Shrimp Market: Share, Size, Growth, Opportunity And Forecast To 2025

 

Shrimp is one of the most widely consumed types of seafood worldwide. They are members of the Malacostraca, the largest class of crustaceans, and have a laterally compressed and elongated body with long antennae and legs. They live in both shallow and deep water, as well as freshwater lakes and streams. They're high in calcium, iodine, vitamin D, vitamin B3, zinc, protein, and omega-3 fatty acids while being low in saturated fat. They provide numerous health benefits such as improving bone and brain health, aiding weight loss, lowering the risks of cardiovascular disease, relieving eye fatigue, and lowering blood pressure, which has resulted in an increase in their global demand.

Market Forces:

The global Shrimp Market has been expanding as manufacturers add several value-added products to their product lines. Shrimp Market products are becoming increasingly popular in countries such as the United States, Europe, and Japan, which has helped to broaden the consumer base.

Shrimp consumption has been steadily increasing, particularly in countries such as India and China, as a result of the region's growing organized retail chains. Furthermore, because demand for seafood products is income elastic, an increase in the number of consumers with higher disposable incomes is expected to have a positive impact on Shrimp Market.

 The governments of major producing countries have identified the seafood sector as a high-priority industry, which they are currently promoting with a variety of tax breaks and incentives. In India, for example, government agencies such as the MPEDA (Marine Products Exports Development Authority) are promoting shrimp culture through a cluster farming approach. Similar initiatives are being implemented in Vietnam, Thailand, and China, with the goal of attracting new investors to the industry.

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 are major players in the global shrimp market.