Shrimp Market by Type (Brown Shrimp, Pink Shrimp, Rock Shrimp), Form (Canned, Fresh, Frozen), Distribution Channel, End-Use - Global Forecast 2024-2030

[185 Pages Report] The Shrimp Market size was estimated at USD 43.76 billion in 2023 and expected to reach USD 46.96 billion in 2024, at a CAGR 7.77% to reach USD 73.90 billion by 2030.

Shrimps are small, decapod crustaceans that are found in both salt and fresh water and have been farmed for centuries. Their versatile texture enables them to be utilized in various dishes such as soups, salads, sandwiches, wraps, fried rice, and stir-fries. Shrimp has grown widely popular as a form of seafood over the decades due to its taste, delicate flavor, and health benefits as a lean source of protein with a relatively low-fat content. There has been a significant increase in shrimp farming and trade activities worldwide, aiming to meet their demand across the food service sector and among individual consumers. However, disease outbreaks caused by shrimp and environmental concerns about shrimp farming have caused a reduced adoption of shrimp. In order to address these issues, companies have focused on new shrimp-based product innovation with a focus on quality certification and sustainable production. The high investment in aquaculture practices and advancements in shrimp farming technologies can significantly expand the provision of high-quality shrimp products. Market players are consistently upgrading their product portfolio by adding new flavors of ready-to-cook shrimp products and processed shrimp snacks to attract new customers.

The Asia-Pacific forms one of the largest markets for shrimp, driven by their exponential consumer demand for shrimp products and investments in shrimp farming across China, Vietnam, Indonesia, India, and Thailand. The region’s diverse culinary traditions and a growing number of seafood chains contribute to the market growth. Asian countries are known for their extensive seafood farming procedures and aquaculture practices based on both freshwater and marine shrimp production. Shrimp is also widely used in European cuisines, both in the foodservice sector and in households. The European market has portrayed an increasing emphasis on sustainable seafood sourcing, and certifications from the Marine Stewardship Council (MSC) in the UK and Aquaculture Stewardship Council (ASC) in the Netherlands are valued in the industry. In the Americas, the U.S. and Canada are among the largest consumers and importers of shrimp. The North American region has a well-established foodservice industry catering to their South American and Asian diaspora. Ecuador, Brazil, and Mexico are some of the known shrimp exporters in the region.

The market dynamics represent an ever-changing landscape of the Shrimp Market by providing actionable insights into factors, including supply and demand levels. Accounting for these factors helps design strategies, make investments, and formulate developments to capitalize on future opportunities. In addition, these factors assist in avoiding potential pitfalls related to political, geographical, technical, social, and economic conditions, highlighting consumer behaviors and influencing manufacturing costs and purchasing decisions.

The market disruption analysis delves into the core elements associated with market-influencing changes, including breakthrough technological advancements that introduce novel features, integration capabilities, regulatory shifts that could drive or restrain market growth, and the emergence of innovative market players challenging traditional paradigms. This analysis facilitates a competitive advantage by preparing players in the Shrimp Market to pre-emptively adapt to these market-influencing changes, enhances risk management by early identification of threats, informs calculated investment decisions, and drives innovation toward areas with the highest demand in the Shrimp Market.

The porter's five forces analysis offers a simple and powerful tool for understanding, identifying, and analyzing the position, situation, and power of the businesses in the Shrimp Market. This model is helpful for companies to understand the strength of their current competitive position and the position they are considering repositioning into. With a clear understanding of where power lies, businesses can take advantage of a situation of strength, improve weaknesses, and avoid taking wrong steps. The tool identifies whether new products, services, or companies have the potential to be profitable. In addition, it can be very informative when used to understand the balance of power in exceptional use cases.

The value chain of the Shrimp Market encompasses all intermediate value addition activities, including raw materials used, product inception, and final delivery, aiding in identifying competitive advantages and improvement areas. Critical path analysis of the <> market identifies task sequences crucial for timely project completion, aiding resource allocation and bottleneck identification. Value chain and critical path analysis methods optimize efficiency, improve quality, enhance competitiveness, and increase profitability. Value chain analysis targets production inefficiencies, and critical path analysis ensures project timeliness. These analyses facilitate businesses in making informed decisions, responding to market demands swiftly, and achieving sustainable growth by optimizing operations and maximizing resource utilization.

