The Shrimps Industry size was valued at USD 48.16 Billion in 2024 and the total Shrimps revenue is expected to grow at a CAGR of 8.2% from 2025 to 2032, reaching nearly USD 90.48 Billion.
Market Overview
Shrimps are small, decapod crustaceans belonging to the infraorder Caridea. They are found in various marine and freshwater habitats around the world. Shrimps are an important part of the aquatic food chain, serving as prey for larger fish, birds, and marine mammals. They are also consumed by humans and are popular in many cuisines worldwide, often served cooked, grilled, fried, or as ingredients in various dishes such as shrimp scampi, shrimp cocktail, or shrimp stir-fry. Shrimps are prized for their delicate flavor and tender texture. Shrimp is one of the most popular seafood items worldwide, with high demand in countries like the United States, Japan, China, and various European nations.
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Market Dynamics
Shift towards Aquaculture: Accelerating the Pace of Change
As global consumers and retailers grow increasingly concerned about the environmental and social issues surrounding the shrimp industry—including water pollution, destruction of coastal habitats, and human and labor rights abuses—the push for product traceability is intensifying. The growth of shrimp aquaculture has been a significant driver of the Shrimps market. With wild shrimp stocks facing depletion and environmental concerns, aquaculture has emerged as a sustainable solution to meet the growing demand for shrimp. Technological advancements in aquaculture practices, including improved breeding techniques, disease management, and feed formulation, have contributed to increased production and efficiency in shrimp farming.
Preference for Farmed Shrimps Drives Long-Term Market Opportunities
Shrimps production is amongst the most important divisions of the worldwide seafood business, with a market value of $12 billion to $15 billion. Shrimps farming, commonly known as Shrimps aquaculture, supplies slightly more than half of the world's Shrimps supply. It occurs in over 60 nations globally, although Asia accounts for more than 80% of output. Latin America is the world's second-largest producer, contributing for 16% of overall output, with Brazil and Ecuador supplying significant volumes.
Environmental Concerns to restraint Shrimps Market growth
Shrimp farming often leads to environmental degradation, including habitat destruction, water pollution, and disruption of ecosystems. Efforts to mitigate these environmental impacts increase production costs and regulatory burdens for shrimp producers. Shrimp farms are vulnerable to disease outbreaks, which cause significant losses in production and revenue. Diseases such as Early Mortality Syndrome (EMS) and White Spot Syndrome Virus (WSSV) devastate shrimp populations, leading to economic losses for farmers and disruptions in supply chains. Climate change poses risks to the shrimp industry, including temperature fluctuations, extreme weather events, and sea level rise.
Segmentation Analysis
By Product Type
Fresh Shrimp
Frozen Shrimp
Canned Shrimp
Breaded or Value-Added Shrimp Products
Dried or Dehydrated Shrimp
Cooked or Precooked Shrimp
By Species
Whiteleg Shrimp
Black Tiger Shrimp
Pacific White Shrimp
Northern Pink Shrimp
Brown Shrimp Rock Shrimp
By Application
Food
Pharmaceutical
Cosmetics
Industrial
Biotechnology
Other
By Distribution Channel
Retail Stores
Online Retail Platforms
Direct Sales
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Regional Insight
The Asia Pacific region is home to some of the world's largest consumers of shrimp, including China, Japan, Vietnam, Thailand, and Indonesia. Rising populations, increasing disposable incomes, and changing dietary preferences toward seafood contribute to the growing demand for shrimp in the region, which significantly boosts the Asia Pacific Shrimps Market growth. Trade agreements and liberalization efforts in the Asia Pacific region have facilitated the movement of shrimp products across borders. Bilateral and multilateral trade agreements, such as the Association of Southeast Asian Nations (ASEAN) Free Trade Area and the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), have reduced tariffs and trade barriers, promoting regional integration and market access for shrimp exporters.
Competitor Analysis
Asia-Pacific:
1. Thai Union Group (Thailand)
2. Charoen Pokphand Foods (Thailand)
3. Minh Phu Seafood Corporation (Vietnam)
4. Nissui Group (Japan)
5. Zhanjiang Guolian Aquatic Products (China)
6. Godrej Agrovet Limited (India)
7. Devi Seafoods (India)
North America:
8. Clearwater Seafoods (Canada)
9. High Liner Foods (Canada)
10. Red Chamber Group (Canada)
11. CenSea (United States)
12. American Seafoods (United States)
13. Pacific Seafood (United States)
14. SeaPak Shrimp & Seafood Co. (United States)
Europe:
15. Royal Greenland (Denmark)
16. Pescanova (Spain)
17. Lerøy Seafood Group (Norway)
South America:
18. Omarsa (Ecuador)
19. Songa (Ecuador)
20. Camanor Produtos Marinhos (Brazil)
21. Camanchaca (Chile)
22. Australis Seafoods (Chile)
Conclusion
The global shrimps market stands at a pivotal point, driven by rising health awareness, expanding aquaculture practices, and growing demand for sustainable seafood. With revenues set to nearly double by 2032, the market offers considerable growth opportunities across premium, organic, and value-added segments. Continued innovation in farming, processing, and distribution will be crucial in addressing market challenges and securing long-term profitability in an increasingly sustainability-conscious landscape.
