Shrimp Market Report, Size, Share, Trends, Segment & Forecast 2027

Shrimp Market is expected to grow at a CAGR of around 8% over the forecast period (2021-2027)

A comprehensive overview of the Shrimp Market is recently added by UnivDatos to its humongous database. The report has been aggregated by collecting informative data from various dynamics such as market drivers, restraints, and opportunities. This innovative report makes use of several analyses to get a closer outlook on the Shrimp Market in the Global context. This report offers a detailed analysis of the latest industry developments and trending factors that are influencing market growth. Furthermore, this statistical market research repository examines and estimates the Shrimp Market at the regional & country levels. Shrimp Market is expected to grow at a CAGR of ~8% between 2021-2027 

Market Overview 

Shrimp is a

high-protein, selenium, and vitamin B12 source. In addition, they have a high

phosphorus and iron content. Furthermore, governments in developing countries

have implemented several steps to improve

technology in shrimp farms, which are projected to benefit the small-scale

sector and the impoverished people involved in the industry's development, consequently boosting shrimp

market growth. Shrimp for home or restaurant consumption continues to rise

in popularity across the globe, owing to their

low cost and excellent nutritional value. For instance: Frozen shrimp

exports climbed by 4.2% in value from US$ 17.1 billion in 2016 to US$ 17.8 billion in 2020. Exports of frozen shrimp declined by

-7.6% year over year from 2019 to 2020. Fresh, salted, and smoked shrimp exports, on the other hand,

fell by 99.4% from US$ 522.2 million in 2016 to US$ 3.1 million in 2020. Export sales of frozen seawater shrimps was US$ 16.2 billion in 2020, up 4.4% from US$ 15.6 billion in 2016, but decreased -7.8% from 2019 to 2020. 

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COVID-19 Impact 

The COVID-19

pandemic has impacted positively and negatively both on the Shrimp market. In comparison to 2019, production increased moderately in

Ecuador, Indonesia, and Vietnam, but harvests decreased in India, Thailand,

Malaysia, and Bangladesh. China's production declines may have been far greater

than in other countries. The Ecuadorian National Chamber of Aquaculture forecasted

7-8% increase in farmed shrimp production in 2020, compared to

the 650,000 tonnes gathered in 2019. In addition, Shrimp ex-farm

prices peaked in the fourth quarter of 2020 and since then it firmed up,

particularly for large and medium-sized shrimp. However, due to

lockdown the demand from hotels & restaurants declined on the other hand

retail sales of shrimp increased due to low price and increased demand from

household. 

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Shrimp Market report is studied thoroughly with several aspects that

would help stakeholders in making their decisions more curated.  

By Type, the market is primarily bifurcated into:      

Wild Shrimp 

Farmed Shrimp 

By Type,

Shrimp Market is classified into Wild Shrimp, and Farmed Shrimp. The Wild Shrimp segment has acquired the highest market

share in the Shrimp market and is expected to continue to grow over the

forecasted period. This growth is attributed to the wide availability. 

By Species, the market is

primarily studied into:   

Penaeus Vannamei 

Penaeus Monodon     

Macrobrachium Rosenbergii    

Others 

Based on

Species, the Shrimp market is segmented into Penaeus Vannamei, Penaeus Monodon, Macrobrachium Rosenbergii, and Others. The Penaeus Vannamei segment accounted for the larger market share in 2020 and

is projected to witness a significant

growth rate during the forecast period.  

By Category, the market is

primarily studied into:             

Peeled                 

Shell-on                

Cooked               

Others 

Amongst

Category, the Shrimp market is segmented into Peeled, Shell-on, Cooked, and

Others. Peeled segment dominated

the Shrimp Market in the year 2020 and expected to remain leading segment over the forecast period.  

By Distribution Channel, the market is

primarily studied into:            

Hypermarkets & Supermarkets              

Specialty Stores           

Hotels & Restaurants             

Online          

Others 

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Based on distribution channel, the market is

segmented into Hypermarkets & Supermarkets, Specialty Stores, Hotels

& Restaurants, Online, and Others. Specialty Stores contributes to most of the

revenue for the Shrimp market. 

Shrimp Market Region Segmentation

Includes: 

North America     

Europe 

Asia Pacific 

Rest of World 

Based on the

estimation, Asia-Pacific dominated the

market in 2020. Europe is expected to witness the highest CAGR growth during the forecast period.  

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The major players targeting the market includes:                 

Aqua Star Corp.                   

Mazzetta Company, LLC           

Clearwater Seafoods Inc.    

Thai Union Group           

Nordic Seafood A/S      

Apex Frozen Foods Ltd.              

Seaprimexco Vietnam       

Grupo Iberica Congelados, S.A              

High Liner Foods Inc.              

Charoen Pokphand Foods PCL 

Competitive Landscape 

The degree of

competition among prominent companies has been elaborated by analyzing several

leading key players operating in the Global context. The specialist team of research analysts sheds light on

various traits such as Global market

competition, market share, most recent industry advancements, innovative

product launches, partnerships, mergers, or acquisitions by leading companies

in the Shrimp Market. The major players have been analyzed using different research

methodologies for getting insight views on market competition. 

Key questions resolved through this analytical market

research report include:   

What are the latest trends, new patterns, and advancements in the Shrimp Market? 

Which factors are influencing the Shrimp Market over the forecast period? 

What are the global challenges, threats, and risks in the Shrimp Market?  

Which factors are propelling and restraining the Shrimp Market? 

What are the demanding global regions of the Shrimp Market? 

What will be the market size in the upcoming

years?  

What are the crucial market acquisition strategies and policies applied

by the companies? 

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the requirement of different

businesses, regions, and countries, we offer customized reports as per your

requirements of business nature. Please let us know If you have any custom needs.  

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