Shrimp Market (2025 - 2033) Size, Share & Trends Analysis Report By Species (L. Vannamei, Trachipenaeus Curvirostris), By Source (Wild, Aquaculture), By Form (Green/ Head-off, Green/ Head-on), By Distribution Channel (B2B, B2C), By Region, And Segment Forecasts

Shrimp Market Summary

The global shrimp market size was estimated at USD 75.24 billion in 2024 and is projected to reach USD 121.35 billion by 2033, growing at a CAGR of 5.5% from 2025 to 2033. The growth is primarily driven by rising consumer demand for high-protein, low-fat seafood, increasing popularity of ready-to-cook and frozen shrimp products, and expanding awareness of the health and nutritional benefits of shrimp consumption.

The global demand for seafood, especially shrimp, is increasing as a result of shifting dietary preferences and growing health awareness among consumers. Additionally, heightened awareness of the nutritional benefits of seafood, particularly shrimp, which is rich in essential nutrients such as omega-3 fatty acids and considered a healthier protein source, is further driving the growth of the shrimp industry.

The global shrimp market is propelled by shifting consumer preferences toward premium seafood and gourmet dining experiences. Increasing adoption of sustainable aquaculture practices is attracting environmentally conscious buyers. Technological improvements in breeding and disease control are boosting farm productivity. Additionally, the growth of online seafood retail is expanding market access and convenience for consumers worldwide.

Moreover, the growing demand for convenient and value-added seafood products is boosting shrimp consumption. Expansion of cold chain infrastructure supports wider distribution and longer shelf life. Rising incomes in emerging economies are increasing per capita seafood intake. Supportive government policies and export incentives are encouraging shrimp farming investments.

In addition, the global shrimp industry is experiencing growth due to the rising popularity of high-protein diets and keto-friendly foods. Urbanization and changing lifestyles are driving demand for quick-to-cook, frozen shrimp meals. Tourism and hospitality industry expansion is further increasing shrimp consumption globally. Moreover, international trade liberalization is making shrimp more accessible across diverse markets.

Consumer Insights for Shrimp

Species Insights

The L. vannamei market segment accounted for the largest revenue share of 44.6% in 2024. The segment growth is driven by its fast growth rate, high survival levels, and adaptability to varied farming conditions. Its lower production cost compared to other species makes it highly attractive for commercial aquaculture. Advances in selective breeding have improved disease resistance and yield efficiency. Increasing global demand for affordable, mild-flavored shrimp further supports its dominance in exports. Additionally, government support in key producing countries such as India, Vietnam, and Ecuador is accelerating L. vannamei cultivation. For instance, according to the FAO, 80% of the cultured shrimp produced are of L. vannamei species. Approximately 4.4 million tons of shrimp of L. vannamei were produced.

The P. chinensis market segment is projected to grow at the fastest CAGR of 8.3% from 2025 to 2033. The Penaeus chinensis market is driven by its high commercial value and strong demand in East Asian cuisines, particularly in China, Korea, and Japan. Its larger size and tender texture make it a preferred choice for premium seafood dishes. Regional aquaculture initiatives and research investments are enhancing breeding techniques and disease control for P. chinensis. Coastal farming zones in China are being revitalized to support its cultivation amid sustainability goals. Additionally, rising domestic consumption and export potential are encouraging producers to scale up operations.

Source Insights

The aquaculture shrimp market segment accounted for the largest revenue share of 61.2% in 2024. Farmed shrimp, also known as aquaculture or cultured shrimp, has gained significant popularity in recent years for several key reasons. Aquaculture enables a stable and year-round supply of shrimp, helping to meet the rising global demand. This method of production also reduces the reliance on wild shrimp, easing pressure on natural populations. Since overfishing can lead to the depletion of wild stocks and damage marine ecosystems, shrimp farming offers a potentially more sustainable solution.

The wild shrimp market segment is projected to grow significantly at a CAGR of 4.3% from 2025 to 2033. The segment growth is driven by strong consumer preference for its natural taste, texture, and perceived premium quality. Demand is especially high in gourmet and specialty seafood segments where wild-caught origin adds value. Traditional fishing communities continue to supply established markets, supported by cultural and culinary preferences. Additionally, regulatory efforts promoting sustainable wild catch practices are helping maintain long-term market viability.