The pricing analysis comprehensively evaluates how a product or service is priced within the Shrimp Market. This evaluation encompasses various factors that impact the price of a product, including production costs, competition, demand, customer value perception, and changing margins. An essential aspect of this analysis is understanding price elasticity, which measures how sensitive the market for a product is to its price change. It provides insight into competitive pricing strategies, enabling businesses to position their products advantageously in the Shrimp Market.

The technology analysis involves evaluating the current and emerging technologies relevant to a specific industry or market. This analysis includes breakthrough trends across the value chain that directly define the future course of long-term profitability and overall advancement in the Shrimp Market.

The patent analysis involves evaluating patent filing trends, assessing patent ownership, analyzing the legal status and compliance, and collecting competitive intelligence from patents within the Shrimp Market and its parent industry. Analyzing the ownership of patents, assessing their legal status, and interpreting the patents to gather insights into competitors' technology strategies assist businesses in strategizing and optimizing product positioning and investment decisions.

The trade analysis of the Shrimp Market explores the complex interplay of import and export activities, emphasizing the critical role played by key trading nations. This analysis identifies geographical discrepancies in trade flows, offering a deep insight into regional disparities to identify geographic areas suitable for market expansion. A detailed analysis of the regulatory landscape focuses on tariffs, taxes, and customs procedures that significantly determine international trade flows. This analysis is crucial for understanding the overarching legal framework that businesses must navigate.

The regulatory framework analysis for the Shrimp Market is essential for ensuring legal compliance, managing risks, shaping business strategies, fostering innovation, protecting consumers, accessing markets, maintaining reputation, and managing stakeholder relations. Regulatory frameworks shape business strategies and expansion initiatives, guiding informed decision-making processes. Furthermore, this analysis uncovers avenues for innovation within existing regulations or by advocating for regulatory changes to foster innovation.

The FPNV positioning matrix is essential in evaluating the market positioning of the vendors in the Shrimp Market. This matrix offers a comprehensive assessment of vendors, examining critical metrics related to business strategy and product satisfaction. This in-depth assessment empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success, namely Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

The market share analysis is a comprehensive tool that provides an insightful and in-depth assessment of the current state of vendors in the Shrimp Market. By meticulously comparing and analyzing vendor contributions, companies are offered a greater understanding of their performance and the challenges they face when competing for market share. These contributions include overall revenue, customer base, and other vital metrics. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With these illustrative details, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

• Vitapro's USD 80 million Ecuador shrimp feed plant on track for early 2024 launch

  Nicovita, a Vitapro-owned shrimp feed producer, is investing USD 80 million in a new shrimp feed plant in Guayaquil, Ecuador. Despite difficult trading conditions caused by low market prices, Vitapro has continued with this investment. The new plant is scheduled to begin operations by the second quarter of 2024 and is expected to boost Nicovita's total production capacity by at least 40%. The demand for shrimp feed in Ecuador is on the rise, due to booming exports and record shipments last year worth over USD 6.6 billion coupled with advancements in technology such as automated feed equipment and aerator systems. Vitapro also owns Salmofood, a Chilean salmon farming supplier, and operates across several other South and Central American countries, including Nicaragua, Costa Rica, Panama, Guatemala, and Mexico. [Published On: 2023-06-20]

• NaturalShrimp, Inc. Signs Technology Licensing Agreement with Niterra Co., Ltd.

  NaturalShrimp, Inc. has entered into a licensing agreement with Niterra Co., Ltd. Under this agreement, Niterra will conduct a six-month trial of NaturalShrimp's patented shrimp-growing technologies. Successful completion of the trial is expected to pave the way for Niterra to undertake further studies and trials for other aquatic species under separate agreements. The companies share a commitment to pursuing innovative solutions to address tomorrow’s challenges and improve their water quality management capabilities in aquaculture systems. [Published On: 2023-06-08]

• Aquafeed partnership to supply more sustainable shrimp to European supermarkets

