Description
The global shrimp market was valued at USD 82.3 billion in 2025 and is projected to reach USD 128.7 billion by 2032, growing at a CAGR of 6.6% during the forecast period. The market encompasses farmed and wild-caught shrimp sold in fresh, frozen, cooked, canned, peeled, breaded, and value-added forms for retail, foodservice, and industrial applications. Shrimp remains one of the most widely consumed seafood products globally due to its high protein content, low fat composition, and versatility across cuisines. Rising consumer preference for healthy protein sources, expanding aquaculture production, increasing seafood consumption, and the growing popularity of convenience foods are key factors driving market growth. In addition, the rapid expansion of cold chain infrastructure, international seafood trade, and modern retail channels continues to strengthen global shrimp demand.
Market expansion is further supported by technological advancements in aquaculture, sustainable shrimp farming practices, improved disease management, and increasing investments in seafood processing. Manufacturers are introducing value-added shrimp products, including ready-to-cook, marinated, and ready-to-eat offerings, to meet evolving consumer lifestyles. Rising demand from quick-service restaurants (QSRs), hotels, and foodservice establishments is further accelerating market growth. Asia Pacific dominates global shrimp production and consumption owing to its extensive aquaculture industry and export capabilities, while North America remains a major import market driven by strong retail and foodservice demand.
Key Highlights of the Report
• By source, aquaculture dominates the global shrimp market, driven by higher production volumes, improved farming technologies, and increasing demand for year-round shrimp supply.
• Wild-caught shrimp continues to witness steady demand, particularly in premium seafood and specialty food markets.
• By species, whiteleg shrimp (Litopenaeus vannamei) accounts for the largest market share, owing to its high productivity, disease resistance, and widespread commercial farming.
• Tiger shrimp is projected to witness notable growth, supported by increasing premium seafood consumption and export demand.
• By form, frozen shrimp dominates the global market, reflecting its extended shelf life, ease of transportation, and widespread retail availability.
• Ready-to-cook and value-added shrimp products are expected to record the fastest growth, driven by increasing consumer preference for convenient meal solutions.
• By distribution channel, B2B accounts for the largest market share, supported by strong demand from restaurants, hotels, food processors, and seafood distributors.
• The B2C segment is projected to witness rapid growth, fueled by expanding supermarket chains, online grocery platforms, and direct-to-consumer seafood sales.
• Growing consumer preference for high-protein and nutrient-rich diets remains one of the primary market drivers, supporting sustained global seafood consumption.
• Expansion of aquaculture production and sustainable farming practices is improving shrimp availability, while helping address rising global demand.
• Technological advancements in cold chain logistics, processing, and packaging are enhancing product quality, extending shelf life, and facilitating international trade.
• Increasing demand from foodservice, hospitality, and quick-service restaurant chains continues to support market growth, particularly for frozen and processed shrimp products.
• By region, Asia Pacific dominates the global shrimp market, supported by large-scale aquaculture production, strong export capacity, and growing domestic seafood consumption.
• North America remains a major consumption market, driven by high seafood imports, increasing retail sales, and growing demand for premium and convenience seafood products.
• The competitive landscape is moderately fragmented, with leading producers focusing on sustainable aquaculture, product innovation, processing capacity expansion, and international distribution partnerships.
• Major companies continue to invest in disease-resistant shrimp farming, traceability technologies, eco-friendly production practices, and value-added seafood products to strengthen their competitive position.
Key Company Profiles
• Blue Star Foods
• Charoen Pokphand Foods (CP Foods)
• High Liner Foods
• Maruha Nichiro Corporation (Umios)
• Minh Phu Seafood Corporation
• Nippon Suisan Kaisha (Nissui)
• Pacific Seafood
• Rich Products Corporation (SeaPak)
• Royal Greenland A/S
• Thai Union Group PCL
Data Source
Apelo Consulting employs comprehensive primary and secondary research techniques in developing distinctive data sets and research material for business reports. This report is built by using data and information sourced from Proprietary Information Database, Primary and Secondary Research Methodologies, and In house analysis by Apelo Consulting dedicated team of qualified professionals with deep industry experience and expertise.
