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United States Shrimp Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027

Market Overview:

The United States (US) shrimp market reached a volume of 893,100 Tons in 2021. Looking forward, IMARC Group expects the market to reach 10,84,000 Tons by 2027, exhibiting at a CAGR of 3.7% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic. These insights are included in the report as a major market contributor.

The country represents the second largest consumer of shrimps after China. In the US, shrimps also represent one of the most consumed seafood accounting for around 25%-30% of the entire seafood market in the country. The majority of the shrimp supply in the US is imported from South Asian and Latin American countries to meet its rapidly growing demand.

 

 
 

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The consumption of shrimps in the US has been increasing in recent years driven by its numerous health benefits. Shrimps are rich in astaxanthin, a component of algae that helps in preventing various chronic health diseases. Astaxanthin is also good for brain and heart health. It prevents damage to brain cells and increases the levels of “good” HDL cholesterol.  Shrimps are also low in carbohydrates and calories, rich in protein and packed with nutrients which makes it perfect for health and diet conscious consumers. A particular trend in the US market is an increasing consumer demand for value added and convenient shrimp products, this includes lightly preserved products, products that require no or minimal cooking time such as “ready-to eat”, “ready-to-cook” or “ready-to-serve” shrimps, hygienically prepared and attractively packed products, etc.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the United States shrimp market, along with forecasts at the period 2022-2027. Our report has categorized the market based on environment, domestic production and imports, species, product categories and distribution channel.

Breakup by Environment:

 

 
 

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  • Farmed
  • Wild
     

On the basis of environment, the market has been segmented into farmed shrimp and wild shrimp. Farmed shrimps currently dominate the market.

Breakup by Domestic Production and Imports:

  • Domestic Production
  • Imports
     

The US shrimp market is currently dependent upon imports.

Breakup by Species:

  • Penaeus Vannamei
  • Penaeus Monodon
  • Macrobrachium Rosenbergii
  • Others
     

Based on the species, the market has been segmented as penaeus vannamei, penaeus monodon, macrobrachium rosenbergii and others. Penaeus vannamei currently accounts for the highest share.

Breakup by Product Categories:

  • Peeled
  • Shell-on
  • Cooked
  • Breaded
  • Others
     

The market has also been segmented on the basis of category as peeled, shell-on, cooked, breaded and others.

Breakup by Distribution Channel:

  • Hypermarkets and Supermarkets
  • Convenience Stores
  • Hotels and Restaurants
  • Online Stores
  • Others
     

On the basis of distribution channel, the market has been segmented as hypermarkets and supermarkets, convenience stores, hotels and restaurants, online stores and others.

Competitive Landscape:

The report has also examined the competitive landscape of the market and provides the profiles of the key players operating in the industry.

This report provides a deep insight into the United States shrimp market 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. 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 United States shrimp industry in any manner.

