Global Shrimp Market to Reach USD 162.7 Billion by 2036, Driven by Aquaculture Expansion and Value-Added Demand

The global shrimp market is entering a decade of sustained expansion, supported by rising demand for high-protein seafood, rapid advances in aquaculture, and strong uptake of value-added shrimp products. The industry is valued at USD 75.6 billion in 2026 and is projected to reach USD 162.7 billion by 2036, growing at a CAGR of 8.0%. Shrimp continues to gain relevance as a versatile, affordable, and nutritionally dense protein across both retail and foodservice channels.

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Growth momentum is strongest in aquaculture-led regions, particularly South Asia & Pacific, East Asia, and Latin America. Countries such as India, Vietnam, Thailand, and Ecuador are scaling production through improved farm management, disease control protocols, and feed efficiency. Ecuador, in particular, has emerged as a high-growth exporter, benefiting from integrated farming and processing capabilities that enhance yield consistency and quality.

Consumer behavior is reinforcing this trajectory. Shrimp’s high protein content, low fat profile, and fast cooking time align well with modern dietary preferences. At the same time, urban lifestyles are accelerating demand for ready-to-cook, frozen, canned, and pre-seasoned shrimp, especially in North America and Europe. These formats offer predictable portioning, longer shelf life, and minimal preparation time, making shrimp a staple beyond traditional seafood occasions.

Quick Market Snapshot

• Market Value (2026): USD 75.6 billion
• Forecast Value (2036): USD 162.7 billion
• CAGR (2026–2036): 8.0%
• Leading Form: Canned shrimp (80% share)
• Dominant Species: Gulf shrimp (53% share)
• Fastest-Growing Country: India (10.2% CAGR)

Segment Dynamics Shape Market Structure

The shrimp market is segmented by species, form, source, processing method, and application, reflecting its broad industrial relevance. Applications extend beyond food into pharmaceuticals, cosmetics, industrial uses, and biotechnology, though food consumption remains dominant.

Canned shrimp leads the form segment with an estimated 80% share in 2026, supported by affordability, shelf stability, and improved canning technologies that preserve taste and nutrition. While frozen and breaded shrimp are growing steadily, canned products continue to anchor retail demand across both developed and emerging markets.

By species, Gulf shrimp commands 53% of global demand, favored for premium quality, firm texture, and sustainability credentials. Their appeal is strongest in Western markets, where traceability and responsible sourcing increasingly influence purchasing decisions.

Regional Growth Highlights

• India: Fastest-growing market at 10.2% CAGR, driven by export strength, modernized aquaculture, and expanding domestic consumption.
• China: Growing at 7.2% CAGR, supported by urbanization, coastal consumption, and large-scale shrimp farming upgrades.
• United States: Expected 6.5% CAGR, fueled by foodservice demand, meal kits, and convenience-focused retail formats.
• Germany: Advancing at 5.4% CAGR, with emphasis on frozen, prepared, and sustainably sourced shrimp.
• Brazil: Growing at 4.5% CAGR, supported by strong cultural consumption and export-oriented production.

Challenges, Trends, and Opportunities

Despite strong fundamentals, the industry faces price volatility, disease outbreaks, climate-related risks, and regulatory pressures. Environmental compliance and certification costs remain key concerns, particularly for organic shrimp.

However, innovation is offsetting these risks. Recirculating aquaculture systems (RAS), AI-enabled farm monitoring, advanced hatchery feeds, and cold-chain investments are improving resilience and productivity. Demand is also rising for organic, antibiotic-free, and traceable shrimp, creating premium growth opportunities. E-commerce and direct-to-consumer seafood distribution are further expanding market access.

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Competitive Landscape

The global shrimp market is led by vertically integrated players with strong farming, processing, and distribution networks. Key companies include Charoen Pokphand Food PCL, Thai Union Frozen Products PLC, Nissui, Marine ASA, and Gulf Shrimp Company. Regional specialists and emerging players are gaining traction by focusing on sustainability, traceability, and niche product positioning.

Leading Manufacturers in the Shrimp Market

• Charoen Pokphand Food PCL
• The Clover Leaf Seafoods Family
• Nissui (Nippon Suisan Kaisha, Ltd.)
• Marine ASA
• Gulf Shrimp Company
• Thai Union Frozen Products PLC
• Baton Rouge Shrimp Company, Inc.
• Pescanova S.A.
• Labrador Fishermen's Union Shrimp Company Ltd.
• Omarosa S.A.
• MSeafood Corp

Browse Related Insights

USA Shrimp Market: https://www.futuremarketinsights.com/reports/united-states-shrimp-market

Korea Shrimp Market: https://www.futuremarketinsights.com/reports/demand-and-trends-analysis-of-shrimp-in-korea

Europe Shrimp Market: https://www.futuremarketinsights.com/reports/europe-shrimp-market

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