China Shrimp Market Value, Size, Share, Growth, Source, Opportunity & Forecast by 2023by Rahul Rastogi Market Research Analyst
The China shrimp market has witnessed positive growth in
recent years on account of improving economic conditions, expanding
middle-class and increasing government support for the promotion of sustainable
According to the latest report by IMARC Group, titled “China Shrimp Market: Industry Trends,
Share, Size, Growth, Opportunity and Forecast 2018-2023”, the China shrimp market volume
reached of 1.8 Million Tons in 2017. China currently represents one of the
largest markets for shrimp as they form a major part of the regional cuisine.
Shrimp are a type of edible decapod crustaceans with a laterally compressed,
elongated body and long antennae and legs. They have a low concentration of
saturated fats and high amounts of iodine, vitamin B3, proteins, calcium,
omega-3s, vitamin D and zinc. Owing to their high nutrient content, shrimp
consumption helps in weight management, improves bone and brain health,
relieves eye fatigue, and lowers blood pressure and the risk of cardiovascular
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At present, China accounts for a significant share of shrimp
imports on account of expanding middle-class population which has led to an
increase in the overall domestic consumption. Apart from this, the shrimp
market has been gaining momentum on account of improvement in the economic
scenario and the quality of life which has further led to a rise in the demand
for seafood products. Moreover, government support aimed at promoting
sustainable shrimp farming practices, enhancing product quality and encouraging
product innovations are expected to drive the market over the next few years.
Looking forward, the China shrimp market is expected to reach a volume of 2
Million Tons by 2023, registering a CAGR of 2% during 2018-2023.
On the basis of shrimp source, the market has
been bifurcated into farmed shrimp and wild shrimp. Currently, farmed shrimp
dominate the China shrimp market, holding the largest share.
The shrimp market in China has been analyzed on
the basis of domestic production and imports. At present, domestic production
accounts for the majority of the shrimp consumption in the country.
The market has been categorized on the basis of
different species of shrimp available in China which mainly include penaeus
vannamei, penaeus monodon, macrobrachium rosenbergii and others. Amongst these,
penaeus vannamei is the most common specie being consumed across the region.
Based on product categories, the market has been
segregated as peeled, shell-on, cooked, breaded and others. Currently, peeled
shrimp hold the majority of the market share.
On the basis of distribution channels, the
market has been segmented into specialized retailers, hotels and restaurants,
supermarkets and hypermarkets, online and others. Amongst these, specialized
retailers exhibit a clear dominance in the China shrimp market.
The competitive landscape of the China shrimp
market has also been analyzed along with the profiles of the major players
operative in the industry.
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Created on Feb 8th 2019 06:53. Viewed 330 times.