U.S. Shrimp Market Size & Outlook, 2022-2030
U.S. shrimp market, 2017-2030 (US$M)
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U.S. shrimp market highlights
- The U.S. shrimp market generated a revenue of USD 13,573.3 million in 2022 and is expected to reach USD 21,067.9 million by 2030.
- The U.S. market is expected to grow at a CAGR of 5.6% 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 13,573.3 million |
| Market revenue in 2030 | USD 21,067.9 million |
| Growth rate | 5.6% (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, U.S. accounted for 19.8% 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 U.S. 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.
Consumer demand for seafood, including shrimp, is rising due to its versatility, taste, and health benefits. The availability of convenient and ready-to-cook shrimp products, such as pre-peeled and deveined shrimp, has made it easier for consumers to incorporate shrimp into their meals.
Shrimp manufacturers are continually launching products with several innovations, thus boosting shrimp sales in the country. For instance, Sea Pak launched its new frozen shrimp offering, Southern Style Jumbo Shrimp, across the entire U.S. in February 2022.
The addition of new and distinct shrimp products diversifies the shrimp offerings available to consumers, attracting those looking for unique and flavorful options. Manufacturers are expanding their online presence, offering e-commerce options for consumers to purchase shrimp conveniently.
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Shrimp Market Scope
Shrimp Market Companies
| Name | Profile | # Employees | HQ | Website |
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U.S. shrimp market size, by species, 2017-2030 (US$M)
U.S. Shrimp Market Outlook Share, 2022 & 2030 (US$M)
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