Shelled Shrimp Market Trends and Market Analysis forecasted for period 2024-2031
Market Overview and Report Coverage
Shelled shrimp, also known as peeled shrimp, refers to raw shrimp that has been removed from its shell before being sold. The global shelled shrimp market is expected to experience significant growth in the coming years, with a projected CAGR of % during the forecasted period. This growth is attributed to the increasing demand for seafood products, changing consumer preferences towards convenience foods, and the rising popularity of shrimp as a healthy protein source.
The current outlook of the shelled shrimp market shows a trend towards increased consumption in both developed and developing countries. Factors such as technological advancements in food processing, streamlined supply chains, and the expansion of e-commerce platforms are also driving market growth. Additionally, the market is seeing a rise in sustainable practices, with more companies focusing on responsible sourcing and eco-friendly packaging.
Overall, the future of the shelled shrimp market looks promising, with continued growth expected as consumer awareness of health and environmental issues continues to rise. Market trends indicate a shift towards premium shrimp products, organic options, and innovative flavors to cater to diverse consumer preferences.
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Market Segmentation
The Shelled Shrimp Market Analysis by types is segmented into:
- By Process
- Cooked Type
- Raw Type
- By species
- Whiteleg Shrimp
- Giant Tiger Prawn
- Akiami Paste Shrimp
- Other
Shelled shrimp market types can be categorized based on the process, such as cooked or raw shrimp. Cooked shrimp are processed through cooking methods, while raw shrimp are uncooked and can be prepared according to preference. Shrimp can also be classified by species, including Whiteleg Shrimp, Giant Tiger Prawn, Akiami Paste Shrimp, and others. Each species offers a unique flavor and texture profile, appealing to different consumer preferences. Overall, the shelled shrimp market offers a variety of options to cater to diverse tastes and culinary needs.
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The Shelled Shrimp Market Industry Research by Application is segmented into:
- Household
- Restaurant and Hotel
- Others
Shelled shrimp are a popular seafood item that can be enjoyed by households, restaurants, hotels, and other markets. In households, shelled shrimp can be used in a variety of dishes for family meals and gatherings. Restaurants often feature shelled shrimp dishes on their menu to cater to seafood lovers. Hotels also serve shelled shrimp as part of their seafood offerings for guests. Other markets, such as seafood markets and grocery stores, sell shelled shrimp to customers looking to cook their own shrimp dishes at home.
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In terms of Region, the Shelled Shrimp Market Players available by Region are:
North America:
- United States
- Canada
Europe:
- Germany
- France
- U.K.
- Italy
- Russia
Asia-Pacific:
- China
- Japan
- South Korea
- India
- Australia
- China Taiwan
- Indonesia
- Thailand
- Malaysia
Latin America:
- Mexico
- Brazil
- Argentina Korea
- Colombia
Middle East & Africa:
- Turkey
- Saudi
- Arabia
- UAE
- Korea
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What are the Emerging Trends in the Global Shelled Shrimp market?
Emerging trends in the global shelled shrimp market include the increasing consumer preference for sustainably sourced and traceable seafood, leading to a growing demand for certified organic and wild-caught shrimp. Current trends include the rise of online seafood marketplaces and direct-to-consumer sales, as well as the popularity of value-added shrimp products like seasoned and marinated options. Additionally, there is a focus on innovative packaging techniques to extend shelf life and reduce environmental impact. The market is also seeing a shift towards smaller-sized shrimp varieties as consumers seek out more convenient and versatile options for cooking.
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Major Market Players
The shelled shrimp market is highly competitive with key players such as Minh Phu Seafood Corp, Thai Union, Expalsa, Zhanjiang Guolian, Pescanova, Songa, Iberconsa, Conarpesa, Royal Greenland A/S, ProExpo, Quoc Viet, Devi Fisheries, and Nekkanti Sea Foods.
Minh Phu Seafood Corp is one of the leading players in the global shelled shrimp market with a strong presence in Asia, Europe, and North America. The company has experienced steady market growth over the years, attributed to their focus on sustainability, quality, and innovation. Minh Phu Seafood Corp reported sales revenue of $700 million in 2020.
Thai Union is another prominent player in the shelled shrimp market known for its extensive product portfolio and global distribution network. The company has been investing in technology and sustainability practices to maintain its market position and drive growth. Thai Union reported sales revenue of $ billion in 2020.
Expalsa, a major player in the Latin American market, has been expanding its operations and product offerings to meet the increasing demand for shelled shrimp. The company has been investing in state-of-the-art processing facilities and sustainable practices. Expalsa reported sales revenue of $300 million in 2020.
Overall, the shelled shrimp market is expected to witness continued growth driven by increasing consumer demand for healthy and sustainable seafood products. Key players in the market are focusing on product innovation, sustainability, and expansion to capitalize on market opportunities and stay competitive in the industry.
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