Shrimp are marine crustaceans found in nearly every environment around the world. Shrimp have high levels of omega-3 fatty acids and low levels of mercury. They are also high in calcium, iodine and protein but low in food energy. Though, shrimp-based meals are high in cholesterol, shrimp consumption is considered healthy for the circulatory system, since it lacks significant levels of saturated fat which in fact improves the ratio of LDL to HDL cholesterol and lowers triglycerides.
Major factors fueling growth of the global shrimp market include abundance of shrimps at low price and increasing awareness among consumers regarding high nutritional content of shrimps. Shrimp have high content of antioxidant astaxanthin, which reduces chances of premature. Shrimp are also considered as a carbohydrate-free food and helps in weight management, owing to their high zinc and iodine content. Selenium content in shrimps reduces the risk of prostate and lung cancer. In addition, easy availability of large varieties of shrimps such as whiteleg shrimps, tiger shrimps, blue shrimps, and red shrimps is further propelling growth of the global shrimp market.
However, threat of contagious diseases that might affect the population of shrimp and other aquatic animals is a major concern with producers. Moreover, adverse weather conditions may also affect the capture production of shrimp and hamper the supply cycle from producers side. These factors are expected to challenge growth of the global shrimp market to a certain extent.
The global shrimp market is segmented on the basis of source type, species, form, distribution channel, end-users, and region. On the basis of forms, the global market is segmented into frozen, canned, peeled, cooked, and shell-on. The frozen segment dominated the market in 2016, owing to hectic lifestyles of consumers which is fueling demand for ready-to-eat frozen food products.
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On the basis of region, the global market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The market in Asia Pacific accounts for highest share and is expected to witness highest growth over the forecast period in the global market. The market in North America is expected to witness significant growth over the forecast period.
Key players in the global market are Cargill Inc., Nippon Suisan Kaisha Ltd, Pacific Seafood, Morubel NV, Maruha Nichiro Corporation, The Clover Leaf Seafoods Family, Royal Greenland A/S, Rich Products Corporation, Thai Union Group PCL, and Marvesta Shrimp Farms.