Form Insights

The green/ head-on shrimp industry segment accounted for the largest revenue share of around 25.0% in 2024. The growth of the market for green/head-on shrimp is driven by its freshness, visual appeal, and strong demand in traditional and gourmet cooking. Chefs and consumers often prefer head-on shrimp for its richer flavor and suitability in whole-shrimp presentations. It is especially popular in Asian and Mediterranean cuisines, boosting regional and international demand. Additionally, minimal processing appeals to buyers seeking more natural and less altered seafood options.

The breaded shrimp market segment is projected to grow at the fastest CAGR of 5.7% from 2025 to 2033. The segment growth is fueled by growing consumer demand for convenient, ready-to-cook seafood options. Its popularity in fast food and casual dining sectors drives consistent consumption. Innovations in flavor and coating varieties attract a broad customer base. Additionally, increasing frozen food retail availability enhances accessibility and market growth worldwide.

Distribution Channel Insights

The sales of shrimp through B2B distribution channel accounted for the largest global revenue share of 56.1% in 2024. Sales of shrimp through B2B distribution channels are driven by strong demand from foodservice providers, including restaurants, hotels, and catering companies. Bulk purchasing and streamlined supply chains offer cost efficiencies and consistent product availability. Growing institutional consumption and export opportunities further boost B2B sales. Additionally, advancements in cold chain logistics ensure shrimp quality during large-scale distribution.

The sales of shrimp through B2C distribution channel is projected to grow at the fastest CAGR of 5.9% from 2025 to 2033. Sales of shrimp through B2C channels are driven by increasing consumer preference for convenient and ready-to-cook seafood products. The rise of online grocery shopping and home delivery services has expanded accessibility. Health-conscious consumers seeking protein-rich diets also boost direct shrimp purchases. Moreover, effective marketing and attractive packaging enhance product appeal at the retail level. In October 2024, Walmart has launched the North Star Program in collaboration with Ecuadorian shrimp producer Omarsa, feed supplier Skretting, and The source Conservancy (TNC) to promote sustainable shrimp farming. The initiative focuses on clean energy production, deforestation-free soy sourcing, and reducing reliance on marine ingredients to enhance environmental responsibility in the shrimp industry.

Regional Insights

The North America shrimp market accounted for a revenue share of 23.6% in 2024. The growth of the shrimp industry in North America is driven by increasing consumer demand for healthy, protein-rich foods amid growing health awareness. Rising popularity of ethnic cuisines, especially Asian and Latin American, has expanded shrimp consumption. Enhanced cold chain infrastructure ensures shrimp freshness across vast geographies. Sustainability concerns push demand for certified and responsibly sourced shrimp. Additionally, retail innovations and online grocery growth are making shrimp more accessible to a wider audience. In March 2022, Del Pacifico Seafoods LLC, headquartered in Sinaloa, Mexico, known for its expertise in wild-caught Mexican shrimp, introduced a range of sustainably farmed shrimp and oysters at the Seafood Expo North America in Boston, Massachusetts.

U.S. Shrimp Market Trends

The U.S. shrimp industry led North America in 2024 with the largest revenue share of 84.3%. In the U.S., convenience and ready-to-eat shrimp products are major growth drivers, aligning with busy lifestyles and on-the-go eating habits. Food service channels such as fast-casual dining and seafood restaurants contribute significantly to shrimp sales. Increasing interest in low-carb and keto diets encourages shrimp consumption as a healthy protein alternative. Domestic aquaculture advances are reducing import dependency. Moreover, food safety regulations and traceability initiatives build consumer confidence in shrimp products. In February 2022, SeaPak has introduced its new frozen product, Southern Style Jumbo Shrimp, available nationwide across the U.S.

