Shrimps are decapod crustaceans that are abundantly available at extremely low prices and look similar to prawns. Many shrimps have edible muscular tails, and they are widely caught and farmed for human consumption. Shrimp are not only delicious but they are also high in iron, calcium, sodium, phosphorus, zinc, magnesium, and potassium, as well as vitamins A, E, and B6.

Shrimp Market Size is expected to reach $54.6 billion by 2027 at a CAGR of 9.2% from 2021 to 2027.

Top Findings Of The Research

The global shrimp market was valued at $31.6 billion in 2019, and is projected to reach $54.6 billion by 2027, registering a CAGR of 9.2%.
Asia-Pacific was the highest revenue contributor, accounting for $11.0 billion in 2019, and is estimated to reach $20.5 billion by 2027, with a CAGR of 10.3%.
By type, the white segment dominated the market, with $10.8 billion in 2019, and is expected to reach $20.3 billion by 2027, at a CAGR of 10.4% during the forecast period.
On the basis of source, the cold water segment led the market, garnering $17.3 billion in 2019, and is estimated to reach $31.2 billion by 2027, at a CAGR of 9.8% during the forecast period.
In Asia-Pacific, China was the highest revenue contributor with $2.8 billion in 2019, and is estimated to reach $5.1 billion by 2027, registering a CAGR of 10.0% .
Top Players Featuring:

Aqua Star Corp
Mazzetta Company LLC.
Thai Union Group
Nordic Seafood A/S
Surapon Foods
Clearwater Seafoods Inc.
Various types of shrimps available in the market for human consumption include red cherry, blue velvet, black tiger, rock, bumblebee, crystal, cardinal, and amano shrimps.

One of the major factors and shrimp market trends driving the growth of the global market is rise in demand for seafood products. Shift in food habits toward consumption of healthier food products, such as seafood, which is regarded as rich source of animal proteins, is expected to drive growth of the global market during the forecast period. Furthermore, improved taste and increased marketing levels are expected to offer remunerative opportunities for market players to capitalize during the forecast period.

However, high cost of processing and stringent government regulations governing shrimp farming, import, and export may have a negative impact on the shrimp market growth. Despite these challenges, with robust growth in the food processing and agriculture industries, market players have the opportunity to expand further.