Joey Moore
Member
Market Overview
The Europe shrimp market reaches a size of 878 Kilo Tons in 2024 and is projected to grow to 1,016 Kilo Tons by 2033, with a CAGR of 1.6% during the forecast period 2025-2033. Driven by increasing consumer demand for protein-rich diets and expanding shrimp selections in retail and food services, the market reflects a growing preference for seafood.
Study Assumption Years
- Base Year: 2024
- Historical Year/Period: 2019-2024
- Forecast Year/Period: 2025-2033
- The Europe shrimp market size was 878 Kilo Tons in 2024.
- The market is expected to reach 1,016 Kilo Tons by 2033.
- The market is forecast to grow at a CAGR of 1.6% during 2025-2033.
- Growth is fueled by a widespread enthusiasm for seafood and increased retail and food service sector expansion.
- Increasing awareness of shrimp's health benefits and rising fondness for Asian flavors boosts demand.
- There is a strong consumer trend towards organic and responsibly sourced shrimp.
- Innovative aquaculture methods, including eco-friendly recirculating systems, support year-round supply.
Market Growth Factors
The European shrimp market growth is significantly driven by the rising appeal of seafood and a shift towards protein-rich diets. This trend is supported by the continuous growth in retail and food service sectors, which are expanding their shrimp product offerings to meet evolving consumer demands. The market benefits from increased shrimp consumption awareness, fueled by its dense protein and essential nutrients.
Health benefits also catalyze the market as shrimps provide improved bone and brain health, aid weight management, reduce cardiovascular disease risks, relieve eye fatigue, and lower blood pressure. Shrimps' low fat and moderate omega-3 fat content increase their favorability among health-conscious consumers. The rising demand for carbohydrate-free foods leading to weight loss further enhances uptake, especially among consumers with weight loss goals.
Moreover, value-added and convenient shrimp products such as ready-to-eat, cooked, breaded, and canned shrimp are strongly involved market expansion. Due to hectic lifestyles across Europe, consumers prefer meals that are quick to prepare, fueling demand for processed shrimp products. This demand for cooked and breaded shrimp has notably risen, driven by trends toward ready-made shrimp products.
Market Segmentation
- Environment:
- Farmed
- Wild: Wild shrimps currently dominate the market.
- Domestic Production and Imports:
- Domestic Production
- Imports: The European shrimp industry is largely dependent upon imports.
- Species:
- Penaeus Vannamei: Currently dominates the market, holding the largest share.
- Penaeus Monodon
- Macrobrachium Rosenbergii
- Others
- Product Categories:
- Peeled: The peeled category accounts for the largest market share, representing the leading segment.
- Shell-on
- Cooked
- Breaded
- Others
- Distribution Channel:
- Hypermarkets and Supermarkets: Currently the biggest segment.
- Convenience Stores
- Hotels and Restaurants
- Online Stores
- Others
Northern Europe has a dominant position in the shrimp market due to its strong commitment to sustainably sourced and certified seafood. Southern European countries like Spain and Italy maintain their traditional seafood preferences, leading shrimp consumption and importation in that region. The market exhibits steady growth supported by these geographical preferences and sustainable seafood trends.
Competitive Landscape
The competitive landscape of the industry has also been examined along with the profiles of the key players.
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