Frozen Shrimp Market By Application, By Source, By Distribution Channel : Global Opportunity Analysis and Industry Forecast, 2023-2032

Description

List of Tables

The global frozen shrimp market was valued at $9.9 billion in 2022, and is projected to reach $21.9 billion by 2032, growing at a CAGR of 8.3% from 2023 to 2032. Frozen shrimp is a type of seafood that is harvested, processed, and then frozen to keep its freshness and flavor intact. The shrimp is quickly frozen at extremely low temperatures, often below -18°C (-0.4°F), to prevent bacterial growth and maintain its quality. This preservation technique enables consumers to store the shrimp for longer periods without affecting its taste or texture. Frozen shrimp is a worldwide popular seafood choice as it can be used in various cuisines, is readily available throughout the year, and retains its nutritional value. Furthermore, frozen shrimp undergoes strict quality control measures to ensure it is safe to eat.

The demand for frozen shrimp is on the rise due to the growing popularity of international cuisines. Shrimp is a versatile ingredient widely used in various global dishes, and as consumers become more adventurous in their culinary preferences, they are increasingly exploring cuisines from different parts of the world such as Thai, Chinese, Mexican, and Italian, among others. Shrimp is a key ingredient in many international dishes such as pad thai, shrimp tacos, shrimp fried rice, and shrimp scampi, which is driving the demand for frozen shrimp.

Furthermore, the convenience and availability of frozen shrimp make it easier for consumers to recreate international dishes at home. Frozen shrimp is readily accessible in supermarkets and grocery stores, enabling consumers to experiment with different recipes and flavors from around the world without the hassle of sourcing fresh seafood. As a result, the growing popularity of international cuisines is contributing to the surge in market demand for frozen shrimp as consumers seek to diversify their culinary experiences and enjoy the flavors of global cuisine in the comfort of their own homes.

The demand for frozen shrimp in the market is increasing due to the innovation in value-added shrimp products. These products offer consumers a wide range of convenient and attractive options by adding value to the shrimp. Value-added shrimp products include shrimp-based snacks, appetizers, ready-to-eat meals, and pre-marinated, seasoned, or pre-cooked shrimp. These products cater to busy lifestyles by providing quick and easy meal solutions without compromising on taste or quality. There is a diverse range of flavors and preparations available, such as garlic butter, coconut curry, or lemon herb, which cater to a broad audience seeking convenience and variety in their seafood choices.

Moreover, innovation in value-added shrimp products enhances the overall consumer experience by offering unique and novel culinary options. By introducing innovative packaging designs and flavor profiles, manufacturers can differentiate their products in the market and capture consumers' attention. Value-added shrimp products tap into emerging food trends, such as snacking and on-the-go eating, further expanding the market reach, and driving increased demand for frozen shrimp. As a result, the success of innovation in value-added shrimp products is fueling the growth of the frozen shrimp market by providing consumers with convenient, flavorful, and satisfying seafood options.

However, concerns about quality and taste compared to fresh shrimp act as a restraint on the market demand for frozen shrimp. Some consumers perceive frozen shrimp to be inferior in taste and texture compared to fresh shrimp. This perception stems from the belief that freezing can alter the natural flavor and texture of the shrimp, resulting in a less satisfying culinary experience. Additionally, there is a concern that frozen shrimp may not maintain its freshness and quality during the freezing and thawing process, leading to a loss of flavor and juiciness.

Furthermore, the availability of fresh shrimp in coastal regions or seafood markets may deter consumers from opting for frozen shrimp. Consumers often associate fresh seafood with higher quality and superior taste, leading them to prefer fresh shrimp over frozen alternatives. Despite advancements in freezing and packaging technologies to preserve the quality of frozen shrimp, these concerns persist among certain segments of consumers, limiting the market demand for frozen shrimp. As a result, addressing these perceptions and educating consumers about the benefits and quality of frozen shrimp is essential to overcome this restraint and drive market growth.

