Global Shrimp Market Size, Share, Trends, Growth and Forecast 2032

Shrimp Market Insights

According to Zion Market Research, the global Shrimp Market was worth USD 2.64 Billion in 2023. The market is forecast to reach USD 5.92 Billion by 2032, growing at a compound annual growth rate (CAGR) of 9.4% during the forecast period 2024-2032.

The report offers a comprehensive analysis of the market, highlighting the factors that will determine growth, potential challenges, and opportunities that could emerge in the Shrimp industry over the next decade.

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Introduction

Shrimp is most popular among the traditional sea foods across the globe. According to NCBI, muscle of shrimp contains huge proportion of minerals as well as proteins and low in fats. Apart from this, the lipids of shrimp demonstrate chemo-preventive and chemo-protective features. These are key biological features of this thin food product.

Market Growth Dynamics

Many of the biological events reported for lipid & methanolic extracts from the muscle of the shrimps have the ability to alter biological processes and this has been associated to preventing of cancer in human beings. This beneficial feature of shrimp consumption is likely to drive the demand for shrimps over the upcoming years. Apart from this, the presence of chemopreventive compounds in shrimps offers health benefits to humans as it possesses anti-inflammatory, anti-oxidant, anti-angiogenic, anti-mutagenic, and anti-proliferative characteristics. This is likely to generate he market demand over the coming years.

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For instance, anti-oxidants present in shrimps avoid damage of cells through reaction with free radicals along with their elimination from the human body. Furthermore, anti-oxidants have the ability to promote relapse of premalignant injuries along with arresting the growth of premalignant cuts into cancer growth. Furthermore, anti-mutagenic chemo-preventive compounds presence in shrimps provide protection against DNA mutation caused due to mutagenic agents as well as cancer initiation. The anti-proliferative compounds in shrimps slows down the uncontrolled proliferation of cancer cells. Furthermore, the anti-inflammatory feature of shrimps help in preventing the creation of suitable environment for the growth of cancer tumors. Apart from this, anti-angiogenic compounds in shrimps helps in avoiding the cancer cell multiplication through reduction of blood nutrients in the cancer tumors.

Moreover, shrimps are also the source of various carotenoids that also help in cancer prevention. The massive presence of polyunsaturated fatty acids in shrimps have been associated to play a key role in preventing human disorders such as heart ailments. However, though shrimps food comprise of reduced fat content, it consists of high cholesterols levels and this, in turn, is likely to deter the shrimp market expansion over the coming years.

Shrimp Market: Report Scope

Asia Pacific To Lead Overall Shrimp Market Surge During 2024-2032

The surge in the market in the Asia Pacific zone over the forecast timeline is owing to large-scale shrimp production in countries like China. In addition to this, thriving aquaculture activities in India will majorly contribute towards the regional market expansion over the coming years. Furthermore, countries like China, Thailand, and India are the leading exporters and manufacturers of shrimps.

Key players profiled in the report include -

• Surapon Foods Public Company Limited
• Trident Seafood’s Corporation
• Nippon Suisan Kaishaa
• Charoen Pokphand Food PCL.

The global shrimp market is segmented as follows:

By Species

• Penaeus Vannamei
• Penaeus Monodon
• Macrobrachium Rosenbergii
• Others

By Shrimp Size

• Size <_1_br />12.2 Size 21-25
• Size 26-30
• Size 31-40
• Size 41-50
• Size 51-60
• Size 61-70
• Size >70

By Distribution Channel

• Hypermarkets and Supermarkets
• Convenience Stores
• Hotels and Restaurants
• Online Sales
• Others

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa