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What Are the Projected Market Size and Growth Rates for the White Shrimp Market From 2025 To 2029?

There has been a significant expansion in the white shrimp market in the past few years. The market that was valued at $21.73 billion in 2024 is expected to reach $23.04 billion in 2025, exhibiting a compound annual growth rate (CAGR) of 6.0%. The substantial growth in the previous years can be credited to the rise in consumer appetite for seafood, growing knowledge about shrimp’s health advantages, the emergence of online shopping platforms, surging population, and evolving dietary choices.

The market size of white shrimp is anticipated to experience impressive expansion in the upcoming years, rising to $28.71 billion by 2029 with a compound annual growth rate (CAGR) of 5.7%. The anticipated boom during the outlook period can be credited to the increasing preference for shrimp-based dishes, the expanding international appetite for Asian shrimp, the progressive shift in consumer tastes toward frozen shrimp, and a rise in the demand for ecologically responsible and high-quality shrimp products, along with an growing focus on environmentally sound aquaculture practices. Dominant trends for the predicted period encompass an increase in demand for environmentally conscious shrimp products, the application of innovative aquaculture methods like closed-loop systems, technological advancements in freezing methods and packaging, a rise in demand for convenient and ready-to-cook seafood selections, and the adoption of sustainable practices.

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Which Primay Drivers Are Accelerating Growth in the White Shrimp Market?

The surge in seafood demand is projected to fuel the white shrimp market’s expansion. Seafood includes edible marine organisms like fish, shellfish, and other aquatic species, appreciated for their nutritional advantages. Factors such as shifting dietary habits, increasing disposable income, and awareness about seafood’s health benefits contribute to the growing demand for seafood. White shrimp, notable for their delicate taste and soft texture, are frequently used in various seafood dishes like shrimp cocktails, pasta, and stir-fries. They are a versatile component in both sophisticated and simple cuisine. For example, as per Sea fish, a UK-based organization that supports the seafood industry, seafood imports from Iceland to the UK totalled £286.3 ($323.77) million in 2022, representing 8% of the total £3.64 ($4.11) billion in seafood imports. This was a rise of £31.2 ($35.28) million (+12%) from 2021. Hence, the soaring demand for seafood is enhancing the growth of the white shrimp market.

Which Primary Segments of the White Shrimp Market Are Driving Growth and Industry Transformations?

The white shrimp market covered in this report is segmented –

1) By Product Type: Atlantic White Shrimp, Asia-Pacific White Shrimp, South America White Shrimp

2) By Form: Frozen, Canned, Peeled, Cooked, Shell-On

3) By Application: Food, Cosmetics, Pharmaceuticals, Biotechnology And Life science

Subsegments:

1) By Atlantic White Shrimp: Wild-Caught Atlantic White Shrimp, Farmed Atlantic White Shrimp, Fresh Atlantic White Shrimp, Frozen Atlantic White Shrimp

2) By Asia-Pacific White Shrimp: Vannamei White Shrimp, Wild-Caught Asia-Pacific White Shrimp, Farmed Asia-Pacific White Shrimp, Processed Asia-Pacific White Shrimp

3) By South America White Shrimp: Ecuadorian White Shrimp, Wild-Caught South America White Shrimp, Farmed South America White Shrimp, Organic South America White Shrimp

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Which Regions Are Key Players in the Growth of the 245 Market?

Asia-Pacific was the largest region in the white shrimp market in 2024 and it is expected to be the fastest-growing region in the forecast period. The regions covered in the white shrimp market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

What Are the Current Market Growth and Trends in the White Shrimp Industry?

Primary players in the white shrimp market are concentrating their efforts on introducing innovative, genetically enhanced white shrimp as a measure to counteract diseases and bolster the longevity of the aquaculture industry. The genetic enhancement of white shrimp via selective breeding or genetic modification is geared towards raising the efficiency, sustainability, and overall standard of the shrimp farming industry. As an example, the Department of Fisheries (an organization in Thailand operating under the wing of the Ministry of Agriculture and Cooperatives and advocating for the fishing industry) rolled out two new shrimp breeds, namely Petchada 1 and Sida 1 in January 2024. While Petchada 1 boasts a rapid growth rate, Sida 1 is engineered to withstand the early mortality syndrome (EMS) – a bacterial disease that has severely affected shrimp farming in the nation since 2012. The development of these breeds relied on selective breeding and molecular genetic methods, tapping into different strains of Pacific white shrimp sourced from the U.S., Guam, and Thailand. These new strains are currently undergoing trial runs in commercial settings after showing promising returns in biosecure environments. The objective behind this move is to cut down on the losses endured by shrimp farmers and safeguard the future of the farming industry.

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What Parameters Are Used to Define the White Shrimp Market?

White shrimp are a species of shrimp commonly found in warm coastal waters. They are characterized by their light, translucent bodies with a slightly grayish or white tint. These shrimp are widely harvested for commercial purposes due to their tender, sweet flavor and versatility in cooking. They are often used in a variety of dishes such as seafood boils, shrimp cocktails, and stir-fries.

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