North America Shrimp Market Size & Outlook, 2030

Revenue, 2022 (US$M)

$16,058.1

Forecast, 2030 (US$M)

$25,174.8

CAGR, 2023 - 2030

5.8%

Report Coverage

North America

North America shrimp market, 2017-2030 (US$M)

North America shrimp market highlights

The North America shrimp market generated a revenue of USD 16,058.1 million in 2022.
The market is expected to grow at a CAGR of 5.8% 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, Canada is expected to register the highest CAGR from 2023 to 2030.

North America data book summary

Market revenue in 2022	USD 16,058.1 million
Market revenue in 2030	USD 25,174.8 million
Growth rate	5.8% (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, North America region accounted for 23.5% 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 45.33% in 2022. Horizon Databook has segmented the North 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.

Growing consumer demand for seafood, including shrimp, has been a significant driver of industry growth. Shrimp is popular due to its versatility and is considered a healthy protein option. It is low in calories and fat while being a good source of essential nutrients like protein, vitamins, and minerals. Health-conscious consumers are more inclined to include shrimp in their diets.

Market players are continuously developing new shrimp products, particularly value-added options like pre-marinated, pre-cooked, or flavored shrimp. These innovations cater to consumer preferences for convenience and unique flavors.

For instance, in March 2022, Del Pacifico Seafoods LLC, headquartered in Sinaloa, Mexico, known for its expertise in wild-caught Mexican shrimp, introduced a range of sustainably farmed shrimp and oysters at the Seafood Expo North America in Boston, Massachusetts.

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