India Emerges as Fastest-Growing Shrimp Market with 10.2% CAGR, Boosting Global Seafood Demand

The global shrimp market is forecast to witness remarkable growth, expanding from USD 70.09 billion in 2025 to nearly USD 151.32 billion by 2035, registering a robust CAGR of 8.0%. This surge is fueled by rising consumer preference for seafood, advances in aquaculture technologies, expanding global trade networks, and growing demand for organic and sustainable shrimp products. With evolving dietary patterns and the push toward health-conscious food choices, shrimp has cemented its position as a versatile, nutrient-rich seafood option across global cuisines.

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Market Trends Highlighted

• Increasing consumer preference for protein-rich, low-fat seafood with omega-3 fatty acids.
• Cold-chain and automation innovations enabling reduced spoilage and longer shelf life.
• Growing popularity of Gulf Shrimps, driven by sustainability credentials and premium flavor.
• Expansion of organic and antibiotic-free shrimp farming to meet rising consumer safety concerns.
• Eco-labeling and blockchain traceability reshaping consumer confidence in shrimp supply chains.
• Online and e-commerce platforms fueling sales, particularly in urban markets.

Developments in the Shrimp Industry

• Ecuador exporting 300 kt of farmed shrimp to North America.
• India shipping 200 kt of processed shrimp to EU distribution networks.
• Thailand supplying frozen shrimp to Japan and South Korea.
• China importing raw shrimp from Vietnam for packaging and re-export.
• Automation and IoT-enabled cold chain logistics ensuring efficiency in handling and global shipping.
• Pilot adoption of recirculating aquaculture systems (RAS) and AI-driven farming solutions boosting sustainable production.

Key Takeaways of the Report

• Market Value (2025): USD 70.09 billion
• Projected Market Value (2035): USD 151.32 billion
• CAGR (2025–2035): 8.0%
• Fastest Growing Species: Gulf Shrimps (7.5% CAGR)
• Top Form Segment: Canned Shrimp (80% market share by value in 2025)
• Leading Growth Country: India (10.2% CAGR

Market Drivers

• Rising consumer awareness around health and nutrition fueling demand for lean protein.
• Increasing penetration of ready-to-cook and frozen shrimp products to suit fast-paced lifestyles.
• Global shift toward sustainable aquaculture practices to address ecological concerns.
• Expansion of international seafood trade networks, particularly in Asia-Pacific and North America.
• Premiumization of shrimp products, especially through organic, antibiotic-free, and eco-labeled varieties.

Regional Insights

• Asia Pacific dominates due to extensive aquaculture infrastructure and strong domestic consumption.
• North America witnesses rising shrimp consumption across retail and institutional channels, with strong per-capita intake in the U.S. (3.6 kg annually).
• Europe remains a critical market for processed and organic shrimp imports, driven by food safety and sustainability awareness.
• Latin America, particularly Ecuador, is emerging as a major shrimp export hub due to modern farming methods.

Country-wise CAGR Analysis

• India: 10.2% CAGR (strongest growth, driven by exports and domestic consumption).
• USA: 6.5% CAGR (steady rise in foodservice and frozen shrimp products).
• Germany: 5.3% CAGR (focus on sustainable and organic imports).

Competition Outlook

The global shrimp industry is highly competitive, with established players and emerging regional producers shaping market dynamics. Leading companies include:

• Charoen Pokphand Food PCL
• Thai Union Frozen Products PLC
• Nippon Suisan Kaisha, Ltd.
• Marine Harvest ASA
• Pescanova S.A.
• Baton Rouge Shrimp Company, Inc.
• Gulf Shrimp Company
• Labrador Fishermen’s Union Shrimp Company Ltd.
• Omarosa S.A.
• MSeafood Corp

Emerging firms like Vinnbio India Pvt. Ltd., Ristic GmbH, and Artisanfish LLC are gaining traction with sustainable aquaculture practices, traceability, and niche premium shrimp products.

Key Segmentation of the Shrimp Market

• By Species: Gulf, Farmed Whiteleg, Banded Coral, Royal Red, Giant Tiger, Blue, and Ocean Shrimps
• By Form: Canned, Breaded, Peeled, Cooked & Peeled, Shell-On, Frozen
• By Source: Organic, Conventional
• By Processing: Direct, Indirect (including Modern Trade, Convenience & Specialty Stores, Wholesale, Discount, Online Retail, Others)
• By Application: Food, Pharmaceutical, Cosmetics, Industrial, Biotechnology
• By Region: North America, Latin America, Western & Eastern Europe, South Asia & Pacific, East Asia, Central Asia, Balkans & Baltics, Russia & Belarus, Middle East & Africa

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