Shrimp Market Size, Share, Growth and Industry Analysis, By Types (Whiteleg Shrimp, Giant Tiger Prawn, Akiami Paste Shrimp, Other), By Applications (Household, Restaurant and Hotel), Regional Insights and Forecast to 2035

Shrimp Market Size

The Global Shrimp Market reached USD 61.51 Billion in 2025 and is projected to grow to USD 64.46 Billion in 2026, further increasing to USD 67.56 Billion by 2027. Long-term forecasts indicate the market will expand to USD 98.3 Billion by 2035, supported by a steady CAGR of 4.8% from 2026 to 2035. Market growth is driven by rising aquaculture output, which contributes nearly 55% of total global supply, while frozen shrimp accounts for about 65% of worldwide exports. The Asia-Pacific region leads the industry with a 52% market share, supported by strong domestic consumption, expanding aquaculture capacity, and growing export activities.

The US Shrimp Market growth is propelled by over 60% of consumers including shrimp in their seafood purchases, with frozen shrimp making up nearly 70% of retail sales. Imports fulfill over 80% of domestic demand, and sustainable shrimp products now account for more than 15% of total seafood offerings in retail and foodservice sectors.

Key Findings

• Market Size: Valued at $61.51Bn in 2025, projected to touch $64.46Bn in 2026 to $98.3Bn by 2035 at a CAGR of 4.8%.
• Growth Drivers: Over 55% aquaculture production, 65% frozen shrimp exports, 52% Asia-Pacific market share, 60% processed segment share, 18% eco-certified growth.
• Trends: 70% Asia-Pacific production dominance, 40% fresh shrimp share, 25% foodservice demand, 15% premium product growth, 30% retail seafood expansion.
• Key Players: Minh Phu Seafood Corp, Thai Union, Santa Priscila, Zhanjiang Guolian, Pescanova & more.
• Regional Insights: Asia-Pacific holds 52% share driven by aquaculture and exports, Europe captures 22% with strong import demand, North America accounts for 16% led by seafood consumption, Middle East & Africa represents 10% fueled by tourism and hospitality sectors.
• Challenges: 60% feed cost share, 15% farm disease impact, 12% raw material cost hikes, 8% production drop risk, 10% biosecurity investment rise.
• Industry Impact: 55% aquaculture-driven output, 65% frozen shrimp trade, 20% sustainability-led exports, 15% loss from diseases, 18% growth in certified products.
• Recent Developments: 20% farm capacity expansion, 18% processed shrimp sales growth, 25% cold storage boost, 15% disease reduction, 12% retail sales uplift.

The shrimp market is characterized by rapid aquaculture adoption, dominance of frozen exports, and strong Asia-Pacific leadership. Consumer preference for sustainable and value-added products continues to reshape industry dynamics.

Shrimp Market Trends

The global shrimp market is experiencing significant expansion, fueled by increasing consumer demand for seafood and protein-rich diets. Aquaculture now contributes over 55% of global shrimp supply, while wild-caught shrimp accounts for around 45%. Asia-Pacific leads the production landscape with nearly 70% market share, dominated by China, India, and Vietnam. The processed shrimp category holds more than 60% share, driven by consumer preference for convenience and longer shelf life, while fresh shrimp maintains around 40% share. Frozen shrimp dominates exports, representing over 65% of shipments globally. Sustainability trends are rising fast, with eco-certified shrimp production growing above 15% annually, influencing purchasing behavior in retail and foodservice channels.

Shrimp Market Dynamics

DRIVERS

Rising Global Seafood Consumption

Over 65% of households worldwide include seafood in their weekly meals, with shrimp making up nearly 25% of total seafood consumption. Quick-service restaurant chains have expanded shrimp-based menu items by more than 30%, driving strong demand in both developed and emerging economies.

OPPORTUNITY

Expansion of Sustainable Aquaculture

More than 50% of shrimp farms are transitioning to sustainable aquaculture practices, with certified farms achieving a 20% higher export acceptance rate. Demand for eco-labeled shrimp in Europe and North America has surged by over 18%, creating strong opportunities for producers focusing on environmentally responsible methods.

