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Global Shrimp Market 2019-2023 | Evolving Opportunities with Cooke Aquaculture Inc. & Maruha Nichiro Corp. |Technavio

January 10, 2020 GMT
Global Shrimp Market 2019-2023 | Evolving Opportunities with Cooke Aquaculture Inc. & Maruha Nichiro Corp. |Technavio
Global Shrimp Market 2019-2023 | Evolving Opportunities with Cooke Aquaculture Inc. & Maruha Nichiro Corp. |Technavio

LONDON--(BUSINESS WIRE)--Jan 9, 2020--

The global shrimp market size is poised to grow by USD 7.6 billion during 2019-2023, according to a new report by Technavio, progressing at a CAGR of over 5% during the forecast period. Request Free Sample Pages

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Technavio has announced its latest market research report titled global shrimp market 2019-2023. (Graphic: Business Wire)

Read the 121-page research report with TOC on “Shrimp Market Analysis Report by product (Frozen shrimp, Canned shrimp, and Others), distribution channel (Supermarkets and hypermarkets, Convenience stores, and Others), and geography (APAC, Europe, MEA, North America, and South America) 2019 - 2023”.

The market is driven by the health benefits of shrimp. Also, the rise in shrimp-based product launches is anticipated to further boost the growth of the shrimp market.

Consumers are becoming aware of the various health benefits of shrimp, which is expected to increase the demand for shrimp products during the forecast period. They are a good source of protein and vitamin D, and are low in carbohydrate content and calories. Also, shrimp contains a carotenoid called astaxanthin, which is a powerful antioxidant that can help in reducing the signs of aging. Furthermore, shrimp contains high amounts of iron, which helps in increasing oxygen flow to muscles, providing strength and endurance. Therefore, the various health benefits of shrimp are expected to make shrimp products popular among consumers and aid market growth during the forecast period.

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Major Five Shrimp Companies:

Cooke Aquaculture Inc.

Cooke Aquaculture Inc. operates its business through two segments, namely aquaculture, and fisheries. The company offers shrimp under the brands SEAJOY and Wanchese. In March 2019, the company announced the acquisition of All Seas Wholesale Inc. (All Seas Wholesale), a distributor of up to 40 species of fresh seafood, live shellfish, and frozen seafood products.

Maruha Nichiro Corp.

Maruha Nichiro Corp. has business operations under various segments, which include fisheries & aquaculture, trading segment, overseas business, processed foods, logistics, and others. The company offers shrimp under the brand, Maruha Nichiro.

Mazzetta Co. LLC

Mazzetta Co. LLC offers various seafood products, such as Atlantic cod, Atlantic salmon, Chilean sea bass, lobster, shrimp, mussels, crab, and tilapia, for retail as well as private-label vendors. The company offers shrimp under the brand, Oishii.

Rich Products Corp.

Rich Products Corp. offers various food products, such as toppings and icings, cakes and desserts, pizza, nut-free cookies, baker breads and rolls, and shrimp and seafood. The company offers shrimp under the brand, RICH’S.

Thai Union Group PCL

Thai Union Group PCL has business operations through various segments, namely ambient seafood; frozen and chilled seafood and related business; and pet food, value-added, and other business. The company offers shrimp under the brand, Chicken of the Sea.

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Shrimp Product Outlook (Revenue, USD Million, 2019 - 2023)

Shrimp Regional Outlook (Revenue, USD Million, 2019 - 2023)

Technavio’s sample reports are free of charge and contain multiple sections of the report, such as the market size and forecast, drivers, challenges, trends, and more.Request a free sample report

Related Reports on Consumer Staples include:

Shrimp Feed Market – Shrimp Feed Market by type (grower, finisher, starter) and geography (the Americas, APAC, and EMEA).

Fish and Seafood Market in Romania – Fish and Seafood Market in Romania by product (fresh and chilled, ambient, frozen, and others) and distribution channel (supermarkets and hypermarkets, convenience stores, specialty stores, and others).

About Technavio

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SOURCE: Technavio Research

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