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Shrimp Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024

The global shrimp market reached a volume of around 4.66 Million Tons in 2018. Shrimp is one of the most common and popular types of seafood consumed worldwide. Belonging to the largest class of crustaceans called Malacostraca, they have a laterally compressed and elongated body with long antennae and legs. They can be found in both shallow and deep water as well as in freshwater lakes and streams. They are a rich source of calcium, iodine, vitamin D, vitamin B3, zinc, protein and omega-3 fatty acids but low in saturated fats. They provide numerous health benefits such as improving bone and brain health, aiding weight loss, reducing the risks of cardiovascular disease, relieving eye fatigue and lowering blood pressure which have led to a rise in their overall demand across the globe. According to IMARC Group, the market is expected to reach a volume of 5.83 Million Tons by 2024, growing at a CAGR of 3.73% during the forecast period (2019-2024).

Market Drivers:

  • The global market has been witnessing positive growth as manufacturers are adding several value-added products to their product lines. These products are gaining popularity in several countries such as the United States, Europe and Japan which has helped in expanding the consumer base.
  • Shrimp consumption has been growing continuously, especially in countries like India and China, on account of rising organized retail chains across the region. In addition, since the demand for seafood products is income elastic, a continuous increase in the number of consumers with higher disposable incomes is expected to have a positive impact on the growth of the market.
  • The governments of major producing countries have acknowledged the seafood sector as a high priority industry and are currently promoting it with several fiscal reliefs and incentives. For instance, government bodies in India, such as MPEDA (Marine Products Exports Development Authority), are supporting shrimp culture through cluster farming approach. Similar initiatives are also being taken in Vietnam, Thailand and China which are expected to attract new investors to the industry.
  • The market has traditionally been an export-oriented market in untapped markets, such as India, with only a small share of the total production consumed domestically. Over the last few years, however, the domestic market in these countries has started flourishing. The demand, which was primarily focused in big cities until a few years ago, is now spreading to tier-II and tier-III cities and the domestic consumption is expected to increase continuously over the next few years.


Breakup by Species:

  • Penaeus vannamei
  • Penaeus monodon
  • Macrobrachium rosenbergii
  • Others


Penaeus vannamei is currently the most popular species. It is farmed in numerous nations including the United States, Vietnam, Mexico, India, Brazil, China and Thailand.

Breakup by Size:

  • <21  
  • 21-25 
  • 26-30   
  • 31-40
  • 41-50 
  • 51-60
  • 61-70
  • >70


The size range of 41-50 exhibits a clear dominance in the market as they can be used in the preparation of several dishes including pasta, mixed seafood dishes, tostadas and tacos.

Regional Insights:

Major Producing Regions:

  • China
  • India
  • Indonesia
  • Vietnam
  • Thailand
  • Ecuador


China accounts for the majority of the production on account of increasing government support for improving product quality and promoting sustainable farming practices.

Major Consuming Regions:

  • United States
  • China
  • Europe
  • Japan
  • Others


Based on consumption, China represents the largest market as shrimp is an integral part of Chinese cuisine and is widely used in noodle soup and bonnet (dumpling).

Competitive Landscape:

The competitive landscape of the market has also been analyzed with the detailed profiles of the key player operating in the market.

Key Questions Answered in This Report:

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

1    Preface
2    Scope and Methodology

    2.1    Objectives of the Study
    2.2    Stakeholders
    2.3    Data Sources
        2.3.1    Primary Sources
        2.3.2    Secondary Sources
    2.4    Market Estimation
        2.4.1    Bottom-Up Approach
        2.4.2    Top-Down Approach
    2.5    Forecasting Methodology
3    Executive Summary
4    Introduction

    4.1    Overview
    4.2    Key Industry Trends
5    Global Shrimp Industry
    5.1    Market Overview
    5.2    Market Performance
        5.2.1 Volume Trends
        5.2.2 Value Trends
    5.3    Price Analysis
        5.3.1    Key Price Indicators
        5.3.2    Price Structure
    5.4    Major Shrimp Producing Countries
    5.5    Major Shrimp Consuming Countries
    5.6    Market Breakup by Species
    5.7    Market Breakup by Shrimp Size
    5.8    Trade Data
    5.9    Market Forecast
        5.9.1 Volume Trends
        5.9.2 Value Trends
6    Global Shrimp Industry: SWOT Analysis
    6.1    Overview
    6.2    Strengths
    6.3    Weaknesses
    6.4    Opportunities
    6.5    Threats
7    Global Shrimp Industry: Value Chain Analysis
    7.1    Broodstock and Hatchery
    7.2    Shrimp Harvesting
    7.3    Auction
    7.4    Peeling/Pre-processing
    7.5    Large Scale Industrial Processing
    7.6    Packaging and Export   
8    Porter’s Five Forces Analysis
    8.1    Overview
    8.2    Bargaining Power of Buyers
    8.3    Bargaining Power of Suppliers
    8.4    Degree of Rivalry
    8.5    Threat of New Entrants
    8.6   Threat of Substitutes
9    Key Success Factors
10  Major Shrimp Producing Regions 

