Shrimp Market by Type, Form, Distribution Channel, End-Use

List of Tables

The Shrimp Market was valued at USD 43.76 billion in 2023, expected to reach USD 46.96 billion in 2024, and is projected to grow at a CAGR of 7.77%, to USD 73.90 billion by 2030.

The shrimp market, a significant segment within the global seafood industry, encompasses the cultivation, harvesting, processing, and distribution of various shrimp species. Shrimp are vital due to their rich nutritional profile, global culinary appeal, and economic significance as a protein source, especially in countries reliant on fishing and aquaculture. Applications include direct consumption, food service, and processed products, with end-users spanning households, restaurants, and food processing industries. Key drivers fueling market growth include rising demand for protein-rich foods, expanding aquaculture practices, and technological advancements in shrimp farming that enhance productivity and sustainability. The prevalence of health-conscious consumers has bolstered demand for shrimp as a low-fat, high-protein alternative to traditional meats. Opportunities abound in adopting sustainable practices and innovative farming technologies like biofloc and indoor recirculating systems, addressing environmental concerns while boosting production efficiency. Challenges such as disease outbreaks, stringent regulatory frameworks, and environmental concerns regarding overfishing and habitat destruction pose significant barriers. Market players should focus on sustainable sourcing, compliance with regulations, and adaptation to climate change impacts. Innovations in genetic improvements and feed technologies can further drive market growth. The potential resides in diversifying shrimp species in aquaculture and investing in research on disease-resistant variants, optimizing yields, and reducing reliance on wild stocks. Emerging markets in Asia-Pacific present lucrative opportunities due to increasing consumption and improved aquaculture infrastructure. Collaboration between industry stakeholders to enhance traceability and compliance can improve market competitiveness and consumer trust. Navigating these dynamics requires a strategic approach, emphasizing sustainable practices while leveraging technological advancements to capitalize on burgeoning demand. The shrimp market is multidimensional, reflecting broader trends demanding agility, innovation, and commitment to sustainability as fundamental tenets for future growth and resilience.

KEY MARKET STATISTICS
Base Year [2023]	USD 43.76 billion
Estimated Year [2024]	USD 46.96 billion
Forecast Year [2030]	USD 73.90 billion
CAGR (%)	7.77%

Market Dynamics: Unveiling Key Market Insights in the Rapidly Evolving Shrimp Market

The Shrimp Market is undergoing transformative changes driven by a dynamic interplay of supply and demand factors. Understanding these evolving market dynamics prepares business organizations to make informed investment decisions, refine strategic decisions, and seize new opportunities. By gaining a comprehensive view of these trends, business organizations can mitigate various risks across political, geographic, technical, social, and economic domains while also gaining a clearer understanding of consumer behavior and its impact on manufacturing costs and purchasing trends.

Market Drivers
- Health benefits of shrimp and consumption of fresh & frozen shrimp
- Growth of shrimp farming and trade activities worldwide
- Rise of foodservice sector based on seafood cuisines
Market Restraints
- Incidences of disease outbreaks caused by shrimp and cases of product recalls
Market Opportunities
- New shrimp-based product innovation with a focus on quality certification
- Advancements in shrimp farming technologies and sustainable production
Market Challenges
- Environmental impact of shrimp farming and reduced availability of wild shrimp stock

Porter's Five Forces: A Strategic Tool for Navigating the Shrimp Market

Porter's five forces framework is a critical tool for understanding the competitive landscape of the Shrimp Market. It offers business organizations with a clear methodology for evaluating their competitive positioning and exploring strategic opportunities. This framework helps businesses assess the power dynamics within the market and determine the profitability of new ventures. With these insights, business organizations can leverage their strengths, address weaknesses, and avoid potential challenges, ensuring a more resilient market positioning.

PESTLE Analysis: Navigating External Influences in the Shrimp Market

External macro-environmental factors play a pivotal role in shaping the performance dynamics of the Shrimp Market. Political, Economic, Social, Technological, Legal, and Environmental factors analysis provides the necessary information to navigate these influences. By examining PESTLE factors, businesses can better understand potential risks and opportunities. This analysis enables business organizations to anticipate changes in regulations, consumer preferences, and economic trends, ensuring they are prepared to make proactive, forward-thinking decisions.

Market Share Analysis: Understanding the Competitive Landscape in the Shrimp Market

A detailed market share analysis in the Shrimp Market provides a comprehensive assessment of vendors' performance. Companies can identify their competitive positioning by comparing key metrics, including revenue, customer base, and growth rates. This analysis highlights market concentration, fragmentation, and trends in consolidation, offering vendors the insights required to make strategic decisions that enhance their position in an increasingly competitive landscape.

