The latest report by IMARC Group, titled “Shrimp Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” offers a comprehensive analysis of the industry, which comprises insights on the global shrimp market. The report also includes competitor and regional analysis, and contemporary advancements in the global market.
Shrimp Market Overview:
The global shrimp market reached a value of US$ 62.8 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 84.2 Billion by 2027, exhibiting a CAGR of 4.8% during 2022-2027. Shrimp is a small marine decapod crustacean with a slender, elongated body, a compressed abdomen, and a long spiny rostrum. Shrimps are widely consumed as food as they are a rich source of proteins, vitamin D, calcium, iodine, vitamin B3, zinc, and omega-3 fatty acids. As a result, the shifting dietary habits of consumers and the rising consciousness regarding the health benefits of shrimps are facilitating their sales across the globe.
Covid-19 Overview on Shrimp Market:
The shrimp market was negatively affected during the COVID-19 pandemic due to disruptions in the supply chain. The reduced demand from Asian countries adversely affected the market growth, while numerous countries face challenges related to pond seeding. The sudden rise in COVID infections led to the adoption of lockdown, thereby adversely affecting seeding and storage activities. The pond seeding process was also delayed due to the imposition of lockdown worldwide. The restrictions imposed on the movement further created hindrances in the demand and supply of shrimp across the globe.
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Global Shrimp Market Trends:
The global market is primarily driven by the growing consumption of seafood. Furthermore, the increasing demand for ready-to-eat food items is catalyzing the market growth. Also, various initiatives undertaken by governments in developing areas for technology upgradation to improve input from shrimp farms are creating a positive outlook for the market. Additionally, an increase in the adoption of innovative environmentally-friendly production techniques and the easy availability of frozen shrimp are providing a boost to the market on the global level.
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By IMARC group the report has also analyzed the competitive landscape of the market with some of the top shrimp companies being
- Aqua Star Corp.
- Avanti Feeds Ltd.
- Clearwater Seafoods Inc.
- High Liner Foods Inc.
- Mazzetta Company LLC
- Nordic Seafoods A/S
- Surapon Foods
- Thai Union Group
- The Waterbase Ltd.
- Wild Oceans Pvt. Ltd.
Key Market Segmentation Breakup by:
IMARC Group provides an analysis of the key trends in each sub-segment of the global shrimp market, along with forecasts at the global and regional levels from 2022-2027. Our report has categorized the market based on species, size, and distribution channel.
- Penaeus vannamei
- Penaeus monodon
- Macrobrachium rosenbergii
- Hypermarkets and Supermarkets
- Convenience Stores
- Hotels and Restaurants
- Online Sales
Major Producing Regions:
Key highlights of the Report:
- Market Performance (2016-2021)
- Market Outlook (2022-2027)
- COVID-19 Impact on the Market
- Porter’s Five Forces Analysis
- Historical, Current and Future Market Trends
- Market Drivers and Success Factors
- SWOT Analysis
- Structure of the Market
- Value Chain Analysis
- Comprehensive Mapping of the Competitive Landscape
Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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