Asia Pacific Shrimp Market Size & Outlook, 2022-2030
Asia Pacific shrimp market, 2017-2030 (US$M)
Related Markets
Asia Pacific shrimp market highlights
- The Asia Pacific shrimp market generated a revenue of USD 35,416.7 million in 2022.
- The market is expected to grow at a CAGR of 5.6% from 2023 to 2030.
- In terms of segment, l. vannamei was the largest revenue generating species in 2022.
- P. chinensis is the most lucrative species segment registering the fastest growth during the forecast period.
- Country-wise, Japan is expected to register the highest CAGR from 2023 to 2030.
Asia Pacific data book summary
| Market revenue in 2022 | USD 35,416.7 million |
| Market revenue in 2030 | USD 54,862.1 million |
| Growth rate | 5.6% (CAGR from 2022 to 2030) |
| Largest segment | L. vannamei |
| Fastest growing segment | P. chinensis |
| Historical data covered | 2017 - 2021 |
| Base year for estimation | 2022 |
| Forecast period covered | 2023 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | L. vannamei, Trachipenaeus curvirostris, Pleoticus muelleri, P. monodon, Acetes japonicus, Pandalus borealis, P. chinensis |
| Key market players worldwide | Thai Union Group PCL ADR, Avanti Feeds, High Liner Foods, Surapon Foods, Clearwater Seafoods, Mazzetta Company, Aqua Star, Nordic Seafood, Waterbase, Ocean Direct |
Other key industry trends
- In terms of revenue, Asia Pacific region accounted for 51.8% of the global shrimp market in 2022.
- Globally, Asia Pacific is projected to lead the regional market in terms of revenue in 2030.
- MEA is the fastest growing regional market and is projected to reach USD 2,203.6 million by 2030.
L. vannamei was the largest segment with a revenue share of 45.22% in 2022. Horizon Databook has segmented the Asia Pacific shrimp market based on l. vannamei, trachipenaeus curvirostris, pleoticus muelleri, p. monodon, acetes japonicus, pandalus borealis, p. chinensis covering the revenue growth of each sub-segment from 2017 to 2030.
The Asia Pacific region is home to a significant portion of the world's population, providing a substantial consumer base for shrimp products. Shrimp is an integral part of the culinary traditions in many Asian countries. It is featured in a wide range of traditional dishes and is often associated with festive and celebratory occasions. Several Asian countries, such as India, Thailand, Indonesia, and Vietnam, are major shrimp producers.
They export shrimp products to international markets, contributing to economic growth and increasing the availability of shrimp domestically. Asia Pacific countries have made significant advancements in shrimp aquaculture technology and practices. This has led to increased production, improved quality, and cost-effective shrimp farming. In April 2023, Kemin Aqua Science, headquartered in U.S. introduced Pathorol to enhance farmed shrimp health across multiple Asian nations.
Pathorol, a shrimp dietary supplement is designed to enhance the health of the hepatopancreas, a vital organ in the digestive tract of crustaceans. The product is now available in India, Thailand, Vietnam, Indonesia, and Singapore. Healthier shrimp are likely to result in higher-quality shrimp products, which can command better prices in the market, boosting sales. Consumers often prefer healthy shrimp with better texture and taste.
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Shrimp Market Scope
Shrimp Market Companies
| Name | Profile | # Employees | HQ | Website |
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Asia Pacific shrimp market size, by country, 2017-2030 (US$M)
Asia Pacific Shrimp Market Outlook Share, 2022 & 2030 (US$M)
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