Asia Pacific Shrimp Market Trends

The Asia Pacific shrimp industry held the largest global revenue share of 52.0% in 2024. The market growth is propelled by rapidly rising disposable incomes and expanding middle-class populations with evolving food preferences. Traditional consumption habits favor shrimp, with strong demand across China, India, Japan, and Southeast Asia. Technological advances in aquaculture and government support for sustainable farming enhance production capacity. Urbanization and the growth of modern retail formats boost market reach. Export opportunities from major producers like India and Vietnam also significantly influence the regional market.

Europe Shrimp Market Trends

The shrimp industry in Europe is projected to grow significantly at a CAGR of 5.3% from 2025 to 2033.  The growth is largely fueled by rising demand for sustainably sourced and organic seafood products. Health-conscious consumers seek shrimp as part of balanced diets rich in omega-3 fatty acids. The expansion of retail chains specializing in fresh and frozen seafood supports accessibility. Regional preferences for specific shrimp varieties influence market trends, alongside culinary traditions favoring shell-on shrimp. For instance, according to the data published in December 2024, in 2023, Southern Europe consumed USD 5.75 billion worth of shrimp annually.

The shrimp market in Spain is projected to grow at the fastest CAGR of 5.1% from 2025 to 2033. The market growth is driven by strong consumer demand for fresh and high-quality seafood, deeply rooted in the country’s culinary traditions. Growing tourism boosts shrimp consumption in restaurants and hospitality sectors. Increasing preference for sustainably sourced and certified shrimp is shaping purchasing decisions. Additionally, Spain’s strategic position as a major seafood importer and distributor enhances market availability and variety. For instance, according to the data published in December 2024, in 2023, Southern Europe imported approximately 332,000 tonnes of shrimp from non-EU suppliers, with Spain and France driving the region’s market growth 

Key Shrimp Company Insights

Many brands in the global shrimp market have recognized untapped opportunities within their product portfolios and are actively working to capitalize on these gaps. This includes launching innovative designs, expanding customization options, and tailoring marketing strategies to align with evolving consumer tastes and cultural trends. By addressing niche segments and emerging preferences, these brands aim to increase their market share and strengthen their competitive positioning worldwide.

Recent Developments

• In May 2024, Natural Shrimp, Inc. announced that, due to significantly increased production at its Webster City facility, the company is currently identifying, contacting, and securing new commercial outlets for the sale of its sushi-grade shrimp.

• In March 2024, Thai Union Group introduced a groundbreaking program aimed at substantially cutting greenhouse gas (GHG) emissions within the shrimp supply chain. Developed in partnership with The Source Conservancy (TNC) and Ahold Delhaize USA, the Shrimp Decarbonization initiative represents a major advancement toward more sustainable aquaculture practices.

Shrimp Market Report Scope

Global Shrimp Market Report Segmentation

This report forecasts volume & revenue growth at the global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2021 to 2033. For this study, Grand View Research has segmented the global shrimp market report based on species, source, form, distribution channel, and region:

• Species Outlook (Volume, Metric Tons; Revenue, USD Million, 2021 - 2033)

  • L. vannamei

  • Trachipenaeus curvirostris

  • Pleoticus muelleri

  • P. monodon

  • Acetes japonicus

  • Pandalus borealis

  • P. chinensis

  • Others

• Source Outlook (Volume, Metric Tons; Revenue, USD Million, 2021 - 2033)

  • Wild

  • Aquaculture

• Form Outlook (Volume, Metric Tons; Revenue, USD Million, 2021 - 2033)

  • Green/ Head-off

  • Green/ Head-on

  • Peeled

  • Cooked

  • Breaded

  • Others

• Distribution Channel Outlook (Volume, Metric Tons; Revenue, USD Million, 2021 - 2033)

  • B2B

  • B2C

    • Hypermarkets & Supermarkets

    • Convenience Stores

    • Specialty Stores

    • Online

    • Others

• Regional Outlook (Volume, Metric Tons; Revenue, USD Million, 2021 - 2033)

  • North America

    • U.S.

    • Canada

    • Mexico

  • Europe

    • UK

    • Germany

    • France

    • Italy

    • Spain

    • Lithuania

  • Asia Pacific

    • China

    • Japan

    • India

    • Thailand

    • Vietnam

    • South Korea

  • Central & South America

    • Brazil

  • Middle East & Africa

    • South Africa