Shrimp Market

Shrimp Market Size, Market Forecast and Outlook By FMI

The shrimp market was valued at USD 70.0 billion in 2025. Sector is expected to reach USD 75.6 billion in 2026 and USD 162.7 billion by 2036 at an 8.0% CAGR. By form, canned shrimp is projected to account for 80.0% in 2026 and Gulf shrimps by species are estimated to hold 53.0% in 2026.

Summary of the Shrimp Market

• Demand and Growth Drivers
  • Canned shrimp is projected to represent 80.0% share in 2026 as long shelf life supports retail distribution.
  • India is forecast above the global pace at 10.2% CAGR through 2036 due to export processing depth.
  • China is expected to grow at 7.2% CAGR through 2036 as large import volumes support steady consumption.
  • Conventional source is projected to account for 86.0% share in 2026 with price-sensitive retail demand setting the core.
• Product and Segment View
  • Gulf shrimps are projected to account for 53.0% of Species demand in 2026 as premium channels favor consistent texture.
  • Canned shrimp is estimated to hold 80.0% of Form demand in 2026 with pantry formats supporting lower wastage.
  • Conventional shrimp is anticipated to represent 86.0% of Source demand in 2026 as organic supply stays limited.
  • Direct processing is expected to lead Processing Method demand with 62.0% share in 2026 as exporters simplify handling.
  • Food is forecast to account for 82.0% of Application demand in 2026 as shrimp remains primarily a meal protein.
• Geography and Competitive Outlook
  • India and China are forecast to be the most important volume markets across the forecast period.
  • The United States stays important as a high-value import destination and restaurant demand center.
  • Charoen Pokphand Foods and Thai Union hold global positions across feed, processing, and branded seafood.
• Analyst Opinion
  • Nandini Roy Choudhury, Principal Consultant at FMI says, "As per our analysis, shrimp is shifting from a broad seafood staple into a more segmented protein category. Processors are no longer competing only on volume. They need steady raw material access, cleaner processing proof, and formats that fit retail and foodservice needs. The largest opportunity is in products that reduce waste and simplify meal preparation."
• Shrimp Market Value Analysis
  • The market is projected to rise from USD 75.6 billion in 2026 to USD 162.7 billion by 2036.
  • Canned shrimp leads product demand as shelf-stable seafood supports retail planning and household use.
  • Food remains the main application as shrimp is mostly purchased as a meal protein.
  • Direct processing shapes value because exporters need shorter handling routes and stronger quality control.
  • Price pressure stays high since global import value fell faster than volume during 2024.

Key Takeaways, Market Size, and Forecast

Metric	Value
Market Size (2025)	USD 70.0 Billion
Market Size (2036)	USD 162.7 Billion
Fastest-Growing Segment	With A
With A CAGR	8.0%
Incremental Opportunity (2026–2036)	USD 87.1 Billion
Leading Canned Shrimp (2026)	Canned Shrimp
Canned Shrimp Share (2026)	80.0%
Fastest-Growing Country	India
India CAGR	10.2%
Leading Product Type (2026)	Gulf Shrimps
Gulf Shrimps Share (2026)	53.0%
Leading Processing Method (2026)	Direct Processing
Direct Processing Share (2026)	62.0%

Shrimp buying is moving toward predictable retail formats and verified export supply. Global shrimp imports dropped 1.6% by volume in 2024 while value fell 5.9% according to FAO GLOBEFISH. That price signal keeps pressure on farm margins and makes processing mix important for exporters. The next phase of value creation is expected to come from cold-chain discipline, cooked formats, and stronger traceability in major importing markets.

Shrimp Market Definition

The shrimp market covers farmed and wild shrimp sold for food and approved non-food uses. Included products cover canned, breaded, peeled, cooked peeled, shell-on, and frozen formats. The scope includes conventional and organic shrimp sold through retail, foodservice, and processing channels. It excludes shrimp feed, disease diagnostics, and plant-based shrimp unless they are used as adjacent category references.

Shrimp Market Inclusions

The scope includes Gulf shrimps, farmed whiteleg shrimps, giant tiger shrimps, blue shrimps, ocean shrimps, canned formats, frozen formats, conventional supply, organic supply, direct processing, indirect processing, food applications, and country demand across major regions.

Shrimp Market Exclusions

The scope excludes live ornamental shrimp, non-food aquarium species, shrimp feed ingredients, disease diagnostic kits, aquaculture equipment, plant-based substitutes, and seafood products where shrimp is not the main value component.

