Shrimp Market Size, Share, Growth, Trends, and Global Industry Analysis: By Species (White leg Shrimp, Tiger Shrimp, Gulf Shrimp, Pink Shrimp, Brown Shrimp, Others), By Source (Farmed, Wild-caught), By Distribution Channel (Supermarkets & Hypermarkets, Convenience Stores, Online Retail, Foodservice, Specialty Stores) and Region Forecast 2020-2031

Shrimp Market size was valued at US$ 65,876.4 million in 2024 and is projected to reach US$ 97,107.9 million by 2031 at a CAGR of 5.7% from 2025-2031. The market encompasses the global trade and production of shrimp, including both wild-caught and farmed varieties used primarily for human consumption. It involves multiple segments such as fresh, frozen, and processed shrimp products distributed through retail, foodservice, and industrial channels.

The market has witnessed significant growth driven by rising consumer demand for seafood protein, increasing aquaculture advancements, and expanding global trade networks. Key regions like Asia-Pacific dominate production, while North America and Europe are major importers, reflecting shifting dietary preferences and growing awareness of health benefits associated with shrimp consumption.

Facts & Figures

• Shrimp accounts for nearly one-third of the global seafood trade by value, making it one of the most valuable seafood commodities worldwide.
• Over 60% of shrimp consumed globally comes from aquaculture, reflecting the rapid growth and importance of farmed shrimp production.

Key Developments

• In February 2025, JALA and USSEC hosted the Shrimp Outlook 2025 event in Yogyakarta, Indonesia. The conference gathered 350 attendees, including shrimp farmers and industry players, to discuss local challenges and global insights. Discussions focused on enhancing competitiveness and accelerating certification processes to strengthen Indonesia's position in the global shrimp market.
• In March 2025,S.-based seafood brands Gorton’s and SeaPak unveiled new shrimp products aimed at meeting the growing consumer demand for convenient, restaurant-style meals at home. SeaPak launched Classic Cajun Style Shrimp, seasoned with a New Orleans-style spice blend, offering a flavorful option for consumers seeking bold tastes. Gorton’s introduced Coconut Shrimp and Double Crunch Shrimp, both made without antibiotics, artificial colors or flavors, and hydrogenated oils, catering to health-conscious individuals. These products are designed to provide easy preparation and high-quality shrimp experiences for consumers.

Shrimp Market Segmentation

Based on the species

• White leg Shrimp
• Tiger Shrimp
• Gulf Shrimp
• Pink Shrimp
• Brown Shrimp
• Others

Based on species, the market is led by the whiteleg shrimp (Litopenaeus vannamei), which is the foremost driver of market growth. This species dominates global production due to its fast growth rate, high adaptability to various farming environments, and resistance to diseases. Whiteleg shrimp's efficiency in aquaculture makes it the preferred choice among producers, enabling large-scale commercial farming. Additionally, its mild flavor and versatile culinary applications have driven strong consumer demand worldwide. These factors collectively position whiteleg shrimp as the leading species segment, significantly propelling expansion and innovation within the market.

Based on the source

• Farmed
• Wild-caught

Based on the source, the market is primarily driven by the farmed segment, which leads market growth. Aquaculture advancements have made farmed shrimp more reliable and scalable compared to wild-caught sources. Farmed shrimp production benefits from controlled environments that ensure consistent supply, improved disease management, and higher yield efficiency. Growing global demand for shrimp, combined with overfishing concerns and regulatory restrictions on wild shrimp harvesting, further bolsters the preference for farmed shrimp. Consequently, farmed shrimp is expected to remain the dominant source segment, playing a crucial role in meeting consumer demand and sustaining the market’s expansion worldwide.

Based on the distribution channel

• Supermarkets & Hypermarkets
• Convenience Stores
• Online Retail
• Foodservice
• Specialty Stores

Based on the distribution channel, the market is predominantly driven by supermarkets and hypermarkets, which serve as the leading segment. These retail formats offer wide product variety, competitive pricing, and easy accessibility, attracting a large consumer base. The growing trend of one-stop shopping and the increasing demand for fresh and frozen seafood have boosted shrimp sales in these outlets. Additionally, supermarkets and hypermarkets benefit from established supply chains and strong vendor relationships, enabling consistent product availability. This distribution channel plays a critical role in shaping consumer purchasing behavior and significantly contributes to the overall growth and expansion of the market.