The new report by Expert Market Research titled, ‘United States Shrimp Market Report and Forecast 2023-2028’, gives an in-depth analysis of the United States shrimp market, assessing the market based on its segments like environments, species, product categories, distribution channels, production and imports.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
United States Shrimp Market Size, Share, Price Trends, Industry Report, Key Player, Major Segments, and Forecast
The key highlights of the report include:
Market Overview (2018-2028)
Forecast CAGR (2023-2028): 2.5%
Report Attribute
Details
Historical Period
2018-2022
Forecast Period
2023-2028
Base Year
2022
Growth Rate CAGR
2.5%
Major Players
Aqua Star, Harbor Seafood, Eastern Fish Company, Mazzetta Company, LLC, and others.
Shrimp has been one of the most widely consumed seafood in the United States owing to the significant health benefits offered by the product. Shrimp offers variety of vitamins and minerals and is great for curing depression. In this regard, the increasing inclination of Americans towards health and fitness with obesity becoming a primary concern is driving the market growth.
Over the forecast period, the increasing popularity of various shrimp cuisines in the country, bolstered by the rising dine-out activities, is anticipated to propel the demand for shrimp in the country. Furthermore, the strong foothold of major shrimp producers in the United States is anticipated to provide impetus to the market in the coming years.
United States Shrimp Industry Definition and Major Segments
Shrimp refers to a long-tailed marine creature which makes for a great seafood. It contains protein, sodium, magnesium, and vitamin B12, among others. It is highly nutritious and anti-depressant. It is very abundant and is usually found in freshwater steams and lakes. These are also found in muddy riverbeds and ocean floors.
On the basis of environment, the market can be segmented into:
Farming
Processing
Based on species, the market has been categorised into:
Penaeus Vannamei
Penaeus Monodon
Macrobrachium Rosenbergii
Others
The significant product categories include:
Peeled
Shell-on
Cooked
Breaded
Others
Based on distribution channel, the market has been divided into:
Hypermarkets and Supermarkets
Convenience Stores
Hotels and Restaurants
Online Stores
Others
By product and import, the market has been segmented into:
Domestic Production
Imports
United States Shrimp Market Trends
The key trends in the shrimp market in the United States include the rising demand for canned and premium packaged shrimp-based products in supermarket/hypermarkets and convenience stores. In addition to this, the thriving e-commerce sector in the country owing to the growing expansion of the seafood product portfolio of major online platforms is anticipated to be another crucial trend in the market.
Over the forecast period, the plans of United States government to increase the export of shrimp is likely to be another crucial driver in the market.
Key Market Players
The major players in the market are Aqua Star, Harbor Seafood, Eastern Fish Company, and Mazzetta Company, LLC, among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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