The frozen shrimp market is segmented into application, source, distribution channel, and region. By application, the market is classified into food, pharmaceuticals, cosmetics, industrial, and biotechnology. By source, the market is divided into organic and conventional. As per distribution channel, the market is segregated into supermarkets-hypermarkets, departmental stores, B2B, and online sales channel. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, LA, and MEA.

Major players such as SeaPak Shrimp Company, Toyo Suisan Kaisha, High Liner Foods, and Aqua Star Corp. have adopted product approval, partnership, agreement, and acquisition as key developmental strategies to improve the product portfolio of the frozen shrimp market.

Key Benefits for Stakeholders

This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the frozen shrimp market analysis from 2022 to 2032 to identify the prevailing frozen shrimp market opportunities.
The market research is offered along with information related to key drivers, restraints, and opportunities.
Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
In-depth analysis of the frozen shrimp market segmentation assists to determine the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the global market.
Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
The report includes the analysis of the regional as well as global frozen shrimp market trends, key players, market segments, application areas, and market growth strategies.

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Market share analysis of players by products/segments
Additional company profiles with specific to client's interest
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Average Selling Price Analysis / Price Point Analysis
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Criss-cross segment analysis- market size and forecast
Historic market data
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Key Market Segments

By Application

Food
Pharmaceuticals
Cosmetics
Industrial
Biotechnology

By Source

Conventional
Organic

By Distribution Channel

Supermarkets/Hypermarkets
Departmental Stores
B2B
Online Sales Channel

By Region

North America
- U.S.
- Canada
- Mexico
Europe
- Germany
- Italy
- UK
- France
- Spain
- Rest of Europe
Asia-Pacific
- China
- India
- Japan
- Australia
- South Korea
- Rest of Asia-Pacific
Latin America
- Brazil
- Argentina
- Rest of Latin America
Middle East and North Africa
- South Africa
- Saudi Arabia
- Rest Of Mea

Key Market Players:

SeaPak Shrimp Company
Toyo Suisan Kaisha
High Liner Foods
Aqua Star Corp.
Clearwater Seafood
Surapon Foods
Aqua Chile
Nordic Seafood A/S
Seafood Co.
Thai Union Group

Product Code: A269207

CHAPTER 1: INTRODUCTION

1.1. Report description
1.2. Key market segments
1.3. Key benefits to the stakeholders
1.4. Research methodology
- 1.4.1. Primary research
- 1.4.2. Secondary research
- 1.4.3. Analyst tools and models

CHAPTER 2: EXECUTIVE SUMMARY

2.1. CXO perspective

CHAPTER 3: MARKET OVERVIEW

3.1. Market definition and scope
3.2. Key findings
- 3.2.1. Top impacting factors
- 3.2.2. Top investment pockets
3.3. Porter's five forces analysis
3.4. Market dynamics
- 3.4.1. Drivers
- 3.4.2. Restraints
- 3.4.3. Opportunities
3.5. Market Share Analysis
3.6. Brand Share Analysis
3.7. Value Chain Analysis
3.8. Key Players Details

CHAPTER 4: FROZEN SHRIMP MARKET, BY APPLICATION

4.1. Overview
- 4.1.1. Market size and forecast
4.2. Food
- 4.2.1. Key market trends, growth factors and opportunities
- 4.2.2. Market size and forecast, by region
- 4.2.3. Market share analysis by country
4.3. Pharmaceuticals
- 4.3.1. Key market trends, growth factors and opportunities
- 4.3.2. Market size and forecast, by region
- 4.3.3. Market share analysis by country
4.4. Cosmetics
- 4.4.1. Key market trends, growth factors and opportunities
- 4.4.2. Market size and forecast, by region
- 4.4.3. Market share analysis by country
4.5. Industrial
- 4.5.1. Key market trends, growth factors and opportunities
- 4.5.2. Market size and forecast, by region
- 4.5.3. Market share analysis by country
4.6. Biotechnology
- 4.6.1. Key market trends, growth factors and opportunities
- 4.6.2. Market size and forecast, by region
- 4.6.3. Market share analysis by country

