Friday, June 14

Europe Shrimp Market Size, Share, Price, Trends, Growth, Report and Forecast 2023-2028

According to the report by Expert Market Research (EMR), the Europe shrimp market size reached a volume of 1,115.3 KMT in 2022. Aided by the growing per capita consumption of seafood and increase in sales of pre-packed and frozen fish products, the market is projected to further grow at a CAGR of 1.6% between 2023 and 2028 to reach a volume of 1,219.0 KMT by 2028.

Shrimp, a versatile seafood item, is a rich source of protein and other essential nutrients, including iodine, selenium, and vitamin B12. It is widely used in various cuisines due to its delicate flavour and texture. Besides its culinary uses, shrimp also finds applications in dietary supplements due to its high protein content and the presence of omega-3 fatty acids, which are beneficial for heart health.

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The escalating demand for protein-rich seafood is one of the key trends driving the Europe shrimp market growth. There has been a significant shift towards including more seafood in European diets as a result of increased understanding of the health advantages of seafood eating. Demand for foods, goods, and supplements made with prawns has increased as a result of this change. Additionally, the rising popularity of fitness and wellness has boosted shrimp’s status as a staple food among health-conscious people.

The rising uses of shrimp in different cuisines are a major contributor to the expansion of the shrimp market in Europe. Shrimp is a fundamental ingredient in Mediterranean cuisine, which is prevalent in southern Europe. In recent years, Asian cuisines, where shrimp is a primary ingredient, have gained popularity in the region, contributing to the Europe shrimp market development. The primary drivers also include the rising demand for seafood products at competitive prices and the change in the prawn processing industry towards high volume and frozen product markets.

Moreover, the increasing demand for alternative protein sources in the food and beverage industry has led to a heightened focus on shrimp as a potential ingredient for various plant-based products. The emergence of innovative shrimp-based products, such as shrimp burgers and shrimp protein powders, have catered to the growing demand for alternative protein sources, thereby bolstering the Europe shrimp market expansion.

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Europe Shrimp Market Segmentation

The market can be divided based on environment, species, product type, distribution channel, source, and country.

Market Breakup by Environment

• Wild
• Farmed

Market Breakup by Species

• Penaeus Vannamei
• Penaeus Monodon
• Macrobrachium Rosenbergii
• Others

Market Breakup by Product Type

• Peeled
• Shell-On
• Cooked
• Breaded
• Others

Market Breakup by Distribution Channel

• Hypermarkets and Supermarkets
• Convenience Stores
• Hotels and Restaurants
• Online
• Others

Market Breakup by Source

• Domestic Production
• Imports

Market Breakup by Country

• Germany
• United Kingdom
• France
• Italy
• Netherland
• Spain
• Others

Competitive Landscape

The EMR report looks into the market shares, plant turnarounds, capacities, investments, and acquisitions and mergers, among other major developments, of the Europe shrimp companies. Some of the major key players explored in the report by Expert Market Research are as follows:

• Nordic Seafood A/S
• Heiploeg International B.V.
• Viciunai Group
• Afentoulis Liveris & Co. O.E.
• Sykes Seafoods Ltd.
• Seamark plc
• Morubel NV
• Others

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About Us:

Expert Market Research (EMR) is leading market research company with clients across the globe. Through comprehensive data collection and skilful analysis and interpretation of data, the company offers its clients extensive, latest and actionable market intelligence which enables them to make informed and intelligent decisions and strengthen their position in the market. The clientele ranges from Fortune 1000 companies to small and medium scale enterprises.

EMR customises syndicated reports according to clients’ requirements and expectations. The company is active across over 15 prominent industry domains, including food and beverages, chemicals and materials, technology and media, consumer goods, packaging, agriculture, and pharmaceuticals, among others.

Over 3000 EMR consultants and more than 100 analysts work very hard to ensure that clients get only the most updated, relevant, accurate and actionable industry intelligence so that they may formulate informed, effective and intelligent business strategies and ensure their leadership in the market.

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