Dublin, April 30, 2025 (GLOBE NEWSWIRE) -- The "Shrimp Market Size and Share Analysis - Growth Trends and Forecast Report 2025-2033" report has been added to ResearchAndMarkets.com's offering.
The market for shrimp was worth USD 68.84 billion in 2024 and is anticipated to grow to USD 102.48 billion by 2033, with a CAGR of 4.52% during the period from 2025 to 2033. The growth of the market is fueled by the rise in seafood consumption, improved health awareness, and technological developments in aquaculture methods. Increased demand for frozen and processed shrimp also supports market growth across the world.
Growing Demand for Protein-Rich Seafood
Shrimp is a low-fat, high-protein seafood option, which is favored by health-conscious consumers. The growing trend of healthy eating and fitness culture has increased shrimp consumption globally. Also, shrimp is a popular ingredient in many cuisines, and thus the demand is getting higher in restaurants and homemade food. With health concerns related to red meat consumption, increasing numbers of consumers are opting for lean protein-rich foods such as shrimp. The transition and rising popularity of pescatarian diets are greatly influencing market growth. June 2023, Norwegian aquafeed producer Skretting has introduced Elevia, a revolutionary new shrimp feed for hatcheries and nurseries. The development of Elevia aims to augment nutrition and improve water quality in order to support better larval performance, streamline feed management, and have a cleaner system.
Shrimp Aquaculture Expansion
Progress in shrimp cultivation has resulted in enhanced production and supply globally. India, Vietnam, Ecuador, and Indonesia allocate substantial investments into shrimp aquaculture to keep global markets with a steady supply. Sustainable aquaculture practices such as bio floc technology, recirculating aquaculture systems (RAS), and disease management have enhanced productivity and minimized mortality. This growth ensures shrimp is cheap and easily accessible, sustaining market growth. December 2024, Ace Aquatec's new A-HSU for Shrimp is a transportable system used to stun crustaceans prior to slaughter, which has been developed in cooperation with the producers of shrimp. The first to apply this system is a Thailand-based shrimp farm, with the support of the Shrimp Welfare Project.
Growing Demand for Processed and Value-Added Shrimp
There is a growing demand for processed and value-added shrimp, especially ready-to-eat and processed products in developed economies such as the United States, Europe, and Japan. The market demands convenience-driven seafood products such as frozen, cooked, and breaded shrimp, which have little to no preparation requirement. Expansion of supermarkets, hypermarkets, and internet-based food delivery outlets has further boosted the availability and accessibility of these products. The food service sector also comes into play, with restaurants and fast-food chains including shrimp-based products in their menus. February 2025, Labeyrie Fine Foods has invested €18 million in the opening of two new lines of production of cooked shrimp in its Delpierre unit in western France, doubling the production capacity annually to 18,000 metric tons.
Environmental Concerns and Sustainability Issues
Shrimp aquaculture has been criticized due to its environmental footprint, such as mangrove forest destruction, water pollution, and excessive use of antibiotics. Unsustainable practices have resulted in habitat loss and biodiversity loss. Consumers and authorities are demanding environmentally friendly and sustainable aquaculture, which demands significant investment and a change in operations for the shrimp aquaculture industry. Certification schemes like ASC (Aquaculture Stewardship Council) and MSC (Marine Stewardship Council) now affect purchasing choices.
Supply Chain Disruptions and Trade Barriers
Shrimp trade relies very much on international trade, so it is sensitive to disruptions in the supply chain due to climate change, pandemics, and geopolitical tensions. Volatility in feed, fuel, and transportation costs also affects profitability. Further, severe import controls and food safety laws in markets such as the EU and the US frequently result in export restrictions for the major shrimp-exporting countries.
Global L. vannamei Shrimp Market
L. vannamei (Whiteleg shrimp) holds the dominance of the world's shrimp market because of its superior yield, resistance to disease, and low-cost farming practices. It is largely cultivated in Asia and Latin America and accounts for the highest traded species of shrimp globally. October 2022, Farmers in Kazakhstan have opened the nation's first shrimp farm near Almaty and are making plans for aquafeed and broodstock production.
Global P. monodon Shrimp Market
P. monodon (Black Tiger shrimp) is prized for its bigger size and superior flavor, which tends to command higher market prices. It is widely cultivated in India, Vietnam, and Bangladesh to supply luxury seafood markets and high-end restaurants.
Global 15-20 Size Shrimp Market
Shrimp in the 15-20 size category (per pound) is regarded as valuable and is generally utilized in upscale restaurants, buffets, and specialty seafood stores. Such shrimp types are demanded for grilled and high-quality seafood dishes.
Global 31-40 Size Shrimp Market
Shrimp sized 31-40 is perhaps the most universal category. It is used to a large degree in frozen shrimp products, breaded shrimp, and quick service restaurant fare and is thus found in heavy demand in the food service and retail markets.
Global Breaded Shrimp Market
The breaded shrimp segment is expanding due to increasing demand for frozen and ready-to-cook seafood options. It is popular in fast-food chains and supermarket frozen sections, catering to consumers who seek quick and convenient meal options.
