Shrimp Market Insights, Analysis and Outlook By Source Type, By Species, By Form, By End use Industry and By Distribution Channel during the Forecast Period 2022-2030

 

Shrimp 

Due of the species' low cost in comparison to other species like crabs, tuna, salmon, and lobster, the market is anticipated to develop significantly over the next few years. In addition, developing infrastructure in nations like China and India is a key component in the market's expansion. Shrimps, which are also known as prawns in the Asia-Pacific region, are among the most affordable seafood options when it comes to providing protein.

Asia has long been a region where shrimp farming has been a traditional occupation. Around the 1970s, large-scale commercial farming began, primarily to meet the rising protein needs of Western Europe, the US, and Japan. Currently, shrimp farming has become a successful industry worldwide, with production primarily focused in Asia Pacific Region.

According To Coherent Market Insights, Global Shrimp Market Was Valued At US$ 40.88 Billion In 2021 In Terms Of Revenue, Exhibiting A CAGR Of 6.01% During The Forecast Period (2022 To 2030).

Only 350 of the more than 2,000 shrimp species found in the globe are commercially valuable. Only 100 of them make up the yearly shrimp catches around the world. From the equator to the poles, several types of Shrimp are found all around the world.

In recent years, the production of shrimp from wild-harvest fish capture and aquaculture has nearly equaled the former, accounting for 65% of the volume share of the global shrimp market in 2020. In order to maintain the ecological balance, businesses are concentrating on increasing the size of their aquaculture breeding grounds. As a result, it is anticipated that during the projection period, the Shrimp Market share will rise significantly.

Shrimp Market Segmentations-

By Source Type: Cold Water Shrimps, Hot Water Shrimps

By Species: Gulf Shrimps, Farmed Whiteleg Shrimps, Banded Coral Shrimps, Giant Tiger Shrimps, Blue Shrimps, Ocean Shrimps, Royal Red Shrimps

By Form: Frozen, Canned, Peeled, Cooked, Shell-On, Others

By End use Industry: Food, Cosmetics, Pharmaceutical, Biotechnology and Life Sciences, Others

By Distribution Channel: Hypermarket, Supermarket, Convenience Stores, Specialty Stores, Online, Others

Top Manufacturers are amanor, Produtos Marinhos Ltda, Maruha Nichiro Corporation, Aqua Star, Mazzetta Company, Thai Union Group, Rich Products Corporation, Sirena A/S, Clover Leaf Seafoods, L.P., Sagar Grandhi Exports Pvt

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