RESTRAINTS

"Fluctuations in Raw Material Costs"

Feed accounts for nearly 60% of shrimp farming costs, and price fluctuations in fishmeal and soybean have caused cost increases exceeding 12% in some regions. This impacts farmer profitability and can reduce production output by up to 8% annually for smaller operators.

CHALLENGE

"Disease Outbreaks in Shrimp Farming"

More than 15% of shrimp farms face disease outbreaks annually, leading to production losses of up to 20% in severely affected areas. Inadequate biosecurity and poor water quality management continue to pose major challenges, requiring farmers to invest 10-15% more in preventive measures.

Segmentation Analysis

The global shrimp market, valued at USD 61.51 Billion in 2025, is segmented by type into Whiteleg Shrimp, Giant Tiger Prawn, Akiami Paste Shrimp, and Other species. Each segment contributes a distinct share to the overall market, with varying growth rates based on consumer preferences, production volumes, and export potential. Whiteleg Shrimp dominates the market due to high aquaculture yields, while Giant Tiger Prawn holds strong demand in premium seafood markets. Akiami Paste Shrimp serves niche processing industries, and the Other category includes regional shrimp varieties catering to local consumption patterns.

By Type

Whiteleg Shrimp

Whiteleg shrimp is the most commercially cultivated species globally, favored for its rapid growth rate, adaptability to diverse farming conditions, and consistent quality. It enjoys strong demand across foodservice and retail sectors due to its versatility and cost-effectiveness.

Whiteleg Shrimp Market Size was USD 26.05 Billion in 2025, representing 42.35% of the total market. This segment is expected to grow at a CAGR of 5.1% from 2025 to 2034, driven by intensive aquaculture adoption, high yield efficiency, and export demand from Asia-Pacific and North America.

Major Dominant Countries in the Whiteleg Shrimp Segment

• China led the Whiteleg Shrimp segment with a market size of USD 7.81 Billion in 2025, holding a 30% share and expected to grow at a CAGR of 5.3% due to advanced farming technologies and export capacity.
• India recorded USD 6.25 Billion in 2025, holding a 24% share and projected to grow at a CAGR of 5.4% owing to large-scale aquaculture expansion and rising global demand.
• Vietnam posted USD 4.95 Billion in 2025, representing a 19% share and set to grow at a CAGR of 5.0% driven by sustainable farming initiatives and strong trade relationships.

Giant Tiger Prawn

Giant Tiger Prawn is valued for its large size, rich flavor, and premium positioning in high-end seafood markets. It is widely consumed in both fresh and frozen forms, with strong popularity in Asian cuisine and gourmet dining.

Giant Tiger Prawn Market Size was USD 15.38 Billion in 2025, representing 25% of the total market. This segment is anticipated to expand at a CAGR of 4.6% between 2025 and 2034, driven by increasing demand in luxury hospitality and expanding aquaculture capacities in Southeast Asia.

Major Dominant Countries in the Giant Tiger Prawn Segment

• Thailand led the Giant Tiger Prawn segment with USD 4.15 Billion in 2025, capturing a 27% share and projected to grow at a CAGR of 4.7% due to strong export channels and quality-focused farming.
• Indonesia achieved USD 3.84 Billion in 2025, holding a 25% share and set to grow at a CAGR of 4.5% driven by coastal aquaculture development and global market penetration.
• Malaysia reported USD 2.92 Billion in 2025, with a 19% share and an expected CAGR of 4.4% owing to government-backed aquaculture projects and increasing exports to China and Japan.

Akiami Paste Shrimp

Akiami Paste Shrimp caters primarily to processing industries, where it is used for shrimp paste, sauces, and value-added seafood products. Its smaller size makes it ideal for mass processing and packaged seafood applications.

Akiami Paste Shrimp Market Size was USD 9.84 Billion in 2025, accounting for 16% of the total market. This segment is projected to grow at a CAGR of 4.2% from 2025 to 2034, supported by rising processed seafood consumption and export-oriented manufacturing in Asia.

Major Dominant Countries in the Akiami Paste Shrimp Segment

• Philippines led the Akiami Paste Shrimp segment with USD 2.56 Billion in 2025, holding a 26% share and expected to grow at a CAGR of 4.3% due to strong local demand and export competitiveness.
• Myanmar posted USD 2.26 Billion in 2025, representing a 23% share and forecast to grow at a CAGR of 4.1% driven by coastal aquaculture expansion and rising Asian demand.
• Bangladesh recorded USD 1.87 Billion in 2025, capturing a 19% share and set to grow at a CAGR of 4.0% due to increased shrimp paste exports and favorable farming conditions.

