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According to Publisher’s latest study, the global Farmed Whiteleg Shrimps market size was valued at US$ 29370 million in 2023. With growing demand in downstream market, the Farmed Whiteleg Shrimps is forecast to a readjusted size of US$ 45250 million by 2030 with a CAGR of 6.4% during review period.
Market Overview
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The research report highlights the growth potential of the global Farmed Whiteleg Shrimps market. Farmed Whiteleg Shrimps are expected to show stable growth in the future market. However, product differentiation, reducing costs, and supply chain optimization remain crucial for the widespread adoption of Farmed Whiteleg Shrimps. Market players need to invest in research and development, forge strategic partnerships, and align their offerings with evolving consumer preferences to capitalize on the immense opportunities presented by the Farmed Whiteleg Shrimps market.
Whiteleg shrimp (Litopenaeus vannamei, synonym Penaeus vannamei), also known as Pacific white shrimp or King prawn, is a species of prawn of the eastern Pacific Ocean commonly caught or farmed for food.
The farmed whiteleg shrimp are one of the world’s most commonly available and popular species of the shrimp. The other commonly accepted names of the farmed whiteleg shrimp are Pacific white shrimp, king prawn or tiger prawn. The farmed whiteleg shrimp appear translucent white in colour and are generally confused with white-coloured Gulf Mexico. However, based on the shrimp feed, water turbidity and substratum the shrimp can also appear in different colour bands ranging from green, brown, red, grey, and transverse colour bands. In addition to this, the farmed whiteleg shrimp are one of the most traded aquaculture commodities in the Asia and continues to dominate the overall global market as well owing to its extensively popularity and production across the major countries worldwide.
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Research Consultant
Key Features:
Market Drivers: Growing Global Appetite for Seafood: The market for farmed whiteleg shrimp is significantly influenced by the increased demand for seafood due to both its health benefits and rising disposable incomes.
Technological Advancements in Aquaculture: The efficiency and sustainability of shrimp farming are being improved by technological innovations such biofloc systems, recirculating aquaculture systems (RAS), and selective breeding.
Health and Nutritional Benefits: Whiteleg shrimp are becoming more and more popular among consumers who are health-conscious since they are high in protein, low in fat, and contain important nutrients like omega-3 fatty acids.
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Sustainability and Environmental Concerns: Modern aquaculture techniques that reduce environmental effect are becoming more and more popular as a result of the growing emphasis on ecologically friendly and sustainable farming methods.
Growth of the Food Service and Retail Sectors: Whiteleg shrimp are becoming more widely available and consumed as a result of the expansion of the food service and retail sectors, which include restaurants, grocery stores, and internet marketplaces.
Government Initiatives and Support: The market for farmed whiteleg shrimp is expanding thanks to government initiatives and support for sustainable aquaculture methods and seafood production.
Challenges: Disease Control and Biosecurity: It can be difficult to control illnesses and maintain biosecurity in shrimp farming operations, which can have an effect on output and profitability.
Environmental Concerns: Shrimp farming's negative effects on the environment, including as habitat loss, water pollution, and overfishing of feedstock, make sustainability difficult.
Regulatory Compliance: It can be difficult for producers to navigate the complicated regulatory framework for seafood safety, quality, and environmental standards.
Supply Chain and Logistics Issues: It might be difficult to guarantee the effective distribution and transportation of shrimp raised for food in order to preserve its quality and freshness, particularly in areas with poor infrastructure.
Market Competition and Pricing Pressure: Wild-caught shrimp and other seafood products compete in the market, which affects profitability and pricing.
Market Forecasts and Future Outlook: From 2024 to 2030, the world market for farmed whiteleg shrimp is anticipated to expand rapidly due to rising health-conscious consumption, technological improvements in aquaculture, and the growing demand for seafood. For growth to continue, issues like disease control and environmental problems must be addressed. There are plenty of chances in this sector to innovate, grow into new markets, and create environmentally safe and sustainable shrimp farming methods.
Opportunities: Sustainable and Eco-Friendly Farming Techniques: Investing in environmentally friendly and sustainable farming techniques, like recirculating aquaculture systems and biofloc systems, can both meet regulatory requirements and draw in ecologically conscientious customers.
Entry into new Markets: There is a lot of room for expansion when entering new markets, where there is a rising middle class and a growing need for premium seafood.
Product Innovations and Products with Added Value: Creating novel and value-added shrimp products—like flavored, pre-cooked, and ready-to-eat options—will improve consumer satisfaction and market distinction.
Emphasis on Premium and Organic Products: You can improve your market positioning and profitability by taking advantage of the growing demand for premium and organic shrimp products.
Forming strategic relationships and collaborations with food service providers, technological businesses, and retail chains can boost market penetration and stimulate innovation.
Improved Marketing and Branding Strategies: Using digital platforms and putting focused marketing efforts into action can raise consumer awareness and stimulate demand for farmed whiteleg shrimp.
Market Segmentation:
Farmed Whiteleg Shrimps market is split by Type and by Application. For the period 2019-2030, the growth among segments provides accurate calculations and forecasts for consumption value by Type, and by Application in terms of volume and value. In terms of type, seawater aquaculture has a market share of over 85%. In the field of application, the food industry has a market share of more than 90%.
