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