North America Shrimp Market Size

The North America shrimp market is experiencing growth, with the market size expected to expand over the forecast period. The on-trade channel remains the primary avenue for shrimp sales, driven by consumer spending in restaurants, while the off-trade segment is rapidly growing, particularly through online grocery services. Canada is noted for its significant growth, influenced by a demand for sustainable and health-beneficial shrimp products. The United States shows a high consumption rate due to health awareness campaigns, and Mexico holds a substantial market share, although local cooperatives face challenges in meeting demand.

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Market Size of north america shrimp Industry

North America Shrimp Market Summary
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svg icon Study Period 2017 - 2029
svg icon Market Size (2024) USD 10.34 Billion
svg icon Market Size (2029) USD 11.04 Billion
svg icon Largest Share by Distribution Channel On-Trade
svg icon CAGR (2024 - 2029) 1.33 %
svg icon Largest Share by Country United States

Major Players

North America Shrimp Market Major Players

*Disclaimer: Major Players sorted in no particular order

Key Players

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North America Shrimp Market Analysis

The North America Shrimp Market size is estimated at 10.34 billion USD in 2024, and is expected to reach 11.04 billion USD by 2029, growing at a CAGR of 1.33% during the forecast period (2024-2029).

10.34 Billion

Market Size in 2024 (USD)

11.04 Billion

Market Size in 2029 (USD)

3.69 %

CAGR (2017-2023)

1.33 %

CAGR (2024-2029)

Largest Segment by Country

78.36 %

value share, United States, 2023

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The affluence in the United States and improvements in the distribution and marketing of shrimp can be linked to the country's rising shrimp per capita consumption.

Largest Segment by Form

60.22 %

value share, Frozen, 2023

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The larger sales of the frozen form of shrimp result from higher demand from the on-trade segment. The low-priced frozen shrimp with longer shelf life drives its demand.

Fastest-growing Segment by Country

1.82 %

Projected CAGR, Canada, 2024-2029

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Shrimp sales are projected to increase in Canada with an increase in production throughout the forecast period. This increase is due to the growing demand for fresh shrimp.

Fastest-growing Segment by Form

1.52 %

Projected CAGR, Canned, 2024-2029

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The growing need for ready-to-eat and ready-to-cook food products gave rise to the demand for canned shrimp. The sales are higher from the online distribution channel.

Leading Market Player

7.32 %

market share, Sysco Corporation, 2022

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The company offers a wide selection of shrimps, including domestic and international white and brown shrimps and black tiger shrimp, to the retail and foodservice sectors.

Advancements in supply chain and storage technology are assisting the retail growth of frozen shrimp by means of off-trade channels

  • Overall, the sales of shrimp products through the on-trade channel increased by 28.91% during 2020-2022. Several health advantages of shrimp have led to increased consumption in the region in recent years. The on-trade channel is the major channel for shrimp sales, as Americans spend around 65% of their money in restaurants to eat seafood, including shrimp. The majority of the sales of frozen shrimp were through the on-trade channel. When it comes to wholesale opportunities, good-quality frozen shrimp is in high demand across the restaurant business. Shrimp supply sometimes varies seasonally, but consumers have year-round access to high-quality frozen shrimp at a fixed price in restaurants. The sales value of frozen shrimp sold through on-trade channels registered a growth of 7.09% from 2019 to 2022.
  • Off-trade is predicted to be the fastest-growing segment in North America, majorly influenced by the expansion of online grocery delivery services across the region. The online channel is expected to be the fastest-growing distribution channel in the off-trade segment. It is projected to register a CAGR of 12.82% by value during the forecast period. This growth is favored by the increasing number of smartphone users, which increased by 11 million between 2020 and 2021. Around 45% of the population browse online websites through mobile devices.
  • Supermarkets and hypermarkets dominate the off-trade distribution channel segment, occupying 66.58% of the market share by value in 2022 due to the expansive network of outlets across the region and the incorporation of consumer-favorable technologies, like self-checkout, cashless/cardless payment, and door-step delivery. The major shrimp brands in the regional supermarkets are SeaPak, Wild Gulf Shrimp, and Sam's Choice.
North America Shrimp Market

The United States dominates the market, propelled by significant support by campaign strategies

  • Canada is the fastest-growing country in the North American shrimp market, and it is expected to register a CAGR of 3.97% during the forecast period (2023-2029). There is a growth in demand for label-friendly products such as sustainable seafood, locally produced, etc. This growth can be attributed to various health benefits of consuming shrimp, such as promoting bone and brain health and its anti-aging properties. Thus, such factors contribute to the growing trend of shrimp consumption in Canada.
  • The United States recorded a high consumption rate of shrimp in 2022. The sales value of shrimp registered a CAGR of 4.04% over 2017-22. Due to the various health benefits of consuming shrimp, consumption in the United States is rising and is anticipated to continue during the forecast period. This growing interest in the country is boosted by various awareness campaigns such as 'Eat Seafood America.' Astaxanthin, a substance found in algae that aids in preventing several chronic diseases, is abundant in shrimp, which also contributes to its high consumption rate.
  • In 2022, Mexico occupied a notable share of the market. El Mercado de la Viga is the largest seafood port and market in Mexico, responsible for supplying a population of more than 22 million to the country's metropolitan area. However, small local fishing cooperatives (co-ops) nationwide are finding it difficult to meet the demand for high-quality, environmentally friendly, yet reasonably priced seafood products, including shrimp.