Shrimp Market Research Methodology

• Primary Research: FMI analysts reviewed input from shrimp processors, seafood importers, cold-chain operators, and foodservice buyers. Discussions focused on processing format, landed cost, traceability, and buyer acceptance.
• Desk Research: Desk research combined FAO trade data, national seafood export releases, company filings, and retail format checks. The addressable pool was defined around shrimp sold as edible seafood.
• Market Sizing and Forecasting: The model combined farmed output, trade value, processed product mix, and country consumption. Segment shares were adjusted with retail shelf life and foodservice handling needs.
• Data Validation: Forecasts were checked against FAO shrimp trade signals, India seafood export data, Ecuador export reports, and company operating footprints.

Why is the Shrimp Market Growing?

• Retailers use canned and frozen shrimp to reduce spoilage risk and keep seafood available through longer selling windows.
• Export processors are shifting toward value-added formats as raw frozen shrimp faces price pressure in import markets.
• Foodservice buyers treat shrimp as a quick-cook protein that fits casual dining and prepared meals.
• Traceability requests are raising the value of processors with farm links and documented cold-chain control.

Shrimp growth is tied to convenience as much as protein demand. FAO GLOBEFISH reported that global shrimp imports declined by 1.6% in volume during 2024 and fell by 5.9% in value. This shows that buyers did not abandon shrimp but paid less per unit in a weaker pricing cycle. Processors that can protect margins through cooked, canned, or portioned products are better placed than sellers relying only on raw frozen blocks.

Supply concentration also shapes the forecast. India reported frozen shrimp exports of 741,529 metric tons in 2024-25 and export value of USD 5.18 billion through its marine export authority. That scale gives Indian processors purchasing power and buyer access in the United States and China. It also raises exposure to food safety checks and tariff changes that can redirect orders quickly.

Market Segmentation Analysis

• Gulf shrimps are projected to account for 53.0% share in 2026 as premium channels favor firm texture and traceability claims.
• With an estimated 80.0% share in 2026, canned shrimp is expected to lead Form demand through longer storage life.
• Conventional shrimp is projected to account for 86.0% of Source demand in 2026 due to limited certified organic supply.
• Direct processing is expected to reach 62.0% of Processing Method demand in 2026 as exporters prefer simpler quality control.
• Food applications are anticipated to direct 82.0% of Application demand in 2026 as retail and foodservice remain the main buyers.

Segment demand is shaped by format, species trust, and buyer tolerance for price swings. Canned formats hold the lead because they reduce waste and simplify inventory planning. Gulf shrimps hold a premium position where buyers pay for taste and handling proof. Conventional supply carries the largest share since organic certification raises cost and narrows farm supply.

Insights into the Gulf Shrimps Species Segment

Shrimp Market Analysis By Species

• Gulf shrimps are projected to account for 53.0% of Species demand in 2026 as premium seafood channels value texture and harvest identity.
• Restaurants in the United States Gulf Coast use origin claims as a menu signal which supports price premiums during stable supply periods.

Shrimp Market Analysis By Form

• Canned shrimp is estimated to hold 80.0% of Form demand in 2026 as shelf-stable packs reduce retailer spoilage risk.
• European grocery buyers use canned seafood shelves to keep shrimp accessible outside fresh seafood counters and seasonal promotion windows.

Shrimp Market Analysis By Source

• Conventional shrimp is anticipated to represent 86.0% of Source demand in 2026 as certified organic volumes remain selective.
• Farmers in India and Ecuador usually serve export programs through conventional supply that can meet price and volume needs.

Shrimp Market Analysis By Processing Method

• Direct processing is projected to hold 62.0% of Processing Method demand in 2026 as exporters keep fewer transfer points before packing.
• Large processors favor direct handling when buyers ask for residue control and lot documentation from farm to freezer.

Shrimp Market Analysis By Application

• Food is expected to represent 82.0% of Application demand in 2026 as shrimp remains mainly a meal and snack protein.
• Foodservice chains often prefer peeled or cooked peeled packs because kitchen labor and portion control affect menu cost.

Shrimp Market Drivers, Restraints, and Opportunities

• Processed shrimp formats drive value where retailers need longer shelf life and lower seafood counter waste.
• Disease events restrain farm output when ponds face early mortality or white spot outbreaks.
• Traceable farm-to-pack supply creates an opportunity for exporters selling into stricter retail programs.
• Feed cost volatility affects margins because feed is one of the largest farm operating expenses.

