With CAGR of 3.5%, United States Shrimp Market Aiming For 1,106,000 Tons During 2023-2028
The latest report by IMARC Group, titled “United States Shrimp Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028”, offers a comprehensive analysis of the industry, which comprises insights on the United States (US) shrimp market. The report also includes competitor and regional analysis, and contemporary advancements in the market.
The United States shrimp market size reached 921,000 Tons in 2022. Looking forward, IMARC Group expects the market to reach 1,106,000 Tons by 2028, exhibiting a growth rate (CAGR) of 3.5% during 2023-2028.
Shrimp is a small, swimming crustacean found in both saltwater and freshwater environments. It is known for its elongated bodies, long antennae, and multiple pairs of legs. It is a rich source of protein, low in calories, and contains various vitamins and minerals. Shrimp is used in a wide range of culinary dishes, including salads, stir-fries, curries, and seafood cocktails. It can be boiled, grilled, fried, or incorporated into various recipes, making them a popular choice in many cuisines. It contains several antioxidants, such as astaxanthin, which helps to protect the body against oxidative stress and promote overall health.
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Market Trends and Drivers:
The shrimp market in United States is primarily being driven by the increasing demand for seafood. In line with this, the growing population, changing consumer preferences, and increasing awareness of the health benefits of shrimp are favoring the market growth. Additionally, the widespread product utilization in salads, stir-fries, curries, and seafood cocktails is positively influencing the market growth. Apart from this, the growing demand for eco-friendly shrimp farming practices due to the increasing focus on sustainability and responsible sourcing is providing a considerable boost to the market growth.
Furthermore, the rising consumer awareness regarding various health benefits of shrimp consumption, as it helps to improve eyesight, strengthen bones, enhance brain function, and reduce the risk of cancer, Alzheimer’s disease, and cardiovascular diseases (CVDs), is contributing to the market growth. Other factors, including significant growth in the food and beverage (F&B) industry, rapid improvement in shrimp farming practices, rising expenditure capacities of consumers, and the implementation of various government initiatives are supporting the market growth.
Explore the Full Report with Charts, Table of Contents, and List of Figures: https://www.imarcgroup.com/united-states-shrimp-market
Key Market Segmentation:
Breakup by Environment:
- Farmed
- Wild
Breakup by Domestic Production and Imports:
- Domestic Production
- Imports
Breakup by Species:
- Penaeus Vannamei
- Penaeus Monodon
- Macrobrachium Rosenbergii
- Others
Breakup by Product Categories:
- Peeled
- Shell-on
- Cooked
- Breaded
- Others
Breakup by Distribution Channel:
- Hypermarkets and Supermarkets
- Convenience Stores
- Hotels and Restaurants
- Online Stores
- Others
Competitive Landscape:
The competitive landscape of the market has been studied in the report with detailed profiles of the key players operating in the market.
Key highlights of the Report:
- Market Performance (2017-2022)
- Market Outlook (2023-2028)
- COVID-19 Impact on the Market
- Porter’s Five Forces Analysis
- Historical, Current and Future Market Trends
- Market Drivers and Success Factors
- SWOT Analysis
- Structure of the Market
- Value Chain Analysis
- Comprehensive Mapping of the Competitive Landscape
Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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IMARC’s information products include major market, scientific, economic, and technological developments for business leaders in pharmaceutical, industrial, and high-technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology, and novel processing methods are at the top of the company’s expertise.
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