The global shrimp market continues to demonstrate strong growth potential as worldwide seafood consumption increases, supported by rising health awareness, expanding aquaculture production, and evolving retail distribution channels. According to Fortune Business Insights, the global shrimp market was valued at USD 45.68 billion in 2025 and is projected to reach USD 86.29 billion by 2034, growing at a CAGR of 7.41% during the forecast period.
Consumers are increasingly incorporating seafood into their diets due to its high protein content, omega-3 fatty acids, and perceived health benefits. The shift toward healthier eating habits and protein-rich diets is significantly driving shrimp consumption across developed and emerging economies.
Aquaculture remains the backbone of global shrimp supply. Asia Pacific dominates global production, accounting for a significant share of the market in 2025. Countries such as China, India, Vietnam, and Thailand are major contributors due to strong export activities and growing domestic demand. The region held a 38.56% market share in 2025, highlighting its leadership in shrimp farming and processing.
The expansion of supermarkets, hypermarkets, specialty seafood stores, and online grocery platforms has improved product accessibility. E-commerce platforms are increasingly contributing to shrimp sales, offering consumers convenience and a wider variety of frozen and processed shrimp products.
The shrimp market is segmented into pink shrimp, white shrimp, brown shrimp, and others. Among these, the white shrimp segment holds a dominant share due to its widespread global acceptance, mild flavor profile, and high nutritional value.
Based on form, the market is divided into frozen and canned shrimp. The frozen segment dominates the market due to longer shelf life, ease of transportation, and strong presence in international trade, as most shrimp exports are shipped in frozen form.
Shrimp consumption is categorized into residential and commercial segments. The commercial segment, including hotels, restaurants, and catering services, accounts for a significant share owing to rising dining-out trends and increasing seafood menu offerings worldwide.
Asia Pacific remains the largest and fastest-growing region in the shrimp market. Strong aquaculture infrastructure, high domestic consumption, and export-oriented production drive regional dominance.
North America shows steady growth, driven by rising seafood imports and growing consumer preference for high-protein diets. The U.S. remains a key importer and consumer of shrimp globally.
South American countries, particularly Ecuador, are emerging as major exporters in the global shrimp trade, strengthening regional market growth.
Europe maintains consistent demand supported by established seafood consumption habits and strict quality standards. Meanwhile, the Middle East & Africa region is witnessing gradual growth due to increasing urbanization and rising disposable incomes.
Despite strong growth prospects, the shrimp market faces challenges such as fluctuating trade regulations, tariff barriers, environmental concerns related to aquaculture practices, and supply chain disruptions. Sustainability certifications and improved farming practices are becoming increasingly important to maintain long-term market growth.
The global shrimp market is poised for substantial expansion through 2034, driven by increasing seafood consumption, expanding aquaculture production, and growing retail penetration. With strong demand across both developed and emerging economies, the industry presents significant opportunities for producers, exporters, retailers, and investors worldwide.