Farmed Whiteleg Shrimps Market size was valued at USD 16.2 Billion in 2022 and is projected to reach USD 23.7 Billion by 2030, growing at a CAGR of 5.0% from 2024 to 2030.
The South Korea farmed whiteleg shrimps market has experienced significant growth in recent years due to increasing domestic consumption and export demand. Whiteleg shrimp farming in the region primarily focuses on delivering high-quality shrimps for both local consumption and export, with a focus on sustainable practices to address environmental concerns. The farmed whiteleg shrimps are utilized across various applications, the most significant of which include food, pharmaceuticals and cosmetics, and others. These subsegments represent the different avenues in which farmed whiteleg shrimps are utilized to meet diverse consumer demands. The food segment, by far, remains the largest in terms of volume and value. Shrimps are a vital protein source for consumers, leading to significant market demand in both retail and foodservice sectors. The pharmaceutical and cosmetics applications leverage the potential benefits of shrimp-derived substances for a variety of uses, contributing to the diversification of the market. Furthermore, other applications include research, aquaculture feed, and pet products, which cater to niche yet important markets.
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The food segment accounts for the dominant share of the South Korea farmed whiteleg shrimp market. Shrimps are highly valued for their versatility, excellent taste, and rich nutritional profile. As one of the most widely consumed seafood products, farmed whiteleg shrimps are integrated into numerous culinary preparations, ranging from sushi and sashimi to stir-fries and soups. The increasing popularity of seafood-based diets in South Korea, especially in metropolitan areas, drives consistent demand. Consumers are also becoming more health-conscious, seeking high-protein, low-fat foods, which further boosts the appeal of farmed shrimp as a preferred dietary choice. The availability of whiteleg shrimps at various price points caters to different market segments, from budget-friendly to premium offerings, ensuring their widespread consumption across the population.In addition to domestic consumption, farmed whiteleg shrimps have a notable role in exports, with significant demand from countries like the United States, Japan, and China. Export-oriented shrimp farming has led to improvements in shrimp farming technologies, ensuring the production of high-quality products that meet international standards. The processing of farmed whiteleg shrimps, including packaging, freezing, and value-added products like shrimp cocktails or ready-to-cook meals, also plays a critical role in expanding market reach. This trend has contributed to South Korea's positioning as an important global player in the seafood trade, particularly within the shrimp sector.
The pharmaceutical and cosmetics industries have increasingly explored the use of farmed whiteleg shrimps due to the bioactive compounds and unique properties found in shrimp-derived substances. For pharmaceuticals, the chitin extracted from shrimp shells is widely recognized for its potential in drug delivery systems, wound healing, and the treatment of various skin conditions. As research into the therapeutic benefits of chitin progresses, South Korea’s pharmaceutical industry is integrating shrimp-based ingredients into products that promise to improve human health. The demand for sustainable and natural sources of ingredients in pharmaceuticals further drives the use of farmed whiteleg shrimps in this sector. With a growing interest in functional foods and nutraceuticals, the whiteleg shrimp is emerging as an attractive option for innovative pharmaceutical formulations.Similarly, the cosmetics sector is utilizing shrimp-derived substances, particularly chitosan, in various skincare products. Chitosan, known for its moisturizing, anti-aging, and skin-repairing properties, has found its way into a range of cosmetic formulations. The use of farmed whiteleg shrimps in cosmetics aligns with global trends favoring natural and eco-friendly ingredients. South Korean cosmetics brands, recognized for their innovation, have tapped into this market by developing premium skincare products infused with shrimp-based ingredients. The versatility of shrimp extracts in cosmetic formulations, combined with the growing preference for sustainable products, positions farmed whiteleg shrimps as a key player in the beauty and wellness industry.
In addition to food and pharmaceuticals, farmed whiteleg shrimps have various other applications in niche markets. One significant use is in aquaculture feed. Shrimp meal and other by-products from farmed whiteleg shrimps are used as high-protein ingredients in fish and pet food formulations. As the aquaculture industry grows, the demand for high-quality, sustainable feed options increases. The use of shrimp-based by-products provides a more sustainable alternative to traditional animal proteins used in feed, addressing both environmental and supply chain concerns. Furthermore, research applications, where farmed whiteleg shrimps are studied for their behavior, genetics, and resilience, also contribute to the overall market growth. These studies assist in improving farming techniques and increasing productivity, directly benefiting the farming sector.Another notable application is in the production of specialty products for the pet industry. As pet ownership rises, particularly in urban environments, demand for premium pet products, including shrimp-based treats and snacks, is increasing. Whiteleg shrimp-based pet foods provide a unique protein source for pets, offering a natural and nutritious alternative to other meat-based options. Additionally, farmed whiteleg shrimp research plays a crucial role in enhancing aquaculture practices. Innovations in shrimp farming, including sustainable practices and disease resistance, benefit not only the farmed shrimp sector but also other areas of marine biology, contributing to environmental sustainability.
