Shrimp Market By Type (Frozen Shrimp, Fresh Shrimp, Canned Shrimp, Dried Shrimp), By Species (Penaeus Vannamei, Penaeus Monodon, Litopenaeus setiferus, Others), By Application (Food Service Industry, Retail/Consumer Market, Food Processing, Pharmaceuticals), By Farming Method (Capture Fisheries, Aquaculture), By Distribution Channel (Direct Sales, Supermarkets, Online Retail, Specialty Stores), Global Market Size, Segmental Analysis, Regional Overview, Company Share Analysis, Leading Company Profiles, and Market Forecast, 2025 – 2035.

Industry Outlook

The Shrimp Market accounted for USD 80.7 Billion in 2024 and is expected to reach USD 163.85 Billion by 2035, growing at a CAGR of around 6.65% between 2025 and 2035. The shrimp market identifies the worldwide business structure that produces shrimp products and their distribution and sales operations.

The shrimp market consists of wild shrimp gatherers and farmed shrimp producers who deliver significant products to different international markets. Market conditions are shaped by supply-demand dynamics while government rules and sustainability standards influence this market. Shrimp maintains its status as a widely favored sea product because people love its eating qualities and numerous kitchen possibilities. Seafood suppliers, fishing industries, and large retail chains make up the principal actors within the shrimp market sector. Concurrent developments in the seafood market center on superior product standards and changing fish prices while showing interest in eco-friendly seafood choices.

Report Scope:

Market Dynamics

Rising Global Demand, increasing consumer preference for protein-rich seafood amid health-conscious trends

A noticeable expansion of the global shrimp market occurs because consumers seek protein-rich seafood. Food consumers now focus on health while shifting their preferences toward nutrient-rich diets, so shrimp becomes fundamental to this dietary change. Shrimp presents itself as a nutritious food because it contains low fat but high protein content omega-3 fatty acids, which make it suitable for dieters following balanced eating plans. Customers have increased their purchase of shrimp products because of enhanced sustainable practices in aquaculture and improved responsible sourcing techniques, which have gained their confidence across worldwide markets.

People are increasingly consuming seafood more frequently because they understand the nutritional advantages and the wide range of culinary options available, according to data from the Food and Agriculture Organization (FAO). The market expansion of shrimp products benefits from government support programs that develop aquaculture while maintaining sustainable fisheries operations. Shrimp producers increase their cultivation activities through modernized farming practices to satisfy growing market needs while protecting the environment.

Investments in sustainable shrimp farming are boosting global production capacity

The investment in sustainable shrimp farming plays an essential part in boosting worldwide shrimp harvesting capabilities. Through technological innovations, aquaculture farming, with sustainable production methods and environmentally friendly fish feed systems, enables producers to improve their yield without harming the environment. Investments from governments and private firms fund programs that maximize water quality management and disease control and traceability systems, thus securing permanent sustainability in the shrimp market. The shrimp farming industry continues to adopt responsible practices because of the increasing acceptance of BAP and ASC certification programs.

Governments determine sustainable shrimp farming as fundamental for satisfying escalating worldwide shrimp market requirements. The Food and Agriculture Organization (FAO) recognizes improved aquaculture techniques as the solution to boost shrimp production through methods that protect the environment. Market expansion occurs through increased supply and consumer demand for socially responsible seafood products, which sustainability becomes a primary market driver.

High production costs significantly impact profitability and overall market sustainability

High production expenses in the shrimp market create a significant restriction that reduces profitability and sustainable long-term operation. Rising operational expenses from feed costs, labor needs, disease management, and infrastructure needs increase the operational challenges for farmers as they strive to price their products competitively. Small and medium-sized shrimp farmers experience financial instability caused by the upward movement of feed and fuel prices, which negatively affects their profit margins.

Company expansion becomes challenging since operations end up being inefficient at achieving scale. The implementation of advanced technology combined with sustainable farming methods increases financial expenses that prevent new producers from entering the market. The strict environmental regulations and quality control standards drive up production costs, which lower the affordability of shrimp farming for companies. The market restrictions and price instability in the global shrimp industry hinder its ability to reach sustainable long-term growth.

