Shrimp Market Overveiw - 2027
Shrimp is a small invertebrate found in all marine ecosystem. Shrimps are essential components of the marine food web. Larger shrimp species are sought by commercial fisheries for human consumption. Some shrimp species are raised in aquaculture in tropical areas. They are omnivorous animals, which consume a wide range of plant and animal species. Conversely, they are natural prey for a variety of predators due to their small size and abundance.
Market Value Projections and Insights
The shrimp market size was valued at $31.6 billion in 2019, and is estimated to reach $54.6 billion by 2027, registering a CAGR of 9.2% from 2021 to 2027.
The white shrimp segment garnered the Highest share, as white shrimps can be stocked for a longer period and have a better feed-to-growth ratio.
The frozen shrimps segment held the largest market share, as the shelf life of frozen shrimps is significantly long.
Cold water segment held the highest share due to its superior quality, delicate taste, and higher price compared to warm water shrimp.
As consumers become more aware of environmental concerns, demand for shrimp farmed with eco-friendly methods is increasing. Certifications such as the Aquaculture Stewardship Council (ASC) label are gaining traction, with retailers and restaurants emphasizing sustainability to attract health-conscious and environmentally mindful consumers. This shift is driving innovation in feed, water management, and disease control in shrimp farming.
Diseases like Early Mortality Syndrome (EMS) and White Spot Syndrome have caused significant economic losses in key shrimp-producing countries. These outbreaks affect shrimp yield, quality, and overall production costs, creating supply chain disruptions. Farmers are investing in preventive measures, but these outbreaks remain a persistent risk.
An opportunity exists in the growing popularity of value-added shrimp products, such as pre-cooked, flavored, and ready-to-eat shrimp options. These convenient products cater to the increasing demand for easy meal solutions, particularly in urban areas where consumers are seeking healthy and quick meal alternatives. The development of innovative product offerings can help producers tap into new markets and increase profitability.
By Type
White segment is expected to grow at highest CAGR of 10.4% during the forecast period
Industry Highlights
Shrimp is one of the most consumed seafood items globally, with rising demand in Asia, North America, and Europe due to its versatility and nutritional benefits.
Leading producers include China, India, and Vietnam, with significant contributions from both wild capture and aquaculture farming.
Consumer spending on shrimp has increased, driven by the popularity of premium, sustainably sourced, and value-added shrimp products in retail and foodservice sectors.
Price fluctuations in shrimp due to seasonal changes, production challenges, and international trade tariffs impact consumer spending patterns.
The shrimp market has experienced notable growth driven by increasing global consumption, particularly in regions like Asia, North America, and Europe, where shrimp is a popular seafood choice due to its versatility and nutritional benefits. Leading shrimp-producing countries include China, India, and Vietnam, with production split between wild capture and aquaculture farming. Aquaculture, in particular, has grown significantly to meet rising demand. Consumer spending on shrimp has also surged, with a trend towards purchasing premium products, including sustainably sourced and value-added options such as pre-cooked or flavored shrimp. This shift aligns with consumer preferences for convenient, healthy, and ethically produced foods, especially in urban markets. The expanding foodservice sector has further contributed to this increase in spending, as shrimp remains a popular item in restaurants and retail outlets, pushing producers to innovate and improve product offerings to maintain competitive advantage.
By Source
Cold Water segment is expected to grow at highest CAGR of 9.8% during the forecast period.
Key Areas Covered in the Report
The competition is driven by factors such as production efficiency, quality, and price. Countries like India and Vietnam have an edge due to lower production costs, while Ecuador focuses on premium-quality shrimp with sustainability certifications.
Asian countries, including China and Japan, lead in shrimp consumption, while the growing popularity of seafood in Western diets contributes to demand in the U.S. and Europe.
Exporters are emphasizing premium, eco-friendly shrimp products to meet rising consumer demand for sustainability.
Consumers are increasingly prioritizing sustainability, with demand rising for ethically sourced and eco-certified shrimp.
