The new report by Expert Market Research titled, ‘Europe Shrimp Market Price, Size, Share, Trends, Growth, Report and Forecast 2023-2028’, gives in-depth analysis of the Europe Shrimp Market, assessing the market based on its segments like environment, species, processed product type, distribution channel, segment, and major regions.
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 analyzing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2018-2028):
- Historical Volume (2020): – 873.94 kilo tons
- Forecast CAGR (2023-2028): – 0.8%
The various health and nutritional benefits are one of the key catalysts driving the shrimp demand in Europe. Astaxanthin, a carotenoid nutrient that can serve as a strong antioxidant and protects the skin from premature ageing, is found in shrimps.
Selenium, which activates the enzymes required for healthy muscle metabolism, and also activates the enzymes that combat cancer growth, is also filled with them. Due to increasing awareness of the product’s health benefits, the Europe shrimp market is going to increase in the forecast period.
Industry Definition and Major Segments
Shrimps have thin and delicate legs and are small marine creatures. They are commonly found in rivers, lakes, as well as some coasts, along the seafloor. One of the most flavoured and tasty delicacies from the congregation of seafood is shrimps.
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On the basis of environment, the industry is divided into:
- Wild
- Farmed
By species, the industry is divided into:
- Penaeus Vannamei
- Penaeus Monodon
- Macrobrachium Rosenbergii
- Others
On the basis of processed product type, the industry is segmented into:
- Peeled
- Shell-On
- Cooked
- Breaded
- Others
On the basis of distribution channel, the industry is categorised into:
- Hypermarkets and Supermarkets
- Convenience Stores
- Hotels and Restaurants
- Online
- Others
On the basis of segment, the industry is bifurcated into:
- Domestic Production
- Imports
Based on region, the industry is divided into:
- United Kingdom
- Germany
- France
- Italy
- Netherland
- Spain
- Others
Market Trends
The shrimp industry in Europe is driven by the region’s rising per capita consumption of seafood. The growing demand for competitively priced seafood commodities and the change from the shrimp processing market to the high volume and frozen commodity segments are the key market drivers. Other factors are also contributing to the demand growth, such as the growing population and the booming food service industry in the area.
The increase in sales of pre-packed and frozen fish items, along with the preference for sustainable certified seafood, is expected to remain a key trend over the forecast period. But due to COVID-19, the shrimp market is going to face adverse effects caused by supply chain disruptions across industries.
Key Market Players
The major players in the market are Nordic Seafood A/S, Heiploeg Group, Vichiunai-RUS OOO, Liveris Afentoulis & Co., Sykes Seafoods Ltd., Shore NV, Seamark plc, and 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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