Expanding aquaculture industry, increased investments in shrimp farming to meet global demand

As the aquaculture industry expands, it creates meaningful prospects for the shrimp market because global seafood consumption grows, and shrimp farming receives more financial investments. Shrimp aquaculture has advanced due to technological developments that boost production rates while increasing efficiency since increasingly many consumers look for sustainable protein-based food options. The long-term industry sustainability results from government funding investigative research and sustainable farming practices and disease control initiatives backed by private sector financial support.

The Food and Agriculture Organization (FAO) uses sustainable aquaculture as one of its main strategies for reaching global food security and identifies shrimp farming as being central to this effort. Public policies, innovative feed methods, and breeding improvements help shrimp production become more efficient as they simultaneously decrease environmental impact and increase available production levels. The expanding global shrimp market creates appealing business prospects for all participants from production through distribution.

Changing trade policies, tariffs, export restrictions, and bilateral agreements shaped shrimp commerce

Shrimp market performance responds strongly to trade policy changes that affect tariffs, policy, export control systems, and bilateral agreement systems. International governments use shifting trade policies to protect their businesses and stimulate export growth while meeting international trade standards. The reduction of trade barriers through agreements that favor shrimp exports enables this product to compete more effectively in international markets. Advanced limitations, including greater taxes, raise export costs and limit market entry for firms, compelling them to seek alternate trading channels or markets.

The shrimp trade between the United States, Mexico, Canada, and the European Union is heavily influenced by international trade rules that govern import and export activity. According to the Food and Agriculture Organization (FAO), the worldwide shrimp trade is dependent on policy changes in major markets like the United States, China, and the European Union, where import bans and sustainability criteria are now evolving. To enter the global market, shrimp producers must overcome both market limits and opportunities.

Industry Experts Opinion

"The whole of 2023 has been characterized by oversupply and consumer hesitance, which caused high stock levels."

• Bert Van Loock, Owner and Managing Director, Aquamarine Seafood.

"The supermarket procurement practices changed, and the working conditions were affected - directly and rapidly."

• Katrina Nakamura, Sustainability Incubator.

Segment Analysis

Based on the type, the Shrimp market has been classified into Frozen Shrimp, Fresh Shrimp, Canned Shrimp, and Dried Shrimp. The frozen shrimp segment leads the shrimp market because consumers demand it due to its long shelf life and convenient nature combined with its high global popularity. The market prefers frozen shrimp because consumers, food service industries, and retailers find storage and transportation to be effortless. The freezing process preserves shrimp freshness alongside its taste and nutritional benefits, which makes it a preferred seafood product among developed and developing countries. The increased seafood market demand and improved freezing methods have expanded the frozen shrimp market even more. The major shrimp-producing nations, India, Ecuador, and Vietnam, send their shrimp exports primarily as frozen products. The market dominance of frozen shrimp results from increasing demand across the U.S., Europe, and China. Frozen shrimp remains the most important segment because it offers affordability and easy access.

Based on the Species, the Shrimp market has been classified into Penaeus Vannamei, Penaeus Monodon, Litopenaeus setiferus, and others. Pacific white shrimp, known as Penaeus vannamei, holds the leading position in shrimp market dominance. The species dominates the market because it shows rapid growth and high survival rates and works well under different aquaculture conditions. The species is preferred by farmers because it offers economical production and superior yield performance when compared to alternative shrimp species. The Asian countries China, India, Thailand, and Vietnam have established large-scale export operations of Penaeus vannamei through their extensive farming activities. Strong market demand from the United States and Europe, along with other global regions, supports the dominance of the shrimp market. Penaeus monodon's disease resistance stands as one of the reasons farmers prefer this species over Penaeus monodon.

