Global Shrimp Market Insights 2025-2033| Growth & Opportunity Analysis

Global Shrimp Market Size and Share Analysis - Growth Trends and Forecast Report 2025-2033

Description

The global shrimp market was valued at USD 68.84 billion in 2024 and is expected to reach USD 102.48 billion by 2033, growing at a CAGR of 4.52% from 2025 to 2033. Market growth is driven by increasing seafood consumption, rising health awareness, and advancements in aquaculture technologies. The expanding demand for frozen and processed shrimp further contributes to the market's global growth trajectory.

Table of Contents

Global Shrimp Market Trends & Summary
Market Outlook and Nutritional Analysis
Growth Drivers
Key Challenges
Major Shrimp Species Overview
Shrimp Farming Industry Insights
Market Segmentation Analysis
Country-Level Analysis
Key Player Analysis
Recent Developments and Press Releases

Global Shrimp Market Trends & Summary

Shrimp continues to be a highly popular seafood worldwide due to its high protein content, low calorie profile, and health benefits. The market has expanded steadily due to changing consumer lifestyles, shifting dietary preferences, and increasing urbanization.

Market Outlook and Nutritional Analysis

Shrimp offers numerous health benefits due to its nutrient-rich profile, including omega-3 fatty acids, iodine, vitamin B12, and astaxanthin. It supports cardiovascular health, brain function, and immunity while also being a lean source of protein.

Growth Drivers in the Global Shrimp Market

1. Rising Demand for High-Protein Seafood:

Shrimp consumption is surging due to its nutritional profile and its popularity in global cuisines.
Consumers seeking alternatives to red meat are driving shrimp sales.
Press Release (June 2023): Skretting introduced "Elevia," a next-generation shrimp feed enhancing larval health and improving hatchery efficiency.

2. Expansion of Shrimp Aquaculture:

Technological advancements like biofloc systems, RAS, and disease management techniques have revolutionized shrimp farming.
Press Release (Dec 2024): Ace Aquatec launched a humane stunning system for shrimp, adopted by a Thai farm with support from the Shrimp Welfare Project.

3. Increased Demand for Value-Added Shrimp:

Developed markets favor convenient formats like breaded, cooked, and frozen shrimp.
Press Release (Feb 2025): Labeyrie Fine Foods doubled cooked shrimp production to 18,000 metric tons at its Delpierre unit.

Key Challenges in the Global Shrimp Market

1. Environmental and Sustainability Issues:

Aquaculture practices have led to mangrove destruction, water pollution, and antibiotic overuse.
Certifications such as ASC and MSC are gaining traction among eco-conscious consumers.

2. Supply Chain and Trade Disruptions:

Climate volatility, trade restrictions, and rising costs in logistics affect supply reliability.
Countries face food safety regulations that restrict exports to premium markets like the US and EU.

Major Shrimp Species Overview

1. Giant Tiger Prawn (Penaeus monodon): Up to 14 inches; known for flavor and size; cultivated in Asia and Australia.

2. Giant Freshwater Prawn (M. rosenbergii): Up to 12 inches; popular in Asia and Latin America.

3. Whiteleg Shrimp (L. vannamei): Up to 9 inches; preferred in aquaculture for fast growth and disease resistance.

Shrimp Farming Industry Insights

Leading producers: India, Ecuador, Vietnam, Thailand, Indonesia.
Emphasis on disease control, feed optimization, and sustainability.
Press Release: CIBA (India) launched precision shrimp farming technology to combat disease, reduce costs, and address global warming.
Union Budget 2025 (India): Raised KCC limit to INR 5 lakh to enhance credit access for shrimp farmers.

Market Segmentation Analysis

By Species:

L. vannamei
P. monodon
M. rosenbergii
Others

By Size Category:

<15, 15-20, 21-25, 26-30, 31-40, 41-50, 51-60, 61-70, >70

By Product Form:

Breaded, Cooked, Peeled, Green/Head-off, Green/Head-on, Other Forms

Country-Level Analysis

United States:

High demand for ready-to-eat shrimp in retail and restaurants.
Press Release (April 2023): CP Foods opened "Homegrown Shrimp USA," a sustainable shrimp farm in Florida.

Italy:

Strong demand for premium shrimp like P. monodon.
Press Release (March 2022): Lisaqua raised €4.9M to build France’s first land-based shrimp farm.

China:

Largest producer and importer of shrimp.
Press Release (Feb 2025): China overtook the US with $834M in shrimp imports from Vietnam.

UAE:

Demand driven by hospitality and expat population.
Press Release (Jan 2025): Al Islami Foods launched antibiotic-free Extra Large Shrimps catering to high-end consumers.

Key Player Analysis

Avanti Feeds Ltd.