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 Market
    5.1    Market Overview
    5.2    Market Performance
        5.2.1    Volume Trends
        5.2.2    Value Trends
    5.3    Market Breakup by Environment
    5.4    Market Forecast
6   Global Farmed Shrimp Market
    6.1    Market Overview
    6.2    Market Performance
        6.2.1    Volume Trends
        6.2.2    Value Trends
    6.3    Production Breakup by Region
    6.4    Consumption Breakup by Region
    6.5    Market Breakup by Species
    6.6    Market Breakup by Shrimp Size
    6.7    Market Forecast
7   United States Shrimp Industry
    7.1    United States Shrimp Industry as a Part of the Seafood Industry
    7.2    Market Overview
    7.3    Market Performance
    7.4    Impact of COVID-19
    7.5    Market Breakup by Environment
    7.6    Market Breakup by Domestic Production and Imports
    7.7    Market Breakup by Species
    7.8    Market Breakup by Product Categories
    7.9    Market Breakup by Distribution Channel
    7.10    Market Forecast
    7.11    SWOT Analysis
        7.11.1    Overview
        7.11.2    Strengths
        7.11.3    Weaknesses
        7.11.4    Opportunities
        7.11.5    Threats
    7.12    Value Chain Analysis
        7.12.1    Overview
        7.12.2    Shrimp Harvesting
        7.12.3    Commercial Fisherman
        7.12.4    Auction
        7.12.5    Peeling/Pre-processing
        7.12.6    Large Scale Industrial Processing
        7.12.7    Distribution
        7.12.8    Retail Market
        7.12.9    Institutional Market
    7.13    Porters Five Forces Analysis
        7.13.1    Overview
        7.13.2    Bargaining Power of Buyers
        7.13.3    Bargaining Power of Suppliers
        7.13.4    Degree of Competition
        7.13.5    Threat of New Entrants
        7.13.6    Threat of Substitutes
    7.14    Price Analysis
    7.15    Key Success and Risk Factors for Shrimp Industry
8   Market Breakup by Environment
    8.1    Farmed
        8.1.1    Market Trends
        8.1.2    Market Forecast
    8.2    Wild
        8.2.1    Market Trends
        8.2.2    Market Forecast
9   Market Breakup by Domestic Production and Imports
    9.1    Domestic Production
        9.1.1    Market Trends
        9.1.2    Market Forecast
    9.2    Imports
        9.2.1    Market Trends
        9.2.2    Market Forecast
10   Market Breakup by Species
    10.1    Penaeus Vannamei
        10.1.1    Market Trends
        10.1.2    Market Forecast
    10.2    Penaeus Monodon
        10.2.1    Market Trends
        10.2.2    Market Forecast
    10.3    Macrobrachium Rosenbergii
        10.3.1    Market Trends
        10.3.2    Market Forecast
    10.4    Others
        10.4.1    Market Trends
        10.4.2    Market Forecast
11   Market Breakup by Product Categories
    11.1    Peeled
        11.1.1    Market Trends
        11.1.2    Market Forecast
    11.2    Shell-on
        11.2.1    Market Trends
        11.2.2    Market Forecast
    11.3    Cooked
        11.3.1    Market Trends
        11.3.2    Market Forecast
    11.4    Breaded
        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 Distribution Channel
    12.1    Hypermarkets and Supermarkets
        12.1.1    Market Trends
        12.1.2    Market Forecast
    12.2    Convenience Stores
        12.2.1    Market Trends
        12.2.2    Market Forecast
    12.3    Hotels and Restaurants
        12.3.1    Market Trends
        12.3.2    Market Forecast
    12.4    Online Stores
        12.4.1    Market Trends
        12.4.2    Market Forecast
    12.5    Others
        12.5.1    Market Trends
        12.5.2    Market Forecast
13   Competitive Landscape
    13.1    Market Structure
    13.2    Key Players

