As per the latest report by IMARC Group, titled “Prawn Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2020-2025,” the global prawn market size reached 5.4 Million Tons in 2019. Prawns, scientifically known as Dendrobranchiata, are marine crustaceans with ten legs and an exoskeleton that are similar in appearance to large shrimp. They are often found in calmer waters where they lay eggs in the water plants. They are widely used in a variety of cuisines for the preparation of soups, pasta, salads, curries and sushi. They are extremely rich in proteins, calcium, potassium, copper, magnesium, phosphorus, and vitamins A, D, E, B1, B2 and B3. Apart from this, they are also a rich source of omega-3 fatty acids that improve cardiovascular circulation, and in zinc, which is known to boost the immune system. Antioxidants, such as selenium, present in prawns are associated with promoting skin health, boosting muscle metabolism and regulating active white blood cells, while astaxanthin, a carotenoid nutrient, is known to protect the skin from premature aging. Some of the most commonly found varieties of prawn, including Jumbo tiger, langoustine and cocktail prawns, are caught and farmed commercially to be marketed across the globe in wet marinated, dry marinated, and marinated and skewered forms.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Prawn Market Trends:
The global market is primarily driven by growing health-consciousness among consumers. Several health benefits offered by the regular consumption of a protein-rich diet, along with the low-calorie content of prawns, have also contributed to their widespread inclusion in daily diets of the masses. This is further facilitated by the shifting dietary preferences and the inflating disposable income levels of individuals. Along with this, the growing focus toward sustainable development has led numerous farmers to adopt organic farming practices. The increasing availability of organic prawns in the market at reasonable prices is expected to gain widespread prominence among the consumers. The market is further driven by the growing preference for frozen and ready-to-eat variants, owing to their easy availability, long shelf life and convenience of preparation. This, coupled with the increasing proliferation of online grocery stores and the expansion of organized retail channels, is providing a thrust to the market growth. Some of the other factors contributing to the market include rapid urbanization, increasing popularity of international cuisines and the presence of abundant and varied marine and inland resources. On account of the aforementioned factors, the market is expected to exhibit moderate growth during the forecast period (2020-2025).
The study by IMARC Group covers the following:
- Breakup by Region
- Producing Regions
- Consuming Regions
- Breakup by Species
- Breakup by Prawn Size
- Import and Export Scenario
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