Shrimp Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2018-2023

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The global shrimp market reached a volume of around 4.5 Million Tons in 2017. The market is further projected to reach a volume of around 6 Million Tons by 2023, at a CAGR of nearly 4.5% during 2018-2023. Shrimp are one of the most common and popular types of seafood consumed worldwide. Belonging to the largest class of crustaceans called Malacostraca, shrimp have a laterally compressed and elongated body with long antennae and long legs. They can be found in shallow and deep water as well as in freshwater lakes and streams. Shrimp are a rich source of calcium, iodine, vitamin D, vitamin B3, zinc, protein and omega-3s but low in saturated fat. Additionally, they provide numerous health benefits such as improved bone and brain health, weight management, lowered risk of cardiovascular disease, relieved eye fatigue and lowered blood pressure. These benefits have led to a rise in the overall demand for shrimp across the globe.

Global Shrimp Market Drivers:

  • The global shrimp market has been witnessing a positive growth as shrimp manufacturers across the globe are adding several value-added products to their product lines. These value-added products are gaining popularity in several countries such as United States, Europe and Japan, thereby improving the existing consumer base of shrimp.
  • Several shrimp producing regions such as China, India, etc. have been growing continuously over the past few decades as a result of a continuous growth in both urban and rural disposable incomes in these countries. As the demand for seafood products is income elastic, a continuous increase in the number of consumers with higher disposable incomes is expected to create a positive impact on the growth of the shrimp processing industry in short term.
  • The governments of major shrimp producing regions have acknowledged the seafood sector as a high priority industry and is currently promoting it with a number of fiscal reliefs and incentives. For instance, in India, government bodies such as MPEDA (Marine Products Exports Development Authority) is supporting shrimp culture through cluster farming approach. Similar initiatives are also being taken in other countries such as Vietnam, Thailand, China, etc.  This move is expected to attract new investors to invest in the shrimp industry.
  • Currently, shrimp of various species such as Pacific White Shrimp / Litopenaeus Vannamei, penaeus Monodon etc. are being produced by the shrimp farmers. Moreover, shrimp of these species are available in a number of sizes such as 41-50, 51-60, 30-40, etc. Such vast presence of different kinds of shrimp caters to the taste and preferences of a large number of consumers.
  • The shrimp 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 shrimp market in these countries has started booming up. The demand, which was largely focussed on big cities few years ago, is now spreading to tier-II and tier-III cities. With the high growth in disposable incomes, domestic consumption is expected to increase continuously in the near term.


Shrimp Industry Trends 2018

Regional Insights:

The shrimp market has been segmented on the basis of production. Currently, China accounts for the majority of the shrimp production on account of increasing government support to improve production quality and promote sustainable shrimp farming practices. China is followed by India, Indonesia, Vietnam, Thailand and Ecuador.

Based on consumption, China represents the largest market followed by the United States, Europe and Japan. This can be attributed to the fact that shrimp is an important part of Chinese cuisine such as noodle soup, shrimp bonnet (dumpling) and stir-fried shrimp.

Breakup by Species:

Penaeus Vannamei is currently the most popular specie of shrimp being consumed. It is cultivated by numerous nations including the United States, Vietnam, Mexico, India, Brazil, China, and Thailand. Penaeus Vannamei is followed by Penaeus Monodon and Macrobrachium Rosenbergii.

Breakup by Shrimp Size:

On the basis of shrimp size, the market has been segregated into 41-50, 51-60, 31-40, >70, 61-70, 26-30, 21-25 and <21. Amongst these, shrimp in the size range of 41-50 exhibits a clear dominance as they can be used for the preparation of several dishes including pasta, mixed seafood dishes, tostadas, tacos, etc.

Export and Import:

The report has also analysed the export and import trends of the global shrimp market according to which India represented the largest exporter, whereas Europe enjoyed the leading position as largest importer.

This report provides a deep insight into the global shrimp industry 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. The report also provides a comprehensive analysis for setting up a shrimp manufacturing plant. The study analyses the processing and manufacturing requirements, project cost, project funding, project economics, expected returns on investment, profit margins, 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 shrimp industry in any manner.