    10.1   China 
        10.1.1 Market Trends
        10.1.2 Market Forecast
    10.2   India
        10.2.1 Market Trends
        10.2.2 Market Forecast
    10.3   Indonesia
        10.3.1 Market Trends
        10.3.2 Market Forecast
    10.4   Vietnam
        10.4.1 Market Trends
        10.4.2 Market Forecast
    10.5   Thailand
        10.5.1 Market Trends
        10.5.2 Market Forecast
    10.6   Ecuador
        10.6.1 Market Trends
        10.6.2 Market Forecast
    10.7   Others
        10.7.1 Market Trends
        10.7.2 Market Forecast
11 Major Shrimp Consuming Regions 
    11.1    United States 
        11.1.1 Market Trends
        11.1.2 Market Forecast
    11.2    China 
        11.2.1 Market Trends
        11.2.2 Market Forecast
    11.3    Europe
        11.3.1 Market Trends
        11.3.2 Market Forecast 
    11.4    Japan 
        11.4.1 Market Trends
        11.4.2 Market Forecast 
    11.5    Others 
        11.5.1 Market Trends
        11.5.2 Market Forecast 
12 Market Breakup by Species 
    12.1    Penaeus Vannamei 
        12.1.1 Market Trends
        12.1.2 Market Forecast
    12.2    Penaeus Monodon 
        12.2.1 Market Trends
        12.2.2 Market Forecast
    12.3    Macrobrachium Rosenbergii 
        12.3.1 Market Trends
        12.3.2 Market Forecast
    12.4    Others 
        12.4.1 Market Trends
        12.4.2 Market Forecast
13 Market Breakup by Shrimp Size 
    13.1  Size <21  
        13.1.1 Market Trends
        13.1.2 Market Forecast 
    13.2  Size 21-25 
        13.2.1 Market Trends
        13.2.2 Market Forecast  
    13.3  Size 26-30    
        13.3.1 Market Trends
        13.3.2 Market Forecast  
    13.4  Size 31-40 
        13.4.1 Market Trends
        13.4.2 Market Forecast  
    13.5 Size 41-50 
        13.5.1 Market Trends
        13.5.2 Market Forecast   
    13.6 Size 51-60
        13.6.1 Market Trends
        13.6.2 Market Forecast   
    13.7 Size 61-70
        13.7.1 Market Trends
        13.7.2 Market Forecast   
    13.8 Size >70
        13.8.1 Market Trends
        13.8.2 Market Forecast   
14 Market for Value Added Shrimp Products
    14.1    Market Overview 
    14.2    Market Performance 
    14.3    Market Breakup by Region 
    14.4    Market Breakup by Type 
    14.5    Market Forecast 
15 Imports of Processed Shrimps 
    15.1    Peeled 
    15.2    Shell-On 
    15.3    Cooked 
    15.4    Breaded
16 Competitive Landscape
    16.1    Competitive Structure
    16.2    Key Players 
17 Shrimp Processing
    17.1    Product Overview
    17.2    Detailed Process Flow
    17.3    Various Types of Unit Operations Involved
    17.4    Mass Balance and Raw Material Requirements
18 Project Details, Requirements and Costs Involved
    18.1    Land Requirements and Expenditures
    18.2    Construction Requirements and Expenditures
    18.3    Plant Machinery
    18.4    Machinery Pictures
    18.5    Raw Material Requirements and Expenditures
    18.6    Raw Material and Final Product Pictures
    18.7    Packaging Requirements and Expenditures
    18.8    Transportation Requirements and Expenditures
    18.9    Utility Requirements and Expenditures
    18.10  Manpower Requirements and Expenditures
    18.11  Other Capital Investments
 19   Loans and Financial Assistance
 20    Project Economics

    20.1    Capital Cost of the Project
    20.2    Techno-Economic Parameters
    20.3    Product Pricing and Margins Across Various Levels of the Supply Chain
    20.4    Taxation and Depreciation
    20.5    Income Projections
    20.6    Expenditure Projections
    20.7    Financial Analysis
    20.8    Profit Analysis