FPNV Positioning Matrix: Evaluating Vendors' Performance in the Shrimp Market

The Forefront, Pathfinder, Niche, Vital (FPNV) Positioning Matrix is a critical tool for evaluating vendors within the Shrimp Market. This matrix enables business organizations to make well-informed decisions that align with their goals by assessing vendors based on their business strategy and product satisfaction. The four quadrants provide a clear and precise segmentation of vendors, helping users identify the right partners and solutions that best fit their strategic objectives.

Strategy Analysis & Recommendation: Charting a Path to Success in the Shrimp Market

A strategic analysis of the Shrimp Market is essential for businesses looking to strengthen their global market presence. By reviewing key resources, capabilities, and performance indicators, business organizations can identify growth opportunities and work toward improvement. This approach helps businesses navigate challenges in the competitive landscape and ensures they are well-positioned to capitalize on newer opportunities and drive long-term success.

Key Company Profiles

The report delves into recent significant developments in the Shrimp Market, highlighting leading vendors and their innovative profiles. These include ACI Limited, All-Fish Handelsgesellschaft mbH, American Penaeid, Inc., AN PHAT CA MAU SEAFOOD CO., LTD, Apex Frozen Foods Ltd., Aqua Geno Exim, AU VUNG SEAFOOD, Camimex Group, Charoen Pokphand Foods PCL, Devi Seafoods, ESCAL S.A., Grand Ocean International Trading Ltd., Heiploeg Group, High Liner Foods, Inc., Huy Hoang Global Food Co., Ltd,, Latimers Seafood Ltd., Mazzetta Company, LLC, Minh Phu Seafood Corporation, Nippon Suisan Kaisha, Ltd., Nissui Corporation, Pinetree Vietnam Co., Ltd, PT Central Proteina Prima Tbk, Sea Port Products, Seaprimexco Vietnam, Surapon Foods Public Company Limited, Tizara Group, Vannamei White Shrimp, Viet Asia Foods, and Vietnam Fish One Co., Ltd..

Market Segmentation & Coverage

This research report categorizes the Shrimp Market to forecast the revenues and analyze trends in each of the following sub-markets:

Based on Type, market is studied across Brown Shrimp, Pink Shrimp, Rock Shrimp, Royal Red Shrimp, Tiger Shrimp, and White Shrimp. The Tiger Shrimp is further studied across Black, Blue, Red, and Wild Type.
Based on Form, market is studied across Canned, Fresh, and Frozen.
Based on Distribution Channel, market is studied across Convenience Stores, Hypermarkets & Supermarkets, Online Sales Channels, and Specialty Stores.
Based on End-Use, market is studied across Commercial and Residential.
Based on Region, market is studied across Americas, Asia-Pacific, and Europe, Middle East & Africa. The Americas is further studied across Argentina, Brazil, Canada, Mexico, and United States. The United States is further studied across California, Florida, Illinois, New York, Ohio, Pennsylvania, and Texas. The Asia-Pacific is further studied across Australia, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Taiwan, Thailand, and Vietnam. The Europe, Middle East & Africa is further studied across Denmark, Egypt, Finland, France, Germany, Israel, Italy, Netherlands, Nigeria, Norway, Poland, Qatar, Russia, Saudi Arabia, South Africa, Spain, Sweden, Switzerland, Turkey, United Arab Emirates, and United Kingdom.

The report offers a comprehensive analysis of the market, covering key focus areas:

1. Market Penetration: A detailed review of the current market environment, including extensive data from top industry players, evaluating their market reach and overall influence.

2. Market Development: Identifies growth opportunities in emerging markets and assesses expansion potential in established sectors, providing a strategic roadmap for future growth.

3. Market Diversification: Analyzes recent product launches, untapped geographic regions, major industry advancements, and strategic investments reshaping the market.

4. Competitive Assessment & Intelligence: Provides a thorough analysis of the competitive landscape, examining market share, business strategies, product portfolios, certifications, regulatory approvals, patent trends, and technological advancements of key players.

5. Product Development & Innovation: Highlights cutting-edge technologies, R&D activities, and product innovations expected to drive future market growth.

The report also answers critical questions to aid stakeholders in making informed decisions:

1. What is the current market size, and what is the forecasted growth?

2. Which products, segments, and regions offer the best investment opportunities?

3. What are the key technology trends and regulatory influences shaping the market?

4. How do leading vendors rank in terms of market share and competitive positioning?

5. What revenue sources and strategic opportunities drive vendors' market entry or exit strategies?

Product Code: MRR-957C47F92B31

1. Preface

1.1. Objectives of the Study
1.2. Market Segmentation & Coverage
1.3. Years Considered for the Study
1.4. Currency & Pricing
1.5. Language
1.6. Stakeholders

2. Research Methodology

2.1. Define: Research Objective
2.2. Determine: Research Design
2.3. Prepare: Research Instrument
2.4. Collect: Data Source
2.5. Analyze: Data Interpretation
2.6. Formulate: Data Verification
2.7. Publish: Research Report
2.8. Repeat: Report Update

