Brazil Shrimp Market Size & Outlook, 2030

Revenue, 2022 (US$M)

$1,446.8

Forecast, 2030 (US$M)

$1,920.1

CAGR, 2023 - 2030

3.6%

Report Coverage

Brazil

Brazil shrimp market, 2017-2030 (US$M)

Related Markets

Brazil shrimp market highlights

The Brazil shrimp market generated a revenue of USD 1,446.8 million in 2022 and is expected to reach USD 1,920.1 million by 2030.
The Brazil market is expected to grow at a CAGR of 3.6% 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.

Shrimp market data book summary

Market revenue in 2022	USD 1,446.8 million
Market revenue in 2030	USD 1,920.1 million
Growth rate	3.6% (CAGR from 2022 to 2030)
Largest segment	L. vannamei
Fastest growing segment	P. chinensis
Historical data	2017 - 2021
Base year	2022
Forecast period	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, Brazil accounted for 2.1% of the global shrimp market in 2022.
Country-wise, South Africa is expected to lead the global market in terms of revenue in 2030.
In Latin America, Brazil shrimp market is projected to lead the regional market in terms of revenue in 2030.
Brazil is the fastest growing regional market in Latin America and is projected to reach USD 1,920.1 million by 2030.

L. vannamei was the largest segment with a revenue share of 45.37% in 2022. Horizon Databook has segmented the Brazil 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.

Globally, there is a rising demand for seafood, including shrimp, tuna, salmon, and catfish, due to its health benefits and changing dietary preferences. Brazil's shrimp production helps meet this increasing demand both domestically and internationally. Brazil has a 7,491 km coastline, favorable climate conditions, and abundant natural resources that have positioned it as a significant player in the global shrimp market.

Fisheries and aquaculture play a significant role in boosting the shrimp market in Brazil. According to the Food and Agriculture Organization of the United Nations, in Brazil, 3.5 million people are estimated to be working directly or indirectly in the fisheries and aquaculture sectors. In 2019, total capture fisheries production was 710,333 tons. In 2019, 14% of the mari culture was dominated by white-leg shrimp.

Key Regions: U.S. , UK , Japan , Canada , Mexico