Shrimp Market

Shrimp Market size was valued at USD 31,899 million in 2020 and is projected to register a healthy CAGR of 9.1% during the forecast period due to increasing health awareness among individuals.

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Shrimp is a small-sized aquatic crustacean with an enlarged body, usually consumed as food. Shrimps are a healthy source of carotenoids, thus helping in preventing cancer. The polyunsaturated fatty acids in shrimps play a major role in preventing health disorders. Also, the increasing usage of shrimps in cosmetic and pharmaceutical products such as sunscreen and anti-aging creams, owing to the powerful antioxidants present in them, which help to reduce aging signs caused by sunlight or UV rays, will bolster the market growth. Other factors such as the growing adoption of eco-friendly environment techniques and contract farming with strategic government policies will propel the market growth.

Also, the shrimp market forecast projects that shrimp has gained immense prominence owing to its nutritional value, i.e., low fat and high protein, and changing food preference of consumers toward a high-protein diet. However, shrimps are costly, which might hinder market growth.

By type, the white shrimp segment is projected to expand at a higher CAGR over the forecast period, owing to the higher protein content in them. Also, white shrimps have a higher feed to growth ratio and can be stored for a longer period, which will surge the shrimp market growth

By form, frozen shrimps segment is forecast to hold a larger share during the forecast period due to its enlarged self-life. Shrimps are biodegradable; however, freezing helps preserve their quality, which is a major reason for bolstering the segment's growth.

Shrimp Market Segmentation:

Shrimp Market by Type
  • Brown
  • White
  • Pink
  • Others
Shrimp Market by Form
  • Canned
  • Frozen
Shrimp Market by End Use
  • Commercial
  • Residential
Shrimp Market by Region:
  • Asia Pacific
    • China
    • Japan
    • India
    • Rest of APAC
  • North America
    • United States of America
    • Canada
  • Europe
    • United Kingdom
    • Germany
    • France
    • Spain
    • Rest of Europe
  • RoW
    • Brazil
    • South Africa
    • Saudi Arabia
    • UAE

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