List of Figures

Figure 1: United States: Shrimp Market: Major Drivers and Challenges
Figure 2: Global: Shrimp Market: Production Volume (in Million Tons), 2016-2021
Figure 3: Global: Shrimp Market: Production Value (in Billion US$), 2016-2021
Figure 4: Global: Shrimp Market: Breakup by Environment (in %), 2021
Figure 5: Global: Shrimp Market Forecast: Production Volume (in Million Tons), 2022-2027
Figure 6: Global: Shrimp Market Forecast: Production Value (in Billion US$), 2022-2027
Figure 7: Global: Farmed Shrimp Market: Production Volume (in '000 Tons), 2016-2021
Figure 8: Global: Farmed Shrimp Market: Production Value (in Billion US$), 2016-2021
Figure 9: Global: Farmed Shrimp Market: Production Breakup by Region (in %), 2021
Figure 10: Global: Farmed Shrimp Market: Consumption Breakup by Region (in %), 2021
Figure 11: Global: Farmed Shrimp Market: Breakup by Species (in %), 2021
Figure 12: Global: Farmed Shrimp Market: Breakup by Shrimp Size (in %), 2021
Figure 13: Global: Farmed Shrimp Market Forecast: Production Volume (in '000 Tons), 2022-2027
Figure 14: Global: Farmed Shrimp Market Forecast: Production Value (in Billion US$), 2022-2027
Figure 15: United States: Shrimp Industry as a Part of the Seafood Industry (in %), 2021
Figure 16: United States: Shrimp Market: Consumption Volume (in '000 Tons), 2016-2021
Figure 17: United States: Shrimp Market: Breakup by Environment (in %), 2021
Figure 18: United States: Shrimp Market: Breakup by Domestic Production and Imports (in %), 2021
Figure 19: United States: Shrimp Market: Breakup by Species (in %), 2021
Figure 20: United States: Shrimp Market: Breakup by Product Categories (in %), 2021
Figure 21: United States: Shrimp Market: Breakup by Distribution Channel (in %), 2021
Figure 22: United States: Shrimp Market Forecast: Consumption Volume (in '000 Tons), 2022-2027
Figure 23: United States: Shrimp Industry: SWOT Analysis
Figure 24: United States: Shrimp Industry: Value Chain Analysis
Figure 25: United States: Shrimp Industry: Porter’s Five Forces Analysis
Figure 26: United States: Farmed Shrimp Market: Production Volume (in '000 Tons), 2016 & 2021
Figure 27: United States: Farmed Shrimp Market Forecast: Production Volume (in '000 Tons), 2022-2027
Figure 28: United States: Wild Shrimp Market: Production Volume (in '000 Tons), 2016 & 2021
Figure 29: United States: Wild Shrimp Market Forecast: Production Volume (in '000 Tons), 2022-2027
Figure 30: United States: Shrimp (Domestic Production) Market: Production Volume (in '000 Tons), 2016-2021
Figure 31: United States: Shrimp (Domestic Production) Market Forecast: Production Volume (in '000 Tons), 2022-2027
Figure 32: United States: Shrimp Market: Import Volume (in '000 Tons), 2016 & 2021
Figure 33: United States: Shrimp Market Forecast: Import Volume (in '000 Tons), 2022-2027
Figure 34: United States: Shrimp (Penaeus Vannamei) Market: Consumption Volume (in '000 Tons), 2016 & 2021
Figure 35: United States: Shrimp (Penaeus Vannamei) Market Forecast: Consumption Volume (in '000 Tons), 2022-2027
Figure 36: United States: Shrimp (Penaeus Monodon) Market: Consumption Volume (in '000 Tons), 2016 & 2021
Figure 37: United States: Shrimp (Penaeus Monodon) Market Forecast: Consumption Volume (in '000 Tons), 2022-2027
Figure 38: United States: Shrimp (Macrobrachium Rosenbergii) Market: Consumption Volume (in '000 Tons), 2016 & 2021
Figure 39: United States: Shrimp (Macrobrachium Rosenbergii) Market Forecast: Consumption Volume (in '000 Tons), 2022-2027
Figure 40: United States: Shrimp (Other Species) Market: Consumption Volume (in '000 Tons), 2016 & 2021
Figure 41: United States: Shrimp (Other Species) Market Forecast: Consumption Volume (in '000 Tons), 2022-2027
Figure 42: United States: Shrimp (Peeled) Market: Consumption Volume (in '000 Tons), 2016 & 2021
Figure 43: United States: Shrimp (Peeled) Market Forecast: Consumption Volume (in '000 Tons), 2022-2027
Figure 44: United States: Shrimp (Shell-on) Market: Consumption Volume (in '000 Tons), 2016 & 2021
Figure 45: United States: Shrimp (Shell-on) Market Forecast: Consumption Volume (in '000 Tons), 2022-2027
Figure 46: United States: Shrimp (Cooked) Market: Consumption Volume (in '000 Tons), 2016 & 2021
Figure 47: United States: Shrimp (Cooked) Market Forecast: Consumption Volume (in '000 Tons), 2022-2027
Figure 48: United States: Shrimp (Breaded) Market: Consumption Volume (in '000 Tons), 2016 & 2021
Figure 49: United States: Shrimp (Breaded) Market Forecast: Consumption Volume (in '000 Tons), 2022-2027
Figure 50: United States: Shrimp (Other Product Categories) Market: Consumption Volume (in '000 Tons), 2016 & 2021
Figure 51: United States: Shrimp (Other Product Categories) Market Forecast: Consumption Volume (in '000 Tons), 2022-2027
Figure 52: United States: Shrimp Market: Sales through Hypermarket and Supermarket (in '000 Tons), 2016 & 2021
Figure 53: United States: Shrimp Market Forecast: Sales through Hypermarkets and Supermarkets (in '000 Tons), 2022-2027
Figure 54: United States: Shrimp Market: Sales through Convenience Stores (in '000 Tons), 2016 & 2021
Figure 55: United States: Shrimp Market Forecast: Sales through Convenience Stores (in '000 Tons), 2022-2027
Figure 56: United States: Shrimp Market: Sales through Hotels and Restaurants (in '000 Tons), 2016 & 2021
Figure 57: United States: Shrimp Market Forecast: Sales through Hotels and Restaurants (in '000 Tons), 2022-2027
Figure 58: United States: Shrimp Market: Sales through Online Stores (in '000 Tons), 2016 & 2021
Figure 59: United States: Shrimp Market Forecast: Sales through Online Stores (in '000 Tons), 2022-2027
Figure 60: United States: Shrimp Market: Sales through Other Distribution Channels (in '000 Tons), 2016 & 2021
Figure 61: United States: Shrimp Market Forecast: Sales through Other Distribution Channels (in '000 Tons), 2022-2027

