Top Companies in the Shrimp Market

The global shrimp market reached a value of US$ 62.8 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 84.2 Billion by 2027, exhibiting a CAGR of 4.8% during 2022-2027. As per the analysis by the IMARC Group, the top manufacturers in the shrimp market are continuously innovating along the entire production and marketing chain to meet the increasing consumer expectations regarding product wholesomeness, quality, and sustainability. Production technology continues to be mostly extensive to semi-extensive with improving standardization of procedures from artisanal to industrial scale. In line with this, shrimps are more prone to periodic outbreaks of strong diseases and health management problems that disrupt supply chains and potential investors. In order to curb this challenge, key players are developing newer vaccines and adopting proactive alternatives, such as improved biosecurity, genetic selection measures, better pathogen detection, effective use of immunostimulants and probiotics. Although the shrimp industry is based on a single species with few genetically selected and improved lines, the producers are still aiming for additional genetic gains to significantly enhance production through a combination of traditional and novel technologies.

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These include selective breeding, genome-based genetic selection, and advanced genome editing tools, like clustered regularly inter-spaced short palindromic repeats (CRISPR) and transcription activator-like effector nucleases (TALEN). Some of the other methods being undertaken by shrimp farmers to expand global production include the development of new locations, intensification of existing technologies, and reusing water with multi-phased production strategies and nursery systems. Apart from this, the knowledge about nutritional needs of shrimps is also crucial for an organic and quality produce. Key players are educating the growers regarding the importance of nutrition management with better understanding of the relevance of gut health. They are also shedding light on the advancements in novel ingredients, feed manufacturing processes, and functional feeds with enhanced delivery. Other than this, the growing prominence of shrimp as a value-added convenient food product in the fast-food sector has encouraged manufacturers to apply modified atmosphere packaging solutions to extend the product shelf life, thereby making the transportation and storage easier. Leading players, particularly in the Asian region, are also currently trying to expand shrimp farming practices and export activities to other countries through several shrimp farming development programs, which is providing a competitive edge to the market players.

List of World's Largest Seafood Companies

Aqua Star Corp.

Establishment: 1990 
Headquarter: Washington, United States
Website:  https://www.aquastar.com

Aqua Star Corp. is one of the leading providers, distributors, processors, and marketers of frozen specialty seafood products, including shrimps, crabs, and fishes. The company primarily sources premium seafood from trusted fishermen and farms. Aqua Star has cold storage and processing facilities all over the United States, with other operations set up across 17 countries. Their mission is to ensure the quality, freshness, and sustainability of the product, along with providing transparency in the product lifecycle to consumers.

Avanti Feeds Ltd.

Establishment: 1993
Headquarter: India
Website:  https://avantifeeds.com

Avanti Feeds produces scientifically formulated and nutritionally balanced water-stable international quality shrimp in India. The company has marked its presence in the field of aquaculture by collaborating with the Pingtai Enterprises Co., a Taiwan-based shrimp feed manufacturer. They also have a strong technical and marketing collaboration with the Thai Union Feed Mill Group of Thailand to develop feeds and supplements for sustainable aquaculture. Some of its subsidiaries include Avanti Frozen Foods Private Limited, Avanti Thai Aqua Feeds Private Ltd., Srivastha power projects Pvt.Ltd.

Clearwater Seafoods Inc.

Establishment: 1976
Headquarter: Bedford, Canada
Website: https://www.clearwater

Clearwater Seafoods is engaged in the harvesting, processing, and marketing of shellfish and seafood, such as sea scallops, lobster, clams, shrimp, and crab. It obtains wild-caught seafood through its vessels located within Canada and Argentina and has its other operations worldwide, including Asia, North America, and Europe. Clearwater is considerably investing in sustainability, research, technology, and innovative solutions that impacts all aspects of the product lifecycle. In 2020, the company was acquired as a joint venture partnership between Premium Brands Holdings Corporation and FNC Holdings Limited Partnership, thereby shifting all of Clearwater’s fishing licenses to the other company.

High Liner Foods Inc.

Establishment: 1899
Headquarter: Lunenburg, Canada
Website: https://highlinerfs.com

High Liner Foods Inc. is a Canada-based processor and marketer of prepared, value-added frozen seafood. These products are sold under Fisher Boy, Mirabel, C.Wirthy, Sea Cuisine, Iceland Seafood and FPI labels to grocers, restaurants, institutions, and food service distributors. High Liner Foods are adopting modern aquaculture technologies to allow fish to be raised in their natural habitats, while limiting their exposure to pollutants and maintaining healthy fish population. They are also working alongside several partners and sharing resources to achieve the aforementioned sustainable goal, such as Marine Stewardship Council (MSC), Wild Salmon Center, Global Aquaculture Alliance (GAA), Aquaculture Stewardship Council (ASC), Sustainable Fisheries Partnership (SFP), and Ocean Trust.