North America Shrimp Industry Segmentation

Canned, Fresh / Chilled, Frozen, Processed are covered as segments by Form. Off-Trade, On-Trade are covered as segments by Distribution Channel. Canada, Mexico, United States are covered as segments by Country.

  • Overall, the sales of shrimp products through the on-trade channel increased by 28.91% during 2020-2022. Several health advantages of shrimp have led to increased consumption in the region in recent years. The on-trade channel is the major channel for shrimp sales, as Americans spend around 65% of their money in restaurants to eat seafood, including shrimp. The majority of the sales of frozen shrimp were through the on-trade channel. When it comes to wholesale opportunities, good-quality frozen shrimp is in high demand across the restaurant business. Shrimp supply sometimes varies seasonally, but consumers have year-round access to high-quality frozen shrimp at a fixed price in restaurants. The sales value of frozen shrimp sold through on-trade channels registered a growth of 7.09% from 2019 to 2022.
  • Off-trade is predicted to be the fastest-growing segment in North America, majorly influenced by the expansion of online grocery delivery services across the region. The online channel is expected to be the fastest-growing distribution channel in the off-trade segment. It is projected to register a CAGR of 12.82% by value during the forecast period. This growth is favored by the increasing number of smartphone users, which increased by 11 million between 2020 and 2021. Around 45% of the population browse online websites through mobile devices.
  • Supermarkets and hypermarkets dominate the off-trade distribution channel segment, occupying 66.58% of the market share by value in 2022 due to the expansive network of outlets across the region and the incorporation of consumer-favorable technologies, like self-checkout, cashless/cardless payment, and door-step delivery. The major shrimp brands in the regional supermarkets are SeaPak, Wild Gulf Shrimp, and Sam's Choice.
Form
Canned
Fresh / Chilled
Frozen
Processed
Distribution Channel
Off-Trade
Convenience Stores
Online Channel
Supermarkets and Hypermarkets
Others
On-Trade
Country
Canada
Mexico
United States
Rest of North America
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North America Shrimp Market Size Summary

The North America shrimp market is experiencing a steady growth trajectory, driven by increasing consumer demand and evolving distribution channels. The market is characterized by a significant shift towards the on-trade channel, where a substantial portion of shrimp sales occurs in restaurants, reflecting the high consumer expenditure on seafood dining. The off-trade segment, particularly online grocery delivery services, is emerging as the fastest-growing distribution channel, fueled by the rise in smartphone usage and the convenience of digital shopping. Supermarkets and hypermarkets dominate the off-trade market, leveraging technology to enhance consumer experience and streamline operations. The market is also witnessing a growing preference for sustainable and locally produced seafood, particularly in Canada, where health-conscious consumers are driving demand for label-friendly products.

The United States remains a major player in the regional shrimp market, with a robust consumption rate supported by health awareness campaigns and the availability of high-quality frozen shrimp. However, the US shrimp farming industry faces challenges from low-cost imports, prompting the development of new aquaculture projects to boost local production. Mexico, with its significant aquaculture operations, continues to be a key contributor to the market, despite challenges faced by local fishing cooperatives. The market is fragmented, with several key players holding a modest share, and recent innovations in shrimp farming technology, such as the Shrimpbox, are poised to enhance production efficiency. Despite the rising costs of aquaculture inputs and logistical challenges, the market remains resilient, with imports playing a crucial role in meeting the growing demand for shrimp across North America.

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North America Shrimp Market Size - Table of Contents

  1. 1. MARKET SEGMENTATION (includes market size in Value in USD, Forecasts up to 2029 and analysis of growth prospects)

    1. 1.1 Form

      1. 1.1.1 Canned

      2. 1.1.2 Fresh / Chilled

      3. 1.1.3 Frozen

      4. 1.1.4 Processed

    2. 1.2 Distribution Channel

      1. 1.2.1 Off-Trade

        1. 1.2.1.1 Convenience Stores

        2. 1.2.1.2 Online Channel

        3. 1.2.1.3 Supermarkets and Hypermarkets

        4. 1.2.1.4 Others

      2. 1.2.2 On-Trade

    3. 1.3 Country

      1. 1.3.1 Canada

      2. 1.3.2 Mexico

      3. 1.3.3 United States

      4. 1.3.4 Rest of North America

North America Shrimp Market Size FAQs

The North America Shrimp Market size is expected to reach USD 10.34 billion in 2024 and grow at a CAGR of 1.33% to reach USD 11.04 billion by 2029.

In 2024, the North America Shrimp Market size is expected to reach USD 10.34 billion.

North America Shrimp Market Report Snapshots

North America Shrimp Market SIZE & SHARE ANALYSIS - GROWTH TRENDS & FORECASTS UP TO 2029