LONDON–(BUSINESS WIRE)–The global shrimp market is expected to grow by USD 7.6 bn during 2019-2023 as per Technavio. This marks a significant market slowdown compared to the previous year’s growth estimates due to the impact of the COVID-19 pandemic in the first half of 2020. However, healthy growth is expected to continue throughout the forecast period, and the market is expected to grow at a CAGR of over 5%. Request challenges and opportunities that influence COVID-19 pandemic- Request Free Latest Sample Report of Global Shrimp Market.
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The market is driven by the health benefits of shrimp. In addition, the rise in shrimp-based product launches is anticipated to boost the growth of the shrimp market.
Shrimp is a rich source of protein, zinc, iron, and vitamin D. The presence of zinc in shrimp helps in increasing leptin levels in the human body. Astaxanthin, a carotenoid, present in shrimp, acts as a powerful antioxidant. In addition, the presence of zinc helps in reducing the signs of aging related to ultraviolet A (UVA) and sunlight. Further, shrimp also helps in improving comprehension, memory, and concentration as it contains iron, which increases the oxygen flow to the brain. The low carbohydrate and calorie content in shrimp aids in weight reduction. Such health benefits will be a key driver for the market during the forecast period.
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Major Five Shrimp Market Companies:
Cooke Aquaculture Inc.
The company operates in key business segments including Aquaculture and Fisheries. The company offers shrimp under the brands, SEAJOY and Wanchese.
Maruha Nichiro Corp.
The company operates in key business segments including Fisheries & Aquaculture, Trading Segment, Overseas Business, Processed Foods, Logistics, 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.
The company 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
The company operates in key business units including 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 Market Product Outlook (Revenue, USD Billion, 2019-2023)
- Frozen shrimp – size and forecast 2018-2023
- Canned shrimp – size and forecast 2018-2023
- Others – size and forecast 2018-2023
Shrimp Market Distribution Channel Outlook (Revenue, USD Billion, 2019-2023)
- Supermarkets and hypermarkets – size and forecast 2018-2023
- Convenience stores – size and forecast 2018-2023
- Others – size and forecast 2018-2023
Shrimp Market Geographic Landscape Outlook (Revenue, USD Billion, 2019-2023)
- APAC – size and forecast 2018-2023
- Europe – size and forecast 2018-2023
- MEA – size and forecast 2018-2023
- North America – size and forecast 2018-2023
- South America – size and forecast 2018-2023
- Key leading countries
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