Global Shrimp Market to Grow at 3.9% During 2025-2033, Reaching USD 105.4 Billion by 2033

Global Shrimp Market Statistics, Outlook and Regional Analysis 2025-2033

The global shrimp market size was valued at USD 71.9 Billion in 2024, and it is expected to reach USD 105.4 Billion by 2033, exhibiting a growth rate (CAGR) of 3.9% from 2025 to 2033.

The market is driven by the increasing consumption of shrimp as seafood item, with a strong market presence in regions like North America, Europe, and Asia. The rising popularity of shrimp in both developed and emerging markets is attributed to its versatility, high nutritional value, and increasing consumer preference for seafood over other protein sources. For instance, in September 2024, The Global Shrimp Council (GSC) announced a marketing campaign aimed at facilitating shrimp consumption, starting with the U.S. market. The campaign’s language will incorporate shrimp's nutritional value, versatility, and convenience into its messaging, seeking to show consumers consuming shrimp is a “smart, delicious, and happy decision”. As disposable incomes rise, particularly in developing nations, people are willing to pay a premium for high-quality shrimp. The growth in food service sectors, such as restaurants and fast-food chains, also boosts shrimp consumption.

Overfishing concerns and environmental impacts have led to a demand for sustainable and responsible shrimp farming. For instance, in November 2024, The Guayaquil, Ecuador-based Sustainable Shrimp Partnership (SSP) welcomed Adisseo, BIOLAN, and Cargill as the newest members of its strategic alliance of companies that share a mission to transform aquaculture through responsible, sustainable, and transparent practices. Adisseo and Cargill are both aquafeed producers, while BIOLAN is a producer of biosensors, which help producers track food quality and safety. With the rise of eco-conscious consumers and the push from regulatory bodies, the shrimp industry has been transitioning to more sustainable practices, such as certified aquaculture systems and better farm management techniques. This includes measures to reduce the environmental footprint, ensure traceability, and promote ethical labor practices. As consumers increasingly demand responsibly sourced seafood, sustainable production is a key factor driving market growth.

Global Shrimp Market Statistics, By Region

The market research report has also provided a comprehensive analysis of all the major regional markets, which include the United States, China, Europe, Japan, Indonesia, and Others. According to the report, China accounted for the largest market share due to the increasing domestic demand for seafood, higher disposable incomes, advancements in aquaculture technology, sustainable farming practices, and a growing focus on both local consumption and exports to international markets.

United States Shrimp Market Trends:

In the USA, the market is fueled by strong consumer demand for seafood, increasing preference for low-fat protein options, and the popularity of shrimp in the dining and food service sectors. Additionally, expanded import networks and a shift toward sustainably sourced products contribute to market growth and meet consumption demands. For instance, in March 2024, Thai Union Group, the world’s seafood leader, launched an innovative program to significantly reduce greenhouse gas (GHG) emissions within the shrimp supply chain. The Shrimp Decarbonization initiative, which was developed in collaboration with global environmental organization The Nature Conservancy (TNC) and Ahold Delhaize USA, marks a significant step towards more sustainable aquaculture practices.

China Shrimp Market Trends:

In China, the market is driven by rising disposable incomes, growing seafood consumption, and a shift towards healthier diets. Additionally, advancements in aquaculture technology, sustainable farming practices, and increasing demand for both domestic and export markets are key factors. For instance, in October 2024, the first batch of whiteleg shrimp imported from Honduras officially entered the Chinese market under a zero-tariff arrangement, an indication of closer economic and trade ties between China and Honduras in line with the early harvest arrangement of the free trade agreement (FTA). Under that arrangement, China imposed zero tariffs on frozen shrimp originating from Honduras.

Europe Shrimp Market Trends:

In Europe, the market is driven by growing consumer demand for seafood, a shift towards healthier, protein-rich diets, and the popularity of shrimp in Mediterranean and international cuisines. Additionally, increasing focus on sustainable sourcing, certifications, and traceability, along with expanded import channels, support the market's steady growth. For instance, in March 2024, Lenk Seafood Services GmbH, a leading company in frozen fish and seafood from Asia, announced that the first high-quality Black Tiger Shrimp under its sustainable brand “Luna Shrimp Farms”, a product that has been farmed by numerous Bangladeshi small-scale farmers, is in store now. The product is available at the Kaufland stores in Germany.

