Organic shrimp is one of the key products of the aquaculture market. It is being cultivated under the controlled environment to increase the production for commercial purpose. Organic shrimp is lot in demand within the seafood segment owing to the taste and nutritional benefits it offers. It is considered to be a rich source of selenium, iodine, and other nutrients, which are helpful in keeping heart healthy.
COVID-19 Scenario Analysis:
- The closure of various activities within the countries due to COVID-19 led to the decline in the practices like aquaculture too. This not only affected the scale of the cultivation of organic shrimp but also the growth of the market.
- The shops and retail stores were shut due to lockdown observed worldwide. This also affected the trade of the seafood products which in turn hampered the sales of organic shrimp in various countries around the world.
- The sale of the food additives is expected to grow after worldwide release of the lockdown situation due to COVID-19.
Top Impacting Factors: Market Scenario Analysis, Trends, Drivers and Impact Analysis
The organic shrimp market is expected to experience growth due to rise in consumption & demand for nutritional rich seafood and gaining popularity of aqua farming practices.
Change in the taste and preferences of the people, rise in health concerns, change in lifestyle, and increase in number of restaurants worldwide offer multiple cuisines. This contributes toward the growth of the organic shrimp market.
Increase in demand for ready-to-go meals and seafood snacks is expected to boost the growth of organic shrimp market.
However, change in the climatic conditions like temperature, acidity of water of oceans, and oxygen level affect their cultivation directly or indirectly and eventually can hamper the growth of the market.
The global organic shrimp market trends are as follows:
The major players of the organic shrimp market are focusing on enhancing the quality of the packaging of the products to improve their shelf life and to protect the integrity of shrimps. Such measures are being taken for more profitable gains and to strengthen their position in the market.
Asia-Pacific accounts for one- third of the organic shrimps market and is expected exhibit growth during the forecast period. This is due to rise in awareness among people regarding the advantages of consumption of organic food and growth in demand for ready to eat packaged food. The appropriate climatic conditions and availability of labor at cheaper rates also makes the region a potential market for organic shrimps.
Key Benefits of the Report:
- This study presents the analytical depiction of the global organic shrimp industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global organic shrimp market share.
- The current market is quantitatively analyzed to highlight the global organic shrimp market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed global organic shrimp market analysis based on competitive intensity and how the competition will take shape in the coming years.
Questions Answered in the Organic Shrimp Market Research Report:
- What are the leading market players active in the organic shrimp market?
- What the current trends will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities in the market?
- What future projections would help in taking further strategic steps?
Organic Shrimps Market Report Highlights
By Distribution Channel
Key Market Players
Ananda Group, Dom International Limited, Artisanfish LLC, Omarsa S.A, Vinnbio India Pvt. Ltd., MSeafood Corp, Caribbean Shrimp Company Limited, Seajoy Group, and Orchid Marine, Ristic GmbH