Several key trends are shaping the South Korea farmed whiteleg shrimps market. One of the most significant trends is the growing demand for sustainable farming practices. As environmental concerns continue to rise globally, South Korean shrimp farmers are adopting more eco-friendly practices, such as recirculating aquaculture systems (RAS) that minimize water waste and improve shrimp health. Another trend is the increasing popularity of value-added shrimp products, such as pre-cooked, marinated, or ready-to-eat shrimp, catering to busy, health-conscious consumers who prefer convenience without compromising on nutrition. Additionally, there is a rising focus on traceability and transparency within the seafood supply chain. Consumers are becoming more selective about the origin of their food, and as such, farmed whiteleg shrimp producers in South Korea are emphasizing certification programs and third-party audits to ensure that their products are sustainable, responsibly farmed, and meet high-quality standards. These trends are not only transforming consumer expectations but are also fostering innovations that support the growth and future development of the South Korean farmed whiteleg shrimp industry.
The South Korea farmed whiteleg shrimps market presents numerous opportunities for growth and development. One of the most promising opportunities is the expansion of export markets. As consumer demand for high-quality, sustainably farmed seafood increases worldwide, South Korea is well-positioned to capitalize on its strong reputation for seafood quality. By enhancing its export capabilities and meeting international standards, South Korea can strengthen its foothold in key global markets such as the United States, Japan, and China. Furthermore, the growing demand for plant-based and seafood-based products in the health-conscious food market offers a new avenue for product diversification. There is also significant potential in the research and development of innovative shrimp-based ingredients for use in pharmaceuticals, cosmetics, and nutraceuticals.In the domestic market, the increasing popularity of ready-to-cook and processed shrimp products presents opportunities for value-added product lines. The South Korean food industry is highly focused on offering convenient yet healthy options to consumers, and shrimp products, with their high nutritional value, fit well into this trend. As consumer preferences shift towards more sustainable and natural products, there is also an opportunity for South Korean shrimp farmers to introduce more environmentally friendly farming practices, which could attract environmentally-conscious consumers. The market is primed for growth, and businesses within the shrimp farming sector can seize these opportunities to build long-term, sustainable success.
What is the primary use of farmed whiteleg shrimps in South Korea?
The primary use of farmed whiteleg shrimps in South Korea is for food consumption, including domestic sales and exports to international markets.
How do farmed whiteleg shrimps benefit the pharmaceutical industry?
Shrimp-derived ingredients, such as chitin, are used in drug delivery systems, wound healing, and skin treatments in pharmaceuticals.
What role do farmed whiteleg shrimps play in cosmetics?
Shrimp-based extracts, particularly chitosan, are used in skincare products for their moisturizing and anti-aging properties.
Are farmed whiteleg shrimps used for aquaculture feed?
Yes, shrimp meal and by-products from farmed whiteleg shrimps are commonly used in fish and pet food formulations.
What are some of the trends in the South Korean shrimp market?
Trends include a focus on sustainable farming practices, value-added shrimp products, and transparency in the seafood supply chain.
What are the export opportunities for South Korean farmed whiteleg shrimps?
South Korea has opportunities to expand its shrimp exports to markets like the U.S., Japan, and China, driven by demand for high-quality seafood.
Are there any sustainable farming practices being adopted?
Yes, sustainable farming practices like recirculating aquaculture systems (RAS) are increasingly being adopted to minimize environmental impact.
How is the demand for shrimp-based products in the food industry changing?
There is increasing demand for convenient, ready-to-cook, and value-added shrimp products driven by health-conscious and busy consumers.
What is the future outlook for the farmed whiteleg shrimp market in South Korea?
The market is expected to grow with increasing demand for sustainable products, innovations in shrimp farming, and expanding global exports.
Are farmed
Charoen Pokphand Foods PCL
Cooke Aquaculture
Omarsa
Songa
Santa Priscila
Expalsa
Zhanjiang Guolian Aquatic
Proexpo
Quoc Viet
Avanti Feeds
Carribbean Shrimp Company
Ananda Group
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