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