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New Prefeasibility Report Released On a Shrimp Processing Plant

Published on Dec 26, 2016

Shrimps are the most common and important type of seafood that are consumed worldwide. The demand of sea food such as shrimps has been on the rise mainly due to their health benefits and high nutritional value. It has been found that processed shrimp is one of the fastest moving commodities in the global market.  As a result, the shrimp market provides innumerable opportunities and a profitable business for anyone who plans to venture into this market and set up a shrimp processing plant. IMARC group’s new published report titled “Shrimp Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2017-2022” provides all the prerequisite knowledge and various aspects of the shrimp processing industry. The study offers a comprehensive analysis of the processing and manufacturing requirements, project cost, project funding, project economics, expected returns on investment, profit margins, etc. This report on a shrimp processing plant can help the reader to formulate suitable business and marketing strategies, overcome market challenges and hence build a successful business in the market.

According to the report, the global shrimp production reached 4.25 Million Tons in 2015 with the market growing at a CAGR of 4.7% during 2008-2015. Although the market experienced a fluctuating growth during the past five years due to the EMS disease that originated in China in 2009, a strong rebound in growth was observed in 2014 with a slight decrease in 2015. The market, however, is expected to grow continuously in the next five years.

The report has segmented the market on the basis of species, region and shrimp size. Based on species, Penaeus Vannamei (or White-leg shrimp) represented the species with the highest production in the global market, followed by Penaeus Monodon (or Black Tiger Shrimp) and Macrobrachium Rosenbergii. On the basis of region, China represented the largest market in terms of production. China was followed by Vietnam, India, Indonesia, Ecuador and Thailand. Moreover, as the global shrimp supply is moving towards the smaller size shrimps, Asia being the largest shrimp market is also shifting towards the production of smaller shrimp sizes (51-60 and smaller) since 2010. As a result, the category 41-50 represented the most popular category among the various categories of shrimps produced in 2015. The categories 51-60 and 31-40 represented the second and third most popular categories respectively.

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