Regional Insights:
Major Producing Regions:
China
India
Indonesia
Vietnam
Thailand
Ecuador
Others
China represents one of the biggest producers of shrimp in the market due to increasing government initiatives for improving product quality and promoting sustainable farming practices.
Major Consuming Regions:
United States
China
Europe
Japan
Others
China represents the largest market as shrimp is a key ingredient of Chinese cuisine and it is extensively used in noodle soup and bonnet.
Competitive Landscape:
The competitive landscape of the market has also been analyzed with the detailed profiles of the key player operating in the market.
Key Questions Answered in This Report
1. What is the size of the global shrimp market?
2. What are the key factors driving the global shrimp market?
3. What has been the impact of COVID-19 on the global shrimp market?
4. What is the breakup of the global shrimp market based on the species?
5. What is the breakup of the global shrimp market based on the size?
6. What are the key producing regions in the global shrimp market?
7. What are the key consuming regions in the global shrimp market?
Table of Contents
478 Pages
- 1 Preface
- 2 Scope and Methodology
- 2.1 Objectives of the Study
- 2.2 Stakeholders
- 2.3 Data Sources
- 2.3.1 Primary Sources
- 2.3.2 Secondary Sources
- 2.4 Market Estimation
- 2.4.1 Bottom-Up Approach
- 2.4.2 Top-Down Approach
- 2.5 Forecasting Methodology
- 3 Executive Summary
- 4 Introduction
- 4.1 Overview
- 4.2 Key Industry Trends
- 5 Global Shrimp Market
- 5.1 Market Overview
- 5.2 Market Performance
- 5.2.1 Volume Trends
- 5.2.2 Value Trends
- 5.3 Market Breakup by Environment
- 5.4 Market Forecast
- 6 COVID-19 Impact on the Industry
- 7 Global Shrimp Market by Environment
- 7.1 Farmed Shrimp
- 7.1.1 Market Overview
- 7.1.2 Market Performance
- 7.1.2.1 Volume Trends
- 7.1.2.2 Value Trends
- 7.1.3 Major Shrimp Producing Countries
- 7.1.4 Major Shrimp Consuming Countries
- 7.1.5 Market Breakup by Species
- 7.1.5.1 Penaeus Vannamei
- 7.1.5.2 Penaeus Monodon
- 7.1.5.3 Macrobrachium Rosenbergii
- 7.1.5.4 Others
- 7.1.6 Market Breakup by Shrimp Size
- 7.1.7 Exports
- 7.1.8 Market Forecast
- 7.1.8.1 Volume Trends
- 7.1.8.2 Value Trends
- 7.2 Wild Shrimp
- 7.2.1 Market Overview
- 7.2.2 Market Performance
- 7.2.2.1 Volume Trends
- 7.2.2.2 Value Trends
- 8 Global Shrimp Industry Insights
- 8.1 Evolution of the Shrimp Industry
- 8.2 Shrimp as a Part of the Seafood Industry
- 8.3 Shrimp Products- Block-frozen Vs IQF
- 8.4 Shrimp Industry: Value Chain
- 8.5 Broodstock Sourcing
- 8.5.1 Regional Insights
- 8.5.2 Sourcing Challenges
- 8.6 Shrimp Feed Production
- 8.6.1 Regional Insights
- 8.6.2 Shrimp Feed Manufacturing Process
- 8.6.3 Major Feed Types Produced (Starter, Finisher and Grower)
- 8.6.4 Major Ingredients and Additives Used in the Shrimp Feed Industry
- 8.6.5 Key Manufacturers
- 8.6.6 Competitive Landscape
- 8.6.7 Key Success Factors in the Shrimp Feed Industry
- 8.7 Shrimp Farming
- 8.7.1 Regional Insights
- 8.7.2 Shrimp Farming Process Flow
- 8.7.3 Cropping Patterns in Major Markets
- 8.7.4 Role of Agents in the Shrimp Farming Industry
- 8.7.5 Types of Contracts in the Shrimp Farming Industry
- 8.7.6 Competitiveness Among the Major Markets
- 8.7.7 Impact of Macro and Micro Economic Environment
- 8.7.8 Government Support and Subsidies
- 8.7.9 Competitive Landscape
- 8.8 Shrimp Processing
- 8.8.1 Regional Insights
- 8.8.2 Primary Processing and Large-Scale Industrial Shrimp Processing
- 8.8.3 Role of Agents in the Shrimp Processing Industry
- 8.8.4 Types of Contracts in the Shrimp Processing Industry
- 8.8.5 Potential Markets for Processed Shrimp
- 8.8.6 Competitiveness Among the Major Markets
- 8.8.7 Impact of Macro and Micro Economic Environment
- 8.8.8 Government Support and Subsidies
- 8.8.9 Competitive Landscape
- 8.9 Value Added Shrimp
- 8.9.1 Types of Value-Added Products
- 8.9.2 Processing Requirements
- 8.9.3 Infrastructure and Skill Requirements
- 8.9.4 Key Market Drivers and Challenges
- 8.10 Shrimp Exports
- 8.10.1 Regional Insights
- 8.10.2 Competitiveness Among the Major Exporting Countries
- 8.10.3 Value Added Shrimp Exports
- 8.11 Price and Margin Analysis
- 8.11.1 Shrimp Feed Price Structure
- 8.11.2 Shrimp Feed Price Trends
