The global shrimp market is a highly competitive business with concentration depicting high fragmentation, owing to the presence of numerous regional players, especially with their manufacturing base in Asia Pacific.
Dallas, United States - April 19, 2021 /MarketersMedia/ —
The global shrimp market revenue is estimated to reach USD 133.43 billion by 2025 driven by the increasing demand for the product as a cheap source of protein. Rising consumer demand for protein across the world due to its various benefits for general well-being is expected to augment the demand for shrimps over the forecast period.
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The global shrimp market is driven by factors such as increase in demand for the hospitality and food industry is also likely to boost the growth of the market. In addition, there has been an increase in demand for the protein content which also attributes to the growth of the market in the estimated forecast period.
Moreover, increase in globalization has led to the increase in demand for several new delicacies which is likely to boost the demand for the market in the estimated forecast period. Furthermore, there has been a wide-scale need for antioxidants which is likely to boost the growth of the market in the estimated forecast period. In the recent time, there has been an increase in diseases like cancer and diabetes, which has led to increase in demand for nutrition which is available in shrimp which attributes to the growth of the market in the estimated forecast period.
In addition, shrimp can be stored for a longer duration which is one of the factors which is likely to accelerate the growth of the market in the estimated forecast period. Moreover, changes in lifestyle is also likely to boost the growth of the market. Moreover, the ease of availability is also one of the factor which is likely to enhance and boost the growth of the market. There are several initiatives by the companies to launch variety of products which is likely to boost the growth of the market.
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In addition, increase in disposable income and the long storage time is also likely to boost the growth of the market. In addition, to meet the demand for the increase in shrimp consumption, there are several farmers which have increased the cultivation of prawns and other crustaceans. Moreover, increase in the urbanization is also contributing to the global shrimp market in the estimated forecast period. In addition, increase in the growing population is also likely to boost the growth of the market. However, due to excess consumption of prawns, the population of prawns is affected which is likely to hinder the growth of the market. In addition, changing environmental factors is also likely to affect the growth of the market.
The global shrimp market is bifurcated into various type of methods of farming, users and on the basis of fish and crustacean species, and on the basis of geography. On the basis of methods of farming, it can be bifurcated into fresh water farming, and salt water farming. On the basis of species, it can be bifurcated as macrobrachium rosenbergii , monodon, macrobrachium rosenbergii and others. Based on the number of the regions covered, the market is further sub-segmented in to Europe, Asia Pacific, North America, and MEA. North America is one of the regions with the largest share in the market.
Aqua Star, Thai Union Group, Camanor Produtos Marinhos Ltda, Mazzetta Company, Maruha Nichiro Corporation, and Charoen Pokphand Food PCL are the leading players present within the global shrimp market. These companies are focusing on expanding their presence in the global shrimp industry over the next few years by adopting strategies such as mergers & acquisitions and product standardization. For instance, Charoen Pokphand Foods PCL purchased a 40% ownership in one of the leading shrimp farmers & processors in Brazil, i.e., Camanor Produtos Marinhos Ltda, in April 2018. The deal was valued at USD 17.5 million (EUR 14.1 million).
Key segments of the global shrimp market
Source Overview, 2012-2025 (Kilo Tons) (USD Million)
Capture fisheries
Aquaculture
Species Overview, 2012-2025 (Kilo Tons) (USD Million)
Whiteleg shrimp
Natantian decapods nei
Akiami paste shrimp
Giant Tiger Prawn
Banana prawn
Northern Prawn
Others
End-use Overview, 2012-2025 (Kilo Tons) (USD Million)
Food
Non-food
Regional Overview, 2012-2025 (Kilo Tons) (USD Million)
North America
U.S.
Mexico
Europe
Asia-Pacific
China
India
Japan
Singapore
Thailand
Vietnam
Indonesia
Middle East & Africa
Saudi Arabia
Egypt
South America
Brazil
Some Points from Table of Content:
- Executive Summary
- Research Methodology
- Market Outlook
- Shrimp Market Overview, By SourceGlobal shrimp market share, by source, 2017 & 2025Capture fisheries
- Shrimp Market Overview, By SpeciesGlobal shrimp market share, by species, 2017 & 2023Whiteleg shrimp
- Shrimp Market Overview, By End-useGlobal shrimp market share, by end-use, 2017 & 2025Food
- Shrimp Market Overview, By RegionGlobal shrimp market share, by region, 2017 & 2023North America shrimp market
- Industry Structure
- Company ProfilesCharoen Pokphand Food PCL
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