Sales of Shrimp to Decelerate in 2020 as COVID-19 Pandemic Takes its Toll on Global Market
Report Description for Shrimps Market
This report provides the forecast and analysis of the global Shrimps market. It provides the historical data of 2012, along with the estimated data for 2017 and forecast data up to 2027 in terms of revenue (US$ Mn) and volume (MT). The report also includes macro-economic indicators, along with an outlook on shrimps for the global market. It includes drivers and restraints of the global shrimps market and their impact on each region during the forecast period. The report also comprises the study of ongoing industry trends and opportunities for the shrimps market. It also includes the key regulatory scenario of the shrimps market. For providing users a comprehensive view of the shrimps market, we have included detailed competitive analysis, along with key players in the market, and analysis on the strategies followed by them. The competitive dashboard provides a detailed comparison of shrimp manufacturers on the basis of revenue, product offerings and key strategies. The study encompasses market attractiveness analysis by source, species, application, form, distribution channel and region.
A detailed study of the shrimps market has provided our analysts an observation of the shift towards the consumption of shrimps over the forecast period. Consumers are increasingly preferring shrimps over other seafood products. The demand for shrimps among consumers for the preparing seafood at home as well as while ordering seafood in restaurants has increased as it is available at cheaper prices and has high nutritional content. On the other hand, other seafood products, such as salmon, tuna, crabs, lobsters, etc., are struggling to hold their market share due to increasing prices and lower supply.
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A number of primary and secondary sources were consulted during the course of the shrimps study. Secondary sources include Factiva, Hoovers, U.S. Food and Agriculture Organization Databases, ITC Trademap for export-import statistics and various government statistics & publications. This report covers market dynamics related to the shrimps market, which include drivers and trends driving each segment and opportunities in the shrimps market at the regional level. The report also includes analysis and insights into the potential of the shrimps market in certain regions. Detailed profiles of the providers are also included in the scope of the report to evaluate their long-term and short-term strategies, product portfolios and recent developments in the shrimps market. Some of the key players analysed are Charoen Pokphand Food PCL, Maruha Nichiro Corporation, High Liner Foods Inc., The Clover Leaf Seafoods Family, Nippon Suisan Kaisha, Ltd., Royal Greenland A/S, Blue Star Seafood Co. Ltd., Wild Planet Foods Inc., Ocean America Food SA, Rich Products Corporation, Siam Canadian Group Limited, DNI Group LLC, Surapon Foods Public Company Limited, Pacific Seafood Group, Morubel, Trident Seafoods Corporation and Sirena A/S.
The report includes the company profiles of key manufacturers of shrimps in North America, Latin America, Western Europe, Eastern Europe, Asia-Pacific excluding Japan, Japan and the Middle East & Africa. All key applications of shrimps have been considered based on secondary sources. Some of the key data points involved in the modelling approach include the seafood industry scenario, aquaculture industry scenario and fresh & frozen seafood outlook. The market has been forecasted based on constant currency rates.
Global Shrimps Market – By Source
- Cold Water
- Warm Water
Global Shrimps Market – By Species
- Gulf Shrimps
- Farmed Whiteleg Shrimps
- Banded Coral Shrimps
- Royal Red Shrimps
- Giant Tiger Shrimps
- Blue Shrimps
- Ocean Shrimps
Global Shrimps Market – By Application
- Food
- Pharmaceutical
- Cosmetics
- Industrial & Biotechnology
- Others
Global Shrimps Market – By Form
- Canned
- Frozen
- Peeled
- Cooked
- Shell-On
- Others (Breaded & Others)
Global Shrimps Market – By Distribution Channel
- Direct ( Business to Business)
- Indirect (Business to Consumer)
- Modern Trade
- Convenience Stores
- Other Retail Formats
Global Shrimps Market – By Region
- North America
- Latin America
- Western Europe
- Eastern Europe
- Asia-Pacific excluding Japan
- Japan
- MEA
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The data for the global shrimps market is estimated in terms of value and volume consumption. To arrive at the volume consumption of shrimps, the production data of countries that produce various types of shrimps was obtained from various stats across the globe and then taken into consideration. In addition, the production of export-import stats were referred for deriving consumption analysis. The data of the per-capita consumption of shrimps was tracked through various secondary sources for data validation. Furthermore, Future Market Insights estimated volume data on the consumption of shrimps for several countries by understanding the demand and supply of shrimps. This includes the analysis of the production, growth, volume & value sales, transition, pricing, population, consumer preference and consumption of shrimps among end-user verticals.
FMI then derived the volume consumption of shrimps across various regions, including North America, Latin America, Asia Pacific excluding Japan, Japan, Western Europe, Eastern Europe and the Middle East & Africa. Forecasting is done using an internal proprietary model using different macro-economic & industry-based demand driving factors that impact the market and its forecast trends by identifying and allocating a weighted score to forecast factors that influence the demand for shrimps. These factors were the representative of an entire value chain, as well as the macro-economic indicators such as production, which have been taken into consideration to arrive at the volume consumption of shrimps in respective countries.
The weighted average selling price of shrimps was considered to estimate the market size for top shrimp-consuming countries. These prices were captured in their respective countries and then converted into USD to offer forecasts in one consistent currency standard. The pricing of shrimps keep on fluctuating due to the demand-supply gap, excess of production in some countries, shrimp farm production and variations in the seasonal production of shrimps.
Given the characteristics of the market, FMI triangulated the data based on the supply side, demand side and the dynamics of the global shrimps market. To develop the global shrimps market forecast, FMI analysed various factors to understand their respective impact on the target market. However, computing the market across the abovementioned segments is more a matter of quantifying expectations and identifying opportunities rather than rationalising them after the forecast has been completed.
It is imperative to note that in an ever-fluctuating economy, we not only provide forecasts in terms of CAGR, but also analyse on the basis of key parameters, such as year-on-year (Y-o-Y) growth, to understand the predictability of the market and to identify the right opportunities.
Another key feature of this report is the analysis of the global shrimps market and the corresponding revenue forecast in terms of absolute dollar opportunity. This is usually overlooked while forecasting the market. However, absolute dollar opportunity is critical in assessing the level of opportunity that a provider can look to achieve, as well as to identify potential resources from a sales perspective in the global shrimps market.
To understand key segments in terms of their growth and performance in the global shrimps market, Future Market Insights has also presented a market attractiveness index. This index is expected to help providers identify existing market opportunities in the global shrimps market.
The report covers an in-depth analysis of all components of the value chain in the global shrimps market. In the final section of the report on the global Shrimps market, a competitive landscape is included to provide a dashboard view of global shrimp manufacturers.