Summary

The global shrimp market reached a value of US$ 62.8 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 84.2 Billion by 2027, exhibiting a CAGR of 4.8% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic. These insights are included in the report as a major market contributor. Shrimp is one of the most common and popular types of seafood consumed worldwide. Belonging to the largest class of crustaceans called Malacostraca, they have a laterally compressed and elongated body with long antennae and legs. They can be found in both shallow and deep water as well as in freshwater lakes and streams. They are a rich source of calcium, iodine, vitamin D, vitamin B3, zinc, protein and omega-3 fatty acids but low in saturated fats. They provide numerous health benefits such as improving bone and brain health, aiding weight loss, reducing the risks of cardiovascular disease, relieving eye fatigue and lowering blood pressure which have led to a rise in their overall demand across the globe. Market Drivers: The global market has been witnessing positive growth as manufacturers are adding several value-added products to their product lines. These products are gaining popularity in several countries such as the United States, Europe and Japan which has helped in expanding the consumer base. Shrimp consumption has been growing continuously, especially in countries like India and China, on account of rising organized retail chains across the region. In addition, since the demand for seafood products is income elastic, a continuous increase in the number of consumers with higher disposable incomes is expected to have a positive impact on the growth of the market. The governments of major producing countries have acknowledged the seafood sector as a high priority industry and are currently promoting it with several fiscal reliefs and incentives. For instance, government bodies in India, such as MPEDA (Marine Products Exports Development Authority), are supporting shrimp culture through cluster farming approach. Similar initiatives are also being taken in Vietnam, Thailand and China which are expected to attract new investors to the industry. The market has traditionally been an export-oriented market in untapped markets, such as India, with only a small share of the total production consumed domestically. Over the last few years, however, the domestic market in these countries has started flourishing. The demand, which was primarily focused in big cities until a few years ago, is now spreading to tier-II and tier-III cities and the domestic consumption is expected to increase continuously over the next few years. Key Market Segmentation: IMARC Group provides an analysis of the key trends in each sub-segment of the global shrimp market, along with forecasts at the global and regional level from 2022-2027. Our report has categorized the market based on species, size and distribution channel. Breakup by Species: Penaeus vannamei Penaeus monodon Macrobrachium rosenbergii Others Penaeus vannamei is currently the most popular species. It is farmed in numerous nations including the United States, Vietnam, Mexico, India, Brazil, China and Thailand. Breakup by Size: <21 21-25 26-30 31-40 41-50 51-60 61-70 >70 Breakup by Distribution Channel: Hypermarkets and Supermarkets Convenience Stores Hotels and Restaurants Online Sales Others Regional Insights: Major Producing Regions: China India Indonesia Vietnam Thailand Ecuador Others China accounts for the majority of the production on account of increasing government support for improving product quality and promoting sustainable farming practices. Major Consuming Regions: United States China Europe Japan Others Based on consumption, China represents the largest market as shrimp is an integral part of Chinese cuisine and is widely used in noodle soup and bonnet (dumpling). Competitive Landscape: The competitive landscape of the market has also been analyzed with the detailed profiles of the key player operating in the market. Key Questions Answered in This Report 1. What is the size of the global shrimp market? 2. What are the key factors driving the global shrimp market? 3. What has been the impact of COVID-19 on the global shrimp market? 4. What is the breakup of the global shrimp market based on the species? 5. What is the breakup of the global shrimp market based on the size? 6. What are the key producing regions in the global shrimp market? 7. What are the key consuming regions in the global shrimp market?

