Shrimp Market
Report ID: SQMIG30I2552
Report ID: SQMIG30I2552
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Report ID:
SQMIG30I2552 |
Region:
Global |
Published Date: August, 2025
Pages:
182
|Tables:
122
|Figures:
71
Global Shrimp Market size was valued at USD 79.59 Billion in 2024 and is poised to grow from USD 84.13 Billion in 2025 to USD 131.08 Billion by 2033, growing at a CAGR of 5.7% during the forecast period (2026–2033).
The primary factors driving the shrimp market growth are rising health consciousness about the nutritional value of shrimp, growing aquaculture operations that have significantly increased shrimp production, and growing seafood consumption.
Modern aquaculture technology has improved farming practices, resulting in higher yields, better quality, and more sustainable production methods. Furthermore, as farmed shrimp is more readily available, consistent, and reasonably priced than wild-caught shrimp, the shrimp industry is expanding. Additionally, improvements in processing methods like freezing and packaging have made shrimp more convenient for consumers. In addition, sustainability initiatives like eco-friendly farming and certification programs boost consumer confidence. The expansion of food service platforms, including restaurants and catering businesses, which encourage the consumption of shrimp as a popular menu item, is favorable for the shrimp market outlook.
Moreover, improvements in agriculture and technology boost shrimp yields and production efficiency. The growing demand for processed and value-added shrimp products, like frozen, cooked, or breaded varieties, encourages businesses to create and sell goods.
How are Recirculating Aquaculture Systems (RAS) Revolutionizing Shrimp Farming?
One significant technological development in the shrimp sector is recirculating aquaculture systems (RAS), which allow for controlled environments and sustainable, low-water indoor shrimp farming. These technologies eliminate the need for antibiotics, improve yield consistency, and drastically lower the risk of disease. To deliver shrimp to local markets with 99% water reuse and zero discharge, Singapore-based company Vertical Oceans extended its RAS operations in 2024. To produce shrimp year-round despite coastal and weather constraints, Charoen Pokphand Foods of Thailand had implemented RAS throughout trial farms by the middle of 2025. By using scalable, biosecure, and effective aquaculture techniques, this invention assists shrimp farmers in minimizing their environmental impact while satisfying the increasing demand from around the world.
Market snapshot - 2026-2033
Global Market Size
USD 75.3 Billion
Largest Segment
Farmed Shrimp
Fastest Growth
Wild Shrimp
Growth Rate
5.7% CAGR
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The global shrimp market is segmented into environments, species, sizes, distribution channels, and region. By environments, the market is bifurcated into farmed shrimp and wild shrimp. Depending on the species, it is divided into penaeus vannamei, penaeus monodon, and macrobrachium rosenbergii. According to sized, the market is classified into <21, 21-25, 26-30, 31-40, 41-50, 51-60, 61-70, and >70. As per distribution channels, it is categorized into hypermarkets & supermarkets, convenience stores, hotels & restaurants, and online sales. Regionally, it is analyzed across North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa.
Why is Farmed Shrimp Dominating the Global Market Share?
As per the 2024 shrimp market analysis, 61.5% of the market is made up of farmed shrimp. Shrimp that has been bred, raised, and harvested in controlled aquatic environments, such as shrimp ponds or indoor aquaculture facilities, are referred to as farmed shrimp or aquaculture shrimp. Farmed shrimp are preferred due to their consistent size, quality, and year-round availability. To meet the demands of the foodservice industry and shifting consumer preferences, the farmed shrimp segment also provides a variety of shrimp products, including varying sizes, species, and processed options, to both domestic and international markets.
The wild shrimp segment is expected to have the highest shrimp market share as consumers' preference for natural seafood over farmed seafood continues to grow. Since shrimp are wild caught in the ocean, they are believed to have a higher flavor and to come from a natural source. The significant demand in specialty and premium foodservice retailers will contribute to sales growth as traceability technologies gain credibility in identifying products made from sustainably and ethically caught wild shrimp.
How does Penaeus Vannamei Ensure Higher Farming Yields?
