Shrimp Market is estimated to be US$ 59.49 billion by 2030 with a CAGR of 8.2% during the forecast period

A shrimp can be defined as a small-sized marine crustacean with an elongated body, typically consumed as food, hence, is of high commercial importance. Shrimp species, such as white leg shrimp, giant tiger shrimps, gulf shrimps, blue shrimps, and royal red shrimps, are the most popular varieties that are consumed all over the world. As it is a rich source of calcium, iodine, vitamin D and B3, zinc, protein, and omega-3 fatty acids, it is widely used to aid weight loss, lower blood pressure, relieve eye fatigue, improve bone and brain health, and reduce the risk of developing cardiovascular disease. Growth in the demand for seafood products is a major factor driving the market of a wide variety of shrimp species. Globally, consumers are changing their food habits by opting for healthier food products such as shrimps, salmon and tuna. Seafood is considered a healthy source of animal protein over other meat products, which is enhancing the global demand for shrimps. Growing urban population in emerging economies is driving the demand for seafood products. Moreover, the rising tendency of spending on seafood products is expected to drive the demand for various species of shrimps during the forecast period. Moreover, the setting up of a variety of food-processing plants by manufacturers in various regions is expected to boost the demand for seafood products. The regulations governing the setting up of these plants in various regions are favorable, which is likely to contribute to the growth of the species segment in the global shrimp market.

Siju Thomas ∙

Lvl 2

∙ 2y ago