Mazzetta Company LLC

Establishment: 1987
Headquarter: Illinois, United States
Website: https://www.mazzetta.com

Mazzetta Company LLC is a fully integrated, direct processor and importer of premium-frozen seafood, including shrimp, mussels, lobsters, and finfish. The company has developed several trusted resources to successfully manage the intricate steps involved in identifying, harvesting, processing, and delivering an uninterrupted supply of fresh seafood. Much of its fish and farmed shrimp is obtained from the seas around Africa, Australia, Brazil, China, New Zealand, and the Netherlands. Mazzetta distributes its products to restaurants, retailers, distributors, hospitality, and food service organizations under the SeaMazz banner.

Nordic Seafoods A/S

Establishment: 1988
Headquarter: Denmark, Europe
Website: https://www.nordicseafood.com

Nordic Seafoods A/S, owned by Nippon Suison Ltd. Japan, is an importer, packer, and distributor of fresh, cured, and frozen fish and seafood. Through their dedicated network and global links, they source seafood from all over the world. This involves combining the wealth of the oceans with scientific development and human values in a responsible utilization of resources. Nordic Seafoods have their own quality control department to ensure product quality, dependability, and competitiveness. Apart from this, the company supports sustainability in the seafood industry by cooperating with several international non-profit organizations, such as Marine Stewardship Council (MSC) and Aquaculture Stewardship Council (ASC).

Surapon Foods

Establishment: 1977
Headquarter: Thailand
Website: http://www.surapon.com

Surapon Foods produces frozen, fresh, mixes, and semi-processed seafood products, including shrimp, prawn, and squid under Sushi and Sasumi brand names. The Company also offers warehouse, transportation and procurement services. Surapon Foods are expanding their business operations by encompassing modern and complete production facilities, supplies, and logistics. Some of its subsidiaries include Surat Seafoods Co., Ltd., Surapon Aquaculture Co., Ltd., Chantaburi Marine Farm Co., Ltd., Punpin Co., Ltd., Surapon Nichirei Foods Co., Ltd., and BJC Marine Resources Development Co., Ltd.

Thai Union Group

Establishment: 1977
Headquarter: Thailand
Website: https://www.thaiunion.com

Thai Union Group is a producer of seafood-based food products, such as tuna, salmon, shrimp, sardine, lobster, and mackerel. It sells its products locally as well as across North America and Europe. Thai Union Group’s business categories include ambient and frozen seafood. Thai Union operates worldwide with plant facilities in France, Germany, Ghana, Poland, Portugal, Papua New Guinea, Norway, the Seychelles, Scotland, Vietnam, Thailand and the United States. Some of its brands include Bellotta, Chicken of the Sea, Fisho, King Oscar, Mareblu, John West, Parmentier, and Sealect. The company is also dedicated toward sustainability and innovation with their own fishing vessel establishments.

The Waterbase Ltd.

Establishment: 1987
Headquarter: India
Website: http://www.waterbaseindia.com

The Waterbase Ltd. is a fully integrated aquaculture company that is indulged in the manufacturing and export of high-quality shrimp feed and processed shrimp. Its operations consist of a shrimp hatchery, feed plant, grow-out farms, and advanced process plants. Apart from India, the company has a predominant presence in Japan, Europe, and the United States. Waterbase is committed towards adopting novel technologies and imparting improved practices to deliver superior services to its customers, farmers, shrimp feed dealers, and oversease buyers of processed shrimp. The organization is also focusing on sustainability by being socially responsible and offering the best in animal feed and nutrition.

Wild Oceans Pvt. Ltd.

Establishment: 2007
Headquarter: Australia
Website: https://wildoceans.com.au

Wild Oceans is engaged in the delivery of fresh and frozen seafood products, especially through their involvement in marketing, innovation, international marketing and sales, product development, strategic planning, and document and logistics control services. The company is thriving toward incorporating the latest innovation into the production of seafood to carry out exceptionally high standards of operations. As a major supplier of seafood worldwide, the organization relies upon the health and sustainability of ocean resources to promote long-term business success. They work closely with legitimate fishermen, who undertakes several initiatives to help conserve the health of the fisheries and marine environments. Wild Ocean has also partnered with some of the major organizations to implement management strategies that ensure capture and landings are strictly controlled and species are protected, whilst considering the entire ecosystem.

About IMARC Group: IMARC Group is a leading market research and consulting company that offers management strategy and market research worldwide. The company has done multiple projects on the shrimp market, which has enabled clients to set up and expand their businesses successfully. Some of the company’s offerings include: 

• Market Research
• Plant setup
• Plant Expansion
• Marketing and sales
• Procurement and Distribution
• Innovation and Product Development