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Shrimp Market 2022 | Worth US$ 84.2 Billion by 2027 | CAGR 4.8% | Supported by Increasing Demand for Protein-Rich Diets

Shrimp Market Price Report

Shrimp Market Price Report

The global shrimp market reached a value of US$ 62.8 Billion in 2021. The market expects to reach US$ 84.2 Billion by 2027, CAGR of 4.8% during 2022-2027.

SHERIDAN, WYOMING, UNITED STATES, June 24, 2022 / -- The latest report by IMARC Group, titled “Shrimp Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” offers a comprehensive analysis of the industry, which comprises insights on the global shrimp market price. The report also includes competitor and regional analysis, and contemporary advancements in the global market.

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. Shrimp is a semitransparent, elongated invertebrate marine animal that belongs to the largest class of crustaceans, also known as Malacostraca. It is usually found in deep and shallow waters as well as in freshwater lakes and streams. Shrimp is a rich source of essential vitamins, protein, omega-3 fatty acids, selenium, protein, and iodine that aid in eliminating inflammation, maintaining a healthy lean body mass, enhancing bone strength, and protecting against cardiovascular diseases. Apart from this, shrimp consists of antioxidant and astaxanthin characteristics, which assist in relieving eye fatigue, lowering blood pressure, improving skin elasticity, and mitigating the chances of skin cancer. On account of these properties, shrimp is extensively consumed as a seafood delicacy and is commercially available in fresh and frozen forms for preparing appetizers, salads, soups, and various curry dishes.

We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.

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Important Attribute and highlights of the Report:

• Detailed analysis of the global market share
• Market Segmentation
• Historical, current, and projected size of the market in terms of volume and value
• Latest industry trends and developments
• Competitive Landscape
• Strategies of major players and product offerings

Global Shrimp Market Trends:

The global shrimp market is majorly driven by the increasing health consciousness and awareness amongst consumers regarding various beneficial properties associated with its consumption as a healthy meal. Additionally, the widespread adoption of shrimps in restaurants across the food and beverage (F&B) sector for preparing various exotic seafood dishes on account of higher disposable incomes and rising expenditure capacity of the masses, particularly in emerging economies, is propelling the market growth. Apart from this, shrimp shells exhibit anti-aging and antimicrobial properties and include carotenoids that assist in protecting skin from ultraviolet (UV) rays, improving skin texture, and reducing hair loss, thus facilitating its utilization as a key ingredient in the pharmaceutical industry for manufacturing various cosmetic and personal care products, including creams and shampoos. This, in turn, is acting as another major growth-inducing factor. Additionally, the rising environmental concerns have prompted governments of various countries to implement a sustainable aquaculture farming approach to fuel shrimp production, while mitigating the negative impact on ocean wildlife, which is contributing to the market growth. Other factors, including the rising need for ready-to-eat (RTE) consumer goods on account of hectic lifestyle schedules and strategic collaborations amongst key players for introducing innovative product variants in different packaging solutions across both online and offline distribution channels, are creating a positive outlook for the market.

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Competitive Landscape:

By IMARC group the report has also analyzed the competitive landscape of the market with some of the top shrimp companies being

Key Market Segmentation:

Breakup by Species:

• Penaeus vannamei
• Penaeus monodon
• Macrobrachium rosenbergii
• Others

Breakup by Shrimp 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

Breakup by Region:

• China
• India
• Indonesia
• Vietnam
• Thailand
• Ecuador
• Others

Key highlights of the Report:

• Market Performance (2016-2021)
• Market Outlook (2022-2027)
• COVID-19 Impact on the Market
• Porter’s Five Forces Analysis
• Historical, Current and Future Market Trends
• Market Drivers and Success Factors
• SWOT Analysis
• Structure of the Market
• Value Chain Analysis
• Comprehensive Mapping of the Competitive Landscape

TOC for the Report:

• Preface
• Scope and Methodology
• Executive Summary
• Introduction
• Global Market
• SWOT Analysis
• Value Chain Analysis
• Price Analysis
• Competitive Landscape

Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.

About Us

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

Elena Anderson
IMARC Services Private Limited
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