Global Shrimp Market - Trends and Forecast till 2025
Shrimps are classified as decapod crustaceans that play important roles in the food chain and are an important food source for larger animals ranging from fish to whales. Humans consume the muscular tails of several shrimp that are widely caught and farmed for consumption. Around 20% 0f the species are commercially significant that include Whiteleg, giant tiger prawn, akiami paste shrimp, southern rough shrimp, and others. Based on their categorization of presentation, grading, colour, and uniformity, most shrimp are sold frozen and marketed for high levels of omega-3 fatty acids and low levels of mercury along with proteins, vitamin A and B6, B12, C and E, thiamin, riboflavin, niacin, phosphorous, copper, choline, iodine, and astaxanthin. Request For Sample Copy of this Research Report : https://www.coherentmarketinsights.com/insight/request-sample/1232 Furthermore, it has anti-inflammatory, anti-ageing, and anti-cancer properties. Chitosan from shrimp shells has a range of application in pharmaceuticals, agrochemicals, cosmetics, and in water treatments. Pigments such as carotenoids and astaxanthin are obtained from shrimp waste and is widely used in the pharmaceutical industry. High nutritional benefits of shrimp along with increasing applications of chitosan and pigments obtained from shrimp are driving growth of the shrimp market. Moreover, growing consumption of seafood and increasing aquaculture industry are further fuelling growth of the shrimp market. For instance, according to United Nations Food and Agriculture Organization (UN FAO) survey in July 2016, the global per capita seafood consumption increased above 20 kg per person per year. Asia Pacific dominated the market in 2016 and accounted for 36.56% share in the global shrimp market. Rising health awareness, high availability of shrimps at low price, and growing food service industry are some of the major factors supporting growth of the shrimp market in the region. Countries such as China, India, Vietnam, Indonesia, and Thailand are some of the major producers of shrimp worldwide. Further, growing aquaculture and marine capture production is also expected to boost growth of the Asia shrimp market over the forecast period. According to UN FAO, the total marine capture production was highest in China at 14,811,390 tons in 2014, which increased by 3.4% to 15,314,000 in 2015. China, followed by Indonesia,