Other

The “Other” category includes regional shrimp species such as Kuruma shrimp and Northern pink shrimp, primarily consumed in local markets and specialty seafood segments. They serve niche preferences in Europe, North America, and Japan.

Other Shrimp Market Size was USD 10.24 Billion in 2025, accounting for 16.65% of the total market. This segment is estimated to grow at a CAGR of 4.5% through 2034, driven by specialty seafood demand, seasonal fishing patterns, and gourmet restaurant adoption.

Major Dominant Countries in the Other Segment

• Japan led the Other Shrimp segment with USD 3.07 Billion in 2025, holding a 30% share and forecast to grow at a CAGR of 4.6% driven by premium seafood culture and import reliance.
• Norway reached USD 2.46 Billion in 2025, capturing a 24% share and expected to grow at a CAGR of 4.4% due to advanced cold-water fishing and export capability.
• United States registered USD 1.95 Billion in 2025, representing a 19% share and set to grow at a CAGR of 4.5% fueled by rising demand for specialty seafood in retail and foodservice.

By Application

Household

The household segment represents a significant portion of shrimp consumption, driven by rising home cooking trends, availability of packaged frozen shrimp, and preference for protein-rich diets. Increasing penetration of e-commerce and retail distribution channels has made shrimp more accessible for domestic use.

Household Shrimp Market Size was USD 22.55 Billion in 2025, representing 36.65% of the total market. This segment is projected to grow at a CAGR of 4.6% from 2025 to 2034, driven by growing health awareness, convenience in preparation, and the rising popularity of ready-to-cook seafood products.

Major Dominant Countries in the Household Segment

• United States led the Household segment with a market size of USD 5.87 Billion in 2025, holding a 26% share and expected to grow at a CAGR of 4.7% due to high per capita seafood consumption and preference for frozen shrimp.
• China posted USD 5.18 Billion in 2025, representing a 23% share and forecast to grow at a CAGR of 4.6% due to increasing middle-class incomes and expanding retail seafood availability.
• Japan recorded USD 4.06 Billion in 2025, capturing an 18% share and projected to grow at a CAGR of 4.5% driven by traditional seafood-based diets and strong domestic demand.

Restaurant

The restaurant segment benefits from the growing dining-out culture, with shrimp being a popular choice in seafood platters, Asian cuisine, and fine dining establishments. High-margin shrimp dishes contribute to profitability in both casual and premium dining outlets.

Restaurant Shrimp Market Size was USD 20.93 Billion in 2025, accounting for 34% of the total market. This segment is expected to grow at a CAGR of 5.0% from 2025 to 2034, fueled by urban lifestyle changes, expanding foodservice sectors, and global culinary diversification.

Major Dominant Countries in the Restaurant Segment

• China led the Restaurant segment with USD 6.07 Billion in 2025, holding a 29% share and projected to grow at a CAGR of 5.1% due to expanding seafood restaurant chains and high consumer spending on dining out.
• United States registered USD 5.23 Billion in 2025, representing a 25% share and expected to grow at a CAGR of 5.0% driven by menu diversification and demand for sustainable shrimp sourcing.
• India achieved USD 3.55 Billion in 2025, holding a 17% share and forecast to grow at a CAGR of 5.2% due to rising disposable incomes and increased presence of international seafood dining chains.

Hotel

The hotel segment consumes shrimp primarily in buffet services, banquets, and luxury dining, where premium quality and large-sized shrimp varieties are preferred. Tourism growth directly impacts shrimp demand in this segment.

Hotel Shrimp Market Size was USD 18.03 Billion in 2025, representing 29.35% of the total market. This segment is anticipated to grow at a CAGR of 4.7% from 2025 to 2034, driven by international travel recovery, luxury hospitality expansion, and demand for gourmet seafood experiences.

