Shrimp Market - Growth Factors Forecast to 2025

By 2025, the global shrimp market revenue is estimated to reach USD 133.43 billion by 2025 driven by the increasing demand for the product as a cheap source of protein. Rising consumer demand for protein across the world due to its various benefits for general well-being is expected to augment the demand for shrimps over the forecast period.

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Adroit Research launched a study titled, "Global Shrimp Market Size 2017 By Source (Aquaculture, Capture fisheries), By Species (Giant Tiger Prawn, Whiteleg Shrimp, Akiami Paste Shrimp, Natantian Decapods Nei, Banana Prawn, Northern Prawn, Others), By End-use (Food, Non-Food), By Region and Forecast 2018 to 2025". The study covers the global shrimp market value and volume for a period ranging between 2012 to 2025, where 2012 to 2017 imply the actual annual consumption with forecast between 2018 and 2025. The global shrimp market report also includes qualitative insights of the market such as drivers, restrains, value chain, regulatory framework and trade statistics. The value chain has been analyzed in detail covering key stages. Additionally, we have provided a glimpse of the global shrimp feed market. The global shrimp market 2018 gives a holistic view encompassing production, consumption, import and export for key regions and countries.

Shrimps, either fresh or frozen, are typically available for direct human consumption. Frozen shrimps are gaining popularity as they are available in recipe forms catering to various cuisines. Rising demand for packaged foods is expected to augment the global shrimp market demand over the forecast period.

Lately, shrimps are majorly harvested from aquaculture ponds as their growth and quality can be controlled. Additionally, aquaculture involves the rearing, breeding and capture of specific species, a contrary scenario to wild captured fisheries. Moreover, authorized bodies are implementing regulations to reduce reliance on captured fisheries to maintain the ecological balance. Captured fisheries are expected to account for 35.8% of the global shrimp volume market share in 2025.

The growing demand for shrimp coupled with its seasonality has reflected notable volatility in its pricing. In 2017, the global shrimp prices were about USD 9 per kilogram. These prices change every month and are determined by numerous factors such as production and demand. Besides these economic parameters, the quality and therefore, the price of the final product is determined by the composition of shrimp feed.

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Food accounted for over 70% of the global shrimp market consumption in 2017. Companies adhere to various food safety & quality standards such as GMP, EFSIS/BRC, ACC, HACCP, HALAL, ISO 9001 and ISO 17025 and Global Standard. Standardization validated via a certification has resulted in assisting companies to market their products under various brand names that are now recognized by consumers. This trend holds tremendous weightage in economies of North America and Europe.

Aqua Star, Thai Union Group, Camanor Produtos Marinhos Ltda, Mazzetta Company, Maruha Nichiro Corporation, and Charoen Pokphand Food PCL are the leading players present within the global shrimp market. These companies are focusing on expanding their presence in the global shrimp industry over the next few years by adopting strategies such as mergers & acquisitions and product standardization. For instance, Charoen Pokphand Foods PCL purchased a 40% ownership in one of the leading shrimp farmers & processors in Brazil, i.e., Camanor Produtos Marinhos Ltda, in April 2018. The deal was valued at USD 17.5 million (EUR 14.1 million).

Key segments of the global shrimp market

Source Overview, 2012-2025 (Kilo Tons) (USD Million)

Capture fisheries

Aquaculture

Species Overview, 2012-2025 (Kilo Tons) (USD Million)

Whiteleg shrimp

Natantian decapods nei

Akiami paste shrimp

Giant Tiger Prawn

Banana prawn

Northern Prawn

Others

End-use Overview, 2012-2025 (Kilo Tons) (USD Million)

Food

Non-food

Regional Overview, 2012-2025 (Kilo Tons) (USD Million)

North America

U.S.

Mexico

Europe

Asia-Pacific

China

India

Japan

Singapore

Thailand

Vietnam

Indonesia

Middle East & Africa

Saudi Arabia

Egypt

South America

Brazil

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Adroit Market Research is an India-based business analytics and consulting company incorporated in 2018. Our target audience is a wide range of corporations, manufacturing companies, product/technology development institutions and industry associations that require understanding of a market’s size, key trends, participants and future outlook of an industry. We intend to become our clients’ knowledge partner and provide them with valuable market insights to help create opportunities that increase their revenues. We follow a code– Explore, Learn and Transform. At our core, we are curious people who love to identify and understand industry patterns, create an insightful study around our findings and churn out money-making roadmaps.

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