Frequently Asked Questions
In 2022, the global Shrimp Market is expected to be worth USD 69152.5 million.
The Shrimp Market is estimated to increase at a CAGR of 5.90% between 2023 and 2030, reaching USD 109389.4 Million in 2030.
In 2022, Whiteleg shrimp (Litopenaeus. vannamei species) held the biggest market share
The Whole Shrimp category governs market demand.
Farmed shrimp will have the largest market share and the fastest CAGR
The North American shrimp market will account for 40% of this industry in 2022
The top players include Aqua Star Corp. (Seattle, U.S.), Avanti Feeds Ltd. (Hyderabad, India), Clearwater Seafoods Inc. (Bedford, Canada), High Liner Foods Inc. (Lunenburg, Canada), Marine Harvest (Bergen, Norway), Maruha Nichiro Corporation (Tokyo, Japan)
The primary drivers of the market include rising consumer demand for protein-rich seafood, rising popularity of value-added shrimp products, and the expansion of sustainable shrimp farming practices.
The market’s main obstacles are fluctuations in shrimp pricing due to supply and environmental concerns, stringent rules and standards in the seafood industry, and rising competition from other seafood sources.
The primary opportunity in the market is untapped markets and opportunities for shrimp exports, technological developments in shrimp farming techniques, and rising knowledge about the health advantages of shrimp intake.