White Shrimp (Litopenaeus Setiferus) Market Size, Share, Growth, Trends, and Global Industry Analysis: By Type (Feed, Feed Additives, and Pharmaceuticals), By Country (China, India, Indonesia, Ecuador, Vietnam, Thailand, Mexico, and Rest of the World)

White Shrimp Market was valued at US$ 5,472.8 million in 2022 and is projected to grow at a CAGR of 6.7% over the forecast period. The growth of the market is attributed to the increasing demand for sustainable and high-quality shrimp products. In terms of product type, the feed segment dominates the market followed by feed additives and pharmaceuticals. In 2022, the Feed segment accounts for US$ 5,016 Million. The feed consists of almost 50% of the total shrimp farming cost. The quality of the feed determines the quality of harvested shrimp. It is regarded as one of, if not the most crucial factors in the viability and profitability of shrimp farming. These factors make shrimp feed the largest segment in the market.

The demand for Global White Shrimps is expected to grow significantly over the forecast years due to demand for shrimp products has been steadily increasing worldwide in recent years, driven by factors such as rising consumer awareness of the health benefits of seafood, the growing popularity of shrimp in Asian cuisine, and the increasing availability of affordable shrimp products. Shrimp is a particularly attractive protein source due to its nutritional value, versatility, and ease of preparation. As a result, the shrimp industry is expected to continue to grow in the coming years, with increasing demand for sustainable and high-quality shrimp products.

According to the Food and Agriculture Organization of the United Nations, global shrimp production reached a record high of 6.6 million tonnes in 2020, with major producing countries including China, India, Indonesia, Ecuador, and Vietnam. The largest markets for shrimp consumption are the United States, Japan, and Europe, with China, emerging as a significant consumer in recent years. The total amount of output in the world in 2016 was 4,055,690 metric tons (MT), and it grew by roughly 5-8% in the years that followed. China, Thailand, Vietnam, Indonesia, Malaysia, the Philippines, India, and Bangladesh accounted for the majority of the Asia-Pacific region's 3.42 million metric tons (MMT) or 80.1% of the world's output in 2017 which also witness proportional growth. Around 756,430 MT or 17.7 percent, were produced in the Americas (Ecuador, Mexico, Brazil, Venezuela, Honduras, Nicaragua, Guatemala, Belize, Panama, Peru, and others), while only 85,000 MT, or about 2 percent, came from the rest of the world.