Research Reports
Shrimp Market Is Set To Experience A Revolutionary Growth
Published by Coherent Market Insights
Posted on September 28, 2021
4 min readLast updated: February 1, 2026
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Published by Coherent Market Insights
Posted on September 28, 2021
4 min readLast updated: February 1, 2026
The shrimp market is set for revolutionary growth, driven by nutritional benefits and increased aquaculture. Asia Pacific leads this expansion.
Shrimps are classified as decapod crustaceans that play important roles in the food chain and are an important food source for larger animals ranging from fish to whales. Humans consume the muscular tails of several shrimp that are widely caught and farmed for consumption. Around 20% 0f the species are commercially significant that include Whiteleg, giant tiger prawn, akiami paste shrimp, southern rough shrimp, and others. Based on their categorization of presentation, grading, colour, and uniformity, most shrimp are sold frozen and marketed for high levels of omega-3 fatty acids and low levels of mercury along with proteins, vitamin A and B6, B12, C and E, thiamin, riboflavin, niacin, phosphorous, copper, choline, iodine, and astaxanthin. Furthermore, it has anti-inflammatory, anti-ageing, and anti-cancer properties. Chitosan from shrimp shells has a range of application in pharmaceuticals, agrochemicals, cosmetics, and in water treatments. Pigments such as carotenoids and astaxanthin are obtained from shrimp waste and is widely used in the pharmaceutical industry.
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High nutritional benefits of shrimp along with increasing applications of chitosan and pigments obtained from shrimp are driving growth of the shrimp market. Moreover, growing consumption of seafood and increasing aquaculture industry are further fuelling growth of the shrimp market. For instance, according to United Nations Food and Agriculture Organization (UN FAO) survey in July 2016, the global per capita seafood consumption increased above 20 kg per person per year.
Market players in the global shrimp market are adopting various strategies such as merger and acquisitions, collaborations, and new product launches to retain their market share. For instance, in February 2014, Marubeni Corporation acquired Eastern Fish Company. In June 2017, BioMar Group acquired 70% of Alimentsa for US$ 121 million; and in October 2014, Alkame Holdings, Inc. acquired High Country Shrimp Company. Also, in July 2017, Guangdong Bai Da Science & Technology launched BD shrimp brand in China.
Major players operating in the global shrimp market are Pacific Seafood, Morubel nv, Maruha Nichiro Corporation, The Clover Leaf Seafoods Family, Royal Greenland A/S, Rich Products Corporation, Thai Union Group PCL, Marvesta Shrimp Farms, Cargill, Incorporated, and Nippon Suisan Kaisha Ltd.
Market Dynamics
Increasing demand for seafood along with growing aquaculture industry are the major factors, aiding in the market growth. According to the Food and Agriculture Organization of the United States (FAO), global aquaculture production of fish had increased to 44.1 % in 2014 from 42.1% in 2012 of total production. Further, benefits associated with shrimps consumption includes reduced risk of cardiovascular disease, weight management, and improved brain and bone health. These are the factors largely supporting growth of the global shrimp market.
Asia Pacific is projected to be the fastest growing region in the global shrimp market over the forecast period, owing to rising demand for high-quality and healthy seafood products. In addition to this, high shrimp aquaculture in China, Thailand, India, Indonesia, Vietnam, and Bangladesh is further aiding in the market growth. According to FAO, in 2016, with the growing shrimp aquaculture, India had become a leading exporter in international shrimp trade and was followed by Thailand, Indonesia and China.
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The post Shrimp Market Is Set To Experience A Revolutionary Growth appeared first on Gatorledger.
The article discusses the revolutionary growth in the global shrimp market.
High nutritional benefits, increasing seafood consumption, and aquaculture industry expansion.
Asia Pacific is projected to be the fastest growing region in the shrimp market.
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