- 8.11.3 Shrimp Feed: Revenues and Profit Margins
- 8.11.4 Farmed Shrimp Price Structure
- 8.11.5 Farmed Shrimp Price Trends
- 8.11.6 Shrimp Farming: Revenues and Profit Margins
- 8.11.7 Processed Shrimp Price Structure
- 8.11.8 Processed Shrimp Price Trends
- 8.11.9 Shrimp Processing: Revenues and Profit Margins
- 8.12 Shrimp Industry SWOT Analysis
- 8.12.1 Overview
- 8.12.2 Strengths
- 8.12.3 Weaknesses
- 8.12.4 Opportunities
- 8.12.5 Threats
- 8.13 Shrimp Industry Porters Five Forces Analysis
- 8.13.1 Overview
- 8.13.2 Bargaining Power of Buyers
- 8.13.3 Bargaining Power of Suppliers
- 8.13.4 Degree of Rivalry
- 8.13.5 Threat of New Entrants
- 8.13.6 Threat of Substitutes
- 9 Major Farmed Shrimp Producing Regions
- 9.1 China
- 9.1.1 Market Trends
- 9.1.2 Market Forecast
- 9.2 India
- 9.2.1 Market Trends
- 9.2.2 Market Forecast
- 9.3 Indonesia
- 9.3.1 Market Trends
- 9.3.2 Market Forecast
- 9.4 Vietnam
- 9.4.1 Market Trends
- 9.4.2 Market Forecast
- 9.5 Thailand
- 9.5.1 Market Trends
- 9.5.2 Market Forecast
- 9.6 Ecuador
- 9.6.1 Market Trends
- 9.6.2 Market Forecast
- 9.7 Others
- 9.7.1 Market Trends
- 9.7.2 Market Forecast
- 10 Major Farmed Shrimp Consuming Regions
- 10.1 United States
- 10.1.1 Market Trends
- 10.1.2 Market Forecast
- 10.2 China
- 10.2.1 Market Trends
- 10.2.2 Market Forecast
- 10.3 Europe
- 10.3.1 Market Trends
- 10.3.2 Market Forecast
- 10.4 Japan
- 10.4.1 Market Trends
- 10.4.2 Market Forecast
- 10.5 Others
- 10.5.1 Market Trends
- 10.5.2 Market Forecast
- 11 Farmed Shrimp Market Breakup by Species
- 11.1 Penaeus Vannamei
- 11.1.1 Market Trends
- 11.1.2 Market Forecast
- 11.2 Penaeus Monodon
- 11.2.1 Market Trends
- 11.2.2 Market Forecast
- 11.3 Macrobrachium Rosenbergii
- 11.3.1 Market Trends
- 11.3.2 Market Forecast
- 11.4 Others
- 11.4.1 Market Trends
- 11.4.2 Market Forecast
- 12 Farmed Shrimp Market Breakup by Shrimp Size
- 12.1 Size <21
- 12.1.1 Market Trends
- 12.1.2 Market Forecast
- 12.2 Size 21-25
- 12.2.1 Market Trends
- 12.2.2 Market Forecast
- 12.3 Size 26-30
- 12.3.1 Market Trends
- 12.3.2 Market Forecast
- 12.4 Size 31-40
- 12.4.1 Market Trends
- 12.4.2 Market Forecast
- 12.5 Size 41-50
- 12.5.1 Market Trends
- 12.5.2 Market Forecast
- 12.6 Size 51-60
- 12.6.1 Market Trends
- 12.6.2 Market Forecast
- 12.7 Size 61-70
- 12.7.1 Market Trends
- 12.7.2 Market Forecast
- 12.8 Size >70
- 12.8.1 Market Trends
- 12.8.2 Market Forecast
- 13 Farmed Shrimp Market Breakup by Distribution Channel
- 13.1 Hypermarkets and Supermarkets
- 13.1.1 Market Trends
- 13.1.2 Market Forecast
- 13.2 Convenience Stores
- 13.2.1 Market Trends
- 13.2.2 Market Forecast
- 13.3 Hotels and Restraunts
- 13.3.1 Market Trends
- 13.3.2 Market Forecast
- 13.4 Online Sales
- 13.4.1 Market Trends
- 13.4.2 Market Forecast
- 13.5 Others
- 13.5.1 Market Trends
- 13.5.2 Market Forecast
- 14 Market for Value Added Shrimp Products
- 14.1 Market Overview
- 14.2 Market Performance
- 14.3 Market Breakup by Region
- 14.4 Market Breakup by Type
- 14.5 Market Forecast
- 15 Imports of Processed Shrimps
- 15.1 Peeled
- 15.2 Shell-On
- 15.3 Cooked
- 15.4 Breaded
- 16 Competitive Landscape
- 16.1 Market Structure
- 16.2 Key Players
- 17 Shrimp Processing
- 17.1 Product Overview
- 17.2 Detailed Process Flow
- 17.3 Various Types of Unit Operations Involved
- 17.4 Mass Balance and Raw Material Requirements
- 18 Project Details, Requirements and Costs Involved
- 18.1 Land Requirements and Expenditures
- 18.2 Construction Requirements and Expenditures
- 18.3 Plant Machinery
- 18.4 Machinery Pictures
- 18.5 Raw Material Requirements and Expenditures
- 18.6 Raw Material and Final Product Pictures
- 18.7 Packaging Requirements and Expenditures
- 18.8 Transportation Requirements and Expenditures
- 18.9 Utility Requirements and Expenditures
- 18.10 Manpower Requirements and Expenditures
- 18.11 Other Capital Investments
- 19 Loans and Financial Assistance
- 20 Project Economics
- 20.1 Capital Cost of the Project
- 20.2 Techno-Economic Parameters
- 20.3 Product Pricing and Margins Across Various Levels of the Supply Chain
- 20.4 Taxation and Depreciation
- 20.5 Income Projections
- 20.6 Expenditure Projections
- 20.7 Financial Analysis
- 20.8 Profit Analysis
- 21 Key Player Profiles
Pricing
Currency Rates
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