Major Dominant Countries in the Hotel Segment

• Thailand led the Hotel segment with USD 4.14 Billion in 2025, holding a 23% share and expected to grow at a CAGR of 4.8% due to tourism-driven hospitality demand and seafood-rich culinary traditions.
• United Arab Emirates posted USD 3.26 Billion in 2025, representing an 18% share and forecast to grow at a CAGR of 4.9% owing to luxury hotel expansions and high tourist influx.
• Spain recorded USD 2.88 Billion in 2025, holding a 16% share and projected to grow at a CAGR of 4.7% due to strong coastal tourism and demand for premium seafood in Mediterranean cuisine.

Shrimp Market Regional Outlook

The global shrimp market, valued at USD 61.51 Billion in 2025, is geographically segmented into North America, Europe, Asia-Pacific, and Middle East & Africa. Asia-Pacific dominates with the highest production and consumption share, followed by Europe and North America, while Middle East & Africa is emerging as a fast-growing market. Combined, these regions represent 100% of the global shrimp market distribution, reflecting varied consumption patterns, aquaculture practices, and trade dynamics across each territory.

North America

North America is a significant consumer market for shrimp, driven by high per capita seafood consumption, strong retail penetration, and demand for sustainably sourced products. Imports form the backbone of supply, with major contributions from Asia-Pacific exporters. Frozen shrimp remains the dominant category in this region’s seafood segment.

North America Shrimp Market Size was USD 9.84 Billion in 2025, representing 16% of the total market. This segment is expected to grow at a CAGR of 4.5% from 2025 to 2034, driven by health-conscious diets, premium seafood offerings, and foodservice sector expansion.

North America - Major Dominant Countries in the Shrimp Market

• United States led North America with a market size of USD 6.21 Billion in 2025, holding a 63% share and expected to grow at a CAGR of 4.6% due to high seafood imports and diverse culinary demand.
• Canada posted USD 2.15 Billion in 2025, capturing a 22% share and forecast to grow at a CAGR of 4.4% owing to rising frozen seafood sales and preference for certified sustainable products.
• Mexico recorded USD 1.48 Billion in 2025, holding a 15% share and projected to grow at a CAGR of 4.3% due to aquaculture growth and increasing domestic consumption.

Europe

Europe is a strong importer of shrimp, with consumption driven by retail chains, gourmet dining, and seafood-based diets. Demand for eco-certified shrimp is rapidly increasing, particularly in Northern and Western Europe, while Southern Europe benefits from high tourism-related seafood sales.

Europe Shrimp Market Size was USD 13.53 Billion in 2025, representing 22% of the total market. This segment is expected to grow at a CAGR of 4.6% from 2025 to 2034, driven by sustainable sourcing policies, strong retail seafood offerings, and premium product preferences.

Europe - Major Dominant Countries in the Shrimp Market

• Germany led Europe with USD 4.06 Billion in 2025, holding a 30% share and projected to grow at a CAGR of 4.6% due to rising imports and retail seafood promotions.
• Spain posted USD 3.38 Billion in 2025, representing a 25% share and expected to grow at a CAGR of 4.5% supported by tourism-driven hospitality demand.
• France recorded USD 2.70 Billion in 2025, capturing a 20% share and forecast to grow at a CAGR of 4.4% due to strong gourmet seafood culture and demand for high-quality imports.

Asia-Pacific

Asia-Pacific is the largest shrimp producer and exporter globally, accounting for the majority of aquaculture output. High domestic consumption, coupled with large-scale exports, makes it the market leader. Countries in this region are investing heavily in sustainable farming and processing facilities.

Asia-Pacific Shrimp Market Size was USD 32.00 Billion in 2025, representing 52% of the total market. This segment is expected to grow at a CAGR of 5.0% from 2025 to 2034, driven by large-scale aquaculture, expanding export networks, and rising domestic seafood consumption.

Asia-Pacific - Major Dominant Countries in the Shrimp Market

• China led Asia-Pacific with USD 9.92 Billion in 2025, holding a 31% share and expected to grow at a CAGR of 5.2% due to advanced aquaculture systems and strong domestic demand.
• India posted USD 8.00 Billion in 2025, representing a 25% share and forecast to grow at a CAGR of 5.1% owing to large-scale export operations.
• Vietnam recorded USD 5.44 Billion in 2025, capturing a 17% share and projected to grow at a CAGR of 4.9% due to sustainable farming practices and strong trade relations.

