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The global farmed shrimp market is a dynamic and rapidly evolving sector, crucial to meeting the world’s growing demand for seafood. Valued at USD 45.6 billion in 2023, the market is projected to reach USD 64.9 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 4.00%. This growth is driven by increasing consumer demand for affordable protein, rising disposable incomes in developing nations, and the efficiency of aquaculture compared to wild capture.

However, the market also faces significant challenges, including disease management, environmental sustainability concerns, and volatile pricing. This report provides a comprehensive overview of the key players, market dynamics, and future prospects of the global farmed shrimp industry.

The global farmed shrimp market is a dynamic and rapidly evolving sector, crucial to meeting the world’s growing demand for seafood. Valued at USD 45.6 billion in 2023, the market is projected to reach USD 64.9 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 4.00%. This growth is driven by increasing consumer demand for affordable protein, rising disposable incomes in developing nations, and the efficiency of aquaculture compared to wild capture.

However, the market also faces significant challenges, including disease management, environmental sustainability concerns, and volatile pricing. This report provides a comprehensive overview of the key players, market dynamics, and future prospects of the global farmed shrimp industry.

Key Market Players

The market is characterized by the presence of several large multinational corporations and numerous smaller regional players. The competitive landscape is intense, with companies focusing on expanding their production capacities, improving supply chain efficiency, and investing in sustainable farming practices.

Leading Companies:

• Minh Phu Seafood Corp – One of the largest shrimp exporters in Vietnam, known for its high-quality products and extensive distribution network.
• Thai Union – A global seafood leader with a diverse portfolio, including shrimp products under various brands.
• Santa Priscila – A major player in the Ecuadorian shrimp industry, focusing on sustainable farming practices.
• Expalsa – Specializes in shrimp farming and export in Latin America.
• Zhanjiang Guolian – One of China’s leading aquaculture companies, with a significant focus on shrimp farming.
• Pescanova – A global seafood company with a strong presence in the shrimp market, known for its innovative products.
• Omarsa – An Ecuadorian company with a strong focus on sustainable shrimp farming.
• Songa – A key player in the African shrimp market, particularly in Madagascar.
• Iberconsa – A Spanish company with significant investments in shrimp farming and processing.
• Conarpesa – Specializes in shrimp and seafood distribution in Europe.
• Royal Greenland A/S – A leading supplier of coldwater shrimp and other seafood products.
• ProExpo – A major player in the Asian shrimp market, particularly in India.
• Quoc Viet – A Vietnamese company focused on sustainable shrimp farming.
• Devi Fisheries – An Indian company with a strong presence in the shrimp export market.
• The Liberty Group – A diversified agribusiness company with interests in shrimp farming.
• Nekkanti Sea Foods – One of India’s leading seafood exporters, with a focus on shrimp.

Market Segmentation

By Type

• Whiteleg Shrimp – The most commonly farmed species globally, known for its mild flavor and versatility.
• Giant Tiger Prawn – Known for its large size and strong flavor, popular in Asian markets.
• Akiami Paste Shrimp – Smaller in size, primarily used for paste and processed products.
• Others – Including various regional species tailored to specific markets.

By Application

• Household – Individual consumers purchasing shrimp for home cooking.
• Restaurant & Hotel – The foodservice industry, a major consumer of shrimp products.

Regional Analysis

The global farmed shrimp market is geographically diverse, with key regions including:

• North America (USA, Canada, Mexico) – A mature market with high per capita consumption, particularly in the USA.
• Europe (Germany, UK, France, Russia, Italy, Rest of Europe) – A significant market with a preference for sustainably sourced seafood.
• Asia-Pacific (China, Japan, South Korea, India, Southeast Asia, Rest of Asia-Pacific) – The largest and fastest-growing market, driven by rising incomes and changing diets.
• South America (Brazil, Argentina, Columbia, Rest of South America) – A key production region, particularly Ecuador and Brazil.
• Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria, South Africa, Rest of MEA) – An emerging market with growing demand and production potential.

Benefits of This Report

This report offers several key benefits for industry stakeholders:

• Industry drivers, restraints, and opportunities – Covered in-depth to provide a holistic view of the market.
• Neutral perspective on the market performance – Unbiased analysis of market trends and dynamics.
• Recent industry trends and developments – Up-to-date information on the latest advancements.
• Competitive landscape & strategies of key players – Insights into how leading companies are navigating the market.
• Potential & niche segments – Identification of high-growth opportunities.
• In-depth analysis of the Farmed Shrimp Market – Comprehensive coverage of all critical aspects.

Reasons to Buy

This report is an invaluable resource for a wide range of stakeholders, including:

• Access to date statistics compiled by our researchers – Provides historical and forecast data to explain market changes.
• Ability to anticipate market changes – Stay ahead of competitors by understanding future trends.
• Copy data directly into strategic documents – Easily integrate data into business plans and presentations.
• Concise analysis and clear presentation – Quickly find the information you need with user-friendly charts and tables.

Market Outlook

The future of the farmed shrimp market looks promising, with several key trends shaping its trajectory:

• Sustainability – Increasing consumer demand for sustainably farmed shrimp is driving industry-wide changes.
• Technology – Advancements in aquaculture technology are improving yields and reducing environmental impact.
• Transparency – Consumers are increasingly interested in the origin of their food, leading to greater transparency in the supply chain.
• Diversification – New markets are opening up as global trade networks expand.

For further information or to request a customised report, please contact our sales team, who will ensure your requirements are met.

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