LONDON–(BUSINESS WIRE)–The global shrimp market size is expected to grow by USD 4.89 billion as per Technavio. This marks a significant market growth compared to the 2019 growth estimates due to the impact of the COVID-19 pandemic in the first half of 2020. Moreover, steady growth is expected to continue throughout the forecast period, and the market is expected to grow at a CAGR of 3%. Request Free Sample Report on COVID-19 Impacts
Read the 120-page report with TOC on “Shrimp Market Analysis Report by Product (frozen shrimp, canned shrimp, and others) and Geography (Europe, North America, APAC, South America, and MEA), and the Segment Forecasts, 2020-2024”.
https://www.technavio.com/report/shrimp-market-industry-analysis
The market is driven by the health benefits of shrimp. In addition, the initiatives to increase shrimp production are anticipated to boost the growth of the Shrimp Market.
Shrimp is a rich source of protein, zinc, iron, and vitamin D. The presence of zinc in shrimp helps in increasing leptin levels in the human body. Astaxanthin, a carotenoid, present in shrimp, acts as a powerful antioxidant. In addition, the presence of zinc helps in reducing the signs of aging related to ultraviolet A (UVA) and sunlight. Further, shrimp also helps in improving comprehension, memory, and concentration as it contains iron, which increases the oxygen flow to the brain. The low carbohydrate and calorie content in shrimp aids in weight reduction. Such health benefits will be a key driver for market growth during the forecast period.
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Major Five Shrimp Companies:
Caribbean Shrimp Co. Ltd
Caribbean Shrimp Co. Ltd offers organic shrimp and informative tours for farm visitors. The company offers fresh organic shrimp that is available in different packaging sizes.
Charoen Pokphand Foods Plc
Charoen Pokphand Foods Plc has business operations under two segments: livestock business and aquaculture business. Through the livestock business segment, the company offers chicken, duck and pigs. The company offers shrimp and fish through aquaculture segment.
Cooke Aquaculture Inc.
Cooke Aquaculture Inc. operates in key business segments including Aquaculture and Fisheries. The company offers shrimp under the brands, SEAJOY and Wanchese.
Grand Ocean Seafoods Co. Ltd
Grand Ocean Seafoods Co. Ltd has business operations under three segments: farm raised, sea caught, and squids & others. The company offers shrimp in different quantities.
Liveris Afentoulis & Co.
Liveris Afentoulis & Co. offers different types of sea fish such as Octopus, Anchovy, Sardine, among various others. The company offers different types of shrimp such as Black shrimp and Red shrimp.
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Shrimp Market Product Outlook (Revenue, USD bn, 2020-2024)
- Frozen shrimp – size and forecast 2019-2024
- Canned shrimp – size and forecast 2019-2024
- Others – size and forecast 2019-2024
Shrimp Market Regional Outlook (Revenue, USD bn, 2020-2024)
- Europe – size and forecast 2019-2024
- North America – size and forecast 2019-2024
- APAC – size and forecast 2019-2024
- South America – size and forecast 2019-2024
- MEA – size and forecast 2019-2024
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