Market Overview

The global Shrimps Market continues to witness strong and steady growth, driven by rising consumer preference for nutrient-rich seafood and expanding aquaculture production across major producing countries. The market, valued at nearly USD 48 billion in 2024, is projected to reach around USD 90 billion by 2032, registering an impressive CAGR of more than 8% during the forecast period. Shrimps remain one of the most traded seafood products globally due to their versatility, flavor, and health benefits.

A major shift toward shrimp aquaculture is reshaping the industry. Technological improvements in breeding, feed efficiency, biosecurity, and water management are enabling higher yields and better disease resistance. Meanwhile, rising awareness around sustainability, traceability, and ethical sourcing is encouraging producers to adopt globally recognized certification practices and environmentally responsible farming models.

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Market Segmentation

The shrimps market is segmented into product type, species, application, and distribution channel:

• By Product Type: Fresh shrimp, frozen shrimp, canned shrimp, breaded and value-added variants, dehydrated formats, and cooked/precooked options. Fresh shrimp continues to dominate due to consumer preference for quality, texture, and taste.

• By Species: Key species include Whiteleg (Vannamei), Black Tiger shrimp, Northern Pink shrimp, Brown Rock shrimp, and others. Among these, Whiteleg shrimp accounts for the largest share owing to its adaptability to diverse farming environments, lower mortality rates, and rapid growth cycle.

• By Application: Food consumption represents the largest segment, followed by usage in pharmaceuticals, cosmetics, biotechnology, and industrial applications.

• By Distribution Channel: Retail stores, online marketplaces, and direct sales channels play a significant role in delivering shrimp to end-users. E-commerce is rapidly expanding in this segment due to convenience and improved cold-chain logistics.

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Regional Insights

Asia–Pacific remains the fastest-growing and highest-producing region globally. Countries such as India, China, Vietnam, Thailand, and Indonesia contribute significantly to global aquaculture output. Rising disposable incomes, dietary diversification, and improvements in farming infrastructure are contributing to regional market expansion.

Ecuador continues to strengthen its position as a major exporter due to high-quality production standards and its strategic trade links. Meanwhile, markets in Europe and North America show steady demand, though trade fluctuations and regulatory considerations influence import dynamics. China has emerged as one of the strongest importers, enhancing global supply chain activity.

Market Highlights

• Strong market growth driven by rising global shrimp consumption.

• Dominance of aquaculture over wild-caught shrimp.

• Growing adoption of sustainability certifications and traceability.

• Increasing investments in value-added and ready-to-cook shrimp products.

• Changing global trade dynamics with rising demand from Asian markets.

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Competitive Landscape

Leading Shrimps key players include:

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 is set for substantial long-term expansion, supported by evolving consumer preferences, strong aquaculture capacity, and continuous innovation in farming and processing. While disease outbreaks, environmental concerns, and regulatory challenges remain key barriers, stakeholders focusing on technological advancement, ethical sourcing, and sustainable practices are well-positioned to capture future growth opportunities.

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