List of Tables

Table 1: Global: Shrimp Market: Key Industry Highlights, 2021 and 2027
Table 2: Global: Farmed Shrimp Market: Key Industry Highlights, 2021 and 2027
Table 3: United States: Shrimp Market: Key Industry Highlights, 2021 and 2027
Table 4: United States: Shrimp Market Forecast: Breakup by Environment (in '000 Tons), 2022-2027
Table 5: United States: Shrimp Market Forecast: Breakup by Domestic Production and Imports (in '000 Tons), 2022-2027
Table 6: United States: Shrimp Market Forecast: Breakup by Species (in '000 Tons), 2022-2027
Table 7: United States: Shrimp Market Forecast: Breakup by Product Categories (in '000 Tons), 2022-2027
Table 8: United States: Shrimp Market Forecast: Breakup by Distribution Channel (in '000 Tons), 2022-2027
Table 9: United States: Shrimp Industry: Competitive Structure
Table 10: United States: Shrimp Industry: Key Players


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Key Questions Answered in This Report

The United States shrimp market reached a volume of 893,100 Tons in 2021.

We expect the United States shrimp market to exhibit a CAGR of 3.7% during 2022-2027.

The growing popularity of Ready-to-Eat and Ready-to-Serve shrimp products that are hygienically
prepared and attractively packed is primarily driving the United States shrimp market.

The sudden outbreak of the COVID-19 pandemic has led to the changing consumer inclination from
conventional brick-and-mortar distribution channels towards online retail platforms for the purchase
of shrimp and shrimp -based products in the United States.

Based on the environment, the United States shrimp market can be divided into farmed and wild.
Currently, farmed shrimps exhibit a clear dominance in the market.

Based on the domestic production and imports, the United States shrimp market has been
segregated into domestic production and imports, where imports hold the majority of the total
market share.

Based on the species, the United States shrimp market can be segmented into Penaeus Vannamei,
Penaeus Monodon, Macrobrachium Rosenbergii, and others. Among these, Penaeus Vannamei
represents the largest market share.

Based on the product categories, the United States shrimp market has been categorized into peeled,
shell-on, cooked, breaded, and others. Currently, peeled product exhibits clear dominance in the
market.

Based on the distribution channel, the United States shrimp market can be bifurcated into
hypermarkets and supermarkets, convenience stores, hotels and restaurants, online stores, and
others. Among these, hotels and restaurants account for the majority of the total market share.

Some of the major players in the United States shrimp market include Pacific Seafood, Chicken of the
sea, Pacific Coral Seafood, Sysco foods, Aqua Star, C.P. Food Products, Inc., etc.

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