Global Shrimp Market is anticipated to be US$ 24.1 Billion by 2026
Shrimp market is expected to expand tremendously over the next few years due to its low cost as opposed to other species like salmon, crabs, tuna, and lobster. Shrimps, also known as prawns in Asia, these are one of the cheapest protein sources among all other forms of seafood available. For centuries shrimp farming has been a traditional occupation prevalent in Asia. Large-scale commercial farming began around the 1970s primarily to meet the increasing demands for protein from Western Europe, the US and Japan. Currently, shrimp farming has emerged globally as a robust profession, with production concentrated mainly in the Asia Pacific. According to Renub Research analysis, Global Shrimp Market is anticipated to be US$ 24.1 Billion by 2026. Over the prior few years, the production of shrimps from wild-harvest capture fish and aquaculture has almost equalled the former accounting for the major share of the global shrimp market. Companies are focusing on expanding their aquaculture bree...