What is Global Farmed Whiteleg Shrimps Market?
The Global Farmed Whiteleg Shrimps Market is an expansive and dynamic sector that focuses on the cultivation and distribution of Whiteleg Shrimps, a popular seafood delicacy. This market has a global reach, with various regions around the world participating in the farming and selling of these shrimps. The market's value was estimated at US$ 30020 million in 2022, and it is projected to grow to US$ 45380 million by 2029. This growth is expected to occur at a Compound Annual Growth Rate (CAGR) of 6.1% from 2023 to 2029. The leading producer in this market is Charoen Pokphand Foods PCL, which holds a market share of approximately 5%.
Seawater Aquaculture, Freshwater Aquaculture in the Global Farmed Whiteleg Shrimps Market:
The Global Farmed Whiteleg Shrimps Market is divided into two main categories based on the type of aquaculture used: Seawater Aquaculture and Freshwater Aquaculture. Seawater Aquaculture is the dominant type, holding a market share of over 85%. This method involves farming shrimps in a marine environment, which is their natural habitat. This method is preferred because it allows for the production of shrimps that are closer to their wild counterparts in terms of taste and texture. On the other hand, Freshwater Aquaculture is a method that involves farming shrimps in freshwater environments. This method is less common due to the different taste and texture of the shrimps produced. However, it is still a significant part of the market, providing an alternative for consumers who prefer freshwater shrimps.
Food, Pharmaceutical and Cosmetics, Others in the Global Farmed Whiteleg Shrimps Market:
The Global Farmed Whiteleg Shrimps Market serves various sectors, including the Food, Pharmaceutical and Cosmetics, and Other industries. The Food industry is the primary consumer of farmed Whiteleg Shrimps, holding a market share of more than 90%. These shrimps are used in a variety of dishes, from appetizers to main courses, in various cuisines around the world. In the Pharmaceutical industry, shrimps are used in the production of certain medicines due to their high protein content and other beneficial properties. The Cosmetics industry also uses shrimps in the production of some beauty products, as they contain certain compounds that are beneficial for the skin. The Other category includes various smaller sectors that use shrimps in different ways.
Global Farmed Whiteleg Shrimps Market Outlook:
The Global Farmed Whiteleg Shrimps Market is a thriving sector with a promising future. The market's value is projected to grow significantly in the coming years, driven by the increasing demand for seafood and the advancements in aquaculture technology. The leading producer in this market, Charoen Pokphand Foods PCL, is expected to continue its dominance, contributing significantly to the market's growth. The market is also expected to see a continued preference for seawater aquaculture and a high demand from the food industry. However, the market's growth may be affected by various factors, including changes in consumer preferences, environmental concerns, and regulatory changes.
| Report Metric | Details |
| Report Name | Farmed Whiteleg Shrimps Market |
| Accounted market size in 2022 | US$ 30020 in million |
| Forecasted market size in 2029 | US$ 45380 million |
| CAGR | 6.1% |
| Base Year | 2022 |
| Forecasted years | 2023 - 2029 |
| Segment by Type |
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| Segment by Application |
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| Production by Region |
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| Consumption by Region |
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| By Company | Charoen Pokphand Foods PCL, Cooke Aquaculture, Omarsa, Songa, Santa Priscila, Expalsa, Zhanjiang Guolian Aquatic, Proexpo, Quoc Viet, Avanti Feeds, Carribbean Shrimp Company, Ananda Group |
| Forecast units | USD million in value |
| Report coverage | Revenue and volume forecast, company share, competitive landscape, growth factors and trends |
