Market Overview:

The global prawn market size reached 8.1 Million Tons in 2022. Looking forward, IMARC Group expects the market to reach US$ 9.7 Million Tons by 2028, exhibiting a growth rate (CAGR) of 3.2% during 2023-2028.

Prawns are crustaceans found naturally in calmer waters, wherein they lay eggs amidst water plants. They represent one of the popular seafood products, which are widely utilized in the preparation of soups, salads, sushi, curries, and pasta. Their consumption has been linked with preventing cancer, sustaining heart health, fighting Alzheimer’s disease, and building strong bones and muscles. As they are rich sources of selenium and antioxidants, prawns assist in enhancing the skin’s texture, regulating active white blood cells, and increasing muscle metabolism. Additionally, they help in improving the immune system. Some of the popularly consumed prawn varieties are tiger, brown, cocktail, langoustine, jumbo tiger, wild carabineros, wild Argentinian, and gambero rosso prawns.

Prawn Market Trends:

Prawns play a pivotal role in the preparation of various cuisines and are one of the leading traded seafood species. Moreover, due to the growing prevalence of lifestyle diseases, there is a rise in the adoption of a protein-rich diet worldwide. This, in confluence with the increasing health consciousness among individuals, is strengthening the growth of the market. Apart from this, the growing focus of individuals as well as governing authorities of numerous countries towards sustainable development has resulted in the rising adoption of organic farming practices. This has resulted in the escalating demand for organic prawns around the world, thereby bolstering the market growth. Furthermore, leading players operating in the industry are offering frozen, ready-to-eat (RTE) and value-added product variants to retain a competitive edge in the market. These variants have a longer shelf life and offer the convenience of preparation to end users. Besides this, the burgeoning e-commerce sector, growing penetration of the internet and boosting sales of smart devices are positively influencing the sales of prawns via online distribution channels, which is impelling the market growth. Some of the other factors like the increasing willingness among individuals to try international cuisines; the vast presence of varied and abundant marine and inland resources; and improving cold storage facilities, especially in emerging economies, are projected to fuel the growth of the market.

Competitive Landscape:

The competitive landscape of the market has been analyzed in the report, along with the detailed profiles of the major players operating in the industry.

Key Questions Answered in This Report:

• How has the global prawn market performed so far and how will it perform in the coming years?
• What are the key regional markets in the global prawn industry?
• What has been the impact of COVID-19 on the global prawn industry?
• What are the major species in the global prawn industry?
• What are the major types of processed prawns in the global prawn industry?
• What are the price trends of prawn?
• What are the various stages in the value chain of the global prawn industry?
• What are the key driving factors and challenges in the global prawn industry?
• What is the structure of the global prawn industry and who are the key players?
• What is the degree of competition in the global prawn industry?
• What are the profit margins in the global prawn industry?
• What are the key requirements for setting up a prawn processing plant?
• How are prawns processed?
• What are the various unit operations involved in a prawn processing plant?
• What is the total size of land required for setting up a prawn processing plant?
• What are the machinery requirements for setting up a prawn processing plant?
• What are the raw material requirements for setting up a prawn processing plant?
• What are the packaging requirements for prawns?
• What are the transportation requirements for prawns?
• What are the utility requirements for setting up a prawn processing plant?
• What are the manpower requirements for setting up a prawn processing plant?
• What are the infrastructure costs for setting up a prawn processing plant?
• What are the capital costs for setting up a prawn processing plant?
• What are the operating costs for setting up a prawn processing plant?
• What will be the income and expenditures for a prawn processing plant?
• What is the time required to break-even?