Shrimp Market Reflects Remarkable Growth at 5.8%

Overview

New York, NY – Jan 29, 2026 – The global shrimp market is on a strong growth path, projected to reach USD 124.2 billion by 2034, rising from USD 70.7 billion in 2024 at a 5.8% CAGR from 2025 to 2034. Shrimp remains one of the most widely consumed seafood products across temperate and tropical regions, valued for its distinctive flavor, firm texture, and nutritional richness. It plays a key role in global diets and international trade but is highly perishable due to its high moisture content, free amino acids, and non-nitrogenous compounds, which make it susceptible to microbial spoilage, melanosis, and biochemical changes such as ATP breakdown and lipid oxidation.

Shrimp aquaculture has expanded rapidly since the 1970s, with annual growth rates exceeding 18%, and now supplies about 75% of all shrimp consumed worldwide. Production mainly focuses on two species—black tiger shrimp (Penaeus monodon) and white Pacific shrimp (Penaeus vannamei)—but this intensive reliance has heightened disease risks. One of the most damaging threats is white spot disease, caused by WSSV, which reduces productivity and poses long-term sustainability concerns for farms.

Technological innovations have begun reshaping the sector, especially through machine vision systems that provide precise and efficient measurement of shrimp size and weight. High-resolution imaging techniques and thresholding methods allow remarkably accurate length estimation, achieving precision levels of 0.43 mm. Algorithms such as OSTU and classical thinning extract skeletal lines that correlate strongly with real shrimp lengths, with R² values reaching 0.946, while processing speeds can be as fast as 0.01 seconds per shrimp. Weight prediction has also improved through advanced regression models—linear, power, and forced-power equations—delivering high accuracy across species. Non-linear regression tests on sushi shrimp, for instance, recorded very low errors (MAE 0.20 g, RMSE 0.25 g).

From a nutritional standpoint, shrimp remains an excellent protein source: a 3-ounce (85 g) serving provides 84.2 calories, 20.4 g protein, and essential minerals such as iodine, phosphorus, and iron. It is also rich in omega-3 fatty acids, supporting thyroid health, cognitive function, and overall wellness. Together, these biological, technological, and nutritional insights illustrate the evolving dynamics of the shrimp industry and the growing role of automation in improving efficiency and quality control.

Key Takeaways

• The Global Shrimp Market is projected to grow from USD 70.7 billion in 2024 to USD 124.2 billion by 2034 at a CAGR of 5.8%.
• L. vannamei led the species segment in 2024 with a 42.1% share due to its rapid growth and disease resistance.
• Aquaculture dominated the source segment in 2024 with a 69.3% share, driven by advanced farming practices in India, Vietnam, and Ecuador.
• Green/Head-off shrimp held a 31.2% share in the form segment in 2024, favored for easier packaging and longer shelf life.
• Hypermarkets and supermarkets led distribution channels in 2024 with a 43.4% share, supported by diverse offerings and cold-chain facilities.
• Asia-Pacific commanded a 47.4% market share in 2024, valued at USD 33.5 billion, due to extensive aquaculture and a favorable climate.

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Key Market Segments

By Species – L. vannamei Dominates with 42.1% Due to High Adaptability and Global Demand

In 2024, L. vannamei held a dominant position in the By Species segment of the Shrimp Market, capturing 42.1% of the share. Its strong performance is tied to its rapid growth rate, strong disease resistance, and excellent feed conversion efficiency, which make it the preferred choice for aquaculture farmers. Its adaptability across various farming environments in Asia-Pacific and Latin America supports high production volumes and export growth.

By Source – Aquaculture Dominates with 69.3% Due to Sustainable Production

In 2024, Aquaculture led the By Source segment of the Shrimp Market with a substantial 69.3% share. Enhanced hatchery management, better disease control, and advances in feed formulations have helped farmed shrimp outperform wild-caught varieties. Major producers such as India, Vietnam, and Ecuador anchor global shrimp exports, benefiting from large-scale aquaculture development programs.

By Form – Green/Head-off Dominates with 31.2% Owing to Easier Processing

In 2024, Green/Head-off shrimp secured a leading 31.2% share in the By Form segment. Its dominance comes from ease of processing, longer shelf stability, and suitability for frozen and value-added products, which are highly demanded in export markets worldwide.

