Shrimp Market is expected to grow at a CAGR of around 8% over the forecast period 2021-2027
Shrimps are
decapod crustaceans that play a vital role in the food chain, serving as a food
source for larger creatures such as fish, whales and human. Shrimp are marketed for their high quantities of omega-3
fatty acids, low mercury levels, proteins, vitamins A and B6, B12, C and E,
thiamin, riboflavin, niacin, phosphorus, copper, choline, iodine, and astaxanthin, among other
nutrients.
According to UnivDatos’ research report Shrimp Market the market is expected
to witness a CAGR growth of around ~8% during the forecast period 2021-2027F. Global Shrimp Market is experiencing significant growth as it possesses anti-inflammatory,
anti-aging, and cancer-fighting effects. Shrimp shell has a wide range of uses
in pharmaceuticals, agrochemicals, cosmetics, and water treatment. Shrimp waste
is used to extract pigments such as carotenoids and astaxanthin.
Based on Type: Shrimp Market is classified into Wild Shrimp, and Farmed Shrimp. The Wild Shrimp segment has acquired the highest market
share in the Shrimp market and is expected to continue to grow over the
forecasted period. This growth is attributed to the wide availability.
Based on Species: The Shrimp market is segmented into Penaeus Vannamei, Penaeus Monodon, Macrobrachium Rosenbergii, Others. The Penaeus Vannamei segment accounted
for the larger market share in 2020 and is projected to witness a significant
growth rate during the forecast period. For instance: By 2019, China’s South American white shrimp marine aquaculture
production was 1,144,370 tons, an increase of 26,836 tons compared to 2018, - a
2.4% rise.
Based on Category, the Shrimp market is segmented into Peeled, Shell-on,
Cooked, and Others. Peeled segment dominated
the Shrimp Market in the year 2020 and expected to remain leading segment over the forecast period. Primary factors driving
the peeled shrimp include high demand from the peeled shrimp from household, restaurants and fast-food chains for shrimps along with rising popularity of
frozen and canned shrimps. Futher, the Shrimp waste
is used cosmetics & pharmaceuticals industry also drive peeled shrimp
market.
Based on Distribution Channel, the Shrimp market is segmented into Hypermarkets &
Supermarkets, Specialty Stores, Hotels & Restaurants, Online, and Others.
Specialty Stores contributes to most of the
revenue for the Shrimp market. This is attributed to the fact that specialty
stores offer options such as discounts as well as the benefit of immediate
gratification.
Asia-Pacific to Grab Lion’s Share
Asia-Pacific currently owns the maximum market share in the shrimp market. Asia-Pacific region
mainly contributes to the Shrimp production. China, India, Indonesia, Vietnam, and Thailand are the top
five shrimp producers in the world, accounting for more than 80% of total
worldwide shrimp production.
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According to UnivDatos
(UMI)’, the key players with a considerable market share in the Shrimp Market are includes Aqua Star Corp., Mazzetta Company, LLC, Clearwater Seafoods Inc., Thai Union Group, Nordic Seafood A/S, Apex Frozen
Foods Ltd., Seaprimexco Vietnam, Grupo Iberica Congelados, S.A, High Liner
Foods Inc., Charoen Pokphand Foods PCL, etc.
In March 2020,
CPF Restaurant and Food Chain Co., Ltd. (CPFRF), a 99.99% owned subsidiary of
CPF, entered into an agreement with Star Marketing Co., Ltd. to acquire Five Star trademark to accommodate the growth of Five Star
business. Currently, there are 6 types of products under Five Star kiosk,
namely, grilled chicken, fried chicken, Hainanese chicken rice, shrimp wonton with noodles, ready meals, and sausages.
“Shrimp Market” provides
comprehensive qualitative and quantitative insights on the industry potential,
key factors impacting sales and purchase
decisions, hotspots, and opportunities available for the market players. Moreover, the
report also encompasses the key strategic imperatives for success for
competitors along with strategic factorial indexing measuring competitor's
capabilities on different parameters. This
will help companies in the formulation of go to market strategies and identifying the blue ocean for its offerings.
Click here to view the Report Description &
TOC: https://univdatos.com/reports/shrimp-market
Market Segmentation:
By Type (Wild Shrimp, Farmed Shrimp)
By Species (Penaeus Vannamei, Penaeus Monodon, Macrobrachium Rosenbergii, Others)
By Category (Peeled, Shell-on, Cooked, Others)
By Distribution Channel (Hypermarkets & Supermarkets, Specialty Stores, Hotels
& Restaurants, Online, Others)
By Region [North America (United States, Canada, Rest of North
America), Europe (Germany, France, UK, Netherlands, Rest of Europe), Asia-Pacific (China, Japan, Indonesia, India, Thailand, Rest of APAC), and Rest of World)]
By Company (Aqua Star Corp., Mazzetta Company, LLC, Clearwater Seafoods Inc., Thai Union Group, Nordic Seafood A/S, Apex Frozen
Foods Ltd., Seaprimexco Vietnam, Grupo Iberica Congelados, S.A, High Liner
Foods Inc., Charoen Pokphand Foods PCL)
Key questions answered in the study:
What are the current and future trends of the Shrimp Sector?
How the industry has been evolving in
terms of consumer demand and product category?
How the competition has been shaping
across the countries followed by their comparative factorial indexing?
What are the key growth drivers and challenges for the Shrimp Sector?
What is the customer orientation, purchase behavior, and
expectations from the Shrimp suppliers across various countries?
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