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Table of Contents

1 Preface 2 Scope and Methodology 2.1 Objectives of the Study 2.2 Stakeholders 2.3 Data Sources 2.3.1 Primary Sources 2.3.2 Secondary Sources 2.4 Market Estimation 2.4.1 Bottom-Up Approach 2.4.2 Top-Down Approach 2.5 Forecasting Methodology 3 Executive Summary 4 Introduction 4.1 Overview 4.2 Key Industry Trends 5 Global Shrimp Market 5.1 Market Overview 5.2 Market Performance 5.2.1 Volume Trends 5.2.2 Value Trends 5.3 Market Breakup by Environment 5.4 Market Forecast 6 COVID-19 Impact on the Industry 7 Global Shrimp Market by Environment 7.1 Farmed Shrimp 7.1.1 Market Overview 7.1.2 Market Performance 7.1.2.1 Volume Trends 7.1.2.2 Value Trends 7.1.3 Major Shrimp Producing Countries 7.1.4 Major Shrimp Consuming Countries 7.1.5 Market Breakup by Species 7.1.5.1 Penaeus Vannamei 7.1.5.2 Penaeus Monodon 7.1.5.3 Macrobrachium Rosenbergii 7.1.5.4 Others 7.1.6 Market Breakup by Shrimp Size 7.1.7 Exports 7.1.8 Market Forecast 7.1.8.1 Volume Trends 7.1.8.2 Value Trends 7.2 Wild Shrimp 7.2.1 Market Overview 7.2.2 Market Performance 7.2.2.1 Volume Trends 7.2.2.2 Value Trends 8 Global Shrimp Industry Insights 8.1 Evolution of the Shrimp Industry 8.2 Shrimp as a Part of the Seafood Industry 8.3 Shrimp Products- Block-frozen Vs IQF 8.4 Shrimp Industry: Value Chain 8.5 Broodstock Sourcing 8.5.1 Regional Insights 8.5.2 Sourcing Challenges 8.6 Shrimp Feed Production 8.6.1 Regional Insights 8.6.2 Shrimp Feed Manufacturing Process 8.6.3 Major Feed Types Produced (Starter, Finisher and Grower) 8.6.4 Major Ingredients and Additives Used in the Shrimp Feed Industry 8.6.5 Key Manufacturers 8.6.6 Competitive Landscape 8.6.7 Key Success Factors in the Shrimp Feed Industry 8.7 Shrimp Farming 8.7.1 Regional Insights 8.7.2 Shrimp Farming Process Flow 8.7.3 Cropping Patterns in Major Markets 8.7.4 Role of Agents in the Shrimp Farming Industry 8.7.5 Types of Contracts in the Shrimp Farming Industry 8.7.6 Competitiveness Among the Major Markets 8.7.7 Impact of Macro and Micro Economic Environment 8.7.8 Government Support and Subsidies 8.7.9 Competitive Landscape 8.8 Shrimp Processing 8.8.1 Regional Insights 8.8.2 Primary Processing and Large-Scale Industrial Shrimp Processing 8.8.3 Role of Agents in the Shrimp Processing Industry 8.8.4 Types of Contracts in the Shrimp Processing Industry 8.8.5 Potential Markets for Processed Shrimp 8.8.6 Competitiveness Among the Major Markets 8.8.7 Impact of Macro and Micro Economic Environment 8.8.8 Government Support and Subsidies 8.8.9 Competitive Landscape 8.9 Value Added Shrimp 8.9.1 Types of Value-Added Products 8.9.2 Processing Requirements 8.9.3 Infrastructure and Skill Requirements 8.9.4 Key Market Drivers and Challenges 8.10 Shrimp Exports 8.10.1 Regional Insights 8.10.2 Competitiveness Among the Major Exporting Countries 8.10.3 Value Added Shrimp Exports 8.11 Price and Margin Analysis 8.11.1 Shrimp Feed Price Structure 8.11.2 Shrimp Feed Price Trends 8.11.3 Shrimp Feed: Revenues and Profit Margins 8.11.4 Farmed Shrimp Price Structure 8.11.5 Farmed Shrimp Price Trends 8.11.6 Shrimp Farming: Revenues and Profit Margins 8.11.7 Processed Shrimp Price Structure 8.11.8 Processed Shrimp Price Trends 8.11.9 Shrimp Processing: Revenues and Profit Margins 8.12 Shrimp Industry SWOT Analysis 8.12.1 Overview 8.12.2 Strengths 8.12.3 Weaknesses 8.12.4 Opportunities 8.12.5 Threats 8.13 Shrimp Industry Porters Five Forces