List of Figures

Figure 1: Global: Shrimp Market: Major Drivers and Challenges 
Figure 2: Global: Shrimp Market: Volume Trends (in Million Tons), 2011 - 2018
Figure 3: Global: Shrimp Market: Value Trends (in Million US$), 2011 - 2018
Figure 4: Shrimp Market: Price Structure (in US$/Ton)
Figure 5: Global: Shrimp Market: Production by Region (in %), 2018
Figure 6: Global: Shrimp Market: Consumption by Region (in %), 2018
Figure 7: Global: Shrimp Market: Breakup by Species (in %), 2018
Figure 8: Global: Shrimp Market: Breakup by Size (in %), 2018
Figure 9: Global: Processed Shrimp Imports Market: Breakup by Shrimp Type (in %), 2017
Figure 10: Global: Shrimp Market Forecast: Volume Trends (in Million Tons), 2019 - 2024
Figure 11: Global: Shrimp Market Forecast: Value Trends (in Million US$), 2019 - 2024
Figure 12: Global: Shrimp Industry: SWOT Analysis
Figure 13: Global: Shrimp Industry: Value Chain Analysis
Figure 14: Global: Shrimp Industry: Porter’s Five Forces Analysis
Figure 15: China: Shrimp Market: Volume Trends (in Million Tons), 2011 & 2018
Figure 16: China: Shrimp Market Forecast: Volume Trends (in Million Tons), 2011 & 2018
Figure 17: Vietnam: Shrimp Market: Volume Trends (in Million Tons), 2011 & 2018
Figure 18: Vietnam: Shrimp Market Forecast: Volume Trends (in Million Tons), 2019 - 2024
Figure 19: India: Shrimp Market: Volume Trends (in Million Tons), 2011 & 2018
Figure 20: India: Shrimp Market Forecast: Volume Trends (in Million Tons), 2019 - 2024
Figure 21: Indonesia: Shrimp Market: Volume Trends (in Million Tons), 2011 & 2018
Figure 22: Indonesia: Shrimp Market Forecast: Volume Trends (in Million Tons), 2019 - 2024
Figure 23: Ecuador: Shrimp Market: Volume Trends (in Million Tons), 2011 & 2018
Figure 24: Ecuador: Shrimp Market Forecast: Volume Trends (in Million Tons), 2019 - 2024
Figure 25: Thailand: Shrimp Market: Volume Trends (in Million Tons), 2011 & 2018
Figure 26: Thailand: Shrimp Market Forecast: Volume Trends (in Million Tons), 2019 - 2024
Figure 27: United States: Shrimp Market: Volume Trends (in Million Tons), 2011 & 2018
Figure 28: United States: Shrimp Market Forecast: Volume Trends (in Million Tons), 2019 - 2024
Figure 29: China: Shrimp Market: Volume Trends (in Million Tons), 2011 & 2018
Figure 30: China: Shrimp Market Forecast: Volume Trends (in Million Tons), 2019 - 2024
Figure 31: Europe: Shrimp Market: Volume Trends (in Million Tons), 2011 & 2018
Figure 32: Europe: Shrimp Market Forecast: Volume Trends (in Million Tons), 2019 - 2024
Figure 33: Japan: Shrimp Market: Volume Trends (in Million Tons), 2011 & 2018
Figure 34: Japan: Shrimp Market Forecast: Volume Trends (in Million Tons), 2019 - 2024
Figure 35: Other Regions: Shrimp Market: Volume Trends (in Million Tons), 2011 & 2018
Figure 36: Other Regions: Shrimp Market Forecast: Volume Trends (in Million Tons), 2019 - 2024
Figure 37: Global: Shrimp (Penaeus Vannamei) Market: Volume Trends (in Million Tons), 2011 & 2018
Figure 38: Global: Shrimp (Penaeus Vannamei) Market Forecast: Volume Trends (in Million Tons), 2019 – 2024
Figure 39: Global: Shrimp (Penaeus Monodon) Market: Volume Trends (in Million Tons), 2011 & 2018
Figure 40: Global: Shrimp (Penaeus Monodon) Market Forecast: Volume Trends (in Million Tons), 2019 - 2024
Figure 41: Global: Shrimp (Macrobrachium Rosenbergii) Market: Volume Trends (in Million Tons), 2011 & 2018
Figure 42: Global: Shrimp (Macrobrachium Rosenbergii) Market Forecast: Volume Trends (in Million Tons), 2019 – 2024
Figure 43: Global: Shrimp (Other Species) Market: Volume Trends (in Million Tons), 2011 & 2018
Figure 44: Global: Shrimp (Other Species) Market Forecast: Volume Trends (in Million Tons), 2019 – 2024
Figure 45: Global: Shrimp (in Size of <21) Market: Volume Trends (in Million Tons), 2011 & 2018
Figure 46: Global: Shrimp (in Size of <21) Market Forecast: Volume Trends (in Million Tons), 2019 - 2024
Figure 47: Global: Shrimp (in Size of 21-25) Market: Volume Trends (in Million Tons), 2011 & 2018
Figure 48: Global: Shrimp (in Size of 21-25) Market Forecast: Volume Trends (in Million Tons), 2019 - 2024
Figure 49: Global: Shrimp (in Size of 26-30) Market: Volume Trends (in Million Tons), 2011 & 2018
Figure 50: Global: Shrimp (in Size of 26-30) Market Forecast: Volume Trends (in Million Tons), 2019 - 2024
Figure 51: Global: Shrimp (in Size of 31-40) Market: Volume Trends (in Million Tons), 2011 & 2018
Figure 52: Global: Shrimp (in Size of 31-40) Market Forecast: Volume Trends (in Million Tons), 2019 - 2024
Figure 53: Global: Shrimp (in Size of 41-50) Market: Volume Trends (in Million Tons), 2011 & 2018
Figure 54: Global: Shrimp (in Size of 41-50) Market Forecast: Volume Trends (in Million Tons), 2019 - 2024
Figure 55: Global: Shrimp (in Size of 51-60) Market: Volume Trends (in Million Tons), 2011 & 2018
Figure 56: Global: Shrimp (in Size of 51-60) Market Forecast: Volume Trends (in Million Tons), 2019 - 2024
Figure 57: Global: Shrimp (in Size of 61-70) Market: Volume Trends (in Million Tons), 2011 & 2018
Figure 58: Global: Shrimp (in Size of 61-70) Market Forecast: Volume Trends (in Million Tons), 2019 - 2024
Figure 59: Global: Shrimp (in Size of >70) Market: Volume Trends (in Million Tons), 2011 & 2018
Figure 60: Global: Shrimp (in Size of >70) Market Forecast: Volume Trends (in Million Tons), 2019 - 2024
Figure 61: Shrimp Processing Plant: Detailed Process Flow
Figure 62: Shrimp Processing: Conversion Rate of Feedstocks
Figure 63: Shrimp Processing Plant: Proposed Plant Layout
Figure 64: Shrimp Processing Plant: Breakup of Capital Costs (in %)
Figure 65: Shrimp Industry: Profit Margins at Various Levels of the Supply Chain
Figure 66: Shrimp Processing: Manufacturing Cost Breakup (in %)

