Shrimp Market 2018 to touch USD 133.43 billion Value by 2025 – Global Industry Analysis by Tech Trends, Investment Challenges, Opportunities and Projection

October 11 19:30 2018

Global Shrimp Market revenues to grow at a CAGR of 6.2% during the forecast period
Latest market study on global Shrimp market is segmented into Species (Whiteleg shrimp, Natantian decapods nei, Akiami paste shrimp, Giant Tiger Prawn, Banana prawn, Northern Prawn, & Others), Source (Capture Fisheries, Aquaculture), End-use (Food, Non-Food), Regions and 2017-2023 Forecasts Research report.APAC to continue being the largest shrimp producer in the world.

The global shrimp market value is projected to be worth USD 133.43 billion by 2025. Rising consumption of shrimp due to its high nutritional value and low cost is expected to drive the market demand over the projected period.

Shrimps are either wild captured or harvested in aquaculture ponds. Wild-captured results in the harvesting of different types of shrimp species, whereas only specific prawn species, can be harvested in an aquaculture pond by controlling various factors such as the rate of breeding and growth.

Rising shrimp demand has resulted in aquaculture outpacing capture fisheries to satiate the increasing global demand as well as to balance the aquatic ecology, which is skewed at present due to overfishing activities over the past decades. The average global shrimp prices were around USD 9 per kilogram in 2017 and are subject to change on a monthly basis depending on various factors including production and supply-demand gap. Correct composition of shrimp feed with variations based on the species, geography and type of the water source have been other factors determining the price of prawns.

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Fish being a product primarily meant for direct human consumption (DHC) is subject to numerous stringent regulations. Companies adhere to numerous food safety and quality standards such as the certifications offered by EFSIS/BRC, GMP, HACCP, ACC, HALAL, Global Standard, and ISO 17025 and ISO 9001. Certification and standardization have been critical factors in establishing the global shrimp market with numerous companies marketing the product under various brands. Additionally, this has helped companies to establish a brand recognition in numerous countries, especially in North America and Europe.

Other than food, shrimps are also used in non-food applications including fish oil, fish meal and pharmaceutical among others. The increasing demand for these products is also expected to augment the global shrimp market growth. In this case, the non-food use segment is anticipated to contribute 24.5% of the overall revenues in 2025.

Key Segments of The Global Shrimp Market

Source Overview, 2012-2025 (Kilo Tons) (USD Million)
Capture fisheries
Aquaculture

Species Overview, 2012-2025 (Kilo Tons) (USD Million)
Whiteleg shrimp
Natantian decapods nei
Akiami paste shrimp
Giant Tiger Prawn
Banana prawn
Northern Prawn
Others

End-use Overview, 2012-2025 (Kilo Tons) (USD Million)
Food
Non-food

Regional Overview, 2012-2025 (Kilo Tons) (USD Million)
North America
Europe
Asia-Pacific
Middle East & Africa
South America

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Exotic food dishes made using shrimps in almost all cuisines across the world are driving its demand with consumers experimenting with new cultures. Rising awareness about fitness is another key factor driving the demand for shrimps as a protein source. Moreover, shrimps are relatively easier to peel, cook and consume due to the absence of any bones. This has made it a popular food choice among non-vegetarians, especially those who do not consume red meat.

Thai Union Group, Aqua Star, Maruha Nichiro Corporation, Mazzetta Company, Charoen Pokphand Food PCL and Camanor Produtos Marinhos Ltda are the top seven players operating in the global shrimp market. These companies have tapped the potential present in the market and are expected to expand their footprint over the next few years via mergers & acquisitions (M&A) and product certification. For instance, in April 2018, Charoen Pokphand Foods PCL acquired 40% stake in Camanor Produtos Marinhos Ltda, one of Brazil’s top shrimp farmers and processors. The transaction was valued at USD 17.5 million (EUR 14.1 million).

A summation of these factors implies the tremendous growth opportunity available for the global shrimp market to bridge the gap between supply and demand. However, shrimps can be harvested in specific climates, an advantage harbored by Asia Pacific and South American countries. These regions being the largest producers have witnessed tremendous growth in associated industries including cold chain supply and other logistic pockets.

Few points from Table of Content:
1. Executive Summary

2. Research Methodology
• Research approach
• Scope, definition, and assumptions
• Data sources

3. Market Outlook
• Introduction
• Key trends
• Market drivers
• Market restraints
• Market opportunities
• Value chain analysis
• Regulatory framework
• Trade statistics, 2012-2017
• By region

4. Shrimp Market Overview, By Source Global shrimp market share, by source, 2017 & 2025Capture fisheries
• Market size and projections, 2012-2025
• Aquaculture
• Market size and projections, 2012-2025

5. Shrimp Market Overview, By Species Global shrimp market share, by species, 2017 & 2023Whiteleg shrimp
• Market size and projections, 2012-2025
• Natantian decapods nei
• Market size and projections, 2012-2025
• Akiami paste shrimp
• Market size and projections, 2012-2025
• Giant tiger prawn
• Market size and projections, 2012-2025
• Banana prawn
• Market size and projections, 2012-2025
• Northern prawn
• Market size and projections, 2012-2025
• Others
• Market size and projections, 2012-2025

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