By jahanzaib 
United States Shrimp Market Outlook
The United States shrimp market size attained a volume of more than 807.67 KMT in the year 2023. Aided by the growing consumer preference for seafood, increasing health consciousness, and the expanding demand for shrimp in both domestic and export markets, the market is projected to further grow at a compound annual growth rate (CAGR) of 2.4% between 2024 and 2032, reaching a market volume of almost 998.27 KMT by 2032.
Shrimp, one of the most widely consumed seafood species in the United States, is a versatile and nutrient-dense food, prized for its high protein content, low fat, and rich mineral and vitamin profile. Shrimp is used across a variety of culinary applications, including in appetizers, main courses, and seafood-based dishes, both in restaurants and households. With its expanding popularity in various cuisines, from traditional American dishes to global cuisines, the U.S. shrimp market continues to evolve, driven by consumer demand, product innovation, and sustainability initiatives in shrimp farming.
Increasing Demand for Shrimp
The growing consumer demand for United States shrimp market is driven by several factors, including an increasing focus on healthy eating habits, the rise of sustainable food sources, and the popularity of shrimp-based dishes. Shrimp is considered a lean protein, making it an attractive alternative to red meat and poultry, especially among health-conscious consumers. It is low in fat, high in protein, and a good source of key nutrients like omega-3 fatty acids, vitamin B12, and selenium, which are essential for heart health, muscle function, and overall wellness.
With the rising trend of healthier eating and a shift towards lower-calorie diets, shrimp is increasingly incorporated into various meal plans and diets, including the Mediterranean diet, low-carb diets, and ketogenic diets. Additionally, as awareness grows about the environmental and health risks associated with overconsumption of red meat, consumers are turning to seafood options like shrimp to diversify their diets, contributing to the sustained demand for shrimp in the U.S. market.
Sustainability and Farmed Shrimp
Sustainability is becoming an increasingly important factor in the United States shrimp market, with consumers and businesses alike placing greater emphasis on environmentally responsible sourcing. The United States imports a large portion of its shrimp, with major suppliers being countries such as Thailand, India, Ecuador, and Vietnam. In response to concerns regarding the environmental impact of shrimp farming, including habitat destruction, overfishing, and the use of chemicals and antibiotics, the market is witnessing a shift towards more sustainable farming practices.
Aquaculture, or farmed shrimp, has become an important segment within the U.S. shrimp industry as it offers a more controlled environment for production. Shrimp farming in the U.S. is increasingly adopting practices such as the use of closed-loop systems, recirculating aquaculture systems (RAS), and sustainable feed ingredients. These technologies aim to reduce the environmental footprint of shrimp farming by minimizing water use, preventing pollution, and improving feed conversion ratios, all while maintaining shrimp quality and quantity. As consumers become more conscientious about sustainability, shrimp produced through these methods is gaining favor, thus propelling the growth of farmed shrimp in the market.
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Shrimp Market Growth
Frozen shrimp is a dominant product in the United States shrimp market, owing to its extended shelf life, convenience, and widespread availability. The increasing preference for frozen shrimp can be attributed to factors such as the ease of storage, the ability to purchase in bulk, and the convenience of using pre-cooked or raw frozen shrimp in a variety of dishes. Frozen shrimp is widely used in both household kitchens and the foodservice industry, including in restaurants, fast food outlets, and catering services, where it is popular in salads, pasta dishes, and seafood cocktails.
As demand for ready-to-eat and easy-to-prepare meals rises, especially among busy professionals, frozen shrimp’s convenience factor is driving its growth. In addition, the increasing popularity of frozen shrimp in meal kits, which allow consumers to prepare restaurant-quality meals at home, is further contributing to the expansion of the frozen shrimp segment. Retailers, supermarkets, and online platforms are also driving the availability of frozen shrimp, ensuring easy access to a wide range of products for consumers.
Shrimp in the Foodservice Industry
The foodservice industry plays a significant role in driving the demand for United States shrimp market. Shrimp is a popular menu item in many restaurants, hotels, and foodservice establishments, where it is often featured in appetizers, pasta dishes, and seafood platters. The versatility of shrimp, its ability to complement various flavor profiles, and its quick cooking time make it a preferred choice for chefs and restaurateurs.
The rise of fast-casual dining and quick-service restaurants (QSRs) that feature shrimp-based dishes is also contributing to the growth of the shrimp market. Shrimp tacos, shrimp burgers, and shrimp bowls are becoming increasingly common in casual dining restaurants and QSRs, providing consumers with an affordable and convenient seafood option. In addition, the growth of online food delivery services and the increasing popularity of takeout meals are driving the demand for shrimp in the foodservice sector, as consumers seek seafood options that are easily delivered and ready to eat.
Import and Export Trends
The United States is one of the largest importers of shrimp, with shrimp accounting for a significant portion of the nation’s seafood imports. According to the U.S. National Marine Fisheries Service (NMFS), the country imports shrimp from several key regions, including Latin America and Southeast Asia. Among the leading exporters to the United States are countries like Ecuador, India, Thailand, and Vietnam, which supply both wild-caught and farmed shrimp to meet the growing demand.
As global trade continues to evolve, the United States shrimp market faces competition from other countries, particularly in terms of price and sustainability. In response, the United States is placing more emphasis on ensuring that shrimp imports meet strict quality standards, including regulations on food safety, environmental impact, and fair labor practices. The U.S. government, in collaboration with industry stakeholders, is increasingly focusing on improving supply chain transparency and ensuring that shrimp products are sustainably sourced.
The export potential of U.S.-produced shrimp is also expanding, as demand for American shrimp in international markets rises. Shrimp farming operations in the U.S. are becoming more competitive, offering high-quality products that cater to the increasing global demand for responsibly farmed shrimp. The strengthening of trade relations and improvements in export logistics are expected to enhance the United States shrimp market’s footprint in international markets during the forecast period.
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United States Shrimp Market Segmentation
The market can be divided based on environment, species, product category, distribution channel, and production and imports.
Market Breakup by Environment
- Farming
- Processing
Market Breakup by Species
- Penaeus Vannamei
- Penaeus Monodon
- Macrobrachium Rosenbergii
- Others
Market Breakup by Product Category
- Peeled
- Shell-on
- Cooked
- Breaded
- Others
Market Breakup by Distribution Channel
- Hypermarkets and Supermarkets
- Convenience Stores
- Hotels and Restaurants
- Online Stores
- Others
Market Breakup by Production and Imports
- Domestic Production
- Imports
Competitive Landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the United States shrimp market. Some of the major players explored in the report by Expert Market Research are as follows:
- Aqua Star
- Harbor Seafood
- Eastern Fish Company
- Mazzetta Company, LLC
- Others
Challenges Facing the U.S. Shrimp Market
Despite the positive growth prospects, the United States shrimp market faces several challenges. One of the primary challenges is the fluctuating prices of shrimp, influenced by factors such as supply chain disruptions, changes in global demand, and the cost of raw materials used in shrimp farming. These price fluctuations can impact the profitability of shrimp producers, particularly small-scale operators.
Additionally, the shrimp industry faces increasing pressure to meet sustainability and traceability standards. As consumer awareness of the environmental and social implications of shrimp farming rises, companies must invest in more sustainable production practices to maintain consumer trust and meet regulatory requirements.
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