Processed format expansion

Processed shrimp is the clearest value pool because buyers want seafood that is easy to store and prepare. The FMI page for the exact shrimp category places canned shrimp at 80.0% share in 2026. That share reflects the appeal of longer shelf life in both developed and emerging retail chains. Suppliers able to move from raw frozen exports into cooked or canned packs can reduce exposure to raw commodity pricing.

Import price pressure

Shrimp import value fell faster than volume during 2024 which points to weaker unit pricing. FAO GLOBEFISH reported that the combined share of China and the United States in global shrimp trade declined from 49.0% in 2023 to 48.0% in 2024. This shift matters for exporters because the two largest import centers no longer absorb excess supply as easily. Processors need product mix and destination diversity to protect margins.

Traceability and disease control

Shrimp buyers are giving more weight to farm records and disease risk management. Disease outbreaks can quickly reduce pond survival and raise raw material cost for processors. This creates stronger buyer interest in hatchery quality and residue checks. Suppliers with documented handling and farm records can defend shelf access when price competition tightens.

Analysis of Shrimp Market By Key Countries

Country	CAGR
India	10.2%
China	7.2%
United States	6.5%
Germany	5.4%
Brazil	4.5%
Japan	5.8% (est.)
United Kingdom	9.2%

Source: FMI analysis based on primary research and proprietary forecasting model.

Shrimp Market CAGR Analysis By Country

• India is projected to record a 10.2% CAGR through 2036 as processing scale and export relationships support value growth.
• China is expected to expand at 7.2% CAGR through 2036 as import demand stays large despite weaker 2024 volume.
• United States is forecast to grow at 6.5% CAGR through 2036 as restaurant and retail shrimp use stays broad.
• Germany is expected to advance at 5.4% CAGR through 2036 as frozen and prepared seafood formats support demand.
• Brazil is projected to rise at 4.5% CAGR through 2036 as local aquaculture and coastal foodservice support consumption.
• Japan is forecast at 5.8% CAGR through 2036 as compact retail packs and foodservice use keep demand steady.
• United Kingdom is expected to post 9.2% CAGR through 2036 due to chilled prepared meals and imported seafood reliance.

The global average of 8.0% shows a balance between export-led producers and mature importing markets. India and the United Kingdom track above the global pace due to processing and retail format effects. Germany and Brazil fall below the global pace because demand is steadier and more price sensitive.

Demand Outlook for Shrimp in India

India’s shrimp outlook is shaped by export processing and farmed whiteleg supply. Frozen shrimp exports reached 741,529 metric tons in 2024-25 through India’s marine export authority. India is projected to record a 10.2% CAGR through 2036 as processors move more product into retail-ready and cooked formats. The main risk is that tariff or residue issues can shift orders into competing origins quickly.

• Andhra Pradesh remains the main farm and processing center due to pond density and export plant access.
• MPEDA inspection systems influence buyer confidence in frozen shrimp shipped to the United States.
• Gujarat and Odisha add coastal capacity where processors seek lower-cost pond expansion.

FMI’s country-level view includes adjacent demand patterns across Shrimp in India for supplier planning and channel comparison.

Sales Analysis of Shrimp in China

China remains a major shrimp buyer even after a weaker import year. Customs-based reporting showed Chinese shrimp imports at about 1.0 million metric tons in 2024 after a decline from 2023. China is expected to expand at 7.2% CAGR through 2036 as lower prices support household and restaurant buying. Exporters still need caution because inventories at ports can delay new orders.

• Shanghai and Guangzhou remain important consumption centers due to large restaurant and retail seafood channels.
• Ecuador remains a key supplier to China due to large farm scale and competitive whole-shrimp pricing.
• Cold-chain distributors in coastal provinces shape the speed at which import price changes reach consumers.

FMI’s country-level view includes adjacent demand patterns across Shrimp in China for supplier planning and channel comparison.

Demand Analysis of Shrimp in the United States

The United States is a high-value import market where shrimp competes through price and format. U.S. shrimp imports reached 1.67 billion pounds and USD 6.04 billion in 2024 based on NOAA-linked trade data. The United States is forecast to grow at 6.5% CAGR through 2036 as restaurants and supermarkets continue to treat shrimp as a core seafood item. Tariff changes will decide how much volume shifts between India and Ecuador.

• Gulf Coast restaurants support premium origin claims for wild and domestic shrimp offerings.
• Retail chains in California and Texas use frozen shrimp promotions to manage household price sensitivity.
• NOAA trade data remains a reference point for importers comparing landed cost by origin.

FMI’s country-level view includes adjacent demand patterns across Shrimp in the United States for supplier planning and channel comparison.

