Global Shrimp Market Size, Share, Trends, Growth and Forecast 2032
Shrimp Market: By Species (Penaeus Monodon, Penaeus Vannamei, Macrobrachium Rosenbergii, and Others), By Distribution Channel (Convenience Stores, Hypermarkets & Supermarkets, Online Sales, Hotels & Restaurants, and Others), and By Region - Industry Perspective, Comprehensive Analysis, and Forecast, 2024 - 2032
| Market Size in 2023 | Market Forecast in 2032 | CAGR (in %) | Base Year |
|---|---|---|---|
| USD 2.64 Billion | USD 5.92 Billion | 9.4% | 2023 |
How big is the Shrimp Market?
According to Zion Market Research, the global Shrimp Market was worth USD 2.64 Billion in 2023. The market is forecast to reach USD 5.92 Billion by 2032, growing at a compound annual growth rate (CAGR) of 9.4% during the forecast period 2024-2032. The report offers a comprehensive analysis of the market, highlighting the factors that will determine growth, potential challenges, and opportunities that could emerge in the Shrimp industry over the next decade.
Introduction
Shrimp is most popular among the traditional sea foods across the globe. According to NCBI, muscle of shrimp contains huge proportion of minerals as well as proteins and low in fats. Apart from this, the lipids of shrimp demonstrate chemo-preventive and chemo-protective features. These are key biological features of this thin food product.
Market Growth Dynamics
Many of the biological events reported for lipid & methanolic extracts from the muscle of the shrimps have the ability to alter biological processes and this has been associated to preventing of cancer in human beings. This beneficial feature of shrimp consumption is likely to drive the demand for shrimps over the upcoming years. Apart from this, the presence of chemopreventive compounds in shrimps offers health benefits to humans as it possesses anti-inflammatory, anti-oxidant, anti-angiogenic, anti-mutagenic, and anti-proliferative characteristics. This is likely to generate he market demand over the coming years.
For instance, anti-oxidants present in shrimps avoid damage of cells through reaction with free radicals along with their elimination from the human body. Furthermore, anti-oxidants have the ability to promote relapse of premalignant injuries along with arresting the growth of premalignant cuts into cancer growth. Furthermore, anti-mutagenic chemo-preventive compounds presence in shrimps provide protection against DNA mutation caused due to mutagenic agents as well as cancer initiation. The anti-proliferative compounds in shrimps slows down the uncontrolled proliferation of cancer cells. Furthermore, the anti-inflammatory feature of shrimps help in preventing the creation of suitable environment for the growth of cancer tumors. Apart from this, anti-angiogenic compounds in shrimps helps in avoiding the cancer cell multiplication through reduction of blood nutrients in the cancer tumors.
Moreover, shrimps are also the source of various carotenoids that also help in cancer prevention. The massive presence of polyunsaturated fatty acids in shrimps have been associated to play a key role in preventing human disorders such as heart ailments. However, though shrimps food comprise of reduced fat content, it consists of high cholesterols levels and this, in turn, is likely to deter the shrimp market expansion over the coming years.
Shrimp Market: Report Scope
| Report Attributes | Report Details |
|---|---|
| Report Name | Shrimp Market |
| Market Size in 2023 | USD 2.64 Billion |
| Market Forecast in 2032 | USD 5.92 Billion |
| Growth Rate | CAGR of 9.4% |
| Number of Pages | 110 |
| Key Companies Covered | Surapon Foods Public Company Limited, Trident Seafood’s Corporation, Nippon Suisan Kaisha, Ltd., and Charoen Pokphand Food PCL |
| Segments Covered | By Species, By Shrimp Size, By Distribution Channel And By Region |
| Regions Covered | North America, Europe, Asia Pacific (APAC), Latin America, Middle East, and Africa (MEA) |
| Base Year | 2023 |
| Historical Year | 2018 - 2022 |
| Forecast Year | 2024 - 2032 |
| Customization Scope | Avail customized purchase options to meet your exact research needs. Request For Customization |
Asia Pacific To Lead Overall Shrimp Market Surge During 2024-2032
The surge in the market in the Asia Pacific zone over the forecast timeline is owing to large-scale shrimp production in countries like China. In addition to this, thriving aquaculture activities in India will majorly contribute towards the regional market expansion over the coming years. Furthermore, countries like China, Thailand, and India are the leading exporters and manufacturers of shrimps.
Key players profiled in the report include
- Surapon Foods Public Company Limited
- Trident Seafood’s Corporation
- Nippon Suisan Kaishaa
- Charoen Pokphand Food PCL.
The global shrimp market is segmented as follows:
By Species
- Penaeus Vannamei
- Penaeus Monodon
- Macrobrachium Rosenbergii
- Others
By Shrimp Size
- Size <_1_br />12.2 Size 21-25
- Size 26-30
- Size 31-40
- Size 41-50
- Size 51-60
- Size 61-70
- Size >70
By Distribution Channel
- Hypermarkets and Supermarkets
- Convenience Stores
- Hotels and Restaurants
- Online Sales
- Others
By Region
- North America
- The U.S.
- Canada
- Mexico
- Europe
- France
- The UK
- Spain
- Germany
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of Asia Pacific
- The Middle East & Africa
- Saudi Arabia
- UAE
- Egypt
- Kuwait
- South Africa
- Rest of the Middle East & Africa
- Latin America
- Brazil
- Argentina
- Rest of Latin America
Table Of Content
Methodology
FrequentlyAsked Questions
Global shrimp refers to worldwide shrimp farming and trade. It includes production, processing, and international distribution
The global Global Shrimp market is expected to be driven by the rising seafood consumption and demand for high-protein diets. Expansion of aquaculture and global trade supports market growth.
According to study, the global Global Shrimp market size was worth around USD 2.64 Billion in 2023 and is predicted to grow to around USD 5.92 Billion By 2032.
The global Global Shrimp market is expected to grow at a Compound Annual Growth Rate (CAGR) of around CAGR 9.4% during the forecast period from 2024-2032.
The global Global Shrimp industry is projected to be challenged by Challenges include disease outbreaks, feed cost volatility, and sustainability concerns.
The Opportunities include rising seafood consumption, aquaculture technology advances, export demand, and value-added shrimp products will offer significant growth opportunities in the Global Shrimp market.
Sustainable aquaculture practices; disease-resistant breeding and feed innovation; traceability and value-added processing are the emerging trends and innovations impacting the Global Shrimp market.
The global Global Shrimp market is expected to be led by APAC during the forecast period.
Some of the prominent players operating in the global Global Shrimp market are; Surapon Foods Public Company Limited, Trident Seafood’s Corporation, Nippon Suisan Kaisha, Ltd., and Charoen Pokphand Food PCL and others.
The report explores crucial aspects of the Global Shrimp market, including a detailed discussion of existing growth factors and restraints, while also browsing future growth opportunities and challenges that impact the market.
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