South Africa Shrimp Market Size & Outlook, 2022-2030
South Africa shrimp market, 2017-2030 (US$M)
Related Markets
South Africa shrimp market highlights
- The South Africa shrimp market generated a revenue of USD 20,972.1 million in 2022 and is expected to reach USD 33,315.8 million by 2030.
- The South Africa market is expected to grow at a CAGR of 6% 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 20,972.1 million |
| Market revenue in 2030 | USD 33,315.8 million |
| Growth rate | 6% (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, South Africa accounted for 30.7% 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 Middle East & Africa, South Africa shrimp market is projected to lead the regional market in terms of revenue in 2030.
- South Africa is the fastest growing regional market in Middle East & Africa and is projected to reach USD 33,315.8 million by 2030.
L. vannamei was the largest segment with a revenue share of 54.67% in 2022. Horizon Databook has segmented the South Africa 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.
South Africa's growing middle-income population, urbanization, and changing dietary preferences have increased the demand for seafood, such as shrimp, crabs, and catfish. Consumers are seeking healthier and more diverse protein sources. Shrimp is considered a healthy source of protein, low in fat, and rich in essential nutrients.
The growing awareness of shrimp’s nutritional benefits has contributed to its popularity. Freshwater shrimps are widely produced in South Africa. Due to the large number of freshwater resources available in the country, farmers can utilize shrimp farming.
Government initiatives play a crucial role in boosting the South Africa shrimp market by providing support, incentives, and regulatory frameworks that promote the growth and sustainability of the industry. For instance, South Africa has the Aquaculture Development and Enhancement Programme (ADEP), which provides aquaculture businesses with financial support.
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Shrimp Market Scope
Shrimp Market Companies
| Name | Profile | # Employees | HQ | Website |
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South Africa shrimp market size, by species, 2017-2030 (US$M)
South Africa Shrimp Market Outlook Share, 2022 & 2030 (US$M)
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