Latin America Shrimp Market Size & Outlook, 2022-2030
Latin America shrimp market, 2017-2030 (US$M)
Related Markets
Latin America shrimp market highlights
- The Latin America shrimp market generated a revenue of USD 5,188.8 million in 2022.
- The market is expected to grow at a CAGR of 3.3% 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, Brazil is expected to register the highest CAGR from 2023 to 2030.
Latin America data book summary
| Market revenue in 2022 | USD 5,188.8 million |
| Market revenue in 2030 | USD 6,706.0 million |
| Growth rate | 3.3% (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, Latin America region accounted for 7.6% 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 45.3% in 2022. Horizon Databook has segmented the Latin America 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.
Shrimp production and consumption have been steadily growing in the CSA region due to factors such as favorable climate conditions, increasing demand for seafood, and a focus on aquaculture development. Countries such as Ecuador, Mexico, Brazil, and Peru are major players in shrimp production.
These countries benefit from their geographic proximity to the Pacific and Atlantic oceans, providing suitable conditions for shrimp farming. Ecuador's shrimp producers have experienced remarkable growth in their production volume.
In 2010, they produced 145,000 metric tons of shrimp; by 2020, this figure surged to 675,000 metric tons, reflecting a 400% increase. The region produces a variety of shrimp species, with Pacific white shrimp being the most popular due to its adaptability and fast growth rate. Technological advancements have played an important role in developing and growing the shrimp market in CSA.
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Shrimp Market Scope
Shrimp Market Companies
| Name | Profile | # Employees | HQ | Website |
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Latin America shrimp market size, by country, 2017-2030 (US$M)
Latin America Shrimp Market Outlook Share, 2022 & 2030 (US$M)
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