Brazil Shrimp Market Size & Outlook, 2022-2030
Brazil shrimp market, 2017-2030 (US$M)
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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.
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Shrimp Market Scope
Shrimp Market Companies
| Name | Profile | # Employees | HQ | Website |
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Brazil shrimp market size, by species, 2017-2030 (US$M)
Brazil Shrimp Market Outlook Share, 2022 & 2030 (US$M)
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