Shrimp Market Size was valued at USD 41.37 billion in 2022 and is expected to reach USD 84.89 billion by 2030, and grow at a CAGR of 9.4% over the forecast period 2023-2030.
Shrimps likewise called prawns across Asia pacific district are considered as one the least expensive wellsprings of protein among the wide range of various kinds of fish accessible. Shrimp cultivating has been a conventional occupation for quite a long time, common across Asia. Enormous scope business cultivation began around the 1970s, fundamentally to take special care of the developing protein requests from Western Europe, the US, and Japan. As of now, shrimp cultivation has arisen as a vigorous occupation worldwide, with creation fundamentally amassed in the Asia Pacific.
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There are more than 2,000 distinct types of shrimp across the world, of which just 350 are of monetary interest. Of these, the main 100 comprise yearly shrimp gets all over the planet. Different shrimp species are broadly spread all over the planet, spreading from the equator to the posts.
Throughout recent years, the development of shrimps from wild-gather catch fish and hydroponics has nearly risen to the previous representing 65% of the worldwide shrimp market volume share in 2020. Organizations are zeroing in on growing their hydroponics in favorable places to lessen the unwavering quality of wild-collect catch to keep up with the environmental equilibrium. Hence, the shrimp hydroponics portion of the overall industry is supposed to increment essentially during the gauge time frame.
Driving Factors:
Reasonable seafood decisions.
Adding high protein esteem.
Restraining Factors:
The exchange battle between various economies.
Opportunities:
Rising coordinated corporate store across the locale.
The states of major creating nations have recognized the fish area as a high need industry and are at present advancing it with a few financial reliefs and motivating forces.
Challenges:
Different viral, bacterial and parasitic illnesses.
Annihilation of mangroves and other wetland territories; scattering of synthetic compounds and supplements into the climate; contamination and saltiness.
The coronavirus pandemic has hampered the handling and shipments of the current import orders. In Japan, the shrimp request is probably going to develop for the worth-added shrimp contrasted with the crude frozen shrimp. Nonetheless, the fundamental exporters of these items (Thailand, Vietnam, and China) were impacted by the cancelations of orders from Japan, North America, the European Union, and Australia during the main quarter of 2020, and yet, there was an ascent in the interest for shrimps during the pandemic attributable to the way that it helps resistance. Subsequently, there was an expanded interest inferable from the way that it will help with battling COVID-19.
The market is sectioned into type, source, structure, end-use, circulation channel, and locale. Based on type, the market is ordered into pink, brown, white, and others. Contingent upon source, it is isolated into cold water and high temp water. By structure, it is bifurcated into frozen and canned. According to end-use, it is partitioned into private and business. As indicated by the appropriation channel, it is divided into hypermarkets and general stores, odds and ends shops, specialty stores, and online deals channels. Area-wise, the shrimp market examination is done across North America, Europe, Asia-Pacific, and LAMEA.
By Type:
Pink
Brown
White
Others
By Source:
Cold Water
Hot Water
By Form
Frozen
Canned
By End Use:
Residential
Commercial
By Distribution Channel:
Hypermarkets & Supermarkets
Convenience Stores
Specialty Stores
Online Sales Channel
North America
USA
Canada
Mexico
Europe
Germany
UK
France
Italy
Spain
The Netherlands
Rest of Europe
Asia-Pacific
Japan
south Korea
China
India
Australia
Rest of Asia-Pacific
The Middle East & Africa
Israel
UAE
South Africa
Rest of Middle East & Africa
Latin America
Brazil
Argentina
Rest of Latin America
The Asia Pacific overwhelmed the market. The rising reception of shrimps in conventional cooking styles in China, India, Australia, Japan, and Vietnam has supported its interest throughout recent years. Furthermore, the developing interest for shrimps from the food service area impels the APAC market development in the district.
North America is supposed to develop with a consistent development rate significantly because of the rising interest for earthy colored shrimps and enormous estimated decapod shellfish around here. The rising prevalence of earthy-colored types and different sorts of new decapod shellfish in the district has expanded the interest in bringing in different local shrimps.
Europe is supposed to develop with a more slow development contrasted with North America. The presence of other ocean species limits the development of the market for shrimps, yet the interest is estimated to consistently develop. There is expanding interest for other cutthroat fish like fish, cod, salmon, and Alaska Pollock in the European market for quite a while.
The South American decapod shellfish market is projected to observe stable development. The significant creation of decapod shellfish in South America happens in Ecuador. The decapod shellfish market in this area offers rewarding chances to further develop shrimp cultivating approaches, foster new strains, and grow fish cultivating exercises in Brazil and Argentina. Ecuador shrimp market to offer promising open doors for trade before very long with expanding creation since a most recent couple of years.
Companies covered under the Shrimp market are Mazzetta Company, LLC, Apex Frozen Foods Ltd., Seaprimexco Vietnam, Liveris Afentoulis & Co., Grand Ocean Seafoods Co., Ltd, Charoen Pokphand Foods PCL, Grupo Iberica Congelados, S.A, Ocean More Foods Co., limited, Others.