Regional Analysis

The Asia-Pacific shrimp market is the largest and most rapidly expanding market because consumers show strong interest while sea farming activities flourish throughout aquaculture zones across multiple nations. The global shrimp industry depends on countries such as China, India, Vietnam, and Indonesia because they see support from their governments and a beneficial climate for aquaculture development. The market expands because consumers have become more health conscious, and they eat more fish products. The shrimp farming industry receives improved efficiency throughout the region through technological breakthroughs that include sustainable methods and disease monitoring procedures. Value-added shrimp products and expanding retail channels create rapid sector growth because consumers prefer these products. Both domestic and international market forces indicate that the area will uphold its leadership position.

The North American shrimp market is leading due to increasing seafood consumption coupled with health-driven eating patterns as well as the rising demand for protein sources. The United States leads the market by increasing imports while its retail and food service operations accelerate market expansion. Regulatory policies together with sustainability concerns drive stakeholders toward sustainable decisions that require eco-friendly certifications. Market stability coexists with stable expansion, which results from consumer preference changes and seafood farming innovation. The development of domestic shrimp aquafarming receives support from modern processing techniques, which result in enhanced supply chain efficiency. Value-added shrimp products and convenient seafood options, which retail channels and restaurants provide, help support the increasing market growth.

Competitive Landscape

Major shrimp market leadership exists among four principal companies, including Thai Union Group, Charoen Pokphand Foods, Maruha Nichiro Corporation, and Nippon Suisan Kaisha (Nissui). The companies maintain substantial market positions because they operate vast aquaculture facilities alongside worldwide distribution systems. Thai Union Group expanded its market reach through its joint venture with R&B Food Supply and Srinivasa Cystine Private Limited to deliver high-quality food ingredients to Indian customers.

The Indian shrimp production and export sector is dominated by three major companies, including Devi Seafoods, alongside Nekkanti Sea Foods Limited and Apex Frozen Foods Ltd. Devi Seafoods joined the Seafood Task Force to demonstrate its dedication to sustainable practices. Nekkanti Sea Foods Limited made a strategic financial move by investing 50 crore rupees into Captain Fresh, which launched an online platform for meat and seafood distribution to advance digital distribution channels. The shrimp market demonstrates dynamic characteristics through companies that pursue growth prospects while strengthening their competitive positions.

Shrimp Market, Company Shares Analysis, 2024

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Recent Developments:

• In May 2023, Thai Union teamed up with Samut Sakhon City Development to organize a marine debris cleanup project for environmental protection. This initiative highlighted Thai Union’s commitment to environmental sustainability and the responsible management of marine ecosystems.

Report Coverage:

By Type

• Frozen Shrimp
• Fresh Shrimp
• Canned Shrimp
• Dried Shrimp

By Species

• Penaeus Vannamei
• Penaeus Monodon
• Litopenaeus setiferus
• Others

By Application

• Food Service Industry
• Retail/Consumer Market
• Food Processing
• Pharmaceuticals

By Farming Method

• Capture Fisheries
• Aquaculture

By Distribution Channel

• Direct Sales
• Supermarkets
• Online Retail
• Specialty Stores

By Region

North America

• U.S.
• Canada

Europe

• U.K.
• France
• Germany
• Italy
• Spain
• Rest of Europe

Asia Pacific

• China
• Japan
• India
• Australia
• South Korea
• Singapore
• Rest of Asia Pacific

Latin America

• Brazil
• Argentina
• Mexico
• Rest of Latin America

Middle East & Africa

• GCC Countries
• South Africa
• Rest of Middle East & Africa

List of Companies:

• Thai Union Group
• Charoen Pokphand Foods
• Maruha Nichiro Corporation
• Nippon Suisan Kaisha (Nissui)
• Devi Seafoods
• Clearwater Seafoods
• SeaPak Shrimp & Seafood Co.
• Zhanjiang Guolian Aquatic Products
• Nekkanti Sea Foods Limited
• BMR Group
• Jayalakshmi Sea Foods Pvt. Ltd.
• SSF Limited
• Apex Frozen Foods Ltd.
• Megaa Moda Private Limited
• Zeal Aqua Limited

Frequently Asked Questions (FAQs)