Middle East & Africa

Middle East & Africa is an emerging shrimp market, with rising imports meeting growing consumer demand. Tourism, hospitality, and premium dining are key drivers, while some coastal nations are investing in domestic aquaculture to reduce import dependency.

Middle East & Africa Shrimp Market Size was USD 6.14 Billion in 2025, representing 10% of the total market. This segment is expected to grow at a CAGR of 4.7% from 2025 to 2034, driven by tourism sector growth, rising disposable incomes, and premium seafood demand.

Middle East & Africa - Major Dominant Countries in the Shrimp Market

• United Arab Emirates led Middle East & Africa with USD 2.14 Billion in 2025, holding a 35% share and expected to grow at a CAGR of 4.8% due to tourism-driven hospitality demand.
• Saudi Arabia posted USD 1.84 Billion in 2025, representing a 30% share and forecast to grow at a CAGR of 4.7% with growing hotel and restaurant demand.
• South Africa recorded USD 1.23 Billion in 2025, holding a 20% share and projected to grow at a CAGR of 4.6% due to rising seafood consumption in urban markets.

List of Key Shrimp Market Companies Profiled

Investment Analysis and Opportunities in Shrimp Market

The shrimp market offers diverse investment opportunities, supported by growing aquaculture adoption, rising consumer demand, and expanding export potential. Over 55% of global production comes from aquaculture, making sustainable farming a high-return sector. More than 60% of shrimp exports are frozen, indicating opportunities in cold chain logistics and processing technology. Asia-Pacific accounts for 52% of total market share, attracting investors to large-scale farming and processing hubs in China, India, and Vietnam. Additionally, over 18% growth in eco-certified shrimp sales in developed markets highlights opportunities in premium product lines. Strategic partnerships between producers and retail chains can enhance market penetration, while investments in disease-resistant shrimp breeding programs offer long-term supply stability.

New Products Development

Innovation in shrimp products is driving market competitiveness, with over 40% of leading companies introducing value-added shrimp formats in recent years. Ready-to-cook and marinated shrimp products now account for 25% of processed shrimp sales, appealing to time-conscious consumers. Flavored and seasoned shrimp offerings have grown by more than 15%, especially in Western markets. Health-focused developments, such as low-sodium and preservative-free shrimp, are capturing niche customer segments, representing nearly 10% of premium product demand. Advances in packaging technology have also boosted shelf life by up to 30%, reducing waste and enhancing export efficiency. Product diversification into snackable shrimp formats is creating new retail opportunities worldwide.

Recent Developments

• Minh Phu Seafood Corp: Expanded its sustainable shrimp farming capacity by 20% through the integration of eco-friendly pond systems, reducing environmental impact while meeting rising global demand.
• Thai Union: Launched a new line of ready-to-eat shrimp meals, increasing its processed shrimp category sales by 18% within six months of market entry.
• Santa Priscila: Invested in advanced cold storage facilities, enhancing export efficiency and increasing frozen shrimp shipment capacity by 25% year-over-year.
• Zhanjiang Guolian: Implemented disease-resistant shrimp breeding programs, reducing mortality rates by 15% and boosting overall production yields.
• Pescanova: Introduced innovative shrimp snack packs targeting younger consumers, contributing to a 12% rise in retail sales in select European markets.

Report Coverage

The shrimp market report provides a comprehensive analysis of industry trends, covering production, consumption, trade, and technological advancements across major regions. The study evaluates market segmentation by type, application, and geography, offering detailed insights into each category’s share of the global market. Asia-Pacific dominates with 52% market share, followed by Europe at 22%, North America at 16%, and Middle East & Africa at 10%. The report profiles key industry players, outlining their market positions, product offerings, and strategic initiatives. It also examines drivers such as the 55% contribution of aquaculture to total production, as well as restraints like fluctuating feed costs, which account for 60% of farming expenses. Opportunities in sustainable aquaculture, accounting for over 18% growth in certified products, are highlighted alongside challenges like disease outbreaks affecting 15% of farms annually. The coverage includes investment landscapes, product development trends, regulatory frameworks, and competitive benchmarking, enabling stakeholders to make informed business decisions.