1. Segmentation by type
• Seawater Aquaculture
• Freshwater Aquaculture
2. Segmentation by application
• Food
• Pharmaceutical and Cosmetics
• Others
Regional Insight: Asia-Pacific: Due to its high rates of shrimp production and consumption, the Asia-Pacific area is the market leader. Major contributors with strong aquaculture infrastructure and government assistance are China, Thailand, Vietnam, and India.
North America: The United States is a major market in North America, which follows closely. The region pushes the adoption of cutting-edge farming techniques by emphasizing quality, sustainability, and innovation in aquaculture practices.
Europe: Europe is a sizable market, leading nations being Spain, France, and Italy. The market for farmed whiteleg shrimp is increasing due to the region's emphasis on quality standards, sustainability, and seafood consumption.
Latin America: The region's economy is expanding gradually due to rising aquaculture investments, urbanization, and economic progress. The two largest markets are Ecuador and Brazil.
Middle East and Africa: Due to economic diversification, urbanization, and rising investments in sustainable seafood production, the Middle East and Africa region offers growth prospects. Notable markets with substantial potential are South Africa and the United Arab Emirates.
China is the global leading producer of farmed whiteleg shrimp, with a market share of over 35%.
1. Americas
• United States
• Canada
• Mexico
• Brazil
2. APAC
• China
• Japan
• Korea
• Southeast Asia
• India
• Australia
3. Europe
• Germany
• France
• UK
• Italy
• Russia
4. Middle East & Africa
• Egypt
• South Africa
• Israel
• Turkey
• GCC Countries
Competitive Landscape: The top five producers of farmed whiteleg shrimps in the world include Charoen Pokphand Foods PCL, Cooke Aquaculture, Omarsa, Songa, Santa Priscila, with a combined market share of over 10%. The largest producer of them is Charoen Pokphand Foods PCL, with a market share of about 5%.
The below companies that are profiled have been selected based on inputs gathered from primary experts and analyzing the company's coverage, product portfolio, its market penetration.
• Charoen Pokphand Foods PCL
• Cooke Aquaculture
• Omarsa
• Songa
• Santa Priscila
• Expalsa
• Zhanjiang Guolian Aquatic
• Proexpo
• Quoc Viet
• Avanti Feeds
• Carribbean Shrimp Company
• Ananda Group
Table of Contents
1 Scope of the Report
1.1 Market Introduction
1.2 Years Considered
1.3 Research Objectives
1.4 Market Research Methodology
1.5 Research Process and Data Source
1.6 Economic Indicators
1.7 Currency Considered
1.8 Market Estimation Caveats
2 Executive Summary
2.1 World Market Overview
2.1.1 Global Farmed Whiteleg Shrimps Annual Sales 2019-2030
2.1.2 World Current & Future Analysis for Farmed Whiteleg Shrimps by Geographic Region, 2019, 2023 & 2030
2.1.3 World Current & Future Analysis for Farmed Whiteleg Shrimps by Country/Region, 2019, 2023 & 2030
2.2 Farmed Whiteleg Shrimps Segment by Type
2.2.1 Seawater Aquaculture
2.2.2 Freshwater Aquaculture
2.3 Farmed Whiteleg Shrimps Sales by Type
2.3.1 Global Farmed Whiteleg Shrimps Sales Market Share by Type (2019-2024)
2.3.2 Global Farmed Whiteleg Shrimps Revenue and Market Share by Type (2019-2024)
2.3.3 Global Farmed Whiteleg Shrimps Sale Price by Type (2019-2024)
2.4 Farmed Whiteleg Shrimps Segment by Application
2.4.1 Food
2.4.2 Pharmaceutical and Cosmetics
2.4.3 Others
2.5 Farmed Whiteleg Shrimps Sales by Application
2.5.1 Global Farmed Whiteleg Shrimps Sale Market Share by Application (2019-2024)
2.5.2 Global Farmed Whiteleg Shrimps Revenue and Market Share by Application (2019-2024)
2.5.3 Global Farmed Whiteleg Shrimps Sale Price by Application (2019-2024)
3 Global Farmed Whiteleg Shrimps by Company
3.1 Global Farmed Whiteleg Shrimps Breakdown Data by Company
3.1.1 Global Farmed Whiteleg Shrimps Annual Sales by Company (2019-2024)
3.1.2 Global Farmed Whiteleg Shrimps Sales Market Share by Company (2019-2024)
3.2 Global Farmed Whiteleg Shrimps Annual Revenue by Company (2019-2024)
3.2.1 Global Farmed Whiteleg Shrimps Revenue by Company (2019-2024)
3.2.2 Global Farmed Whiteleg Shrimps Revenue Market Share by Company (2019-2024)
3.3 Global Farmed Whiteleg Shrimps Sale Price by Company
3.4 Key Manufacturers Farmed Whiteleg Shrimps Producing Area Distribution, Sales Area, Product Type
3.4.1 Key Manufacturers Farmed Whiteleg Shrimps Product Location Distribution
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