Canada Shrimp Market Size & Outlook, 2030

Revenue, 2022 (US$M)

$881.1

Forecast, 2030 (US$M)

$1,470.8

CAGR, 2023 - 2030

6.6%

Report Coverage

Canada

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

Related Markets

Canada shrimp market highlights

The Canada shrimp market generated a revenue of USD 881.1 million in 2022 and is expected to reach USD 1,470.8 million by 2030.
The Canada market is expected to grow at a CAGR of 6.6% 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 881.1 million
Market revenue in 2030	USD 1,470.8 million
Growth rate	6.6% (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, Canada accounted for 1.3% 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 North America, U.S. shrimp market is projected to lead the regional market in terms of revenue in 2030.
Canada is the fastest growing regional market in North America and is projected to reach USD 1,470.8 million by 2030.

L. vannamei was the largest segment with a revenue share of 45.33% in 2022. Horizon Databook has segmented the Canada 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.

Canada's multicultural population means a variety of cuisines are popular. Shrimp is a versatile ingredient that can be incorporated into various dishes, appealing to a broad range of tastes. Value added shrimp products, like pre-peeled or pre-cooked options, appeal to consumers seeking convenient meal solutions. Locally-produced shrimp can often reach the market more quickly than imported shrimp, ensuring a higher level of freshness and quality.

In May 2019, a shrimp farm was established in Alberta in the vicinity of Strathmore. The presence of a shrimp farm in Alberta adds geographic diversity to the Canadian shrimp market. Different regions may produce distinct shrimp varieties, providing consumers with a wider range of choices and flavors. With the establishment of a local shrimp farm, Canada gains a new source of domestically-produced shrimp. This contributes to the overall supply of shrimp in the country, potentially reducing the need for imports and ensuring a steady availability of shrimp for Canadian consumers.

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