3. Executive Summary

4. Market Overview

5. Market Insights

5.1. Market Dynamics
- 5.1.1. Drivers
  - 5.1.1.1. Health benefits of shrimp and consumption of fresh & frozen shrimp
  - 5.1.1.2. Growth of shrimp farming and trade activities worldwide
  - 5.1.1.3. Rise of foodservice sector based on seafood cuisines
- 5.1.2. Restraints
  - 5.1.2.1. Incidences of disease outbreaks caused by shrimp and cases of product recalls
- 5.1.3. Opportunities
  - 5.1.3.1. New shrimp-based product innovation with a focus on quality certification
  - 5.1.3.2. Advancements in shrimp farming technologies and sustainable production
- 5.1.4. Challenges
  - 5.1.4.1. Environmental impact of shrimp farming and reduced availability of wild shrimp stock
5.2. Market Segmentation Analysis
5.3. Porter's Five Forces Analysis
- 5.3.1. Threat of New Entrants
- 5.3.2. Threat of Substitutes
- 5.3.3. Bargaining Power of Customers
- 5.3.4. Bargaining Power of Suppliers
- 5.3.5. Industry Rivalry
5.4. PESTLE Analysis
- 5.4.1. Political
- 5.4.2. Economic
- 5.4.3. Social
- 5.4.4. Technological
- 5.4.5. Legal
- 5.4.6. Environmental

6. Shrimp Market, by Type

6.1. Introduction
6.2. Brown Shrimp
6.3. Pink Shrimp
6.4. Rock Shrimp
6.5. Royal Red Shrimp
6.6. Tiger Shrimp
- 6.6.1. Black
- 6.6.2. Blue
- 6.6.3. Red
- 6.6.4. Wild Type
6.7. White Shrimp

7. Shrimp Market, by Form

7.1. Introduction
7.2. Canned
7.3. Fresh
7.4. Frozen

8. Shrimp Market, by Distribution Channel

8.1. Introduction
8.2. Convenience Stores
8.3. Hypermarkets & Supermarkets
8.4. Online Sales Channels
8.5. Specialty Stores

9. Shrimp Market, by End-Use

9.1. Introduction
9.2. Commercial
9.3. Residential

10. Americas Shrimp Market

10.1. Introduction
10.2. Argentina
10.3. Brazil
10.4. Canada
10.5. Mexico
10.6. United States

11. Asia-Pacific Shrimp Market

11.1. Introduction
11.2. Australia
11.3. China
11.4. India
11.5. Indonesia
11.6. Japan
11.7. Malaysia
11.8. Philippines
11.9. Singapore
11.10. South Korea
11.11. Taiwan
11.12. Thailand
11.13. Vietnam

12. Europe, Middle East & Africa Shrimp Market

12.1. Introduction
12.2. Denmark
12.3. Egypt
12.4. Finland
12.5. France
12.6. Germany
12.7. Israel
12.8. Italy
12.9. Netherlands
12.10. Nigeria
12.11. Norway
12.12. Poland
12.13. Qatar
12.14. Russia
12.15. Saudi Arabia
12.16. South Africa
12.17. Spain
12.18. Sweden
12.19. Switzerland
12.20. Turkey
12.21. United Arab Emirates
12.22. United Kingdom

13. Competitive Landscape

13.1. Market Share Analysis, 2023
13.2. FPNV Positioning Matrix, 2023
13.3. Competitive Scenario Analysis
- 13.3.1. Vitapro's USD 80 million Ecuador shrimp feed plant on track for early 2024 launch
- 13.3.2. NaturalShrimp, Inc. Signs Technology Licensing Agreement with Niterra Co., Ltd.
- 13.3.3. Aquafeed partnership to supply more sustainable shrimp to European supermarkets
13.4. Strategy Analysis & Recommendation

Companies Mentioned

1. ACI Limited
2. All-Fish Handelsgesellschaft mbH
3. American Penaeid, Inc.
4. AN PHAT CA MAU SEAFOOD CO., LTD
5. Apex Frozen Foods Ltd.
6. Aqua Geno Exim
7. AU VUNG SEAFOOD
8. Camimex Group
9. Charoen Pokphand Foods PCL
10. Devi Seafoods
11. ESCAL S.A.
12. Grand Ocean International Trading Ltd.
13. Heiploeg Group
14. High Liner Foods, Inc.
15. Huy Hoang Global Food Co., Ltd,
16. Latimers Seafood Ltd.
17. Mazzetta Company, LLC
18. Minh Phu Seafood Corporation
19. Nippon Suisan Kaisha, Ltd.
20. Nissui Corporation
21. Pinetree Vietnam Co., Ltd
22. PT Central Proteina Prima Tbk
23. Sea Port Products
24. Seaprimexco Vietnam
25. Surapon Foods Public Company Limited
26. Tizara Group
27. Vannamei White Shrimp
28. Viet Asia Foods
29. Vietnam Fish One Co., Ltd.