CHAPTER 5: FROZEN SHRIMP MARKET, BY SOURCE

5.1. Overview
- 5.1.1. Market size and forecast
5.2. Conventional
- 5.2.1. Key market trends, growth factors and opportunities
- 5.2.2. Market size and forecast, by region
- 5.2.3. Market share analysis by country
5.3. Organic
- 5.3.1. Key market trends, growth factors and opportunities
- 5.3.2. Market size and forecast, by region
- 5.3.3. Market share analysis by country

CHAPTER 6: FROZEN SHRIMP MARKET, BY DISTRIBUTION CHANNEL

6.1. Overview
- 6.1.1. Market size and forecast
6.2. Supermarkets/Hypermarkets
- 6.2.1. Key market trends, growth factors and opportunities
- 6.2.2. Market size and forecast, by region
- 6.2.3. Market share analysis by country
6.3. Departmental Stores
- 6.3.1. Key market trends, growth factors and opportunities
- 6.3.2. Market size and forecast, by region
- 6.3.3. Market share analysis by country
6.4. B2B
- 6.4.1. Key market trends, growth factors and opportunities
- 6.4.2. Market size and forecast, by region
- 6.4.3. Market share analysis by country
6.5. Online Sales Channel
- 6.5.1. Key market trends, growth factors and opportunities
- 6.5.2. Market size and forecast, by region
- 6.5.3. Market share analysis by country

