Mexico Shrimp Market Size & Outlook, 2030

Revenue, 2022 (US$M)

$1,603.7

Forecast, 2030 (US$M)

$2,636.0

CAGR, 2023 - 2030

6.4%

Report Coverage

Mexico

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

Related Markets

Mexico shrimp market highlights

The Mexico shrimp market generated a revenue of USD 1,603.7 million in 2022 and is expected to reach USD 2,636.0 million by 2030.
The Mexico market is expected to grow at a CAGR of 6.4% 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 1,603.7 million
Market revenue in 2030	USD 2,636.0 million
Growth rate	6.4% (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, Mexico accounted for 2.3% 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 Mexico 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.

Mexico holds a prominent position in the fishing and aquaculture industry. Octopus, tuna, shrimp, tilapia, and certain marine fish species are cultivated via mariculture in the country. Mexico boasts a long coastline along the Pacific Ocean and the Gulf of Mexico, providing ample opportunities for shrimp aquaculture and wild-caught shrimp fishing.

Owing to the large aquaculture sector in Mexico, Hannover Fairs organized the World Seafood Industry 2020 event in Jalisco. Seafood industry events often attract restaurant owners and chefs. They may be inspired to include shrimp dishes on their menus, leading to increased shrimp consumption in restaurants.

Mexican shrimp producers have increasingly adopted sustainable and responsible farming practices, earning certifications, such as Aquaculture Stewardship Council (ASC) and Marine Stewardship Council (MSC). This commitment to sustainability enhances market access, thus driving market growth.

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