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 production regions in the global shrimp industry?
  • What are the major consumption regions in the global shrimp industry?
  • What are the various shrimp sizes in the global shrimp industry?
  • What are the popular species in the global shrimp industry?
  • What are the export and import trends in the global shrimp industry?
  • What are the price trends of shrimp?
  • 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 manufacturing plant?
  • How are shrimp manufactured?
  • What are the various unit operations involved in a shrimp manufacturing plant?
  • What is the total size of land required for setting up a shrimp manufacturing plant?
  • What are the machinery requirements for setting up a shrimp manufacturing plant?
  • What are the raw material requirements for setting up a shrimp manufacturing 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 manufacturing plant?
  • What are the manpower requirements for setting up a shrimp manufacturing plant?
  • What are the infrastructure costs for setting up a shrimp manufacturing plant?
  • What are the capital costs for setting up a shrimp manufacturing plant?
  • what are the operating costs for setting up a shrimp manufacturing plant?
  • What will be the income and expenditures for a shrimp manufacturing 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 Trends
        5.3.1    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    Imports and Exports
    5.9    Market Forecast
        5.9.1 Volume Trends
        5.9.2 Value Trends
6    Global Shrimp Industry: SWOT Analysis
    6.1    Strengths
    6.2    Weaknesses
    6.3    Opportunities
    6.4    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 
    10.2   India
    10.3   Indonesia
    10.4   Vietnam
    10.5   Thailand
    10.6   Ecuador
11 Major Shrimp Consuming Regions 
    11.1    United States 
    11.2    China 
    11.3    Europe 
    11.4    Japan 
    11.5    Others 
12 Market Breakup by Species 
    12.1    Penaeus Vannamei 
    12.2    Penaeus Monodon 
    12.3    Macrobrachium Rosenbergii 
    12.4    Others 
13 Market Breakup by Shrimp Size 
    13.1  <21   
    13.2  21-25  
    13.3  26-30    
    13.4  31-40 
    13.5  41-50  
    13.6  51-60
    13.7  61-70
    13.8   >70
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 Industry Overview
Figure 2: Global: Shrimp Market: Volume Trends (in Million Tons), 2010 - 2017
Figure 3: Global: Shrimp Market: Value Trends (in Million US$), 2010 & 2017
Figure 4: Shrimp Price Trends (in US$/Ton), 2015 - 2017
Figure 5: Global: Shrimp Market: Production by Region (in %), 2017
Figure 6: Global: Shrimp Market: Consumption by Region (in %), 2017
Figure 7: Global: Shrimp Market: Breakup by Species (in %), 2017
Figure 8: Global: Shrimp Market: Breakup by Size (in %), 2017
Figure 9: Global: Shrimp Imports Market: Breakup by Processed Shrimp Type (in %), 2017
Figure 10: Global: Shrimp Market Forecast: Volume Trends (in Million Tons), 2018-2023
Figure 11: Global: Shrimp Market Forecast: Value Trends (in Million US$), 2018-2023
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 (in Million Tons), 2015, 2017 & 2023
Figure 16: Vietnam: Shrimp Market (in Million Tons), 2015, 2017 & 2023
Figure 17: India: Shrimp Market (in Million Tons), 2015, 2017 & 2023
Figure 18: Indonesia: Shrimp Market (in Million Tons), 2015, 2017 & 2023
Figure 18: Ecuador: Shrimp Market (in Million Tons), 2015, 2017 & 2023
Figure 19: Thailand: Shrimp Market (in Million Tons), 2015, 2017 & 2023
Figure 20: Shrimp Processing Plant: Detailed Process Flow
Figure 21: Shrimp Processing: Conversion Rate of Products
Figure 22: Shrimp Processing Plant: Proposed Plant Layout
Figure 23: Shrimp Processing Plant: Breakup of Capital Costs (in %)
Figure 24: Shrimp Industry: Profit Margins at Various Levels of the Supply Chain
Figure 25: Shrimp Processing: Manufacturing Cost Breakup (in %)

List of Tables

Table 1: Global: Shrimp Market: Key Industry Highlights, 2017 and 2023
Table 2: Global: Shrimp Market Forecast: Breakup by Region, 2018-2023
Table 3: Global: Shrimp Farming 
Table 4: Shrimp Processing Plant: Costs Related to Land and Site Development (in US$)
Table 5: Shrimp Processing Plant: Costs Related to Civil Works (in US$)
Table 6: Shrimp Processing Plant: Costs Related to Machinery (in US$)
Table 7: Shrimp Processing Plant: Raw Material Requirements
Table 8: Shrimp Processing Plant: Costs Related to Salaries and Wages in the First Year (in US$)
Table 9: Shrimp Processing Plant: Costs Related to Salaries and Wages in the Second Year (in US$)
Table 10: Shrimp Processing Plant: Costs Related to Salaries and Wages from Third Year Onwards (in US$)
Table 11: Shrimp Processing Plant: Costs Related to Other Capital Investments (in US$)
Table 12: Details of Financial Assistance Offered by Financial Institutions
Table 13: Shrimp Processing Plant: Capital Costs (in US$)
Table 14: Shrimp Processing Plant: Techno-Economic Parameters
Table 15: Shrimp Processing Plant: Taxation and Depreciation
Table 16: Shrimp Processing Plant: Income Projections (in US$)
Table 17: Shrimp Processing Plant: Expenditure Projections (in US$)
Table 18: Shrimp Processing Plant: Cash Flow Analysis Without Considering the Income Tax Liability
Table 19: Shrimp Processing Plant: Cash Flow Analysis on Considering the Income Tax Liability
Table 20: Shrimp Processing Plant: Profit and Loss Account
 


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