The shrimp market is highly competitive, with leading producers like China, India, Vietnam, and Ecuador focusing on efficient production and sustainability to meet growing global demand. Consumption is rising, especially in Asia, North America, and Europe, driven by shrimp’s versatility and nutritional benefits. Key strategies in the industry include the adoption of sustainable aquaculture practices and innovations in disease management, as producers aim to cater to environmentally conscious consumers. Consumer preferences are shifting toward premium, eco-friendly, and value-added products, such as pre-cooked or flavored shrimp, while health-conscious buyers appreciate shrimp’s low-fat, high-protein profile. However, the market faces significant value chain challenges, including disease outbreaks (such as EMS and White Spot Syndrome), rising production costs, and stricter environmental regulations. These challenges, coupled with supply chain disruptions and fluctuating prices, put pressure on producers to balance sustainability with profitability, while ensuring consistent quality and supply in a highly competitive global market.
By Form
Frozen segment is expected to grow at highest CAGR of 9.7% during the forecast period.
Topics discussed in the report
Diverse genres and storytelling formats
Challenges from other media
Rise of independent creators
Shrimp as collectibles
Differentiation between physical and digital products
Influence of streaming and gaming
Role of sustainability
Segment Overview
The market is segmented into type, source, form, end use, distribution channel, and region. On the basis of type, the market is categorized into pink, brown, white, and others. Depending on source, it is segregated into cold water and hot water. By form, it is bifurcated into frozen and canned. As per end use, it is divided into residential and commercial. According to distribution channel, it is fragmented into hypermarkets & supermarkets, convenience stores, specialty stores, and online sales channel. Region wise, the shrimp market analysis is done across North America, Europe, Asia-Pacific, and LAMEA.
By End Use
Commercial segment is expected to grow at highest CAGR of 10.1% during the forecast period.
Pink shrimp (Farfantepenaeus duorarum) is a highly valued shrimp species, commonly found in the warm waters of the Atlantic Ocean and the Gulf of Mexico. It is known for its distinctive light pink color, tender texture, and sweet, mild flavor, making it a popular choice in both restaurants and home cooking. Pink shrimp is often used in dishes such as shrimp cocktails, salads, and seafood stews. This species thrives in shallow, sandy or muddy environments, and is typically harvested using trawling methods. Sustainability plays a significant role in pink shrimp fisheries, particularly in the U.S., where stringent regulations and best practices, such as bycatch reduction devices, ensure that the shrimp are harvested responsibly. The Florida pink shrimp fishery, for example, is well-regarded for its sustainable practices.
By Distribution Channel
Specialty Stores segment is expected to grow at highest CAGR of 10.8% during the forecast period.
Comparative Matrix of Key Segments
Parameters | Physical Comics | Digital Comics | Independent Titles | Mainstream Titles |
Market Share | Pink shrimp, particularly from the Gulf of Mexico and South Atlantic, holds a moderate share in the global shrimp market. | Brown shrimp (Penaeus aztecus) is widely harvested in the Gulf of Mexico, contributing significantly to both the U.S. domestic market and export markets. | White shrimp (Penaeus vannamei) dominates the global shrimp market, particularly due to its large-scale production in aquaculture. It is the most widely farmed shrimp species, especially in countries like India, Vietnam, and Ecuador, capturing the largest market share globally. | Other varieties like tiger shrimp, rock shrimp, and cold-water northern shrimp hold smaller but niche market shares. Tiger shrimp is particularly popular in Asia, while northern shrimp is favored in Europe and North America for its premium quality. |
Distribution Channels | Primarily sold through seafood markets, specialty retailers, and direct-to-consumer online platforms. | Sold through wholesale distributors, seafood processors, and retail chains, brown shrimp is popular in ready-to-cook and frozen food categories. | Widely distributed through retail chains, supermarkets, online seafood markets, and foodservice sectors. It is often sold fresh, frozen, and processed. | These shrimp varieties are commonly distributed through specialty seafood retailers and export markets, particularly targeting premium segments. They are also sold in gourmet restaurants and direct-to-consumer online channels. |
