Global Shrimp Market to Register 6.3% CAGR Through 2024

July 29, 2020

According to the report titled ‘Global Shrimp Market Analysis By Species, By Production Form, By Shrimp Size, By Region, By Country (2019 Edition): Opportunities and Forecast (2014-2024) -? By Shrimp Size, By Region (Americas, Europe, APAC, ROW), By Country available with Market Study Report, global shrimp market is projected to record a y-o-y growth rate of 6.3% during 2019-2024.

Escalating demand for seafood in developing countries, rising urban population, consumer inclination towards healthy & nutritious food, and increasing per capita income are the major growth drivers of global shrimp market. Further, spike in demand for convenience and read-to-eat food products is expected to propel the industry growth in the forthcoming years.

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Notably, L. Vannamei, M. Rosenbergii, and P. Monodon are the major species of shrimp which are commercially available. Shrimps are served to the masses in green/head on, green/head off, peeled, breaded, and cooked form.

As per the regional analysis, global shrimp market is partitioned into Americas, Europe, APAC and Rest of the World. Nations significant to revenue contribution include United States, Canada, United Kingdom, Spain, France, India, and China, among which, China held the largest market share in 2018.

Key players operating in global shrimp market are International Fish Farming Co. PJSC (Asmak), Sirena A/S, Austevoll Seafood ASA, Nippon Suisan Kaisha, American Seafoods, Apex Frozen Foods, Thai Union Group, High Liner Foods Inc., Rich Products Corporation, and Charoen Pokphand Foods.

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