How much is the white shrimp market worth, and how is it expected to expand?
The white shrimp market size has grown strongly in recent years. It will grow from $21.73 billion in 2024 to $23.04 billion in 2025 at a compound annual growth rate (CAGR) of 6.0%. The growth in the historic period can be attributed to increasing consumer demand for seafood, increasing awareness of the health benefits of shrimp, rise of e-commerce platforms, rising population, changing dietary preferences.
The white shrimp market size is expected to see strong growth in the next few years. It will grow to $28.71 billion in 2029 at a compound annual growth rate (CAGR) of 5.7%. The growth in the forecast period can be attributed to growing popularity of shrimp-based cuisines, growing demand for Asian shrimp across the globe, growing shifting consumer preferences toward frozen shrimp, increasing demand for sustainable and high-quality shrimp products, growing emphasis on eco-friendly aquaculture practices. Major trends in the forecast period include demand for ecologically friendly shrimp products, implementing aquaculture innovations such as closed-loop systems, technological innovations in freezing techniques and packaging, demand for convenient and ready-to-cook seafood options, adoption of sustainable practices.
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Which industry factors have accelerated the white shrimp market’s expansion?
Growing demand for seafood is expected to propel the growth of the white shrimp market going forward. Seafood encompasses edible marine creatures such as fish, shellfish, and other aquatic species, valued for their nutritional benefits. The demand for seafood is rising due to factors such as changes in dietary preferences, rising disposable incomes, and awareness of the health benefits associated with seafood. White shrimp are commonly used in seafood dishes such as shrimp cocktails, pasta, and stir-fries due to their delicate flavor and tender texture. They are a versatile ingredient in both casual and gourmet cooking. For instance, in October 2023, according to Sea fish, a UK-based public body supporting the seafood industry. In 2022, seafood imports from Iceland to the UK reached £286.3 ($323.77) million, accounting for 8% of the total £3.64 ($4.11) billion in seafood imports. This marked a £31.2 ($35.28) million increase (+12%) from 2021. Therefore, growing demand for seafood is driving the growth of the white shrimp market.
What are the primary segments of the white shrimp market?
The white shrimp market covered in this report is segmented –
1) By Product Type: Atlantic White Shrimp, Asia-Pacific White Shrimp, South America White Shrimp
2) By Form: Frozen, Canned, Peeled, Cooked, Shell-On
3) By Application: Food, Cosmetics, Pharmaceuticals, Biotechnology And Life science
Subsegments:
1) By Atlantic White Shrimp: Wild-Caught Atlantic White Shrimp, Farmed Atlantic White Shrimp, Fresh Atlantic White Shrimp, Frozen Atlantic White Shrimp
2) By Asia-Pacific White Shrimp: Vannamei White Shrimp, Wild-Caught Asia-Pacific White Shrimp, Farmed Asia-Pacific White Shrimp, Processed Asia-Pacific White Shrimp
3) By South America White Shrimp: Ecuadorian White Shrimp, Wild-Caught South America White Shrimp, Farmed South America White Shrimp, Organic South America White Shrimp
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Which firms are leading the white shrimp market?
Major companies operating in the white shrimp market are Charoen Pokphand Foods PCL, Cooke Inc., Pescanova, Songa C.A., Nekkanti Sea Foods Limited, Apex Frozen Foods Ltd., Mazzetta Company LLC, The Waterbase Limited, Devi Sea Foods Ltd., Allen Brothers, MIDLAND CO., Homegrown Shrimp USA, Roda International, Onda, The Natural Shrimp Company, Taprobane Seafood Group, Nippon Suisan Kaisha Ltd., Oceanloop Munich GmbH, Minh Phu Seafood Corporation, Kings Infra Venture Ltd., Zhejiang Zhoufu Food Co. Ltd.
Which market trends are set to define the future of the white shrimp market?
Major companies operating in the white shrimp market are focusing on developing innovative, genetically improved white shrimp to combat disease and enhance the sustainability of its aquaculture industry. Genetically improved white shrimp are shrimp enhanced through selective breeding or genetic modification aimed at improving shrimp farming productivity, sustainability, and overall quality. For instance, in January 2024, the Department of Fisheries, a Thailand-based organization that operates under the Ministry of Agriculture and Cooperatives that promotes the fishing industry, has developed two new shrimp breeds, Petchada 1 and Sida 1. Petchada 1 is a fast-growing genotype, while Sida 1 is designed to be resistant to early mortality syndrome (EMS), a bacterial disease that has significantly impacted shrimp farming in the country since 2012. These breeds were created through selective breeding and molecular genetic techniques, utilizing various strains of Pacific white shrimp from the U.S., Guam, and Thailand. The new strains are currently undergoing commercial testing after demonstrating positive results in biosecure environments, with the aim of reducing losses for shrimp farmers and securing the industry’s future.
Which geographic trends are shaping the white shrimp market, and which region has the highest market share?
Asia-Pacific was the largest region in the white shrimp market in 2024 and it is expected to be the fastest-growing region in the forecast period. The regions covered in the white shrimp market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What Does The White Shrimp Market Report 2025 Offer?
The white shrimp market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
White shrimp are a species of shrimp commonly found in warm coastal waters. They are characterized by their light, translucent bodies with a slightly grayish or white tint. These shrimp are widely harvested for commercial purposes due to their tender, sweet flavor and versatility in cooking. They are often used in a variety of dishes such as seafood boils, shrimp cocktails, and stir-fries.
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