Global Shrimp Market Size Was Valued at USD 35.74 Billion in 2021, and is Projected to Reach USD 61.25 Billion by 2028, Growing at A CAGR of 8 % From 2022 to 2028.
Shrimp, commonly known as Caridea and Dendrobranchiata, are decapod crustaceans that have elongated bodies and move by swimming. Caridea, smaller species within each group or only marine species might be used as more specific criteria. In a broader sense, shrimp and prawn are both stalk-eyed swimming crustaceans with long, narrow muscular tails (abdomens), long whiskers (antennae), and slender legs. Shrimps play a crucial role in the marine food web. Larger shrimp species are being sought by commercial fisheries for human consumption. Some shrimp species are farmed in aquaculture in tropical climates. They eat a vast variety of plant and animal species, making them omnivores. They are natural prey for a variety of predators due to their small size and abundance. The shrimp industry is propelled by a variety of causes, including increased demand due to the expanding number of health advantages provided by shrimps, greater adoption of new environmentally friendly production techniques, contract farming, and government regulations. India's extensive coastline, which stretches over 8,000 kilometers across the Southern, Eastern, and Western hemispheres, contributes to the country's position as a prominent player in the worldwide aquaculture industry (fish, shrimp, and related segment). After China, India is the world's second-biggest producer of aquaculture (mostly shrimp production) and the world's largest exporter of shrimp.
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Market Size, Share, Growth, Trends, Statistics And Regional Forecast To 2028
Larger shrimp species are sought by commercial fisheries for human consumption. Some shrimp species are raised in aquaculture in tropical areas. They are omnivorous animals, which consume a wide range of plant and animal species. Conversely, they are natural prey for a variety of predators due to their small size and abundance. The market is segmented into type, source, form, end use, distribution channel, and region. On the basis of type, the market is categorized into pink, brown, white, and others. Depending on source, it is segregated into cold water and hot water. By form, it is bifurcated into frozen and canned. As per end use, it is divided into residential and commercial. According to distribution channel, it is fragmented into hypermarkets & supermarkets, convenience stores, specialty stores, and online sales channel. Region wise, the shrimp market analysis is done across North America, Europe, Asia-Pacific, and LAMEA.
The Major Players In The Shrimp Market Include:
Charoen Pokphand Food PCL,The Clover Leaf Seafoods Family,Nippon Suisan Kaisha Ltd.,Marine Harvest ASA,Gulf Shrimp Company,Thai Union Frozen Products PLC,Baton Rouge Shrimp Company Inc.,Pescanova S.A,Galveston Shrimp Company,Labrador Fishermen's Union Shrim,Omarsa S.A,MSeafood Corp,Ristic GmbH,Vinnbio India Pvt. Ltd,Seajoy Group,Dom International Limited,Carribbean Shrimp Company Limited,Artisanfish LLC,Ananda Group,Orchid Marine and other major players.
Market has segmented the global Shrimp market on the basis of type, application, and region:
The Shrimpmarket is segmented by type and application. Growth between segments over the period 2022-2028 provides accurate calculations and forecasts of revenue by type and application in terms of volume and value. This analysis can help you expand your business by targeting eligible niches.
Gulf Shrimps,Farmed White leg Shrimps,Banded Coral Shrimps,Royal Red Shrimp
By Regional Outlook (Revenue, USD Billion, 2017 – 2028)
- North America (U.S., Canada, Mexico)
- Europe (Germany, U.K., France, Italy, Russia, Spain, Rest of Europe)
- Asia-Pacific (China, India, Japan, Southeast Asia, Rest of APAC)
- Middle East & Africa (GCC Countries, South Africa, Rest of MEA)
- South America (Brazil, Argentina, Rest of South America)
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Top Impacting Factors
- The Shrimp market is expected to grow at a moderate rate, owing to the numerous health benefits provided by grapefruit oil.
- Shrimp has natural disinfectant characteristics in addition to remarkable antimicrobial and antiviral properties, making it a viable ingredient for the development of various antibacterial and disinfection agents.
- Furthermore, Shrimp may be used to effectively treat a variety of skin infections, which is expected to continue to drive demand for Shrimp in the dermatology market.
- Leading Shrimp manufacturers competing in the worldwide Shrimp market landscape are grappling with this demand-supply imbalance, prompting new product development.
Key Benefits for Industry Participants & Stakeholders:
Industry drivers, restraints, and opportunities covered in the study
Neutral perspective on the market performance
Recent industry trends and developments
Competitive landscape & strategies of key players
Potential & niche segments and regions exhibiting promising growth covered
Historical, current, and projected market size, in terms of value
In-depth analysis of the Shrimp Market
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