The Global Shrimp Market: Overview
The Global Shrimp Market is valued at around USD 65.9 Billion in 2022 and is expected to reach USD 117.2 Billion by 2030, registering a CAGR of 3.5% over the forecast period. Omega-3 fatty acids, which are abundant in shrimp, can help people lose weight, lower blood pressure, improve bone and brain health, relieve eye fatigue, and lower their chance of developing cardiovascular diseases. It is also high in protein and very low in fat.
The Global Shrimp Market - Growth Factor
The growing health consciousness and consumer awareness of the many advantages of eating shrimp as a nutritious meal are the main factors driving the global shrimp market. Additionally, the market expansion is being fuelled by the growing use of shrimp in the food and beverage (F&B) industry to prepare a variety of unique seafood meals as a result of increased disposable incomes and consumer spending power, particularly in emerging economies. In addition, shrimp shells have anti-aging and antimicrobial properties as well as carotenoids that help to protect skin from ultraviolet (UV) rays, improve skin texture, and lessen hair loss, making them an advantageous ingredient in the pharmaceutical sector's production of a variety of cosmetic and personal care products, such as creams and shampoos.
The Global Shrimp Market Market Trends
Customer demand for shrimp is growing as a result of its high nutritional value and low-fat protein.
In addition, as a result of rapid economic expansion and rising income, consumers are undergoing a ""nutrition transition"" and converting from a diet high in carbohydrates to one higher in proteins.
As a result, shrimp farmers all over the world are implementing improved production techniques that protect the environment, increase year-round shrimp production, and outperform the conventional ones.
The popularity of shrimp as a rich source of omega-3 has increased due to the rise in pescatarians and flexitarians, who have also established the market's growth trend.
The Global Shrimp Market Segmentation
The Global Shrimp Market fragrance concentrates market has been sub-classified into source, from.
On the basis of source, the Global Shrimp Market is bifurcated into:
Cold water
Hot water
On the basis of form, the market is segmented into:
Frozen
Canned
Others
The Global Shrimp Market Regional Analysis
Asia-Pacific dominated the global Shrimp Market, having a share of more than 50% in the shrimp sector in 2021. Over the forecast period, it is anticipated to maintain its dominance and expand at a solid CAGR of 4.9%. In terms of shrimp production, imports, and exports worldwide, Asia Pacific is a significant region that holds the top three spots.
The Global Shrimp Market Key Market players
Global key players of Global Shrimp Market include Thai Union Group PCL; Clearwater Seafoods, Avanti Feeds Limited; High Liner Foods; Surapon Foods Public Company Limited; Mazzetta Company, LLC; Aqua Star; Nordic Seafood A/S; The Waterbase Limited; Wild Oceans, and others.
Report Scope
Global Shrimp Market: Historical Years- 2018-2021
Global Shrimp Market: Forecast Years- 2022-2030
Global Shrimp Market 2022- USD 65.9 Billion
Global Shrimp Market 2030- USD 117.2 Billion
Global Shrimp Market CAGR- 3.5%