Japan Shrimp Market Trends:

In Japan, the market is driven by high consumer demand for seafood, traditional culinary preferences for shrimp, and a stable economy supporting premium seafood consumption. Additionally, the demand for high-quality, sustainably sourced shrimp, along with a reliance on imports to meet domestic needs, shapes Japan’s shrimp market dynamics.

Indonesia Shrimp Market Trends:

In Indonesia, the market is driven by strong export demand, particularly from the U.S. and Europe, as well as a focus on sustainable aquaculture practices and improved farming technology. Additionally, government support for shrimp farming, favorable climatic conditions, and investments in infrastructure further bolster Indonesia’s role as a major shrimp supplier.

Top Companies Leading in the Shrimp Industry

Some of the leading shrimp market companies include Apex Frozen Foods Ltd., Aqua Star (Admiralty Island Fisheries Inc.), Charoen Pokphand Foods PCL, Grand Ocean Seafoods Co. Ltd., Grupo Ibérica Congelados S.A., Liveris Afentoulis & Co., Mazzetta Company LLC, Nordic Seafood A/S (Nippon Suisan Kaisha Ltd.), Ocean More Foods Co. Ltd., Pacific Seafood, Seaprimexco Vietnam, and Thai Union Group PCL., among many others.

In April 2024, Charoen Pokphand Foods Public Company Limited (CP Foods) attained certification for its antibiotic-free products, as seven of its shrimp farms in Thailand have been granted Antibiotic-Free Product Certification by SGS (Thailand) Company Limited, a renowned global authority in inspection, testing, and certification. This milestone underscores CP Foods' steadfast dedication to ensuring food safety and delivering top-tier shrimp products of exceptional quality to consumers worldwide.

Global Shrimp Market Segmentation Coverage

• On the basis of the environment, the market has been categorized into farmed and wild shrimp, wherein farmed shrimp represent the leading segment. Farmed shrimp holds the largest share of the market due to its reliable, year-round supply, which meets high global demand. Controlled farming conditions also enable consistent quality and size, while advances in aquaculture technology and sustainable practices make farmed shrimp more accessible and environmentally responsible compared to wild-caught options.
• Based on the species, the market is classified into Penaeus Vannamei, Penaeus monodon, macrobrachium rosenbergii, and others, amongst which Penaeus Vannamei dominates the market. Penaeus vannamei, or whiteleg shrimp, holds the largest market share due to its rapid growth rate, adaptability to various farming conditions, and high disease resistance, making it cost-effective for large-scale aquaculture. Its mild flavor and consistent quality further enhance its popularity in global seafood markets, supporting strong consumer demand.
• On the basis of the shrimp size, the market has been divided into <21, 21-25, 26-30, 31-40, 41-50, 51-60, 61-70, and >70. <21 shrimp size is popular for premium dishes and luxury markets, where larger shrimp sizes are preferred for their texture and flavor. 21-25 shrimp size is a common choice for high-end restaurants and gourmet recipes, valued for its large size and appealing presentation. 26-30 shrimp size is widely used in casual dining and home cooking, as it balances size and affordability for versatile culinary applications. 31-40 shrimp size is popular for shrimp cocktails and appetizers, providing a balance between size and quantity per serving. 41-50 shrimp size is common in mass-market retail and frozen products, offering an economical option that works well in a variety of dishes. 51-60 shrimp size is used frequently in prepared foods and convenience products, providing a manageable size for recipes like stir-fries and pasta. 61-70 shrimp size is favored in quick-serve and ready-to-eat products due to its smaller size, which cooks quickly and integrates well with other ingredients. >70 shrimp size is ideal for breaded, fried, and snack products, whereas smaller shrimp sizes allow for easy portioning and affordability.
• Based on the distribution channel, the market is segregated into hypermarkets and supermarkets, convenience stores, hotels and restaurants, online sales, and others. Hypermarkets and supermarkets offer a wide variety of shrimp options, catering to large numbers of consumers with both fresh and frozen selections. Convenience stores provide accessible, ready-to-cook shrimp products for quick meal solutions, appealing to busy, urban consumers. Hotels and restaurant establishments drive demand for high-quality shrimp, especially in premium dishes and seafood specialties for dining experiences. In online sales, the growth of e-commerce allows consumers to order shrimp directly, with convenient delivery options and a wide selection of fresh and frozen products.

Browse IMARC Related Reports on Shrimp Market:

• Indian Shrimp Market Report
   
• Europe Shrimp Market Report
   
• China Shrimp Market Report
   
• United States Shrimp Market Report
   
• Japan Shrimp Market Report