CHAPTER 7: FROZEN SHRIMP MARKET, BY REGION

7.1. Overview
- 7.1.1. Market size and forecast By Region
7.2. North America
- 7.2.1. Key market trends, growth factors and opportunities
- 7.2.2. Market size and forecast, by Application
- 7.2.3. Market size and forecast, by Source
- 7.2.4. Market size and forecast, by Distribution Channel
- 7.2.5. Market size and forecast, by country
  - 7.2.5.1. U.S.
  - 7.2.5.1.1. Market size and forecast, by Application
  - 7.2.5.1.2. Market size and forecast, by Source
  - 7.2.5.1.3. Market size and forecast, by Distribution Channel
  - 7.2.5.2. Canada
  - 7.2.5.2.1. Market size and forecast, by Application
  - 7.2.5.2.2. Market size and forecast, by Source
  - 7.2.5.2.3. Market size and forecast, by Distribution Channel
  - 7.2.5.3. Mexico
  - 7.2.5.3.1. Market size and forecast, by Application
  - 7.2.5.3.2. Market size and forecast, by Source
  - 7.2.5.3.3. Market size and forecast, by Distribution Channel
7.3. Europe
- 7.3.1. Key market trends, growth factors and opportunities
- 7.3.2. Market size and forecast, by Application
- 7.3.3. Market size and forecast, by Source
- 7.3.4. Market size and forecast, by Distribution Channel
- 7.3.5. Market size and forecast, by country
  - 7.3.5.1. Germany
  - 7.3.5.1.1. Market size and forecast, by Application
  - 7.3.5.1.2. Market size and forecast, by Source
  - 7.3.5.1.3. Market size and forecast, by Distribution Channel
  - 7.3.5.2. Italy
  - 7.3.5.2.1. Market size and forecast, by Application
  - 7.3.5.2.2. Market size and forecast, by Source
  - 7.3.5.2.3. Market size and forecast, by Distribution Channel
  - 7.3.5.3. UK
  - 7.3.5.3.1. Market size and forecast, by Application
  - 7.3.5.3.2. Market size and forecast, by Source
  - 7.3.5.3.3. Market size and forecast, by Distribution Channel
  - 7.3.5.4. France
  - 7.3.5.4.1. Market size and forecast, by Application
  - 7.3.5.4.2. Market size and forecast, by Source
  - 7.3.5.4.3. Market size and forecast, by Distribution Channel
  - 7.3.5.5. Spain
  - 7.3.5.5.1. Market size and forecast, by Application
  - 7.3.5.5.2. Market size and forecast, by Source
  - 7.3.5.5.3. Market size and forecast, by Distribution Channel
  - 7.3.5.6. Rest of Europe
  - 7.3.5.6.1. Market size and forecast, by Application
  - 7.3.5.6.2. Market size and forecast, by Source
  - 7.3.5.6.3. Market size and forecast, by Distribution Channel
7.4. Asia-Pacific
- 7.4.1. Key market trends, growth factors and opportunities
- 7.4.2. Market size and forecast, by Application
- 7.4.3. Market size and forecast, by Source
- 7.4.4. Market size and forecast, by Distribution Channel
- 7.4.5. Market size and forecast, by country
  - 7.4.5.1. China
  - 7.4.5.1.1. Market size and forecast, by Application
  - 7.4.5.1.2. Market size and forecast, by Source
  - 7.4.5.1.3. Market size and forecast, by Distribution Channel
  - 7.4.5.2. India
  - 7.4.5.2.1. Market size and forecast, by Application
  - 7.4.5.2.2. Market size and forecast, by Source
  - 7.4.5.2.3. Market size and forecast, by Distribution Channel
  - 7.4.5.3. Japan
  - 7.4.5.3.1. Market size and forecast, by Application
  - 7.4.5.3.2. Market size and forecast, by Source
  - 7.4.5.3.3. Market size and forecast, by Distribution Channel
  - 7.4.5.4. Australia
  - 7.4.5.4.1. Market size and forecast, by Application
  - 7.4.5.4.2. Market size and forecast, by Source
  - 7.4.5.4.3. Market size and forecast, by Distribution Channel
  - 7.4.5.5. South Korea
  - 7.4.5.5.1. Market size and forecast, by Application
  - 7.4.5.5.2. Market size and forecast, by Source
  - 7.4.5.5.3. Market size and forecast, by Distribution Channel
  - 7.4.5.6. Rest of Asia-Pacific
  - 7.4.5.6.1. Market size and forecast, by Application
  - 7.4.5.6.2. Market size and forecast, by Source
  - 7.4.5.6.3. Market size and forecast, by Distribution Channel
7.5. Latin America
- 7.5.1. Key market trends, growth factors and opportunities
- 7.5.2. Market size and forecast, by Application
- 7.5.3. Market size and forecast, by Source
- 7.5.4. Market size and forecast, by Distribution Channel
- 7.5.5. Market size and forecast, by country
  - 7.5.5.1. Brazil
  - 7.5.5.1.1. Market size and forecast, by Application
  - 7.5.5.1.2. Market size and forecast, by Source
  - 7.5.5.1.3. Market size and forecast, by Distribution Channel
  - 7.5.5.2. Argentina
  - 7.5.5.2.1. Market size and forecast, by Application
  - 7.5.5.2.2. Market size and forecast, by Source
  - 7.5.5.2.3. Market size and forecast, by Distribution Channel
  - 7.5.5.3. Rest of Latin America
  - 7.5.5.3.1. Market size and forecast, by Application
  - 7.5.5.3.2. Market size and forecast, by Source
  - 7.5.5.3.3. Market size and forecast, by Distribution Channel
7.6. Middle East and North Africa
- 7.6.1. Key market trends, growth factors and opportunities
- 7.6.2. Market size and forecast, by Application
- 7.6.3. Market size and forecast, by Source
- 7.6.4. Market size and forecast, by Distribution Channel
- 7.6.5. Market size and forecast, by country
  - 7.6.5.1. South Africa
  - 7.6.5.1.1. Market size and forecast, by Application
  - 7.6.5.1.2. Market size and forecast, by Source
  - 7.6.5.1.3. Market size and forecast, by Distribution Channel
  - 7.6.5.2. Saudi Arabia
  - 7.6.5.2.1. Market size and forecast, by Application
  - 7.6.5.2.2. Market size and forecast, by Source
  - 7.6.5.2.3. Market size and forecast, by Distribution Channel
  - 7.6.5.3. Rest Of Mea
  - 7.6.5.3.1. Market size and forecast, by Application
  - 7.6.5.3.2. Market size and forecast, by Source
  - 7.6.5.3.3. Market size and forecast, by Distribution Channel

