The global shrimp market value exceeded USD 80 billion in 2017; whereas the demand was 9,061.6 kilo tons in the same year. The market is expected to grow tremendously over the next few years due to its low cost as compared to other species including crabs, tuna, salmon, and lobster.

                                         Global Shrimp Market Production, 2012-2025 (Kilo Tons)

Shrimps, also known as prawns across Asia, are one the cheapest sources of protein among all the other types of seafood available. Shrimp farming has been a traditional occupation for centuries, prevalent across Asia. Large-scale commercial farming started around the 1970s, mainly to cater to the growing protein demands from Western Europe, US, and Japan. At present, shrimp farming has emerged as a robust occupation globally, with production mainly concentrated in Asia Pacific.

There are over 2,000 different species of shrimp across the world, of which only 350 are of economic interest. Of these, only 100 constitute yearly shrimp catches around the world. Different shrimp species are widely spread around the world, spreading from the equator to the poles.

Over the past few years, the production of shrimps from wild-harvest capture fish and aquaculture has almost equaled the former accounting for 43.8% of the global shrimp market volume share in 2017. Companies are focusing on expanding their aquaculture breeding grounds to reduce the reliability on wild-harvest capture to maintain the ecological balance. Thus, the shrimp aquaculture market share is expected to increase significantly during the forecast period.

Whiteleg shrimp, natantian decapods nei, akiami paste shrimp, giant tiger pawn, banana prawn and northern prawn are some of the most widely farmed shrimp species. Of these, 4,365 kilo tons of whiteleg shrimp were harvested in 2017. Also known as king prawn or pacific white shrimp, it is an exotic species with high demand from consumers present in North America and Europe.

Natantian decapods nei was the second largely harvested species accounting for 11.3% of the global shrimp market production in 2017. They are mainly bred, reared and harvested in Asia Pacific due to the suitable climate. China, Vietnam, Indonesia and India are the largest producers of this species in 2017.

Food was the largest end-use accounting for 72.5% of the global shrimp market share in 2017. Rising global demand for protein due to the awareness among consumers regarding its benefits for maintaining health is expected to augment the demand for shrimps over the world. The need for fresh and healthy food is expected to augment the growth of the global shrimp market over the forecast period.

                                  Global Shrimp Market Consumption, By End-Use, 2017 (%)

Asia Pacific was the largest producer contributing to the almost 80% of the global shrimp market’s value and volume in 2017. Conducive environment for fish rearing and breeding has resulted in establishing Asia Pacific as a leader within the global shrimp market. Additionally, large population and the consumption of fish as staple food in several countries have also resulted in the region, being the largest consumer of shrimps.

The global shrimp market is a highly competitive business with concentration depicting high fragmentation, owing to the presence of numerous regional players, especially with their manufacturing base in Asia Pacific. Thai Union Group, Aqua Star, Maruha Nichiro Corporation, Mazzetta Company, Charoen Pokphand Food PCL and Camanor Produtos Marinhos Ltda are some of the key players operating in the global shrimp market.

These players aim to enhance their global market position by targeting the customer base in other regions especially, those that prefer high-quality, nutritious seafood products. North America followed by Europe are the key target souks for well-established multinational players, owing to the growing consumption of shrimp in these regions.

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

Reasons for the study

• While studying the demand for animal proteins, we came across the fact that shrimps are popular among consumers due to their neutral taste, high protein content and low cost in comparison to other fish species
• From the fisheries perspective, we studied the aquaculture market which exhibited the growing production pattern of shrimps from breeding and rearing grounds

What does the report include?

• The global shrimp market report provides an in-depth analysis of the various species and end-uses
• The study also involves in-depth insights shrimp farming across various regions along the world along with import and export statistics
• Drivers, restraints and opportunities for the market have been covered in the study
• The study covers the different aspects of the value chain including the trends of the global shrimp feed market; hatcheries, rearing and breeding; distribution channel; and end-use
• The global shrimp market report covers qualitative and quantitative analysis of the market segmented on the basis of source, species and end-use
• Historical, current and forecast market data is provided for all the segments and geographies
• The study includes detailed profiles of key participants of the market based on product offerings, geographical presence, financial performance and recent initiative

Who should you buy this report?

• The global shrimp market study meets the needs for various parties including government and non-government associations, consultants , analysts, researchers and academicians
• The report is also suitable for companies that are currently operating in the market as well as those looking to integrate their operations from either raw material manufacturing or downstream fish products.
• Moreover, the study can also help new entrants take informed decisions about venturing into the market.