Apex Frozen Foods Ltd-Company Financial Analysis
| Report Attributes | Details |
|---|---|
| Market Size in 2022 | US$ 41.37 Billion |
| Market Size by 2030 | US$ 84.89 Billion |
| CAGR | CAGR 9.4% From 2023 to 2030 |
| Base Year | 2022 |
| Forecast Period | 2023-2030 |
| Historical Data | 2020-2021 |
| Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
| Key Segments | • by Type (Pink, Brown, White, and Others), Source (Cold Water and Hot Water) • by Form (Frozen and Canned) • by End-Use (Residential and Commercial) • by Distribution Channel (Hypermarkets & Supermarkets, Convenience Stores, Specialty Stores, and Online Sales Channel) |
| Regional Analysis/Coverage | North America (USA, Canada, Mexico), Europe (Germany, UK, France, Italy, Spain, Netherlands, Rest of Europe), Asia-Pacific (Japan, South Korea, China, India, Australia, Rest of Asia-Pacific), The Middle East & Africa (Israel, +D11UAE, South Africa, Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America) |
| Company Profiles | Mazzetta Company, LLC, Apex Frozen Foods Ltd., Seaprimexco Vietnam, Liveris Afentoulis & Co., Grand Ocean Seafoods Co., Ltd, Charoen Pokphand Foods PCL, Grupo Iberica Congelados, S.A, Ocean More Foods Co., limited, Others. |
| Key Drivers | •Reasonable seafood decisions. •Adding high protein esteem. |
| Market Challenges: | •Different viral, bacterial and parasitic illnesses. |
The market size of the shrimp market in 2022 was USD 41.37 billion.
There are more than 2,000 distinct types of shrimp across the world.
The shrimp contains a hefty serving of protein, vitamin B12, and essential minerals like selenium, zinc, and iodine
Shrimp cultivating has been a conventional occupation for quite a long time, common across the Asia Pacific region.
Table of Contents
1. Introduction
1.1 Market Definition
1.2 Scope
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
3.1 Drivers
3.2 Restraints
3.3 Opportunities
3.4 Challenges
4. Impact Analysis
4.1 COVID-19 Impact Analysis
4.2 Impact of Ukraine- Russia war
4.3 Impact of ongoing Recession
4.3.1 Introduction
4.3.2 Impact on major economies
4.3.2.1 US
4.3.2.2 Canada
4.3.2.3 Germany
4.3.2.4 France
4.3.2.5 United Kingdom
4.3.2.6 China
4.3.2.7 Japan
4.3.2.8 South Korea
4.3.2.9 Rest of the World
5. Value chain analysis
6. Porter’s 5 forces model
7. PEST analysis
8. Global Shrimp Market segmentation, by Type
8.1 Pink
8.2 Brown
8.3 White
8.4 Others
9. Global Shrimp Market segmentation, by Source
9.1 Cold Water
9.2 Hot Water
9.3 By Form
9.4 Frozen
9.5 Canned
10. Global Shrimp Market segmentation, by End-Use
10.1 Residential
10.2 Commercial
11. Global Shrimp Market segmentation, by Distribution Channel
11.1 Hypermarkets & Supermarkets
11.2 Convenience Stores
11.3 Specialty Stores
11.4 Online Sales Channel
12. Global Shrimp Market, by region/ country
12.1 Introduction
12.2 North America
12.2.1 USA
12.2.2 Canada
12.2.3 Mexico
12.3 Europe
12.3.1 Germany
12.3.2 UK
12.3.3 France
12.3.4 Italy
12.3.5 Spain
12.3.6 The Netherlands
12.3.7 Rest of Europe
12.4 Asia-Pacific
12.4.1 Japan
12.4.2 South Korea
12.4.3 China
12.4.4 India
12.4.5 Australia
12.4.6 Rest of Asia-Pacific
12.5 The Middle East & Africa
12.5.1 Israel
12.5.2 UAE
12.5.3 South Africa
12.5.4 Rest
12.6 Latin America
12.6.1 Brazil
12.6.2 Argentina
12.6.3 Rest of Latin America
13. Company profiles
13.1 Mazzetta Company, LLC
13.1.1 Financial
13.1.2 Products/ Services Offered
13.1.3 Swot Analysis
13.1.4 The SNS View
13.2 Apex Frozen Foods Ltd.
13.3 Seaprimexco Vietnam
13.4 Liveris Afentoulis & Co.
13.5 Grand Ocean Seafoods Co., Ltd
13.6 Charoen Pokphand Foods PCL
13.7 Grupo Iberica Congelados, S.A
13.8 Ocean More Foods Co., Limited,
14. Competitive Landscape
14.1 Competitive Bench Marking
14.2 Market Share Analysis
14.3 Recent Developments
15. Conclusion
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