As per the 2024 shrimp market forecast, the penaeus vannamei segment has a 72.1% market share. Penaeus Vannamei, commonly referred to as whiteleg shrimp, has an exceptional farming history, high production potential, and can be farmed in varying environments. It's easier and cheaper to farm because it has more competitiveness and disease resistance than its other shrimp counterparts, which allows it to be farmed competitvely. The whiteleg shrimp can be farmed under intensive farming systems as well as pond farming systems, which also helps to account for its ubiquity in Asia, Central America, and the Middle East. Penaeus Vannamei's rapid growth allows for faster harvest cycles and a consistent supply to meet demand globally.
The macrobrachium rosenbergii, also known as the giant river prawn, will outgrow due to its ability to survive in freshwater, reduced susceptibility to disease, and widespread presence in integrated farming systems. Demand, particularly from Asian markets like Bangladesh and India, along with government-sponsored hatchery expansion, are expected to accelerate the species' acceptance as an aquaculture organism. Additionally, the species' compatibility with rice prawn culture makes it more attractive for sustainable aquaculture and revenue generation in rural aquaculture.
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How is Asia-Pacific Strengthening its Grip on Global Shrimp Production and Exports?
As per the shrimp market regional analysis, the Asia-Pacific shrimp market is the center for shrimp production and exports due to the expansion of aquaculture and growing domestic demand. India, Vietnam, and Thailand remain the top export destinations. Government incentives for disease-resistant seed and hatchery upgrades led to an increase in vannamei shrimp production in India in 2024. Internal demand for processed and value-added shrimp products is being driven by Southeast Asia's growing middle class and increasing sales of frozen foods.
Japan Shrimp Market
Japan is known for importing shrimp products and just-prepared shrimp. The shrimp imported into Japan in 2024 had a significant focus on shrimp from Vietnam and India with a preference for shrimp raised sustainably and without antibiotics. Japanese consumers desired better, more traceable, product integrity and to respond to consumer demand some of the retailers, namely AEON, instituted QR code traceability to imported seafood. Even with a less-than-ideal population, shrimp continues to witness high demand as the value-added product is widely used in sushi, bento boxes, and seasonal dishes.
China Shrimp Market
With a flourishing domestic aquaculture industry, China is a significant producer and consumer of shrimp. To boost productivity and lower the chance of disease outbreaks, the nation advanced indoor farming technologies in 2024. Growing incomes and the growing popularity of shrimp in snack foods and hotpot support domestic demand. Seasonal consumption peaks were highlighted by e-commerce sites such as JD Fresh, which saw an increase in shrimp sales during the Lunar New Year.
What’s Fueling Shrimp Demand in North America’s Fast-Casual and Retail Sectors?
Strong foodservice demand, particularly at fast-casual seafood chains and casual dining establishments, is propelling the shrimp market in North America. Due to dependable cold-chain logistics and advantageous trade conditions, the region witnessed a rise in imports from Ecuador and India in 2024. Sustainability is still a major concern; more ASC and BAP-certified shrimp are being sourced by Canadian seafood companies and U.S. retailers. Retail sales of tempura, frozen grilled shrimp dinners, and shrimp tacos continue to dominate the market.
U.S. Shrimp Market
Ecuador, India, and Indonesia are major suppliers to the U.S. shrimp market, which is mostly dependent on imports. Pricing and sourcing strategies were impacted by the U.S. International Trade Commission's 2024 assessment of anti-dumping levies on Southeast Asian shrimp. Convenience and health trends are driving a shift in consumer demand toward peeled, deveined, and seasoned shrimp. Traceable and ethically sourced frozen shrimp products are becoming increasingly popular, due to retailers like Costco and Whole Foods.
Canada Shrimp Market
Canada boasts a distinctive shrimp market due to its reliance on imports for warmwater shrimp and its own coldwater shrimp operations. The sustainably harvested Northern shrimp market grew in 2024, and Newfoundland processors reported significant exports to Asia and Europe. For meals at home, Canadians prefer frozen cooked shrimp, especially during seafood festivals and holidays. When it comes to sourcing shrimp, certifications like MSC are becoming increasingly significant in the retail and catering industries.
