Global shrimp market expected to reach 6.7 Million Tons by 2024

 

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Shrimp is one of the most common and popular types of seafood consumed by the people across the world due to its high nutritional content. Shrimps are a moderate source of omega-3 fatty acids, high in protein and low in fat. Various studies around the world indicate favorable health benefits of shrimp consumption which include weight loss, hair growth, anti-aging, anti-cancer and prevention of cardiovascular diseases. Owing to these health benefits the demand for shrimps is increasing very rapidly. With increasing shrimps production, with the rising consumer purchasing power, the Global Shrimp Market is likely to witness significant growth in the next couple of years. In addition, the increasing trend of low fat and healthy food consumption also boost the growth of the shrimp market in the recent future. Global Shrimp Market is expected to be 6.7 Million Tonnes by the end of the year 2024.

The shrimp market has grown considerably over the years. Today, Shrimp business has become one of the most competitive among the global market. A number of regional and global players are now targeting consumers who are seeking healthy, low fat and high-quality marine products. For shrimp industry players; North America and Europe are the major markets as the per capita shrimp consumption is growing gradually among these regions. Sales of all types of shrimps are expected to increase in the forthcoming years owing to consumer preference for seafood and sweet taste globally.

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Traditionally in the shrimp market, China, Thailand, India, Ecuador, Indonesia, Malaysia, Vietnam, and Bangladesh are among the world’s leading shrimp producing countries. East Asia is the prime site for the shrimp production where shrimps hatcheries and farms are concentrated. The shrimp species like L. vannamei, P. monodon, M. rosenbergii, also known as white shrimps, king prawn, Tiger shrimps, and whiteleg shrimp are some of the major shrimp species which are found in abundance in these East Asian countries. During the past few years, India has appeared as one of the leading shrimp producers and exporters. Adoption of Pacific white L. vannamei as the main shrimp species by India’s growing aquaculture industry is one of the major factors that help India to grow more into the shrimp market. India is among the largest exporter of white shrimp to the United States.

Increasing consumer demand owing to the health benefits related to shrimp consumption considerably driving the Global Shrimp Market. On the other hand, Whispovirus (White Spot Syndrome Virus) a viral disease threatens the shrimp aquaculture immensely and so does its market as various importing countries have implemented very stricter quarantine regulations to the imported shrimp products. Today, buyers are becoming more quality oriented than that of the quantity. They are now choosing quality shrimp products rather than simply going to the quantity. However, it is believed that this challenge can be minimized as the industry players now are using advanced method and technology in shrimp farming with the focus on delivering the quality shrimp products to their buyers.

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Market Summary:
• Production-wise, China and India are one of the biggest Producer of Shrimp. The report provides the Shrimp production volume and production share of India, China, Vietnam, Indonesia, Thailand, and Ecuador.
• Export-wise, India is one among the largest exporter of Shrimp globally. The report provides the Shrimp export volume and export share of India, China, Vietnam, Indonesia, Thailand, and Ecuador.
• Consumption-wise, United States is the largest consumer of shrimp. The report covers the Shrimp consumption volume and consumption share of the United States, Europe 26 (Spain, France), China and Japan.
• On the basis of species: Whiteleg Shrimp has the largest volume in the global supply chain. The report provides global shrimp aquaculture production by following species: L. vannamei, P. monodon and M. rosenbergii.
• On the basis of forms: Shrimp aquaculture products by following forms Green / Head-on, Green / Head-off, Peeled, Cooked, Breaded and other forms production volume are also covered in the report.
• The report covers global volume of shrimp aquaculture production by following sizes: >70, 61-70, 51-60, 41-50, 31-40, 26-30, 21-25, 15-20 and <15
• Value chain analysis, growth drivers and key challenges are also covered in this report.

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Key Topics Covered :
1. Introduction
2. Research Methodology
3. Executive Summary
4. Global Shrimp Production
5. Global Shrimp - Production Share
6. Global Shrimp Market
7. Global Shrimp Producing Regions
8. Global Shrimp Exporting Regions
9. Global Shrimp Consuming Countries
10. Global Shrimp Aquaculture Production by Species
11. Global Volume of Shrimp Aquaculture Production by Size Categories
12. Global Volume of Shrimp Aquaculture by Product
13. Value Chain Analysis
14. Growth Drivers
15. Key Challenges

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Global Shrimp Market, Shrimp Market, Shrimp Market by Export, Shrimp Market by Import, Shrimp Market by Production & Consumption, Shrimp Market by Countries

 

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