Global Shrimp Market to Reach 6.6 Million Tons by 2022

As a result of their high nutritional value and easy availability, shrimps have become an important part of various cuisines. Despite witnessing fluctuations in production during the last decade, the global shrimp market is projected grow rapidly during 2017-2022.



A recently published report by IMARC Group titled, “Shrimp Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2017-2022”, finds that the global shrimp market reached a value of around 4.5 Million Tons in 2016, growing at a CAGR of 3.5% during 2009-2016. One of the most popular and common type of seafood, shrimps are consumed all over the globe. They are low in fat and are a rich source of nutrients such as vitamin B12 and selenium which are important for overall good health. Some of the other nutrients found in shrimps include copper, zinc, sodium, magnesium, iron and Vitamins such as A, B6, C and E. Shrimps are also an excellent source of the carotenoid astaxanthin which has antioxidant and anti-inflammatory properties. As a result of their easy availability and high nutritional content, shrimps form an important part of various cuisines and represent one of the most traded seafood species.

The global shrimp production has seen a number of fluctuations during the last decade. This has mainly been a result of the Early Mortality Syndrome (EMS) that broke out in China in 2009, consequently affecting the production in other Southeast Asian countries such as Thailand, Vietnam, Malaysia, etc. Although the market witnessed a strong rebound in 2014, the production volumes slightly declined again in 2015. Shrimp production, however, is projected to recover in the coming years as a result of increasing demand which has encouraged producers to expand their production capacities and adopt advanced processing technologies. Some of the key factors driving the demand for shrimps include improving cold chain facilities in developing regions, rising health consciousness among consumers, value addition, improving standards of living, increasing global population, etc. As a result, the global shrimp production is expected to reach a volume of around 6.6 Million Tons by 2022.

Global Shrimp Market Forecast

The report has analysed the market on the basis of shrimp species such as Penaeus Vannamei, Penaeus Monodon, Macrobrachium Rosenbergii and others. Penaeus Vannamei (or White-leg shrimp) currently represents the largest segment accounting for the majority of the total global production volumes. The report has also segmented the market on the basis of shrimp size covering <21, 21-25, 26-30, 31-40, 41-50, 51-60, 61-70, and >70 shrimps per pound. Currently, the 41-50 shrimp per pound category represents the largest segment accounting for around a fourth of the total production volume. On a geographical basis, the report finds that China represents the largest shrimp producer accounting for nearly a third of the total global market share. Other major shrimp producing regions include Vietnam, India, Indonesia, Ecuador, Thailand, etc.

The report gives a detailed roadmap for starting a shrimp processing plant. The study, done by one of the leading research and advisory firms, covers all the requisite aspects of the global shrimp market. This ranges from a comprehensive view of the market to minute details of the industry performance, processing requirements, project cost, project funding, project economics, expected returns on investment, profit margins, etc. The report also provides SWOT, Value Chain and Porter’s Five Forces analysis. This report is a must-read for entrepreneurs, investors, researchers, consultants, business strategists, and all those who are planning to foray into the lentil processing industry in any manner.

 

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.

 

Contact Us

IMARC Group
USA: +1-631-791-1145
Email: sales@imarcgroup.com
Website: http://www.imarcgroup.com
Follow us on twitter: @imarcglobal


Related Report

Shrimp Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2017-2022

IMARC’s latest study “Shrimp Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2017-2022” provides a techno-commercial roadmap for setting up a shrimp processing plant. The study, which has been done by one of the world’s leading research and advisory firms, cover...


GCC Basmati Rice Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2017-2022

Rice forms an important part of the Middle Eastern cuisine, and is considered as a staple food along with wheat, particularly in the GCC countries. Amongst the different varieties, basmati rice is considered as the most popular type of rice which is mainly grown in the foothills of the Himalayas.


Organic Baby Food Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2017-2022

Since the initial years are fundamental for a baby’s healthy growth, its necessary to limit the baby’s exposure to any kind of dangerous chemicals. Organic baby food prevents the presence of any kind of pesticides in the baby’s system as it is made of fruits and vegetables that are not sprayed...


Indian Shrimp Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2017-2022

Shrimp is a small free-swimming invertebrate marine animal with an elongated body. The muscular tails of some shrimp species are edible for humans, as a result of which they are widely caught and farmed for human consumption.


Baby Food and Infant Formula Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2017-2022

Baby food and infant formula are food products specifically made for babies till the age of two years. Infant formula serves as a replacement of mother’s milk as it exhibits similar nutritional attributes.