  Klaas Puul, Skretting, Protix, and Veramaris collaborated to provide more sustainable shrimp from Latin America to supermarkets in Europe. The first retailer to commit to this program is Albert Heijn, which is part of Ahold Delhaize. This initiative involves a new feed that replaces two ingredients for fish meal and fish oil. Additionally, all the remaining marine ingredients used can be sourced from seafood processing byproducts, which are traceable back to MarinTrust-accredited fisheries in Ecuador. The Soy used will be sourced from deforestation-free and land-conversion-free origins. Over the next three years, the consortium partners aim to reduce dependency on marine ingredients and ensure that all shrimp are produced from unablated broodstock and ASC-certified. [Published On: 2023-01-17]

The strategic analysis is essential for organizations seeking a solid foothold in the global marketplace. Companies are better positioned to make informed decisions that align with their long-term aspirations by thoroughly evaluating their current standing in the Shrimp Market. This critical assessment involves a thorough analysis of the organization’s resources, capabilities, and overall performance to identify its core strengths and areas for improvement.

The report delves into recent significant developments in the Shrimp Market, highlighting leading vendors and their innovative profiles. These include ACI Limited, All-Fish Handelsgesellschaft mbH, American Penaeid, Inc., AN PHAT CA MAU SEAFOOD CO., LTD, Apex Frozen Foods Ltd., Aqua Geno Exim, AU VUNG SEAFOOD, Camimex Group, Charoen Pokphand Foods PCL, Devi Seafoods, ESCAL S.A., Grand Ocean International Trading Ltd., Heiploeg Group, High Liner Foods, Inc., Huy Hoang Global Food Co., Ltd,, Latimers Seafood Ltd., Mazzetta Company, LLC, Minh Phu Seafood Corporation, Nippon Suisan Kaisha, Ltd., Nissui Corporation, Pinetree Vietnam Co., Ltd, PT Central Proteina Prima Tbk, Sea Port Products, Seaprimexco Vietnam, Surapon Foods Public Company Limited, Tizara Group, Vannamei White Shrimp, Viet Asia Foods, and Vietnam Fish One Co., Ltd..

This research report categorizes the Shrimp Market to forecast the revenues and analyze trends in each of the following sub-markets:

• Type
  • Brown Shrimp
  • Pink Shrimp
  • Rock Shrimp
  • Royal Red Shrimp
  • Tiger Shrimp
    • Black
    • Blue
    • Red
    • Wild Type
  • White Shrimp
• Form
  • Canned
  • Fresh
  • Frozen
• Distribution Channel
  • Convenience Stores
  • Hypermarkets & Supermarkets
  • Online Sales Channels
  • Specialty Stores
• End-Use
  • Commercial
  • Residential

• Region
  • Americas
    • Argentina
    • Brazil
    • Canada
    • Mexico
    • United States
      • California
      • Florida
      • Illinois
      • New York
      • Ohio
      • Pennsylvania
      • Texas
  • Asia-Pacific
    • Australia
    • China
    • India
    • Indonesia
    • Japan
    • Malaysia
    • Philippines
    • Singapore
    • South Korea
    • Taiwan
    • Thailand
    • Vietnam
  • Europe, Middle East & Africa
    • Denmark
    • Egypt
    • Finland
    • France
    • Germany
    • Israel
    • Italy
    • Netherlands
    • Nigeria
    • Norway
    • Poland
    • Qatar
    • Russia
    • Saudi Arabia
    • South Africa
    • Spain
    • Sweden
    • Switzerland
    • Turkey
    • United Arab Emirates
    • United Kingdom

1. Market Penetration: This section thoroughly overviews the current market landscape, incorporating detailed data from key industry players.
2. Market Development: The report examines potential growth prospects in emerging markets and assesses expansion opportunities in mature segments.
3. Market Diversification: This includes detailed information on recent product launches, untapped geographic regions, recent industry developments, and strategic investments.
4. Competitive Assessment & Intelligence: An in-depth analysis of the competitive landscape is conducted, covering market share, strategic approaches, product range, certifications, regulatory approvals, patent analysis, technology developments, and advancements in the manufacturing capabilities of leading market players.
5. Product Development & Innovation: This section offers insights into upcoming technologies, research and development efforts, and notable advancements in product innovation.

1. What is the current market size and projected growth?
2. Which products, segments, applications, and regions offer promising investment opportunities?
3. What are the prevailing technology trends and regulatory frameworks?
4. What is the market share and positioning of the leading vendors?
5. What revenue sources and strategic opportunities do vendors in the market consider when deciding to enter or exit?