The Shrimp Market 2021-2027 research report analyzes the current as well as future aspects of the industry & presents leading regions, growth trends & strategies of the key players which is bound to impact the global Shrimp industry share in various end-use applications.
The research analyst provides comprehensive data, which enhances the growth of the industries. This report focuses on the basic requirement strategies of the businesses, which helps to enlarge the productivity. Additionally, it offers different market segments, such as application, types, size, end-users, cost, etc.
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Shrimps are classified as decapod crustaceans that play important roles in the food chain and are an important food source for larger animals ranging from fish to whales. Humans consume the muscular tails of several shrimp that are widely caught and farmed for consumption. Around 20% 0f the species are commercially significant that include Whiteleg, giant tiger prawn, akiami paste shrimp, southern rough shrimp, and others.
High nutritional benefits of shrimp along with increasing applications of chitosan and pigments obtained from shrimp are driving growth of the shrimp market. Moreover, growing consumption of seafood and increasing aquaculture industry are further fuelling growth of the shrimp market. For instance, according to United Nations Food and Agriculture Organization (UN FAO) survey in July 2016, the global per capita seafood consumption increased above 20 kg per person per year.
According to UN FAO, the total marine capture production was highest in China at 14,811,390 tons in 2014, which increased by 3.4% to 15,314,000 in 2015. China, followed by Indonesia, with total marine capture production of 6,016,525 tones, which increased by 0.2% to 6,028,260 tons in 2015. Further, according to FAO, in 2016, the Ministry of Agriculture and Rural Development in Vietnam, had reported the total production of black tiger shrimps in the Mekong Delta area to be 250,000 tones. These are the factors largely contributing to growth of shrimp market in Asia Pacific.
Food segment was the largest application segment in 2016, owing to growing demand from restaurants and fast food chains for shrimps along with rising popularity of frozen and canned shrimps. According to the UN FAO, the global aquaculture production of food fish was recorded to 73,681 thousand units in 2014. In addition, shrimps have high content of omega-3 fat including EPA (Eicosapentaenoic Acid) and DHA (Docosahexaenoic Acid), which aids in improving cardiovascular and nervous system health. Rising awareness regarding health benefits of consuming omega-3 ingredients and fish-oil as food supplement is anticipated to boost growth of the food segment over the forecast period.
Market players in the global shrimp market are adopting various strategies such as merger and acquisitions, collaborations, and new product launches to retain their market share. For instance, in February 2014, Marubeni Corporation acquired Eastern Fish Company. In June 2017, BioMar Group acquired 70% of Alimentsa for US$ 121 million; and in October 2014, Alkame Holdings, Inc. acquired High Country Shrimp Company. Also, in July 2017, Guangdong Bai Da Science & Technology launched BD shrimp brand in China.
Major players operating in the global shrimp market are Pacific Seafood, Morubel nv, Maruha Nichiro Corporation, The Clover Leaf Seafoods Family, Royal Greenland A/S, Rich Products Corporation, Thai Union Group PCL, Marvesta Shrimp Farms, Cargill, Incorporated, and Nippon Suisan Kaisha Ltd.
[Note: *The PDF Brochure Includes
1) Table of Content (ToC),
2) Research Framework of the actual report, and
3) Research Methodology adopted for it.]
Important Information that can be extracted from the Report:
♦ Assessment of the COVID-19 impact on the growth of the Shrimp Market
♦ Successful market entry strategies formulated by emerging market players
♦ Pricing and marketing strategies adopted by established market players
♦ Country-wise assessment of the Shrimp Market in key regions
♦ Year-on-Year growth of each market segment over the forecast period 2027
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In Addition, The Years Considered For The Study Are As Follows:
Historical year – 2014 to 2018
Base year – 2019
Forecast period – 2020 to 2026
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