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Shrimp Market Trends

Report ID: GMI7166
Published Date: Oct 2023
Report Format: PDF

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Shrimp Market Trends

The growing emphasis on sustainability and responsible sourcing procedures in the shrimp business is being pushed by growing environmental and ethical concerns. Consumers are seeking ecologically friendly shrimp products, and industry players are implementing aquaculture innovations such as closed-loop systems and improved feed formulations to lower the ecological imprint of shrimp farming.

Authors: Kiran Pulidindi, Manish Mohanan

Frequently Asked Questions (FAQ) :

The market size of shrimp was worth USD 72.6 billion in 2023 and is estimated to reach USD 130.05 billion by 2032, due to wide usage in multiple cuisines on account of its mild flavor and adaptability.

Demand for white shrimp is expected to reach USD 43.67 billion in 2022 owing to the rising advances in aquaculture technology.

The frozen form segment garnered 56.5% of the shrimp market share in 2022 and is expected to grow at lucrative pace by 2032, due to its rising popularity as convenient and quick seafood choice.

Asia Pacific shrimp market size exceeded USD 26.56 Billion in 2022 and is anticipated to expand at significant pace from 2023 to 2032, owing to shifting dietary tastes, rising disposable incomes, and the expanding middle-class population.