List of Tables

Table 1: Global: Shrimp Market: Key Industry Highlights, 2018 and 2024
Table 2: Global: Shrimp Market Forecast: Production Breakup by Region (in Million Tons), 2019 - 2024
Table 3: Global: Shrimp Market Forecast: Consumption Breakup by Region (in Million Tons), 2019 - 2024
Table 4: Global: Shrimp Market Forecast: Breakup by Species (in Million Tons), 2019 - 2024
Table 5: Global: Shrimp Market Forecast: Breakup by Shrimp Size (in Million Tons), 2019 - 2024
Table 6: Global: Value Added Shrimp Market: Key Industry Highlights, 2018 and 2024
Table 7: Global: Shrimp Market: Competitive Structure
Table 8: Global: Shrimp Market: Key Players
Table 9: Shrimp Processing Plant: Raw Material Requirements (in Tons/Day)
Table 10: Shrimp Processing Plant: Costs Related to Land and Site Development (in US$)
Table 11: Shrimp Processing Plant: Costs Related to Civil Works (in US$)
Table 12: Shrimp Processing Plant: Costs Related to Machinery (in US$)
Table 13: Shrimp Processing Plant: Raw Material Requirements (in Tons/Day) and Expenditures (in US$/Ton)
Table 14: Shrimp Processing Plant: Costs Related to Salaries and Wages in the First Year (in US$)
Table 15: Shrimp Processing Plant: Costs Related to Salaries and Wages in the Second Year (in US$)
Table 16: Shrimp Processing Plant: Costs Related to Salaries and Wages from Third Year Onwards (in US$)
Table 17: Shrimp Processing Plant: Costs Related to Other Capital Investments (in US$)
Table 18: Details of Financial Assistance Offered by Financial Institutions
Table 19: Shrimp Processing Plant: Capital Costs (in US$)
Table 20: Shrimp Processing Plant: Techno-Economic Parameters
Table 21: Shrimp Processing Plant: Taxation and Depreciation
Table 22: Shrimp Processing Plant: Income Projections (in US$)
Table 23: Shrimp Processing Plant: Expenditure Projections (in US$)
Table 24: Shrimp Processing Plant: Cash Flow Analysis Without Considering the Income Tax Liability
Table 25: Shrimp Processing Plant: Cash Flow Analysis on Considering the Income Tax Liability
Table 26: Shrimp Processing Plant: Profit and Loss Account

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