Challenges | Sustainable harvesting is a key concern due to environmental regulations, with a focus on preventing bycatch and protecting shrimp habitats. | Disease outbreaks in shrimp farming and overfishing concerns in wild-capture fisheries pose significant threats to supply. | Disease management in aquaculture, particularly Early Mortality Syndrome (EMS), is a persistent challenge in white shrimp farming. | Overfishing in the case of wild-caught varieties, and high production costs for aquaculture species like tiger shrimp, present market constraints. |
Key Players | Major players include U.S. producers like Key West Pink Shrimp Co., and processors from Florida and the Gulf region. | Companies like Ocean Beauty Seafoods and Gulf Island Shrimp & Seafood Co. are key producers. | Prominent global players include CP Foods (Thailand), Minh Phu Seafood (Vietnam), and Omarsa (Ecuador). | Maruha Nichiro (Japan) and Clearwater Seafoods (Canada) are key players in these segments, particularly for northern and cold-water shrimp. |
Regional Dynamics and Competition
In North America, particularly the United States, there is a growing trend toward sustainability and eco-friendly seafood sourcing. Consumers are increasingly favoring shrimp that are certified sustainable, driving demand for responsible fishing practices and aquaculture. This trend presents opportunities for producers to market sustainably sourced shrimp, particularly pink and white varieties. Additionally, the rise of online grocery shopping has opened new distribution channels for shrimp sales, enabling consumers to access fresh seafood conveniently. Europe offers significant opportunities for shrimp producers, especially in countries like Spain and France, where shrimp is a staple in traditional cuisines. The demand for premium and organic shrimp is on the rise, driven by health-conscious consumers and a focus on sustainable sourcing. The European market is also experiencing a shift toward value-added products, such as pre-cooked or marinated shrimp, catering to busy lifestyles. Producers can leverage these trends by developing innovative products that align with consumer preferences.
By Regions
Asia-Pacific dominates the market and is expected to grow at highest CAGR of 10.3% during the forecast period.
The prominent industry participants include Aqua Star Corp., Mazzetta Company LLC., Thai Union Group, Nordic Seafood A/S, Surapon Foods, Clearwater Seafoods Inc., High Liner Foods Inc., Avanti Feeds Ltd., The Waterbase Ltd., and Wild Oceans Pty Ltd.
Shrimp Market News Release
March 2024: Laitram Machinery acquired Martak's shrimp peeling business line in 2024. This move promises to increase the shrimp processing business landscape, especially for the Cold-Water Shrimp category.
February 2024: An Indian online seafood-selling company “Captain Fresh” acquired U.S.-based seafood importer “CenSea Inc.,” Through this acquisition, the company is aiming to bring more than 50% of its business from the U.S. after the acquisition, which was 25-30% earlier.
June 2022: “Ocean 14 Capital Fund” entered into a definitive agreement with USD 12 million to purchase a majority stake in “SyAqua”. SyAqua is one of the largest providers of shrimp genetics and has a footprint in the U.S., Malaysia, Singapore, Thailand, and Indonesia.
March 2020: Sykes Seafood, a Liverpool-based seafood provider, acquired European shrimp processor Klaas Puul. It is expected that a combination of these two seafood businesses will offer customers access to a wide range of products in frozen format for retail and foodservice. Klaas Puul is one of the largest European processors operating in the Netherlands, Germany, Belgium, Denmark, and Morocco.
Key Benefits for Stakeholders
This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the comic book market analysis from 2022 to 2032 to identify the prevailing comic book market opportunities.
The market research is offered along with information related to key drivers, restraints, and opportunities.
Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
In-depth analysis of the comic book market segmentation assists to determine the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the global market.
Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
The report includes the analysis of the regional as well as global comic book market trends, key players, market segments, application areas, and market growth strategies.
