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According to the latest report by IMARC Group, titled“ Shrimp Market : Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2032, ” offers a comprehensive analysis of the industry, which comprises insights on the global shrimp market. The report also includes competitor and regional analysis, and contemporary advancements in the market.
How Big is the Global Shrimp Market:
The
global shrimp market size reached US$ 69.0 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 100.2 Billion by 2032, exhibiting a growth rate (CAGR) of 4.1% during 2024-2032.
Market Overview:
A shrimp is a small crustacean found in freshwater and saltwater environments worldwide. Known for their delicate flavor and tender texture, shrimp are a popular seafood delicacy enjoyed in various cuisines around the globe. They come in a range of sizes and colors, from tiny pink shrimp to larger tiger shrimp with distinctive stripes. Shrimp are prized for their versatility in cooking, as they can be grilled, boiled, sautéed, or fried, and incorporated into dishes such as shrimp scampi, shrimp tacos, and shrimp stir-fry. Beyond their culinary appeal, shrimp also play a vital ecological role as part of marine food webs, serving as prey for larger predators and helping to maintain the balance of aquatic ecosystems.
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Global Shrimp Market Trends:
The global market is majorly driven by changing dietary preferences and an increasing focus on healthy eating habits. Besides, globalization and advancements in transportation and logistics have made it easier to access shrimp from various regions, contributing to the expansion of the market. This has led to increased consumption in areas where shrimp was traditionally less common. Moreover, rising disposable incomes and a growing middle class in emerging economies have boosted demand for premium seafood products like shrimp. As people become more affluent, they are willing to spend more on high-quality food items, including shrimp.
Additionally, technological advancements in aquaculture techniques have led to increased shrimp production, helping to meet the growing demand for this popular seafood. Improved farming practices have enhanced yields, reduced environmental impact, and ensured a more consistent supply of shrimp year-round. Furthermore, shifting consumer preferences towards sustainably sourced and responsibly harvested seafood have driven changes in the shrimp industry. Certifications such as Aquaculture Stewardship Council (ASC) and Best Aquaculture Practices (BAP) have become increasingly important, influencing purchasing decisions and driving market growth.
By IMARC group, Some of the Top Shrimp Companies Operating in the Shrimp Industry are Given Below:
Aqua Star Corp. Avanti Feeds Ltd. Clearwater Seafoods Inc. High Liner Foods Inc. Mazzetta Company LLC Nordic Seafoods A/S Surapon Foods Thai Union Group The Waterbase Ltd. Wild Oceans Pvt. Ltd.
Key Market Segmentation:
Breakup by Species:
Penaeus vannamei Penaeus monodon Macrobrachium rosenbergii Others
Breakup by Shrimp Size:
<21 21-25 26-30 31-40 41-50 51-60 61-70 >70
Breakup by Distribution Channel:
Hypermarkets and Supermarkets Convenience Stores Hotels and Restaurants Online Sales Others
Breakup by Region:
Major Producing Regions:
China India Indonesia Vietnam Thailand Ecuador Others
Major Consuming Regions:
United States China Europe Japan Indonesia Others
Key highlights of the Report:
Market Performance (2018-2023) Market Outlook ( 2024-2032 ) COVID-19 Impact on the Market Porter's Five Forces Analysis Historical, Current and Future Market Trends Market Drivers and Success Factors SWOT Analysis Structure of the Market Value Chain Analysis Comprehensive Mapping of the Competitive Landscape
Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
About Us
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC's information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company's expertise.
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