Shrimp Market Size and Forecasts (2021 - 2031), Global and Regional Share, Trends, and Growth Opportunity Analysis

MARKET INTRODUCTION

Shrimps are decapoda crustaceans with elongated bodies, and for the movement or locomotion, they swim in the water. The most commonly found species are Caridea and Dendrobranchiata. There are thousands of species of shrimp adapted to a wide range of habitats. Most of the shrimps play an important role in the food chain, and many shrimp are widely caught and farmed for human consumption. Some of the edible species of shrimp are gulf shrimp, farmed whiteleg shrimp, banded coral shrimp, royal red shrimp, giant tiger shrimp, blue shrimp, and ocean shrimp. Commercially farmed shrimp species support an industry worth 50 billion dollars per year. Different types of shrimp have wide application in food, pharmaceutical, cosmetics, industrial and biotechnology, which is influencing this market growth.

MARKET DYNAMICS

The shrimp market has witnessed a significant growth owing to factors such as escalating demand among consumers due to the health benefits associated with shrimp, contract farming & government policies, and rising adoption of environmental-friendly production techniques. Furthermore, shrimp are used in various cuisines like Asian, American, Belgian, and other cuisines. Shrimp are also used in pharmaceutical and cosmetic industries. Due to these factors, it is expected to have a positive impact on the market growth for shrimp in the upcoming years. Most of the market players are offering shrimp for consumers with different forms, including canned, frozen, peeled, cooked, shell-on, and others. And these products are easily available in supermarkets/hypermarkets, convenience stores, hotels & restaurants, and even in online retailers. These factors further boosting the growth of the shrimp market. However, the high cost of processing and stringent government rules regarding farming, import & export of shrimp may impact the growth of the shrimp market. Nevertheless, with the robust growth in the food processing and agriculture industry, market players in shrimp market have the opportunity to grow further.

MARKET SCOPE

The "Global Shrimp Market Analysis to 2031" is a specialized and in-depth study of the food and beverages industry with a special focus on the global market trend analysis. The report aims to provide an overview of the shrimp market with detailed market segmentation by source, species, application, form, distribution channel, and geography. The global shrimp market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading shrimp market players and offers key trends and opportunities in the market.

MARKET SEGMENTATION

The global shrimp market is segmented on the basis of source, species, application, form, and distribution channel. On the basis of source, the shrimp market is segmented into cold water shrimp and hot water shrimp. Based on species, shrimp market is segmented into gulf shrimp, farmed whiteleg shrimp, banded coral shrimp, royal red shrimp, giant tiger shrimp, blue shrimp, and ocean shrimp. On the basis of application, the shrimp market is bifurcated into food, pharmaceutical, cosmetics, industrial and biotechnology, and others. Based on form, the shrimp market is segmented into canned, frozen, peeled, cooked, shell-on, and others. The shrimp market on the basis of the distribution channel is classified into supermarkets/hypermarkets, convenience stores, hotels & restaurants, online sales, and others.

REGIONAL FRAMEWORK

The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global shrimp market based on various segments. It also provides market size and forecast estimates from the year 2021 to 2031 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America. The shrimp market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.

The report analyzes factors affecting the shrimp market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the shrimp market in these regions.

MARKET PLAYERS

The reports cover various key developments in the global shrimp market. Various companies are focusing growth strategies such as product launches, product approvals and others such as patents and events. Some of the growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market payers from shrimp market are anticipated to lucrative growth opportunities in the future with the rising demand for shrimp in the global market. Below mentioned is the list of few companies engaged in the shrimp market.

The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the shrimp market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.

•  Blue Star Seafood Co. Ltd.
•  Charoen Pokphand Foods PCL.
•  DNI Group LLC
•  High Liner Foods.
•  Nippon Suisan Kaisha, Ltd.
•  Ocean America Food SA
•  Rich Products Corporation
•  Royal Greenland A/S
•  Siam Canadian Group Limited
•  The Clover Leaf Seafoods Family

The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.

Shrimp Report Scope