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Shrimp: The Future of the $45+ Billion Market, 2019 to 2024

/EIN News/ -- Dublin, June 13, 2019 (GLOBE NEWSWIRE) -- The "The Shrimp Market - Worldwide Growth, Trends and Forecasts (2019-2024)" report has been added to ResearchAndMarkets.com's offering.

Market Overview

  • The global market for shrimps was valued at USD 45 billion in 2018, and it is estimated to register a CAGR of 5.2% during the forecast period, 2019-2024.
  • China and Thailand are the world's leading producers of shrimp, accounting for nearly 75% of the global shrimp production. In 2018, Thailand was the biggest shrimp producer with shrimp production of 2.59 million metric ton.
  • Shrimp species, such as whiteleg shrimp, giant tiger shrimps, gulf shrimps, blue shrimps, and royal red shrimps, are the most popular varieties that are consumed all over the world.

Key Market Trends

Contract Farming Initiatives by Exporters Driving the Market

One of the key drivers of the growth of the shrimp market is increasing production through contract farming. Under the contract farming, the commissioners, who are often the big export firms, supply the farmers with seeds, feed, and technology required for the production. In many developing countries, shrimp cultivation is also encouraged through various governmental policies, such as easy credit policies. One of the major challenges in shrimp farming is the outbreak of certain diseases, such as early mortality syndrome. A recent outbreak of the early mortality syndrome disease in China and Thailand, especially across the contract farms, has impacted the shrimp production and its global supply to a considerable extent, in 2016 and 2017.

Asia-Pacific Leads the Shrimp Market

Asia-Pacific has been leading the shrimps market for a long period of time. Thailand has been the largest exporter of shrimp to the United States, which is the world's biggest market for shrimp, for almost every year. As the early mortality syndrome disease impacted the Thailand shrimp production, India emerged as one of the largest producers and exporters of shrimps in 2018. Adoption of Pacific white shrimp as the prominent species by the India's growing aquaculture industry, especially in the contract farming sector, is one of the main factors, which helps India to expand more into the US shrimp market.

Topics Covered

1 INTRODUCTION
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study

2 RESEARCH METHODOLOGY

3 EXECUTIVE SUMMARY

4 MARKET DYNAMICS
4.1 Market Overview
4.2 Shrimp Market Drivers
4.3 Shrimp Market Restraints
4.4 Value Chain/Supply Chain Analysis
4.5 Porter's Five Forces Analysis

5 SHRIMP MARKET SEGMENTATION
5.1 Geography
5.1.1 North America Shrimp Market Size (2019-2024)
5.1.2 Europe Shrimp Market Size (2019-2024)
5.1.3 Asia-Pacific Shrimp Market Size (2019-2024)
5.1.4 South America Shrimp Market Size (2019-2024)
5.1.5 Africa Shrimp Market Size (2019-2024)

6 MARKET OPPORTUNITIES AND FUTURE TRENDS

7 APPENDIX

For more information about this report visit https://www.researchandmarkets.com/r/t4uquj

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Related Topics: Fish and Seafood

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