UK Shrimp Market Size & Outlook, 2030

Revenue, 2022 (US$M)

$1,108.2

Forecast, 2030 (US$M)

$1,595.6

CAGR, 2023 - 2030

4.7%

Report Coverage

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

Related Markets

UK shrimp market highlights

The UK shrimp market generated a revenue of USD 1,108.2 million in 2022 and is expected to reach USD 1,595.6 million by 2030.
The UK market is expected to grow at a CAGR of 4.7% 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 1,108.2 million
Market revenue in 2030	USD 1,595.6 million
Growth rate	4.7% (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, UK accounted for 1.6% 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 Europe, France shrimp market is projected to lead the regional market in terms of revenue in 2030.
Spain is the fastest growing regional market in Europe and is projected to reach USD 2,162.7 million by 2030.

L. vannamei was the largest segment with a revenue share of 45.33% in 2022. Horizon Databook has segmented the UK 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.

The U.K.'s diverse culinary scene incorporates a wide range of international cuisines, many of which feature shrimp prominently. Consumers enjoy shrimp in dishes such as prawn cocktails, seafood curries, and sushi, driving the overall market. This rising demand for seafood, including shrimp, in the U.K. can be attributed to changing dietary preferences resulting from a growing interest in healthier eating habits.

Shrimp is considered a low calorie and high-protein option, making it popular among health-conscious consumers. According to Seafish, a U.K. public body that publishes regular blogs on the seafood industry, a report disclosed in June 2022 seafood consumption in the country reached a pivotal point with a boost to seafood consumed through retail channels.

In December 2021, approximately 66% of seafood consumption in the country was done through retail channels, while the remaining portion was distributed through foodservice establishments and a limited number of independent fishmongers. Retail outlets such as supermarkets and grocery stores are widely accessible to consumers across the U.K. This accessibility makes shrimp products more readily available to a broader customer base, thereby propelling product sales in the country.

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