CHAPTER 8: COMPETITIVE LANDSCAPE

8.1. Introduction
8.2. Top winning strategies
8.3. Product mapping of top 10 player
8.4. Competitive dashboard
8.5. Competitive heatmap
8.6. Top player positioning, 2022

CHAPTER 9: COMPANY PROFILES

9.1. SeaPak Shrimp Company
- 9.1.1. Company overview
- 9.1.2. Key executives
- 9.1.3. Company snapshot
- 9.1.4. Operating business segments
- 9.1.5. Product portfolio
- 9.1.6. Business performance
- 9.1.7. Key strategic moves and developments
9.2. Toyo Suisan Kaisha
- 9.2.1. Company overview
- 9.2.2. Key executives
- 9.2.3. Company snapshot
- 9.2.4. Operating business segments
- 9.2.5. Product portfolio
- 9.2.6. Business performance
- 9.2.7. Key strategic moves and developments
9.3. High Liner Foods
- 9.3.1. Company overview
- 9.3.2. Key executives
- 9.3.3. Company snapshot
- 9.3.4. Operating business segments
- 9.3.5. Product portfolio
- 9.3.6. Business performance
- 9.3.7. Key strategic moves and developments
9.4. Aqua Star Corp.
- 9.4.1. Company overview
- 9.4.2. Key executives
- 9.4.3. Company snapshot
- 9.4.4. Operating business segments
- 9.4.5. Product portfolio
- 9.4.6. Business performance
- 9.4.7. Key strategic moves and developments
9.5. Clearwater Seafood
- 9.5.1. Company overview
- 9.5.2. Key executives
- 9.5.3. Company snapshot
- 9.5.4. Operating business segments
- 9.5.5. Product portfolio
- 9.5.6. Business performance
- 9.5.7. Key strategic moves and developments
9.6. Surapon Foods
- 9.6.1. Company overview
- 9.6.2. Key executives
- 9.6.3. Company snapshot
- 9.6.4. Operating business segments
- 9.6.5. Product portfolio
- 9.6.6. Business performance
- 9.6.7. Key strategic moves and developments
9.7. Aqua Chile
- 9.7.1. Company overview
- 9.7.2. Key executives
- 9.7.3. Company snapshot
- 9.7.4. Operating business segments
- 9.7.5. Product portfolio
- 9.7.6. Business performance
- 9.7.7. Key strategic moves and developments
9.8. Nordic Seafood A/S
- 9.8.1. Company overview
- 9.8.2. Key executives
- 9.8.3. Company snapshot
- 9.8.4. Operating business segments
- 9.8.5. Product portfolio
- 9.8.6. Business performance
- 9.8.7. Key strategic moves and developments
9.9. Seafood Co.
- 9.9.1. Company overview
- 9.9.2. Key executives
- 9.9.3. Company snapshot
- 9.9.4. Operating business segments
- 9.9.5. Product portfolio
- 9.9.6. Business performance
- 9.9.7. Key strategic moves and developments
9.10. Thai Union Group
- 9.10.1. Company overview
- 9.10.2. Key executives
- 9.10.3. Company snapshot
- 9.10.4. Operating business segments
- 9.10.5. Product portfolio
- 9.10.6. Business performance
- 9.10.7. Key strategic moves and developments