Shelled Shrimp Market Investigation & Industry Evolution and forecast till 2031
The global market overview of the "Shelled Shrimp Market" provides a unique perspective on the key trends influencing the industry worldwide and in major markets. Compiled by our most experienced analysts, these global industrial reports offer insights into critical industry performance trends, demand drivers, trade dynamics, leading companies, and future trends. The Shelled Shrimp market is projected to experience an annual growth rate of 10.50% from 2024 to 2031.
Shelled Shrimp and its Market Introduction
Shelled shrimp refers to shrimp that has been peeled and deveined, leaving only the tender meat for consumption. The purpose of shelled shrimp is to provide convenience to consumers by eliminating the need for time-consuming preparation. Shelled shrimp can be easily added to a variety of dishes such as pasta, stir-fries, salads, and more.
The advantages of shelled shrimp include saving time in the kitchen, as well as reducing the mess and hassle of peeling and deveining the shrimp. Additionally, shelled shrimp has a longer shelf life compared to unshelled shrimp, making it a preferred choice for many consumers.
The shelled shrimp market is expected to grow at a CAGR of % during the forecasted period. This growth can be attributed to the increasing demand for convenient and ready-to-cook seafood products, as well as the rising popularity of seafood consumption worldwide.
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Shelled Shrimp Market Segmentation
The Shelled Shrimp Market Analysis by Types is Segmented into:
By Process
Cooked Type
Raw Type
By species
Whiteleg Shrimp
Giant Tiger Prawn
Akiami Paste Shrimp
Other
Shelled shrimp can be categorized based on the process they undergo, such as cooked or raw. Cooked types include Whiteleg shrimp, Giant Tiger Prawn, and Akiami Paste Shrimp, while other types are categorized by species. Each type offers unique flavors and textures, appealing to different consumer preferences. This variety boosts demand in the shrimp market as it caters to a wide range of tastes and culinary uses, making shrimp a versatile and popular choice in seafood consumption.
The Shelled Shrimp Market Industry Research by Application is Segmented into:
Household
Restaurant and Hotel
Others
Shelled shrimp is commonly used in households for cooking various dishes such as stir-fries, pastas, and salads. In restaurants and hotels, shelled shrimp is used in a wide range of seafood dishes, including shrimp cocktails, scampi, and fried shrimp. Other applications include seafood boils, sushi, and shrimp skewers. The fastest growing application segment in terms of revenue is in the food service industry, particularly in upscale restaurants and hotels where shrimp dishes are in high demand due to their versatility and popularity among consumers.
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Shelled Shrimp Market Trends
- Sustainable sourcing: Consumers are increasingly looking for shrimp that is sustainably sourced to minimize environmental impact.
- Technological advancements: Automation and AI are being used to improve production efficiency and reduce costs in the shrimp farming industry.
- Clean label products: Demand for shelled shrimp with minimal additives and preservatives is rising as more consumers prioritize clean eating.
- Convenience products: Ready-to-eat shrimp dishes and pre-cooked shrimp are becoming popular among busy consumers looking for quick meal options.
- Health-conscious choices: Shrimp is a low-fat, high-protein option that is appealing to consumers looking for healthier food choices.
- Industry disruptions: The COVID-19 pandemic has led to disruptions in the supply chain, creating challenges for the shrimp industry but also driving innovation in new distribution channels and online sales platforms.
Overall, the Shelled Shrimp market is expected to grow as consumer preferences and technological advancements continue to shape the industry.
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Geographical Spread and Market Dynamics of the Shelled Shrimp Market
North America:
United States
Canada
Europe:
Germany
France
U.K.
Italy
Russia
Asia-Pacific:
China
Japan
South Korea
India
Australia
China Taiwan
Indonesia
Thailand
Malaysia
Latin America:
Mexico
Brazil
Argentina Korea
Colombia
Middle East & Africa:
Turkey
Saudi
Arabia
UAE
Korea
The global market for shelled shrimp is experiencing significant growth, with North America, specifically the United States and Canada, being major consumers. Europe, including Germany, France, the ., Italy, and Russia, also show strong demand. Asia-Pacific, with countries like China, Japan, South Korea, India, Australia, Indonesia, Thailand, and Malaysia, is a key region for shrimp production and consumption. Latin America, including Mexico, Brazil, Argentina, and Colombia, also plays a significant role in the market. In the Middle East & Africa, countries like Turkey, Saudi Arabia, UAE, and Korea are emerging markets. Key players in the industry include Minh Phu Seafood Corp, Thai Union, Expalsa, Zhanjiang Guolian, Pescanova, Songa, Iberconsa, Conarpesa, Royal Greenland A/S, ProExpo, Quoc Viet, Devi Fisheries, and Nekkanti Sea Foods. These players are capitalizing on factors like rising consumer demand for seafood, increasing health consciousness, and technological advancements to drive their growth in the market.
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Growth Prospects and Market Forecast for the Shelled Shrimp Market
The expected CAGR for the Shelled Shrimp Market is expected to be around % during the forecasted period. Innovative growth drivers for this market include the increasing focus on sustainable and responsible aquaculture practices, the rising demand for shrimp as a popular seafood choice globally, and the growing awareness about the health benefits of consuming shrimp.
To increase the growth prospects of the Shelled Shrimp Market, companies can focus on innovative deployment strategies such as expanding their product offerings to include value-added shrimp products like pre-cooked or pre-seasoned options, exploring new markets and distribution channels to reach a broader customer base, investing in research and development to create premium shrimp varieties, and adopting technology to improve efficiency and sustainability in shrimp farming practices.
Additionally, key trends that can contribute to the growth of the Shelled Shrimp Market include the increasing popularity of online seafood platforms, the rising demand for organic and antibiotic-free shrimp products, and the growing preference for convenience foods that are easy to prepare. By capitalizing on these trends and implementing innovative strategies, companies in the shelled shrimp market can enhance their growth prospects and meet the evolving needs of consumers.
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Shelled Shrimp Market Competitive Landscape
Minh Phu Seafood Corp
Thai Union
Expalsa
Zhanjiang Guolian
Pescanova
Songa
Iberconsa
Conarpesa
Royal Greenland A/S
ProExpo
Quoc Viet
Devi Fisheries
Nekkanti Sea Foods
Minh Phu Seafood Corp is a leading player in the global shelled shrimp market, known for its high-quality products and sustainable practices. The company has a strong presence in key markets such as the US and Europe, and it continues to expand its reach through strategic partnerships and acquisitions. With a focus on innovation and product development, Minh Phu Seafood Corp is well-positioned for future growth in the industry.
Thai Union is another major player in the shelled shrimp market, with a diverse portfolio of seafood products and a strong global distribution network. The company has been investing in technology and sustainability initiatives to maintain its competitive edge and meet changing consumer demands. Thai Union's strong financial performance and market position make it a key player in the industry.
Zhanjiang Guolian is a prominent player in the shelled shrimp market, known for its extensive product range and strong presence in the Asian market. The company has been focusing on expanding its product offerings and distribution channels to drive growth and profitability. With a strong track record of performance and a focus on innovation, Zhanjiang Guolian is poised for continued success in the market.
- Minh Phu Seafood Corp: Sales revenue of $ billion
- Thai Union: Sales revenue of $4.6 billion
- Zhanjiang Guolian: Sales revenue of $2.3 billion
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