Shrimp Market Size, Share, and Growth Analysis, By Type (Pink, Brown), By Species (L. vannamei, Trachipenaeus curvirostris), By Habitat Type, By Source, By Form, By End Use, By Distribution Channel, By Region - Industry Forecast 2025-2032

Shrimp Market size was valued at USD 75.3 billion in 2023 and is poised to grow from USD 79.59 billion in 2024 to USD 124.01 billion by 2032, growing at a CAGR of 5.7% during the forecast period (2025-2032).

The global shrimp market is experiencing significant shifts driven by changing consumer preferences and heightened demand for seafood, spurred by a growing trend towards health-conscious eating. Shrimp's versatility and appeal across various cuisines globally have solidified its position as a favored ingredient, promoting increased seafood consumption. Furthermore, health-oriented consumers are drawn to shrimp due to its low-calorie, high-protein benefits. Certifications such as the Aquaculture Stewardship Council (ASC) and Best Aquaculture Practices (BAP) are essential in promoting sustainable shrimp farming. However, industry challenges such as disease outbreaks highlight the urgent need for responsible farming practices to maintain production sustainability. This evolving landscape underscores the importance of aligning offerings with consumer health trends and sustainable practices.

Top-down and bottom-up approaches were used to estimate and validate the size of the Shrimp market and to estimate the size of various other dependent submarkets. The research methodology used to estimate the market size includes the following details: The key players in the market were identified through secondary research, and their market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.

Shrimp Market Segments Analysis

Global Shrimp Market is segmented by Type, Species, Habitat Type, Source, Form, End Use, Distribution Channel and region. Based on Type, the market is segmented into Pink, Brown, White and Others. Based on Species, the market is segmented into L. vannamei, Trachipenaeus curvirostris, Pleoticus muelleri, P. monodon, Acetes japonicus, Pandalus borealis, P. chinensis and Others. Based on Habitat Type, the market is segmented into Wild andaquaculture. Based on Source, the market is segmented into Cold Water and Hot Water. Based on Form, the market is segmented into Frozen and Canned. Based on End Use, the market is segmented into Residential and Commercial. Based on Distribution Channel, the market is segmented into Hypermarkets & Supermarkets, Convenience Stores, Specialty Stores and Online Sales Channel. Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa.

Driver of the Shrimp Market

The shrimp market is primarily driven by changing consumer preferences that lean towards healthier eating habits, as shrimp is celebrated for being a low-calorie, high-protein seafood choice. Its adaptability in diverse culinary applications across global cuisines has significantly contributed to its rising popularity, establishing it as a key ingredient in numerous recipes. Additionally, international trade remains crucial, with prominent exporting nations such as India, China, Vietnam, Indonesia, and Ecuador catering to the needs of major importing countries, including the United States, European Union, and Japan. This intricate interplay of health consciousness and global commerce continues to enhance the shrimp market's growth.

Restraints in the Shrimp Market

The shrimp market faces significant constraints primarily due to the vulnerability of shrimp farming to disease outbreaks, which adversely affect production levels and threaten the sustainability of the industry. The intensification of aquaculture practices often leads to a higher incidence of diseases, thereby requiring rigorous biosecurity measures to protect stock. Furthermore, environmental issues related to shrimp farming, including habitat degradation and water pollution, have generated growing demands for more environmentally sustainable practices. As the industry grapples with these challenges, addressing health risks and implementing eco-friendly approaches will be critical to ensuring long-term viability and minimizing negative impacts.

Market Trends of the Shrimp Market

The shrimp market is experiencing a notable trend driven by rising consumer awareness and a preference for clean label products. As consumers increasingly prioritize sustainability, there is a growing demand for responsibly sourced shrimp, with certifications like the Aquaculture Stewardship Council (ASC) and Best Aquaculture Practices (BAP) gaining traction as trusted indicators of ethical sourcing. Additionally, the market is witnessing a surge in value-added shrimp products, catering to changing lifestyles that favor convenience and ready-to-cook options. This dual focus on sustainability and convenience is reshaping the shrimp supply chain, positioning it for sustainable growth in an environmentally conscious consumer landscape.