Shrimp Market Report, Share, Size, Trends, Demand by Region and Forecast Till 2025

Global Shrimp Market Research Report and Forecast 2025 Report Edition: 2020 © 2020 IMARC All Rights Reserved

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Report Description Global Shrimp Market Overview:

According to the latest report by IMARC Group, titled “ Shrimp Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2020-2025,� the global shrimp market size reached a volume of 5.10 Million Tons in 2019. Shrimp is one of the most widely consumed seafood species, which belongs to the largest class of crustaceans, known as Malacostraca. It is a small, free-swimming invertebrate marine animal with a laterally compressed and elongated body. Nowadays, shrimp is increasingly being used in a variety of cuisines as it is a rich source of essential nutrients like calcium, iodine, vitamin D and B3, zinc, protein, and omega -3 fatty acids. It helps in losing weight, lowering blood pressure relieving eye fatigue, improving bone and brain health and reducing the risk of developing cardiovascular diseases.

Shrimp Market Trends Frozen shrimp products have gained immense popularity among consumers on account of sedentary lifestyles and elevating income levels. This can also be accredited to their easy availability, longer shelflife and lower prices in comparison with fresh shrimp. Furthermore, governments in numerous countries are encouraging shrimp production by offering fiscal reliefs and incentives to farmers.

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157.3 146.7 152.0 141.4 136.1 125.5 130.8

160 140 120 100 80 60 40 20 0

120.2 2011

2012

2013

2014

2015

2016

2017

2018

In Million US$

In Million US$

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180 160 140 120 100 80 60 40 20 0

160.0 2019

175.9

181.2

186.5

165.3

170.6

2020

2021

2022

2023

2024

Similar initiatives are also being taken in Thailand, Vietnam and China, which is anticipated to attract new investors in the industry. Looking forward, the market is projected to reach a volume of 7.28 Million Tons by 2025, growing at a CAGR of 6.1% during 2020-2025.

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Moreover, the growing awareness among consumers about the advantages of shrimp consumption, such as it helps in battling cancer and protecting the skin from premature aging, has resulted in the increasing demand for shrimp products across the globe. Marine Products Exports Development Authority (MPEDA) in India is promoting shrimp culture through a cluster farming approach.

Global Shrimp Market Segmentation Market Segmentation by Species • • • •

Penaeus Vannamei Penaeus Monodon Macrobrachium Rosenbergii Others

On the basis of the species, the market has been classified into Penaeus Vannamei, Penaeus Monodon, Macrobrachium Rosenbergii and others. Currently, Penaeus Vannamei represents the most popularly consumed shrimp species due to its unique taste and high unit value.

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Market Segmentation by Environment • •

Wild Farmed

Based on the environment, the market has been bifurcated into wild and farmed shrimp. Farmed shrimp presently exhibit a clear dominance in the global shrimp industry.

Market Segmentation by Shrimp Size • • • • • • • •

Size <21 Size 21-25 Size 26-30 Size 31-40 Size 41-50 Size 51-60 Size 61-70 Size >70

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The market has also been segmented on the basis of the shrimp size which includes <21, 21-25, 26-30, 31-40, 41-50, 51-60, 61-70, and >70. At present, the 41-50 shrimp per pound category represents the largest segment, holding the majority of the global market share.

Market Segmentation by Distribution Channel • • • • •

Hypermarkets and Supermarkets Convenience Stores Hotels and Restraunts Online Sales Others

On the basis of the distribution channel, the market has been segregated into hypermarkets and supermarkets, convenience stores, hotels and restaurants, online sales, and others. Among these, hotels and restaurants hold the dominant market share.

Market Segmentation by Imports of Processed Shrimps •

Peeled

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Report Description • • •

Shell-On Cooked Breaded

Based on the imports of processed shrimp, the market has been classified into peeled, shell-on, cooked & breaded. Amongst these, peeled shrimp accounts for the majority of global market share.

Major Shrimp Producing Regions • • • • • •

China India Indonesia Vietnam ThailandEcuador Others

Major Shrimp Consuming Regions •

United States

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China Europe Japan Others

Region-wise, the market has been divided into major shrimp producing and consuming regions. The key shrimp producing regions include China, India, Indonesia, Vietnam, Thailand, Ecuador and Others.

On the other hand, leading shrimp consuming regions include the United States, China, Europe, Japan and Others. Amongst these, China represents both the largest producer and consumer.

Competitive Landscape: The competitive landscape of the market has also been examined with some of the key players.

A partial List of

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