Global Cooked Shrimp Market
Cooked shrimp is widely used in pre-packaged seafood meals and food service applications. Consumers prefer pre-cooked shrimp for its easy preparation, making it a growing segment in domestic and international markets.
Global Green/Head-on Shrimp Market
Green shrimp (head-on) is dominated by export and gourmet markets, particularly in Europe and Asia. It addresses high-end seafood retailers and upmarket restaurants that concentrate on whole, fresh shrimp dishes.
United States Shrimp Market
The U.S. is a major shrimp consumer, and demand is influenced by restaurant chains, supermarkets, and frozen food stores. Convenience-based products like cooked and breaded shrimp are in demand by consumers, promoting imports from Ecuador, India, and Vietnam. April 2023, CP Foods introduced Homegrown Shrimp USA, an Indiantown, Florida, sustainable shrimp farm, which was a major shrimp project in the U.S.
Italy Shrimp Market
Italy boasts a high seafood culture, and shrimp finds extensive use in Mediterranean food. Fresh and wild-caught demand for shrimp remains strong, while premium offerings such as Black Tiger shrimp enjoy hefty sales in top-end seafood chains. Mar 2022, Lisaqua raises €4.9m to open France's first land-based shrimp farm. FoodNavigator sits down with co-founder and CEO Gabriel Boneu to discuss the firm's green production system.
China Shrimp Market
China is the world's leading producer and consumer of shrimp. Although domestic aquaculture is robust, imports of frozen and high-quality shrimp are increasing as a result of urbanization and increased disposable incomes. The food service sector is the major force behind China's shrimp market. February 2025, China topped the list as the biggest importer of Vietnamese shrimp in 2023 with imports worth $834 million, outpacing the U.S. at $756 million, reported VASEP. Shrimp exports are expected to hit $3.9 billion in 2024, a 14% year-on-year growth, with China imports up 39%.
UAE Shrimp Market
The UAE is a seafood-infused market, with high-end hotels, upscale restaurants, and supermarkets being the key drivers for shrimp consumption. With the influence of strong expat and tourist markets, demand for imported shrimp species, such as Vannamei and Black Tiger shrimp, continues to be high. January 2025, Al Islami Foods, the UAE halal poultry and meat specialist, is introducing a new range of Extra Large Shrimps. The range is made up of three types of wild-caught antibiotic- and hormone-free shrimps. Harvested from pristine waters and frozen immediately to retain nutritional content, these shrimps are keto- and high-protein friendly.
Key Players Analysis: Overview, Key Persons, Recent Developments, Revenue
- Avanti Feeds Ltd.
- High Liner Foods Inc.
- Surapon Foods
- Thai Union Group
- The Waterbase Ltd.
- Royal Greenland
- Maruha Nichiro Corporation
- Mowi ASA
- Charoen Pokphand Foods PCL
Key Attributes
| Report Attribute | Details |
| No. of Pages | 200 |
| Forecast Period | 2024-2033 |
| Estimated Market Value (USD) in 2024 | $68.84 Billion |
| Forecasted Market Value (USD) by 2033 | $102.48 Billion |
| Compound Annual Growth Rate | 4.5% |
| Regions Covered | Global |
Key Topics Covered
1. Introduction
2. Research Methodology
3. Executive Summary
4. Market Dynamics
4.1 Growth Drivers
4.2 Challenges
5. Global Shrimp Market
6. Market Share Analysis
6.1 By Species
6.2 By Size
6.3 By Product Form
6.4 By Countries
7. Species
7.1 L. vannamei
7.2 P. monodon
7.3 M.rosenbergii
7.4 Others
8. Size Category
8.1 < 15
8.2 15-20
8.3 21-25
8.4 26-30
8.5 31-40
8.6 41-50
8.7 51-60
8.8 61-70
8.9 >70
9. Product Form
9.1 Breaded
9.2 Cooked
9.3 Peeled
9.4 Green/Head-off
9.5 Green/Head-on
9.6 Other Forms
10. Countries
10.1 North America
10.1.1 United States
10.1.2 Canada
10.2 Europe
10.2.1 France
10.2.2 Germany
10.2.3 Italy
10.2.4 Spain
10.2.5 United Kingdom
10.2.6 Belgium
10.2.7 Netherland
10.2.8 Turkey
10.3 Asia Pacific
10.3.1 China
10.3.2 Japan
10.3.3 India
10.3.4 Australia
10.3.5 South Korea
10.3.6 Thailand
10.3.7 Malaysia
10.3.8 Indonesia
10.3.9 New Zealand
10.4 Latin America
10.4.1 Brazil
10.4.2 Mexico
10.4.3 Argentina
10.5 Middle East & Africa
10.5.1 South Africa
10.5.2 Saudi Arabia
10.5.3 UAE
11. Porter's Five Forces Analysis
12. SWOT Analysis
13. Key Players Analysis
For more information about this report visit https://www.researchandmarkets.com/r/e4z4l
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