Demand Outlook for Shrimp in Germany

Germany represents a mature imported shrimp market with strong frozen seafood retailing. The country’s shrimp demand is tied to supermarkets and discounters that expect stable supply. Germany is expected to advance at 5.4% CAGR through 2036 as prepared packs and traceable sourcing support steady growth. Suppliers need clear documentation because German buyers often treat certification as part of shelf access.

• Hamburg and Bremen support seafood import flows through established cold-chain and logistics networks.
• German discounters favor stable pack sizes and price points for frozen shrimp assortments.
• Food safety controls in Germany favor exporters with residue testing and lot-level documentation.

FMI’s country-level view includes adjacent demand patterns across Shrimp in Germany for supplier planning and channel comparison.

Opportunity Analysis of Shrimp in Brazil

Brazil’s shrimp demand is supported by coastal food culture and farmed output. Local aquaculture gives the country a supply base that can serve restaurants and regional retail. Brazil is projected to rise at 4.5% CAGR through 2036 as domestic consumption expands from coastal centers into inland retail. The market remains more localized than India or China because export scale is smaller.

• Ceara and Rio Grande do Norte remain important shrimp farming states for regional supply.
• Foodservice demand in Recife and Salvador supports local shrimp consumption tied to coastal cuisine.
• Brazilian processors can gain share when cold-chain links improve between farms and inland supermarkets.

FMI’s country-level view includes adjacent demand patterns across Shrimp in Brazil for supplier planning and channel comparison.

Future Outlook for Shrimp in Japan

Japan’s shrimp industry is centered on high-quality imports and compact retail formats. Nissui has worked on land-based whiteleg shrimp farming as a domestic supply option. Japan is forecast at 5.8% CAGR through 2036 as foodservice and ready-to-cook formats keep shrimp relevant. The country will stay selective because buyers place high weight on texture and food safety.

• Tokyo and Osaka foodservice channels favor consistent portion size and clean product specification.
• Kagoshima land-based farming projects show how domestic supply can reduce import dependence in niche formats.
• Japanese retail buyers prefer stable cold-chain proof for frozen and cooked peeled shrimp packs.

FMI’s country-level view includes adjacent demand patterns across Shrimp in Japan for supplier planning and channel comparison.

In-depth Analysis of Shrimp in the United Kingdom

The United Kingdom relies heavily on imported shrimp across chilled meals and frozen seafood. FMI estimates the UK shrimp industry at USD 3.20 billion in 2025 with a 9.2% CAGR to 2035. The United Kingdom is expected to post 9.2% CAGR through 2036 as retailers expand ready-to-eat shrimp salads and cooked packs. The main buyer requirement is stable origin proof and shelf-life performance.

• Manchester processing and distribution hubs support chilled seafood movement into national grocery chains.
• UK retailers use prepared seafood ranges to reach consumers who want low-effort meal options.
• Seafish guidance influences responsible sourcing expectations across British seafood supply chains.

FMI’s country-level view includes adjacent demand patterns across Shrimp in the United Kingdom for supplier planning and channel comparison.

Competitive Landscape and Strategic Positioning

• The market is moderately fragmented with integrated Asian processors and regional wild-caught suppliers serving different buyer needs.
• Large firms win on farm access, processing control, export documentation, and branded seafood channels.
• Regional firms compete through origin identity and local foodservice relationships in premium markets.
• Entry barriers include disease management, cold-chain proof, residue testing, and retailer approval cycles.

Competition is shaped by control over raw shrimp and the ability to prove handling quality. Thai Union launched a shrimp decarbonization initiative with The Nature Conservancy in 2024 which shows how sustainability claims are moving into farm practice. That type of initiative matters when retailers ask for emissions and traceability proof. It also raises the bar for smaller processors that compete mainly on price.

Feed and farm input control also affects supplier strength. Thai Union Feedmill announced a sustainable shrimp production strategy in December 2024 to support Thailand’s shrimp competitiveness. Feed cost and health management affect pond performance before shrimp reaches a processor. This means vertically connected players can respond faster when buyers ask for proof on farm practices.

Companies active in shrimp feed have influence over farm productivity and raw material cost for processors.

Key Companies in the Shrimp Market

Competition includes integrated seafood groups, regional processors, and branded import suppliers.