Analysis 8.13.1 Overview 8.13.2 Bargaining Power of Buyers 8.13.3 Bargaining Power of Suppliers 8.13.4 Degree of Rivalry 8.13.5 Threat of New Entrants 8.13.6 Threat of Substitutes 9 Major Farmed Shrimp Producing Regions 9.1 China 9.1.1 Market Trends 9.1.2 Market Forecast 9.2 India 9.2.1 Market Trends 9.2.2 Market Forecast 9.3 Indonesia 9.3.1 Market Trends 9.3.2 Market Forecast 9.4 Vietnam 9.4.1 Market Trends 9.4.2 Market Forecast 9.5 Thailand 9.5.1 Market Trends 9.5.2 Market Forecast 9.6 Ecuador 9.6.1 Market Trends 9.6.2 Market Forecast 9.7 Others 9.7.1 Market Trends 9.7.2 Market Forecast 10 Major Farmed Shrimp Consuming Regions 10.1 United States 10.1.1 Market Trends 10.1.2 Market Forecast 10.2 China 10.2.1 Market Trends 10.2.2 Market Forecast 10.3 Europe 10.3.1 Market Trends 10.3.2 Market Forecast 10.4 Japan 10.4.1 Market Trends 10.4.2 Market Forecast 10.5 Others 10.5.1 Market Trends 10.5.2 Market Forecast 11 Farmed Shrimp Market Breakup by Species 11.1 Penaeus Vannamei 11.1.1 Market Trends 11.1.2 Market Forecast 11.2 Penaeus Monodon 11.2.1 Market Trends 11.2.2 Market Forecast 11.3 Macrobrachium Rosenbergii 11.3.1 Market Trends 11.3.2 Market Forecast 11.4 Others 11.4.1 Market Trends 11.4.2 Market Forecast 12 Farmed Shrimp Market Breakup by Shrimp Size 12.1 Size <21 12.1.1 Market Trends 12.1.2 Market Forecast 12.2 Size 21-25 12.2.1 Market Trends 12.2.2 Market Forecast 12.3 Size 26-30 12.3.1 Market Trends 12.3.2 Market Forecast 12.4 Size 31-40 12.4.1 Market Trends 12.4.2 Market Forecast 12.5 Size 41-50 12.5.1 Market Trends 12.5.2 Market Forecast 12.6 Size 51-60 12.6.1 Market Trends 12.6.2 Market Forecast 12.7 Size 61-70 12.7.1 Market Trends 12.7.2 Market Forecast 12.8 Size >70 12.8.1 Market Trends 12.8.2 Market Forecast 13 Farmed Shrimp Market Breakup by Distribution Channel 13.1 Hypermarkets and Supermarkets 13.1.1 Market Trends 13.1.2 Market Forecast 13.2 Convenience Stores 13.2.1 Market Trends 13.2.2 Market Forecast 13.3 Hotels and Restraunts 13.3.1 Market Trends 13.3.2 Market Forecast 13.4 Online Sales 13.4.1 Market Trends 13.4.2 Market Forecast 13.5 Others 13.5.1 Market Trends 13.5.2 Market Forecast 14 Market for Value Added Shrimp Products 14.1 Market Overview 14.2 Market Performance 14.3 Market Breakup by Region 14.4 Market Breakup by Type 14.5 Market Forecast 15 Imports of Processed Shrimps 15.1 Peeled 15.2 Shell-On 15.3 Cooked 15.4 Breaded 16 Competitive Landscape 16.1 Competitive Structure 16.2 Key Players 17 Shrimp Processing 17.1 Product Overview 17.2 Detailed Process Flow 17.3 Various Types of Unit Operations Involved 17.4 Mass Balance and Raw Material Requirements 18 Project Details, Requirements and Costs Involved 18.1 Land Requirements and Expenditures 18.2 Construction Requirements and Expenditures 18.3 Plant Machinery 18.4 Machinery Pictures 18.5 Raw Material Requirements and Expenditures 18.6 Raw Material and Final Product Pictures 18.7 Packaging Requirements and Expenditures 18.8 Transportation Requirements and Expenditures 18.9 Utility Requirements and Expenditures 18.10 Manpower Requirements and Expenditures 18.11 Other Capital Investments 19 Loans and Financial Assistance 20 Project Economics 20.1 Capital Cost of the Project 20.2 Techno-Economic Parameters 20.3 Product Pricing and Margins Across Various Levels of the Supply Chain 20.4 Taxation and Depreciation 20.5 Income Projections 20.6 Expenditure Projections 20.7 Financial Analysis 20.8 Profit Analysis 21 Key Player Profiles