The unprecedented COVID-19 pandemic has had a significant economic impact on the world. Given that the food industry is one of the most important sectors of the economy, it has a significant impact on the entire process, from the field to the consumer. Worker mobility restrictions, closures of food production facilities, and shifting consumer demand are putting undue strain on the food industry.
This report offers useful and actionable market insights for Frozen Shrimp. The most recent Fact.MR report provides details on the current market scenario in various regions, as well as historical data and market forecasts. The report also includes sales and demand data for the Frozen Shrimp Market in various industries and regions.
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Frozen shrimp market reached 2,627,511MT in 2021, growing 8.6% year-on-year . Frozen shrimp sales account for 43.7% of the frozen seafood market share and the market is expected to reach $ 48.8 billion by 2031, at a high CAGR of 8.4% .
Changes in lifestyle (shorter cooking times, more snack consumption, etc.) and increased health have driven a surge in demand for frozen fish and seafood such as frozen shrimp, squid and fillets. Frozen shrimp in particular is gaining popularity due to the rapid expansion of shrimp aquaculture, increasing initiatives by shrimp manufacturers, and increasing awareness of frozen shrimp online.
Market research conducted by Fact.MR provides exclusive information on how the market will grow. The study identifies important trends determining the growth of the Frozen Shrimp market. This newly published report sheds light on important dynamics such as drivers, restraints and opportunities for key market players and emerging players involved in production and supply. The latest report from Fact.MR offers a detailed market analysis of Frozen Shrimp.
This newly published and insightful report sheds light on Market Insights of Frozen Shrimp, key dynamics, impact on the entire value chain from supplier to end user, and growth of Frozen Shrimp Market .
Key Segments Covered in Frozen Shrimp Industry Survey
- Frozen Gulf Shrimp
- Frozen Farm White Leg Shrimp
- Frozen Striped Coral Shrimp
- Frozen Royal Red Shrimp
- Frozen Giant Tiger Shrimp
- Frozen Blue Shrimp
- Frozen Sea Shrimp
- by source
- Organic Frozen Shrimp
- Plain Frozen Shrimp
- by application
- by sales channel
- Frozen Shrimp Direct Sales
- Frozen Shrimp Indirect Sales
- modern trade
- specialty food store
- discount store
- online retail store
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Key Implications of Market Research
- The US is estimated to account for more than 81% of the North American market in 2021, driven by growing demand for ready-to-eat foods.
- China is estimated to account for 71.5% of the East Asian market share in 2021.
- Thailand is one of the prominent countries in the South Asian market with a market share of 27.2%.
- While conventional frozen shrimp reflects a market share of around 89%, organic shrimp is expected to witness a high CAGR of 9.7% over the forecast period owing to increasing environmental concerns.
“The market is driven by the convenience, upgraded storage quality, ease of use and longer shelf life characteristics of frozen shrimp,” said Fact.MR’s chief analyst.
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Who is the winner?
The global disruption caused by COVID-19 has forced many market leaders to evaluate their portfolios and rethink their strategies in 2020 and 2021. Companies that produce frozen shrimp have a clear vision, directing management efforts and capital to those areas with the greatest development potential of the organization. As a result of these assessments, we gained a competitive advantage and resulted in both strategic acquisitions and divestitures.
This has led to the tendency of companies indulging in mergers and acquisitions to acquire talent that they do not have yet to strengthen and strengthen their competitive advantage.
- For example, Seattle, Washington-based AquaStar, North America’s leading supplier of frozen seafood, entered into a joint venture in 2018 to acquire an stake in Indian shrimp producer Sagar Grandhi Exports, Ltd.
Major companies offering frozen shrimp include SeaPak Shrimp Company, Seafood Co., Aqua Star Corp., Clearwater Seafood, Aqua Chile, Toyo Suisan Kaisha, High Liner Foods, Surapon Foods, Nordic Seafood A/S and Thai Union Group. . .
For More Insight:- https://www.globenewswire.com/en/news-release/2022/07/20/2483049/0/en/Optimistic-Growth-of-Warehousing-Logistics-Sector-to-Provide-Consistency-in-Demand-for-Level-Loaders-Says-Fact-MR.html
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