Tiger Prawn Market to Reach USD 24.37 Billion by 2032 | CAGR 3.17% Growth Forecast

Tiger Prawn Market Overview:

Tiger Prawn Market was valued at approximately 18.41 billion in 2023 and is projected to increase to 18.99 billion in 2024. By 2032, the market is anticipated to reach around 24.37 billion, reflecting a steady growth rate of about 3.17% during the forecast period from 2024 to 2032.

Tiger prawns (notably Penaeus monodon) are swimming swiftly into the spotlight as a premium seafood staple. As global appetites shift towards healthier, sustainably sourced proteins, the tiger prawn market is buoying economic opportunity for producers, processors, and tech innovators around the world.

Key Companies in the tiger prawn Market Include:

Charoen Pokphand Foods PCL ,CP Foods ,Thai Union Group ,Mitsubishi Corporation ,Guangdong Haid Group ,Dongwon Industries ,Maruha Nichiro Corporation ,Nissui Corporation ,Pacific Andes International Holdings ,Thai President Foods ,Seafresh Industry ,Shiok Meats ,Umami Meats ,BlueNalu ,Avant Meats

Global Growth & Regional Dynamics

Asia-Pacific: India, Thailand, Vietnam, and China dominate both farming and consumption. Growing middle classes, expanding foodservice sectors, and robust export initiatives anchor this region’s leadership.

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North America & Europe: High-income nations show increasing demand for large “Black Tiger” varieties, driven by health-conscious consumers and premium‐seafood trends.

Middle East, Africa & Latin America: Smaller but fast‐growing markets. Urbanisation, tourism, and luxury dining fuel imports, mostly from Asia-Pacific producers.

Driving Demand: Health, Sustainability & Convenience

Health appeal: Tiger prawns are low‑fat, high‑protein, and rich in omega‑3s—traits that spark strong interest from wellness‑oriented consumers.

Sustainability awareness: Consumers are seeking traceable, eco‑certified seafood. Certifications like ASC and MSC have become major purchase drivers, especially in Western markets.

Convenience leaning: Ready‑to‑cook formats—cooked, peeled, marinated, frozen skewers—are trending upward as demand grows for quick, premium seafood at home.

Market Challenges

Environmental concerns: Traditional extensive farming has contributed to mangrove loss and water pollution. Even intensive systems, while life-cycle improved, still raise issues around antibiotic use and effluent discharge.

Disease outbreaks: Pathogens—like White Spot Syndrome Virus and Early Mortality Syndrome—pose serious risks. Tightening biosecurity is vital.

Price volatility & trade barriers: Feed cost fluctuation, climate impacts, and regional tariffs (e.g., US‑China, EU antibiotic limits) challenge profitability.

Innovation & Technological Trends

1. a) Advanced Aquaculture Systems: Recirculating Aquaculture Systems (RAS) and biofloc technologies provide high yield with lower wastewater and improved disease control.

Closed-loop indoor shrimp farms, now expanding beyond U.S. pilot sites into Southeast Asia, are gaining traction thanks to ecological benefits.

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1. b) Digital & AI-Driven Tools: IoT sensors, ML forecasting, and smart feeders improve pond management, water quality, feed efficiency, and early disease detection.

Examples: IoT‐based environmental systems, Transformer‑based water quality anomaly prediction, computer‑vision headsets for daily prawn growth sampling.

1. c) Traceability & Blockchain: Digital ledgers and IoT tracking ensure farm‐to‐table transparency. Leading exporters to Europe and North America are investing here.
2. d) Product Innovation: Expansion of premium lines (Skull Island, Black Tiger varieties), alongside value‑added formats—including frozen, marinated, and heat‐and‑eat options.

The tiger prawn market is poised at a transformative inflection point. Driving growth are rising global demand for nutritious proteins, premiumization trends, and a decisive shift toward sustainability. Yet, environmental pressures, disease risks, and global supply-chain volatility remain real.

Still, innovation offers a beacon of hope: from RAS and biofloc systems to AI-powered farm monitoring, blockchain traceability, and D2C e-commerce platforms. Producers embracing tech integration and sustainable branding are likely to capture expanding market share.

In sum, the tiger prawn industry is no longer just a harvest—it’s a high‑tech, sustainability‑focused spectacle. The winners will be those who balance operational efficiency with environmental stewardship, delivering traceable, premium products that today’s global consumers demand. A new era is dawning—and tiger prawns are riding its crest.

Table of Contents

SECTION I: EXECUTIVE SUMMARY AND KEY HIGHLIGHTS

SECTION II: SCOPING, METHODOLOGY AND MARKET STRUCTURE

SECTION III: QUALITATIVE ANALYSIS

SECTION IV: QUANTITATIVE ANALYSIS

SECTION V: COMPETITIVE ANALYSIS ........

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