Shrimp Market Report Highlights
| Aspects | Details |
 By Type |
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 By Source |
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 By Form |
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 By End Use |
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 By Distribution Channel |
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 By Region |
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 Key Market Players | AVANTI FEEDS LTD, CLEARWATER SEAFOODS INC, THAI UNION GROUP, HIGH LINER FOODS INC, WILD OCEANS PTY LTD., THE WATERBASE LTD., MAZZETTA COMPANY, LLC, NORDIC SEAFOODS A/S, AQUA STAR CORP., SURAPON FOODS |
Analyst Review
Shrimp is one of the common and popular types of seafood, which is consumed globally. It can be found both in shallow and deep water, as well as in freshwater lakes and streams. It is a rich source of in calcium, iodine, vitamin D, vitamin B3, zinc, proteins, and omega-3 fatty acids, but low in saturated fats. Thus, it provides numerous health benefits, such as it improves bone & brain health, reduces weight, lowers the risk of cardiovascular diseases, alleviates eye fatigue, and lowers blood pressure.
The consumption of shrimp has been steadily increasing, especially in countries such as India and China, due to organized retail chains across Asia-Pacific. Moreover, given that demand for seafood products is elastic, a continuous increase in the number of consumers with higher disposable income is expected to have a positive impact on the growth of the market.
However, the factors such as lack of availability of aquafeed ingredients environmental degradation; and seed issues such as high seed rates, unavailability of seeds from research institutes, insufficient supply of hatchery seeds, mixed seeds, and dishonest methods of counting seeds are expected to restrict the growth of the shrimp market during the forecast period.
Furthermore, the outbreak of the COVID-19 pandemic has severely affected the demand for shrimp in international and domestic market during 2020. During the first quarter of 2020, most of the celebrations, events, and public gatherings were cancelled in shrimp-consuming countries, globally. In particular, the impacts of COVID-19 are serious in restaurant and hospitality industries following the lockdown measures.
The global shrimp market size was valued at $31.6 billion in 2019, and is estimated to reach $54.6 billion by 2027, registering a CAGR of 9.2% from 2021 to 2027. The growth of the global shrimp market is majorly driven by increase in demand for shrimps among health-conscious consumers.
The CAGR of Shrimp Market is 9.2% forecasted from 2021 to 2027. Shift in food habits toward consumption of healthier food products, such as seafood, which is regarded as rich source of animal proteins, is expected to drive growth of the global market during the forecast period.
The sample report of global shrimp market is available on Allied Market Research website on request.
The top companies in the global shrimp market include Aqua Star Corp., Mazzetta Company LLC., Thai Union Group, Nordic Seafood A/S, Surapon Foods, Clearwater Seafoods Inc., High Liner Foods Inc., Avanti Feeds Ltd., the Waterbase Ltd., and Wild Oceans Pty Ltd.
The shrimp market is segmented on the basis of type, source, form, end use, distribution channel, and region. On the basis of type, the market is categorized into pink, brown, white, and others. Depending on the source, it is segregated into cold water and hot water. By form, it is bifurcated into frozen and canned. As per end use, it is divided into residential and commercial. According to distribution channel, it is divided into hypermarkets & supermarkets, convenience stores, specialty stores, and online sales channel. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The base year calculated in the Shrimp Market report is 2019.
The major current trends are – Increased production of shrimp due to health benefits, Contract farming initiatives by exporters, growing research activities and launch of new products, increasing demand for ready-to-eat food items and several initiatives undertaken by government for technology upgradation. All these major current trends will shape the shrimp market in the future.
The Asia-Pacific market holds the maximum market share of the Global Shrimp Market. Shrimp has become a very large business and the global market is one of the most competitive in the world. It is characterized by regional companies in the Asia-Pacific region, targeting consumers seeking healthy, high-quality seafood products and multinational companies operating internationally.
An environmental degradation and lack of availability of aqua-feed ingredients are factors affecting the shrimp market
The COVID-19 pandemic severely dampened global shrimp production in 2020, with worldwide demand for fresh and frozen shrimp declining significantly. In Asia, early-season farming has slowed considerably, with a lower stock density and delayed stocking of ponds in most of the producing countries. As of early May 2020, pond stockings in India's largest Andhra state-produced white shrimp had decreased by 60% compared to the same period last year. The situation in the export processing sector was also severe. In addition to the shortage of raw materials in the producing countries, the social distancing rules and other control measures adopted to combat the COVID-19 pandemic continued to hinder the processing and shipment of existing import orders.
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