The shrimp market in China size reached 3.2 Million Tons in 2021. Looking forward, IMARC Group expects the market to reach 4.2 Million Tons by 2027, exhibiting a growth rate (CAGR) of 4.55% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic. These insights are included in the report as a major market contributor.
Shrimp is a marine animal that has become a staple in China. For thousands of years, the country has been practicing aquaculture and currently produces more seafood than the rest of the world combined. The consumption of shrimp has more than doubled over the past decade, catalyzed by the strong growth in the middle-class population. Moreover, shrimp imports into China have increased, whereas exports have declined, making China one of the world’s biggest importers of shrimp in recent years.
A significant factor driving the consumption of shrimp in China is its rich nutrition profile and associated health benefits. It is an excellent source of antioxidants and astaxanthin that boosts the functioning of the nervous and musculoskeletal systems. It also helps in weight management, improves bone and brain health, relieves eye fatigue, lowers blood pressure, and prevents the risk of diabetes and cardiovascular diseases. Moreover, driven by strong economic growth and rising affluence, consumers in China are undergoing a ‘nutrition transition,’ whereby they are shifting from a carbohydrate-based diet to a food that consists of higher levels of proteins. Apart from this, rapid urbanization and busy lifestyles of consumers have led to a further rise in the demand for cooked and breaded shrimp as they are ready-to-eat food items that do not require extensive preparation before cooking. Furthermore, the expansion of the e-commerce industry has boosted the online sales of shrimp, which in turn has positively impacted the industry.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the China shrimp market report, along with forecasts for the period 2022-2027. Our report has categorized the market based on environment, domestic production and imports, species, product categories and distribution channel.
Breakup by Environment:
Farmed shrimp currently dominates the market, on account of the favorable farming conditions in the country.
Breakup by Domestic Production and Imports:
- Domestic Production
At present, domestic production accounts for the majority of the overall market share.
Breakup by Species:
- Penaeus Vannamei
- Penaeus Monodon
- Macrobrachium Rosenbergii
Amongst these, Penaeus vannamei currently represents the most popular species in China.
Breakup by Product Categories:
Based on the product category, peeled shrimp holds the largest share in the market.
Breakup by Distribution Channel:
- Traditional Retail
- Hypermarkets and Supermarkets
- Convenience Stores
- Hotels and Restaurants
- Online Stores
Presently, traditional retail exhibits a clear dominance in the market.
The competitive landscape of the market has also been analyzed in the report, covering the detailed profiles of the major players operative in the industry.
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