How is Europe’s Shrimp Market Adapting to the Sustainability Imperative?
Quality, traceability, and sustainability are very important in the European shrimp sector. The EU continues to import a significant supply of shrimp, particularly from Vietnam and Ecuador. In 2024, retailers, such as Lidl and Carrefour, raised the number of shrimps offered under their private label that was certified by the ASC. The regulations around shrimp sourcing continue to be regulated by the European Green Deal that pushes for transparency in labeling and lower carbon footprints. In southern countries where shrimp is the staple of Mediterranean cuisine, consumers are increasingly opting for peeled or ready-to-eat varieties.
UK Shrimp Market
The UK shrimp exporters are now Ecuador and Vietnam due to trade restrictions following Brexit. In 2024, UK consumers favored high-end, ethically sourced products, particularly breaded and chilled shrimp snacks. Shrimp was used in "meal deal" promotions by retailers such as Tesco and Waitrose. Online seafood subscription boxes have grown in popularity, reflecting consumers' increasing desire for quick, restaurant-quality shrimp options for their homes.
France Shrimp Market
The shrimp market is driven by French gastronomic diversity, which includes traditional recipes and contemporary frozen convenience meals. Carrefour and Intermarché, allowed to sell organic and ASC-certified prawns in 2024, added much more organic and ASC-certified prawns to their core products lines. The flavors of shrimp, typically served with paella, salads and platters, have influences using Asian and Mediterranean cooking. Due to health caution and clarity of origin, French consumers increasingly prefer shrimp products labeled in a transparent manner and free of antibiotics.
Germany Shrimp Market
Sustainability is becoming increasingly important in the German shrimp market as consumers choose products that are ethically sourced and certified by the environment. To meet the demand for organic and ASC shrimp, Edeka and Rewe fortified their alliances with approved suppliers in 2024. For pasta dishes and stir-fries, German consumers prefer frozen, peeled shrimp. Shrimp is one of the few seafood dishes that is still growing despite the strong vegetarian trend, especially among flexitarian and protein-conscious consumers.
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Shrimp Market Drivers
Growing Interest in Diets High in Protein
Development of Techniques for Ecological Aquaculture
Shrimp Market Restraints
Diseases of Shrimp Farms
Ethical and Environmental Issues
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Vertically integrated companies such as Thai Union and Minh Phu Seafood dominate the competitive shrimp market. A few strategies are investing in disease-resistant broodstock, increasing processing capacity, and obtaining sustainability certifications. High-quality feed and backward integration are given top priority by Indian companies such as Avanti Feeds. Ecuadorian companies give zero-antibiotic certification top priority when exporting luxury goods. To improve distribution in North America and Europe, strategic partnerships with retail and QSR chains are also typical.
Top Player’s Company Profile
Recent Developments in Shrimp Market
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
As per SkyQuest analysis, structural changes have been occurring in the global shrimp market and they are being driven by sustainability standards, smart aquaculture, and increasing consumer demand. While farmed shrimp dominates the market, Penaeus vannamei being the most popular species used in the world, because of its reliable supply and production potential. Wild shrimp and freshwater shrimp species are garnering popularity in high-end and regional specialty markets. There have been strong advancements in disease management, adopting sustainable practices and using digital agricultural tools for greater transparency and increased production. Although environmental issues and disease outbreaks are still a concern, both new and returning players are leveraging technology and vertical integration for value-added products to manage these issues. The ongoing increase in demand from developed and emerging economy markets means continued and stronger growth for shrimp.
| Report Metric | Details |
|---|---|
| Market size value in 2024 | USD 79.59 Billion |
| Market size value in 2033 | USD 131.08 Billion |
| Growth Rate | 5.7% |
| Base year | 2024 |
| Forecast period | 2026-2033 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
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| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
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| Customization scope | Free report customization with purchase. Customization includes:-
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Table Of Content
Executive Summary
Market overview
Parent Market Analysis
Market overview
Market size
KEY MARKET INSIGHTS
COVID IMPACT
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
Methodology
For the Shrimp Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Shrimp Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
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With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Shrimp Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
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