Notifications
8 minutes, 39 seconds
-216 Views 0 Comments 0 Likes 0 Reviews
Shrimp Market Growth According to projections, the market will be worth approximately USD 69.58 billion. In 2035, it is anticipated to grow even further, reaching almost USD 154.35 billion. This amounts to a 7.9% annual growth rate over the course of the ten years.
Shrimp are small invertebrates found in marine ecosystems worldwide and play a vital role in the marine food web. Larger shrimp species are commercially harvested for human consumption, while some species are cultivated through aquaculture in tropical regions. As omnivores, shrimp feed on a diverse range of plant and animal matter. However, their small size and abundance make them a natural prey for various predators.
Request for A Sample of This Research Report https://wemarketresearch.com/reports/request-free-sample-pdf/shrimp-market/683
Growing consumer knowledge of the nutritional advantages of shrimp and growing health consciousness are the main factors propelling the global shrimp industry. Additionally, the demand for shrimp in the food and beverage (F&B) sector, where it is utilized to make a variety of distinctive seafood meals, is increasing due to rising disposable incomes and increased consumer expenditure, especially in emerging economies. In addition, shrimp shells have antibacterial and anti-aging qualities, as well as carotenoids that improve skin texture, prevent hair loss, and shield the skin from UV radiation. Because of these qualities, shrimp are a crucial component of many cosmetic and personal care products, like as shampoos and lotions, that are produced in the pharmaceutical business.
Rising Health Awareness: Shrimp is a low-fat, high-protein seafood option rich in essential nutrients such as omega-3 fatty acids and antioxidants.
Expansion of Aquaculture: Technological advancements in shrimp farming, including sustainable aquaculture practices, have boosted global production.
Increasing Popularity of Seafood-Based Diets: The growing preference for seafood in various cuisines, including Asian, Mediterranean, and Western diets, has positively impacted shrimp consumption.
Trade Liberalization and Export Growth: The ease of international trade and reduced tariffs on seafood exports have facilitated market expansion.
Disease Outbreaks: Shrimp farms are prone to diseases like Early Mortality Syndrome (EMS), which can significantly impact production.
Environmental Concerns: Unsustainable farming practices, including mangrove deforestation and water pollution, have raised concerns over the ecological impact of shrimp farming.
Fluctuating Prices: Shrimp prices are subject to variations due to weather conditions, disease outbreaks, and international trade policies.
Regulatory and Trade Barriers: Strict import regulations, quality standards, and food safety norms can hinder market entry for some producers.
Get Customized Report https://wemarketresearch.com/customization/shrimp-market/683
On the basis of source
On the basis of form
Market Regional Analysis:
With a stake of over 50% in the shrimp industry in 2021, Asia-Pacific controlled the worldwide shrimp market. It is expected to continue to dominate and grow at a strong CAGR of 4.9% throughout the forecast period. Asia Pacific is a major region that ranks in the top three for shrimp production, imports, and exports globally.
Shrimp is a popular seafood rich in essential nutrients like calcium, iodine, vitamin D, and omega-3s, offering benefits for bone, brain, and heart health while aiding weight management.
Global demand is rising, especially in India and China, due to expanding retail chains and higher disposable incomes. However, challenges such as limited aquafeed, environmental concerns, and seed supply issues may hinder market growth.
Technological Advancements: Innovations in aquaculture, including bioflick technology and genetic improvements, will enhance production efficiency.
Sustainability Initiatives: With increasing focus on eco-friendly shrimp farming, certifications like ASC (Aquaculture Stewardship Council) and Best Aquaculture Practices (BAP) are gaining prominence.
Evolving Consumer Preferences: The demand for organic and antibiotic-free shrimp is expected to rise, shaping future market trends.
Expansion of E-commerce and Retail Chains: The growth of online seafood retailing and supermarkets stocking frozen and value-added shrimp products will boost consumer access and sales.
Q1. How much will the shrimp market be worth between 2025 and 2035?
Q2. What is the shrimp market's CAGR?
Q3. How can I obtain a shrimp market sample report?
Q4. What are the leading businesses in the shrimp sector?
Q5. What are the shrimp market's segments?
Q6. In the Shrimp Market report, which base year is used?
Q7. How will the market be shaped going forward by the main current trends?
Q8. In the global shrimp market, which market has the largest market share?
Q9. What influences the shrimp market?
The shrimp market presents lucrative opportunities for producers, traders, and investors worldwide. However, industry stakeholders must address environmental concerns, disease management, and regulatory compliance to sustain growth. With the integration of sustainable practices and technological innovations, the global shrimp industry is poised for a promising future.
Get a Purchase of This Report https://wemarketresearch.com/purchase/shrimp-market/683?license=single
WE MARKET RESEARCH is an established market analytics and research firm with a domain experience sprawling across different industries. We have been working on multi-county market studies right from our inception. Over the time, from our existence, we have gained laurels for our deep-rooted market studies and insightful analysis of different markets.
Mr. Robbin Joseph
Corporate Sales, USA
We Market Research
USA: +1-724-618-3925
Websites: https://wemarketresearch.com/
Email: sales@wemarketresearch.com
