Organic Shrimp Market

Global Organic Shrimp Market Size (2024 to 2029)

The Global Organic Shrimp Market size was worth US$ 3.4 billion in 2022, and it is estimated that it will reach a valuation of US$ 6.16 billion by 2028 with an annual development rate of 7.7% between 2023 and 2028.

Organic shrimp is one of the key products in the aquaculture market. It is grown in a controlled environment to increase production for commercial purposes. Organic shrimp are different from regular shrimp. They have fully followed organic principles according to European organic standards, and organic shrimp are in high demand in the seafood industry due to their taste and nutritional benefits. It is considered a rich source of selenium, iodine, and other nutrients to help maintain heart health. Organic shrimp are tasty, low in calories, and provide lots of healthy fats. They are highly nutritious and made up of iodine, selenium, and better heart health. Organic shrimp are rich in omega-3 fatty acids and control cholesterol levels. Organic shrimp are rich in nutritional value, low in calories, and provide lots of healthy fats and proteins. They contain omega-3 fats that lower cholesterol. As the preference for organic food increases, the demand for organic shrimp increases.

Recent Developments in Organic Shrimp Industry:

• In 2019, Cooke Inc acquired Seajoy Seafood Corporation, considered one of the largest vertically integrated premium shrimp farms in Latin America.
• In January 2018, the Fisheries Export and Development Authority partnered with COOP Cooperative, one of the largest retail and wholesale companies in Switzerland.
• In April 2016, Ristic GmbH and Morubel NV joined Dutch Telson B.V. They became a co-shareholder of GBC and acquired a 50% stake in Telson B.V.

Organic Shrimp Market Growth:

The increased awareness of organic food and the high nutritional profile of seafood are key factors contributing to the growth of the global organic shrimp market.

REPORT COVERAGE:

Drivers:

Increased consumption of vegan protein fuels the expansion of the global organic shrimp market. Organic shrimp are in great demand in the market due to their rich vitamins, minerals, proteins, and amazing properties that regulate the body's cholesterol levels. Because organic shrimp are highly nutritious, they are more expensive than conventional shrimp and follow regulations under certification. The increased consumption of healthy proteins and the propensity of consumers to pay attention to healthy products promote the expansion of organic shrimp in the world market. The propensity for organic and natural products, muscle strengthening, and weight control are factors that increase organic shrimp sales in the global market. The organic shrimp market is growing due to the increased quality, transparency, and consumer awareness of organic shrimp. Sustainable agriculture, optimization of organic food, low drug consumption and low pollution help to increase the production of organic shrimp in the market. The demand for shrimp has increased unprecedentedly. This is reflected in the growing exports of Western countries, such as the United States and Western European countries, and represents a significant part of the total demand for shrimp imported from Asian countries. Therefore, various government and state organizations have promoted infrastructure, raised awareness and promoted aquaculture technologies that help in the growth of organic shrimp in countries. The transition to organic and natural foods is recognized as alleviating pet allergies. These foods are free of chemical additives, toxic pesticides, and artificial ingredients that can cause discomfort to your pet.

As pet owners become more cautious about their pets' health and diet, there is a growing demand for organic and natural foods. In addition, the use of natural ingredients strengthens your pet's immune system. Organic shrimp products give your pet the energy it needs because they contain more nutrient-rich calories. Including organic shrimp in your pet's food can help reduce the risk of obesity. Eating organic shrimp improves longevity and quality of life. In addition, producers comply with various regulations established by the management agency and maintain relevant certifications and labels. The health benefits of shrimp include better bone and brain health, weight control, and lower risk of cardiovascular disease. Shrimp is a high-profit option that improves the overall health of consumers in a truly delicious way. There is a growing awareness of the health benefits associated with shrimp, which is a rapidly growing demand for shrimp around the world. There is a growing awareness among consumers of the need for a healthy lifestyle and the benefits of nutritious foods. Restaurant and hotel owners focus on keeping up with the latest trends to generate profit. Consumers focus on weight management and prefer organic and natural products to control obesity and reduce the risk of health problems. These factors are expected to increase organic shrimp sales. The growing popularity of seafood as a snack and the emphasis on convenience packaging has led to a growing market for organic shrimp. This improves the quality of organic shrimp and reduces consumer distrust to develop the organic shrimp market. Moreover, the increasing standardization in the organic shrimp business is likely to enhance the growth potential for key players in this market.

Restraints:

The expensive production of the growing vegan population destroys the market for organic shrimp. Changes in climatic conditions, such as the acidity of the water, the temperature and the oxygen levels in the sea, directly or indirectly affect the crop and may eventually hamper the growth of the market.

Impact of COVID 19 on the Organic Shrimp Market:

With the spread of COVID-19, the global economy and almost all industries face challenges. The global organic shrimp market is strongly influenced by the limited trade in the main countries. APAC's organic shrimp market has witnessed the mixed impact of the COVID-19 outbreak. India, for example, experienced a decline in demand for market-based wet goods and products, leading to a decline in shrimp prices due to limited export opportunities. On the other hand, the Indonesian market had little effect on shrimp demand and prices fell sharply due to abundant supply due to a sharp drop in exports abroad. After the intensity of this pandemic decline, the market is expected to witness significant growth in the global market.

Organic Shrimp Market Segmentation Analysis:

Sources play a critical role in the propagation and aquaculture of organic shrimp, as different species generally require different temperature and environmental conditions. Cold water organic shrimp species generally require temperatures in the range of 0°C to 8°C for effective reproduction, while warm water species thrive in tropical warm water temperatures and other environmental conditions for proper aquaculture.

By species, the market is classified according to the presence of various species in the ecosystem, and the global shrimp market is mainly classified into royal red shrimp, banded coral shrimp, farmed whiteleg shrimp, gulf shrimp and other species. The species-based distinction subsequently affects its consumption and commercial application.

The global market for organic shrimp based on the application sector has been largely segmented into pharmaceuticals, food and cosmetics. The rich nutritional profile, characterized by numerous proteins, nutrients, and minerals, has led to an exponential increase in demand for organic shrimp in recent years.

Geographical Segmentation Analysis:

• North America - the United States and Canada
• Europe - United Kingdom, Spain, Germany, Italy, and France
• The Asia Pacific - India, Japan, China, Australia, Singapore, Malaysia, South Korea, New Zealand, and Southeast Asia
• Latin America  - Brazil, Argentina, Mexico, and Rest of LATAM
• The Middle East and Africa - Africa and Middle East (Saudi Arabia, UAE, Lebanon, Jordan, Cyprus)

Regional Analysis:

Asia Pacific is expected to have the largest share of the global organic shrimp market due to increased awareness of the health benefits of organic food, growing demand for convenient packaging, and growing interest in product quality in Asia Pacific. North America is foreseen to develop with a robust CAGR in the global organic shrimp market over the outlook period. Sustainable agriculture, aquaculture, and increased consumption of seafood in North America contribute to the expansion of the North American market. Europe has significant growth opportunities in the global organic shrimp market due to the increased demand in the area. Europe is a major importer of organic shrimp on the world market. Europe and the rest of the world have significant growth and new opportunities in the global market due to the growing demand for organic shrimp. The manufacturers now have easy access to other Latin American countries, which is expected to drive growth in the global organic shrimp market during the forecast period.

Key Players in the Market:

Major key Players in the Global Organic Shrimp Market are

• Omarsa S.A
• Mseafood Corp
• Vinnbio India Pvt. Ltd
• Dom International Limited
• Ristic AG
• Seajoy Seafood Corporation
• Carribbean Shrimp Company Limited
• ArtisanFish LLC
• Ananda Group
• Orchid Marine