Shrimp Market in Europe

Market Overview:

The Europe shrimp market size reached 846.8 Kilo Tons in 2022. Looking forward, IMARC Group expects the market to reach 950.8 Kilo Tons by 2028, exhibiting a growth rate (CAGR) of 1.99% during 2023-2028.

Shrimps are small marine animal with thin and fragile legs. They are generally found near the seafloor, in rivers, lakes, as well as in certain coasts. Shrimps are one of the most flavoured and delicious delicacies from the seafood congregate. They also play an important role in the food chain and are a vital source of food for larger animals like fish and whales. They are low in fat, high in protein and are a moderate source of omega-3 fats, altogether increasing their demand among the consumers. The rise in the demand can also be attributed to the benefits they provide like improved bone and brain health, weight management, lowered risk of cardiovascular disease, relieved eye fatigue and lowered blood pressure.

A major catalyst driving the demand of shrimps in Europe are its numerous health and nutritional benefits. Shrimps contain astaxanthin, a carotenoid nutrient that can act as a potent antioxidant and protects skin from premature aging. They are also loaded with selenium, which activates the enzymes needed for healthy muscle metabolism and also activates the enzymes that fight cancer growth. Moreover, they serve as an excellent source of carbohydrate free food which can lead to weight loss. The demand of value added and convenient shrimp products is also witnessing strong growth. Ready-to-eat shrimp products comprise of products which are cooked, breaded, canned, etc. Most of these products are usually fully processed such as shrimp paste, chips and pickle. However, some products are half-cooked and require to be baked, fried or cooked like breaded or canned shrimp. The demand for cooked and breaded shrimp has risen over the past years. In Europe, consumers live hectic lives and feel considerable time pressure. As a result, they prefer meals that are easy to prepare and ready to cook. Moreover, there is a rising trend towards more ready-made shrimp products.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the Europe shrimp market report, along with forecasts for the period 2023-2028. Our report has categorized the market based on environment, domestic production and imports, species, product categories and distribution channel.

Breakup by Environment:

• Farmed
• Wild

Wild shrimps currently dominate the market. 

Breakup by Domestic Production and Imports:

• Domestic Production
• Imports

The European shrimp industry is largely dependent upon imports.

Breakup by Species:

• Penaeus Vannamei
• Penaeus Monodon
• Macrobrachium Rosenbergii
• Others

Currently, penaeus vannamei dominates the market, holding the largest share.

Breakup by Product Categories:

• Peeled
• Shell-on
• Cooked
• Breaded
• Others

The peeled category accounts the largest market share, representing the leading segment.

Breakup by Distribution Channel:

• Hypermarkets and Supermarkets
• Convenience Stores
• Hotels and Restaurants
• Online Stores
• Others

Hypermarkets and Supermarkets currently represent the biggest segment. 

Competitive Landscape:

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.

This report provides a deep insight into the Europe shrimp market covering all its essential aspects. This ranges from macro overview of the market to micro details of the industry performance, recent trends, key market drivers and challenges, SWOT analysis, Porter’s five forces analysis, value chain analysis, etc. This report is a must-read for entrepreneurs, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the Europe shrimp industry in any manner.

Report Coverage:

Key Questions Answered in This Report:

• How has the Europe shrimp market performed so far and how will it perform in the coming years?
• What has been the impact of COVID-19 on the Europe shrimp market?
• What is the breakup of the Europe shrimp market on the basis of environment?
• What is the breakup of the Europe shrimp market on the basis of domestic production and imports?
• What is the breakup of the Europe shrimp market on the basis of various species?
• What is the breakup of the Europe shrimp market on the basis of product categories?
• What is the breakup of the Europe shrimp market on the basis of distribution channel?
• What are the various stages in the value chain of the Europe shrimp market?
• What are the key driving factors and challenges in the Europe shrimp market?
• What is the structure of the Europe shrimp market and who are the key players?
• What is the degree of competition in the Europe shrimp market?