The Reports and Insights, a leading market research company, has recently releases report titled “Shrimp Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2031.” The study provides a detailed analysis of the industry, including the global Shrimp Market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.

Report Highlights:

How big is the Shrimp Market?

The shrimp market was US$ 27.5 Bn in 2022. Furthermore, the shrimp market to register revenue CAGR of 5.6% over the forecast period and account for market size of US$ 44.9 Bn in 2031.

What are Shrimp?                                                                                                                                                                            

Shrimp are small crustaceans found in marine environments, known for their elongated bodies and swimming ability. They are a popular seafood choice globally, valued for their delicate taste and texture. Shrimp are an essential part of marine ecosystems, serving as prey for various larger species. They inhabit both freshwater and saltwater habitats and are also extensively farmed to meet the high demand for their consumption.

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What are the growth prospects and trends in the Shrimp industry?

The shrimp market growth is driven by various factors and trends. The shrimp market is a key segment of the global seafood industry, propelled by strong consumer demand for shrimp owing to its flavor, flexibility, and perceived health advantages. It encompasses a range of shrimp species, sourced from both wild fisheries and aquaculture, with major producers including China, India, Indonesia, Vietnam, and Ecuador. Shrimp are marketed in diverse forms, including fresh, frozen, and processed products like shrimp paste and sauce. Market dynamics are shaped by factors such as consumer tastes, trade regulations, environmental policies, and disease outbreaks that can affect shrimp stocks and production volumes. Hence, all these factors contribute to shrimp market growth.

What is included in market segmentation?

The report has segmented the market into the following categories:

By Type:

• Pink
• White
• Brown
• Others

By Form:

• Frozen
• Canned

By End-user:

• Residential
• Commercial

By Distribution Channel:

• Hypermarkets/Supermarkets
• Convenience Stores
• Specialty Stores
• Online Sales Channels

By Region: 

North America

• United States 
• Canada 

Europe

• Germany 
• United Kingdom 
• France 
• Italy 
• Spain 
• Russia 
• Poland 
• Benelux 
• Nordic 
• Rest of Europe 

Asia Pacific

• China 
• Japan 
• India 
• South Korea 
• ASEAN 
• Australia & New Zealand 
• Rest of Asia Pacific 

Latin America

• Brazil 
• Mexico 
• Argentina
• Rest of Latin America

Middle East & Africa

• Saudi Arabia 
• South Africa 
• United Arab Emirates 
• Israel 
• Rest of MEA

Who are the key players operating in the industry?

The report covers the major market players including:

• Aqua Star Corp.
• Avanti Feeds Ltd.
• Clearwater Seafoods Inc.
• High Liner Foods Inc.
• Marine Harvest
• Maruha Nichiro Corporation
• Nippon Suisan Kaisha
• Nordic Seafoods A/S
• Surapon Foods
• Thai Union Group

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