Shrimp Market
                     Shrimp Market: Shares, Strategies and Forecasts, Analysis and Overview upto 2026
Shrimp Market – Insights
Shrimps are classified as decapod crustaceans that play important roles in the food chain and are
an important food source for larger animals ranging from fish to whales. Humans consume the
muscular tails of several shrimp that are widely caught and farmed for consumption. Around 20%
0f the species are commercially significant that include Whiteleg, giant tiger prawn, akiami paste
shrimp,  southern  rough  shrimp,  and  others.  Based  on  their  categorization  of  presentation,
grading, colour, and uniformity, most shrimp are sold frozen and marketed for high levels of
omega-3 fatty acids and low levels of mercury along with proteins, vitamin A and B6, B12, C
and  E,  thiamin,  riboflavin,  niacin,  phosphorous,  copper,  choline,  iodine,  and  astaxanthin.
Furthermore,  it  has  anti-inflammatory,  anti-ageing,  and anti-cancer  properties.  Chitosan  from
shrimp shells has a range of application in pharmaceuticals, agrochemicals, cosmetics, and in
water treatments. Pigments such as carotenoids and astaxanthin are obtained from shrimp waste
and is widely used in the pharmaceutical industry.
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High nutritional benefits of shrimp along with increasing applications of chitosan and pigments
obtained from shrimp are driving growth of the shrimp market. Moreover, growing consumption
of seafood and increasing aquaculture industry are further fuelling growth of the shrimp market.
For instance, according to United Nations Food and Agriculture Organization (UN FAO) survey in
July 2016, the global per capita seafood consumption increased above 20 kg per person per year.
Asia Pacific dominated the market in 2016 and accounted for 36.56% share in the global shrimp
market. Rising health awareness, high availability of shrimps at low price, and growing food
service industry are some of the major factors supporting growth of the shrimp market in the
region. Countries such as China, India, Vietnam, Indonesia, and Thailand are some of the major
producers of shrimp worldwide. Further, growing aquaculture and marine capture production is
also expected to boost growth of the Asia shrimp market over the forecast period. According to
UN FAO, the total marine capture production was highest in China at 14,811,390 tons in 2014,
which increased by 3.4% to 15,314,000 in 2015.
Farmed whiteleg shrimps segment dominated the market in 2016 and is expected to maintain its 
dominance over the forecast period. It is widely used in shrimp salads and shrimp cocktail owing
to its mild and sweet flavor. Further, giant tiger shrimps segment is anticipated to record a 
substantial growth in Western Europe and North America over the forecast period.
Food segment was the largest  application segment in 2016, owing to growing demand from
restaurants and fast food chains for shrimps along with rising popularity of frozen and canned
shrimps. According to the UN FAO, the global aquaculture production of food fish was recorded
to  73,681  thousand  units  in  2014.  In  addition,  shrimps  have  high  content  of  omega-3  fat
including EPA (Eicosapentaenoic Acid) and DHA (Docosahexaenoic Acid), which aids in improving
cardiovascular  and  nervous  system  health.  Rising  awareness  regarding  health  benefits  of
consuming omega-3 ingredients and fish-oil as food supplement is anticipated to boost growth of
the food segment over the forecast period.
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Market players in the global shrimp market are adopting various strategies such as merger and
acquisitions, collaborations, and new product launches to retain their market share. For instance,
in February 2014, Marubeni Corporation acquired Eastern Fish Company. In June 2017, BioMar
Group acquired 70% of Alimentsa for US$ 121 million; and in October 2014, Alkame Holdings,
Inc. acquired High Country Shrimp Company. Also, in July 2017, Guangdong Bai Da Science &
Technology launched BD shrimp brand in China.
Major players operating in the global shrimp market are  Pacific Seafood, Morubel nv, Maruha
Nichiro  Corporation,  The  Clover  Leaf  Seafoods  Family,  Royal  Greenland  A/S,  Rich  Products
Corporation, Thai Union Group PCL, Marvesta Shrimp Farms, Cargill, Incorporated, and Nippon
Suisan Kaisha Ltd.
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