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Shrimp Market Size to Register a Growth of USD 4.89 Billion | Growing Awareness about the Health Benefits of Shrimp is a key driver | Technavio

NEW YORK, April 25, 2022 /PRNewswire/ -- The shrimp market size is estimated to grow by USD 4.89 billion from 2019 to 2024, and the market's growth is anticipated to accelerate at a CAGR of 3%. Factors such as growing awareness about the health benefits of shrimp are significantly driving the market.

Technavio has announced its latest market research report titled
 Shrimp Market by Product, Distribution Channel, and Geography - Forecast and Analysis 2020-2024

Our report on "Shrimp Market by Product, Distribution Channel, and Geography - Forecast and Analysis 2020-2024" has extensively covered factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the market share during the forecast period.

Shrimp market report key highlights

  • Estimated year-on-year growth rate: 1.02%
  • Key market segments: Product (frozen shrimp, canned shrimp, and others) and geography (Europe, North America, APAC, South America, and MEA)
  • Key Consumer Region & contribution: North America at 32%

Shrimp Market Scope

Report Coverage

Details

Page number

120

Base year

2019

Forecast period

2020-2024

Growth momentum & CAGR

Accelerate at a CAGR of 3%

Market growth 2020-2024

USD 4.89 billion

Market structure

Fragmented

YoY growth (%)

1.02

Regional analysis

Europe, North America, APAC, South America, and MEA

Performing market contribution

North America at 32%

Key consumer countries

US, China, Spain, Japan, UK, and France

Competitive landscape

Leading companies, Competitive strategies, Consumer engagement scope

Key companies profiled

Caribbean Shrimp Co. Ltd, Charoen Pokphand Foods Plc, Cooke Aquaculture Inc., Grand Ocean Seafoods Co. Ltd, Liveris Afentoulis & Co., Maruha Nichiro Corp., Mazzetta Co. LLC, Ocean More Foods Co. Ltd, Rich Products Corp., and Thai Union Group PCL

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

Do reach out to our analysts for more customized reports as per needs. Speak to our Analyst now!

Shrimp market trend

  • Increasing merger and acquisition activities

    Large vendors in the market acquire smaller ones to gain access to new products and technologies at a low cost. For instance, in February 2019, Cooke Inc. (Cooke) announced the completion of the acquisition of Seajoy Seafood Corp. group, a vertically integrated, premium shrimp farm in Latin America. In March 2019, Cooke announced that it had acquired Farallon Aquaculture de Nicaragua SA (Farallon Nicaragua), a vertically integrated producer of farmed shrimp and a supplier of branded fresh-frozen shrimp to major markets in Asia, Europe, and the US.

Shrimp market challenge

  • Adverse climatic conditions and contamination

    Climate change has significantly disrupted the natural patterns and processes in aquatic ecosystems. The conditions under which seafood is produced in aquaculture impact the environment in many ways. Exotic aquaculture specimens may escape and interbreed with the native wild fish, resulting in disease spread. Vaccines and antibiotics are often administered to farmed species, which become a threat to wild fish.

View a report sample for extensive insights on key market Drivers, Trends, and Challenges influencing the market.

Key market vendor insights

The shrimp market is fragmented, and the vendors are deploying organic and inorganic growth strategies to compete in the market. Some of the key market vendors are:

  • Caribbean Shrimp Co. Ltd
  • Charoen Pokphand Foods Plc
  • Cooke Aquaculture Inc.
  • Grand Ocean Seafoods Co. Ltd
  • Liveris Afentoulis & Co.
  • Maruha Nichiro Corp.
  • Mazzetta Co. LLC
  • Ocean More Foods Co. Ltd
  • Rich Products Corp.
  • Thai Union Group PCL

For more detailed highlights on products offerings and the growth strategies adopted by other vendors, Download a sample report

Key Segment Analysis by product

  • Frozen shrimp

    The frozen shrimp segment will have significant market share growth during the forecast period. The demand for frozen shrimp is rising among consumers due to their long shelf life. Frozen shrimp can be stored in a freezer for up to nine months. The increasing import and export of frozen shrimp will also help in the growth of the segment during the forecast period.
  • Canned shrimp
  • Others

Regional Market Analysis

North America will contribute to 32% of the global shrimp market share growth during the forecast period. The US is the major market in the region. Market growth in this region will be faster than the growth of the market in Europe, MEA, and South America.

Request our report sample for additional highlights and key segments that are expected to impact the market during the forecast period.

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Table of Contents

Executive Summary

Market Landscape

  • Market ecosystem
  • Value chain analysis

Market Sizing

  • Market definition
  • Market segment analysis
  • Market size 2019
  • Market outlook: Forecast for 2019 - 2024

Five Forces Analysis

  • Five forces summary
  • Bargaining power of buyers
  • Bargaining power of suppliers
  • Threat of new entrants
  • Threat of substitutes
  • Threat of rivalry
  • Market condition

Market Segmentation by Product

  • Market segments
  • Comparison by Product
  • Frozen shrimp - Market size and forecast 2019-2024
  • Canned shrimp - Market size and forecast 2019-2024
  • Others - Market size and forecast 2019-2024
  • Market opportunity by Product

Market Segmentation by Distribution Channel

  • Supermarkets and hypermarkets
  • Convenience stores
  • Others

Customer landscape

Geographic Landscape

  • Geographic segmentation
  • Geographic comparison
  • Europe - Market size and forecast 2019-2024
  • North America - Market size and forecast 2019-2024
  • APAC - Market size and forecast 2019-2024
  • South America - Market size and forecast 2019-2024
  • MEA - Market size and forecast 2019-2024
  • Key leading countries
  • Market opportunity by geography
  • Market drivers – Demand led growth
  • Market challenges
  • Market trends

Vendor Landscape

  • Vendor landscape
  • Landscape disruption
  • Competitive scenario

Vendor Analysis

  • Vendors covered
  • Market positioning of vendors
  • Caribbean Shrimp Co. Ltd
  • Charoen Pokphand Foods Plc
  • Cooke Aquaculture Inc.
  • Grand Ocean Seafoods Co. Ltd
  • Liveris Afentoulis & Co.
  • Maruha Nichiro Corp.
  • Mazzetta Co. LLC
  • Ocean More Foods Co. Ltd
  • Rich Products Corp.
  • Thai Union Group PCL

Appendix

  • Scope of the report
  • Currency conversion rates for US$
  • Research methodology
  • List of abbreviations

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

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Email: media@technavio.com
Website: www.technavio.com/

Technavio (PRNewsfoto/Technavio)

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