By Distribution Channel – Hypermarkets & Supermarkets Dominate with 43.4%

In 2024, Hypermarkets and Supermarkets led the By Distribution Channel segment with a 43.4% share. Their dominance is supported by broad product assortments, strong cold-chain infrastructure, and attractive in-store promotions that appeal to urban and suburban shoppers.

List of Segments

By Species

• L. vannamei
• Trachipenaeus curvirostris
• Pleoticus muelleri
• P. monodon
• Acetes japonicus
• Pandalus borealis
• P. chinensis
• Others

By Source

• Aquaculture
• Wild

By Form

• Green/ Head-off
• Green/ Head-on
• Peeled
• Cooked
• Breaded
• Others

By Distribution Channel

• Hypermarkets and Supermarkets
• Convenience Stores
• Specialty Stores
• Online
• Others

Regional Analysis

Asia-Pacific stands as the clear leader in the global shrimp market, capturing 47.4% of the total share and reaching a market value of USD 33.5 billion in 2024. This strong position is supported by the region’s vast coastal aquaculture systems and favorable climate, which allow for consistent, year-round shrimp farming. Countries such as China, India, Vietnam, Thailand, and Indonesia form the backbone of global shrimp production, together exporting millions of tonnes each year.

As noted by the FAO, Asia contributes nearly 80% of the world’s farmed shrimp, underscoring its central role in international seafood supply chains. Government programs—including India’s PMMSY initiative and China’s seafood modernization efforts—are improving cold-chain infrastructure, farming sustainability, and overall efficiency. Additionally, growing incomes across the region continue to boost domestic seafood consumption, further strengthening Asia-Pacific’s dual advantage in both production and demand.

Top Use Cases

Everyday eating and home cooking: Shrimp’s biggest use case is still simple: everyday meals. It fits quick dishes (stir-fries, curries, pasta, fried rice) and cooks fast, which is why retailers keep it as a “core freezer and fresh counter” item. Nutrition also supports this use: a common 3 oz (85 g) cooked serving provides about 101 calories and 19.4 g protein, which is why shrimp is often positioned as a lean, high-protein option in home diets.

Frozen and value-added retail products: A fast-growing use case is shrimp sold as frozen, peeled, cooked, breaded, or ready-to-cook packs—formats that reduce prep time and shrink waste at home. This is closely tied to cold-chain strength and supermarket freezer space. Trade volumes show how large this channel is: the United States imported about 1.67 billion pounds (760,531 MT) of shrimp in 2024, giving processors and retailers the scale to offer many formats and price points.

Foodservice, catering, and quick-service menus: Restaurants use shrimp because it works across cuisines and menu price tiers—from noodles and tacos to premium grills. Even when consumers reduce dining out, shrimp remains a “high-impact add-on” ingredient for value meals. On the demand side, global shrimp trade data shows how quickly foodservice demand changes with the economy: FAO reported global shrimp imports fell 1.6% in volume and 5.9% in value in 2024, which typically reflects softer demand in major consuming markets and pressure on menu pricing.

Aquaculture production and export supply chains: Shrimp is also a production use case: aquaculture operators grow shrimp for domestic and export markets, making farming a backbone of supply. That production system supports hatcheries, feed suppliers, labs, and cold-chain logistics. FAO’s fisheries/aquaculture reporting shows overall aquatic animal output at 185.4 million tonnes in 2022, underlining how important farmed aquatic foods are in global protein supply chains.

lobal commodity trade and national export earnings: Shrimp is a major export commodity for several producing countries, so it is used as an earnings driver—supporting jobs in farming, processing plants, logistics, and ports. For example, World Bank/WITS trade data shows Ecuador’s 2024 exports of frozen shrimps and prawns at about $6.34 billion, with reported quantities of 1,386,340,000 kg—a clear sign of how shrimp anchors national seafood export revenue.

Conclusion

In conclusion, the shrimp market remains a vital and rapidly evolving segment within global seafood production, driven by rising consumer demand, expanding aquaculture systems, and strong international trade dynamics. Shrimp continues to be a key source of animal protein worldwide, supported by significant aquaculture production that accounts for more than half of global shrimp supply and improves food security and rural livelihoods across major producing nations.

While trade data show slight fluctuations—such as a 1.6% drop in import volumes in 2024—shrimp’s global footprint remains strong due to its versatility in fresh, frozen, value-added, and ready-to-eat forms, which appeal to diverse consumer segments.