Integrated seafood groups

• Charoen Pokphand Foods PCL
• Thai Union Group PCL
• Nissui Corporation

Regional processors and exporters

• Minh Phu Seafood Corporation
• Nueva Pescanova Group
• Seajoy Group
• Devi Sea Foods Limited

Specialist and country-focused suppliers

• Gulf Shrimp Company
• Labrador Fishermen’s Union Shrimp Company
• Ristic GmbH

Competitive Benchmarking: Shrimp Market

Company	Farm Supply Control	Processing Format Depth	Traceability and Retail Access	Geographic Footprint
Charoen Pokphand Foods	High	Strong	Strong	Asia and global exports
Thai Union Group	Medium	Strong	High	Global
Nissui Corporation	Medium	Medium	Strong	Japan and global
Minh Phu Seafood	High	Strong	Medium	Vietnam and exports
Nueva Pescanova	Medium	Strong	Medium	Europe and Latin America
Seajoy Group	Medium	Medium	Medium	Latin America and United States
Devi Sea Foods	High	Strong	Medium	India and exports

Source: Future Market Insights competitive analysis, 2026. Ratings reflect relative positioning based on farm supply control, processing breadth, and retail access.

Key Developments in Shrimp Market

• In October 2024, Nissui published its third survey of procured marine resources sustainability covering resources handled by Nissui Group companies.
• In May 2025, Thai Union secured a USD 150 million blue loan from the Asian Development Bank for sustainable shrimp and climate goals.
• In April 2024, Nueva Pescanova was ranked as the first fishing company in the world by Seafood Stewardship Index assessment.

Report Scope and Coverage

Item	Value
Quantitative Units	USD Billion
Market Definition	Farmed and wild shrimp sold for edible seafood and approved non-food use
Species	Gulf Shrimps, Farmed Whiteleg Shrimps, Giant Tiger Shrimps, Royal Red Shrimps, Blue Shrimps, Ocean Shrimps
Form	Canned, Breaded, Peeled, Cooked Peeled, Shell-On, Frozen
Source	Conventional, Organic
Processing Method	Direct, Indirect
Application	Food, Pharmaceuticals, Cosmetics, Industrial, Biotechnology
Regions Covered	North America, Latin America, Europe, East Asia, South Asia, Middle East and Africa
Countries Covered	India, China, United States, Germany, Brazil, Japan, United Kingdom
Key Companies Profiled	Charoen Pokphand Foods, Thai Union Group, Nissui Corporation, Minh Phu Seafood, Nueva Pescanova, Seajoy Group, Devi Sea Foods
Forecast Period	2026 to 2036
Approach	Bottom-up trade value and processed product mix model with country checks

Shrimp Market Breakdown By Species, Form, Source, Processing Method, Application and Region

Shrimp Market Segmented by Species:

• Gulf Shrimps
• Farmed Whiteleg Shrimps
• Giant Tiger Shrimps
• Royal Red Shrimps
• Blue Shrimps
• Ocean Shrimps

Shrimp Market Segmented by Form:

• Canned
• Breaded
• Peeled
• Cooked Peeled
• Shell-On
• Frozen

Shrimp Market Segmented by Source:

• Conventional
• Organic

Shrimp Market Segmented by Processing Method:

• Direct
• Indirect

Shrimp Market Segmented by Application:

• Food
• Pharmaceuticals
• Cosmetics
• Industrial
• Biotechnology

Regional Taxonomy

• North America
  • United States
  • Canada
• Latin America
  • Brazil
  • Ecuador
  • Mexico
• Europe
  • Germany
  • United Kingdom
  • France
  • Spain
• East Asia
  • China
  • Japan
  • South Korea
• South Asia and Pacific
  • India
  • Vietnam
  • Thailand
  • Australia
• Middle East and Africa
  • Saudi Arabia
  • UAE
  • South Africa

Research Sources and Bibliography

1. Food and Agriculture Organization of the United Nations. (2025, June 12). GLOBEFISH Quarterly Shrimp Analysis.
2. Food and Agriculture Organization of the United Nations. (2025, February 17). World fish trade fall in 2024
3. Marine Products Export Development Authority. (2026, April). Approved Press Release Note 2024-25.
4. Marine Products Export Development Authority. (2026). Marine Products Exports.
5. Cámara Nacional de Acuacultura. (2026). Estadísticas de exportaciones ecuatorianas de camarón.
6. National Oceanic and Atmospheric Administration. (2026, March 3). Fisheries of the United States.
7. Thai Union Group. (2025, May 8). Thai Union Group receives landmark USD 150 million blue loan from Asian Development Bank.
8. Thai Union Feedmill. (2024, December 17). TFM unveils sustainable shrimp production strategy to strengthen Thailand’s global market position.
9. Nissui Corporation. (2024, October 8). Results of the Third Survey of Procured Marine Resources Sustainability by the Nissui Group.