Shrimps are classified as decapod crustaceans that play important roles in the food chain and are an important food source for larger animals ranging from fish to whales. Humans consume the muscular tails of several shrimp that are widely caught and farmed for consumption. Around 20% 0f the species are commercially significant that include Whiteleg, giant tiger prawn, akiami paste shrimp, southern rough shrimp, and others.

High nutritional benefits of shrimp along with increasing applications of chitosan and pigments obtained from shrimp are driving growth of the shrimp market. Moreover, growing consumption of seafood and increasing aquaculture industry are further fuelling growth of the shrimp market. For instance, according to United Nations Food and Agriculture Organization (UN FAO) survey in July 2016, the global per capita seafood consumption increased above 20 kg per person per year.

Market Dynamics

Increasing demand for seafood along with growing aquaculture industry are the major factors, aiding in the market growth. According to the Food and Agriculture Organization of the United States (FAO), global aquaculture production of fish had increased to 44.1 % in 2014 from 42.1% in 2012 of total production. Further, benefits associated with shrimps consumption includes reduced risk of cardiovascular disease, weight management, and improved brain and bone health. These are the factors largely supporting growth of the global shrimp market.

Detailed Segmentation:

Global Shrimp Market, By Source Type:

Cold Water Shrimps

Hot Water Shrimps

Global Shrimp Market, By Species:

Gulf Shrimps

Farmed Whiteleg Shrimps

Banded Coral Shrimps

Giant Tiger Shrimps

Blue Shrimps

Ocean Shrimps

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Major Keyplayers: Pacific Seafood, Morubel nv, Maruha Nichiro Corporation, The Clover Leaf Seafoods Family, Royal Greenland A/S, Rich Products Corporation, Thai Union Group PCL, Marvesta Shrimp Farms, Cargill, Incorporated, and Nippon Suisan Kaisha Ltd.

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