Farmed Shrimp Market to Hit USD 64.9 Bn by 2032, Growing at 4.0% CAGR Amid Aquaculture Innovation Boom

This sustained demand is largely fueled by rising protein consumption worldwide and technological advancements in aquaculture, particularly across Asian markets where production efficiencies continue improving.

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Market Overview & Regional Analysis

Asia-Pacific commands the global shrimp farming landscape with over 70% production share, primarily driven by Vietnam, Thailand, and Indonesia's low-cost operations. Ecuador has emerged as a Western Hemisphere powerhouse through its innovative breeding programs, while India benefits from extensive coastal farming zones. The US and EU markets remain critical import destinations, though increasingly focused on sustainable certification standards.

Latin American producers are gaining market share through biosecurity advancements, while Chinese output faces recurring disease challenges. The Middle East shows promise as an emerging production hub, leveraging geothermal aquaculture technologies in desert climates. Trade patterns increasingly favor regional supply chains, though tariff structures remain a persistent challenge.

Key Market Drivers and Opportunities

Three fundamental forces are reshaping industry dynamics: The global shift toward affordable aquatic proteins, breakthroughs in breeding technologies like Specific Pathogen Free (SPF) shrimp stocks, and the rise of hyper-intensive recirculating aquaculture systems (RAS). Retail and foodservice sectors account for 68% of demand, with processed formats gaining 12% annual growth through convenient value-added products.

Significant opportunities exist in blockchain-enabled traceability systems and vertically integrated farming models. The development of algal-based feeds could revolutionize production economics, while premium segments like organic and antibiotic-free shrimp command 20-35% price premiums in developed markets.

Challenges & Restraints

The industry faces mounting pressures from climate variability impacting coastal farms, alongside strict antibiotic regulations in Western markets. Feed costs comprising 50-60% of production expenses remain volatile, while disease outbreaks like Early Mortality Syndrome continue causing 15-20% annual losses. Sustainability certifications, though beneficial, add 8-12% to operational costs - a significant barrier for small-scale producers.

Market Segmentation by Type

• Whiteleg Shrimp
• Giant Tiger Prawn
• Akiami Paste Shrimp
• Others

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Market Segmentation by Application

• Household
• Restaurant & Hotel

Market Segmentation and Key Players

• Minh Phu Seafood Corp
• Thai Union
• Santa Priscila
• Expalsa
• Zhanjiang Guolian
• Pescanova
• Omarsa
• Songa
• Iberconsa
• Conarpesa
• Royal Greenland A/S
• ProExpo
• Quoc Viet
• Devi Fisheries
• The Liberty Group
• Nekkanti Sea Foods

Report Scope

This comprehensive analysis covers the global farmed shrimp industry from 2024-2032, featuring:

• Production volume and value forecasts

• Price trend analysis across distribution channels

• Impact assessment of sustainability initiatives

The study evaluates competitive strategies through detailed profiles of leading producers, analyzing:

• Production capacity expansions

• Export market penetration

• Feed sourcing strategies

• Product certification portfolios

Our methodology combined interviews with 43 industry executives across the value chain with proprietary trade flow analysis, providing actionable insights into:

• Emerging farming technologies

• Supply chain reorganization

• Consumer preference shifts

• Regulatory compliance pressures

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