Asia-Pacific Shrimp Market SIZE & SHARE ANALYSIS - GROWTH TRENDS & FORECASTS UP TO 2030

Asia-Pacific Shrimp Market Analysis

The Asia-Pacific Shrimp Market size is estimated at 92.74 billion USD in 2025, and is expected to reach 97.96 billion USD by 2030, growing at a CAGR of 1.10% during the forecast period (2025-2030).

The Asia-Pacific shrimp industry is experiencing significant technological transformation across its value chain, particularly in production and distribution methods. Advanced farming technologies are being implemented to address persistent challenges in shrimp aquaculture, where disease-related mortality rates currently average 1% monthly. In 2023, NaturalShrimp, Inc. achieved a breakthrough by developing and patenting the first commercially operational Recirculating Aquaculture System (RAS) specifically for shrimp, launching its initial wastewater trial in Mackay, Australia. This technological advancement represents a significant step toward sustainable and controlled shrimp production, potentially revolutionizing traditional farming methods.

The distribution landscape is evolving rapidly with the integration of digital technologies and modern retail formats. The region has witnessed a significant shift toward online purchasing channels, with China's online grocery shopping penetration reaching 10.28% in 2022. This digital transformation extends beyond mere sales platforms, as major retailers implement blockchain technology for supply chain transparency and robotic shopping solutions. Companies are investing in cold chain infrastructure and implementing sophisticated tracking systems to maintain product quality and extend shelf life throughout the distribution network.

Consumer preferences are increasingly influenced by health consciousness and sustainability concerns, particularly in developed markets. In Indonesia, health awareness has become a significant factor, with recent studies showing that one in three adults and one in five children aged 5-12 were overweight or obese in 2022, driving demand for healthier protein alternatives like shrimp. The industry is responding with innovations in sustainable farming practices, as exemplified by KEPCO's 2022 launch of an indoor shrimp production system designed for sustainable cultivation, projected to contribute 5% to total annual domestic production in Japan.

Production costs and operational efficiency remain critical challenges for the industry. Feed prices have experienced significant volatility, with increases ranging from 5-15% over the period 2020-2022, impacting production costs as feed typically comprises 50% of operational expenses. The industry is responding through vertical integration and technological adoption, with major producers investing in automated feeding systems and AI-driven monitoring solutions. Japan's high labor force participation rate of 48.31% in 2022 has further accelerated the adoption of automation in processing facilities, while India's significant working population, with 40.1% engaged in the labor force, has driven innovation in processing and packaging solutions to meet evolving consumer demands.

Asia-Pacific Shrimp Market Trends

Growing demand for Asian shrimp across the globe will propel the production

• Asia accounts for two-thirds of world shrimp production, which is anticipated to grow at a steady or declining pace. With the rising production costs and diseases, many individual farmers in the region are either exiting or reducing their seeding rates. China accounted for the major production share in the region, accounting for around 60% of the total regional production in 2022, followed by Japan and India.
• Early in 2022, weather issues, diseases, and increasing feed costs in China and India had a negative impact on the overall growth. Diseases occurring in the region are a combination of consistently occurring issues such as Enterocytozoon hepatopenaeic (EHP) and early mortality syndrome (EMS). These issues lead to a decline in production and an inclination in production costs. To increase shrimp production in India, the Department of Animal Husbandry and Dairying launched a development program for inland fisheries and aquaculture, which helped provide financial aid and quality seeds to increase production quality across the country. The government launched the Pradhan Mantri Matsya Sampada Yojana (PMMSY) for five years, i.e., 2020-2021 to 2024-2025, which aims to enhance shrimp production and achieve an ambitious target of producing 1.4 million metric tons by 2024.
• Shrimp farming in Asian countries grew by 2.68% from 2017 to 2022. Vietnam, one of the major producers, is experiencing flat growth. Vietnam's shrimp production aimed to reach 1 million tons for the first time in 2023. The increase in shrimp production will help Vietnam's shrimp industry maintain its competitiveness with leading exporting countries such as Ecuador, India, Indonesia, Thailand, and China.

Average regional prices are expected to remain stable, with ups and downs happening in major producer nations

• The shrimp prices in the region grew by 0.96% in 2022 from 2021. Shrimp production in Asia was expected to grow marginally in 2023. The prices are unlikely to recover significantly from their current levels. The combination of a global recession and a glut of shrimp in the market led to a decline in prices in the latter half of 2022, broadly in line with what was expected at the end of the first half. Feed costs are expected to improve somewhat as they reach their peak, but not enough to enable the Asian producers to expand.
• In Vietnam, the prices of white leg shrimps from intensive farms slightly increased by USD 0.08 – 1.6/kg in early May 2022. During the same period in the country, white leg shrimps (100 pcs/kg) were sold at USD 4.10 - 4.19/kg. The price of black tiger shrimp ranged between USD 9.73 – 10.16/kg for 20 pcs/kg, up by USD 0.04/kg from 2021, USD 8.00/kg - 8.45/kg for 30 pcs/kg, up by USD 0.21/kg from 2021, and USD 6.91-USD 7.35/kg for 40 pcs/kg.
• Shrimp prices in China grew by 5.77% from 2017 to 2022. In China, the domestic prices of commercial shrimp reached a low point, implying that farmers were no longer interested in stocking up for the wet season, which had become more challenging. Therefore, the low price of commercial shrimp in China can be the basis for a rise in consumption and export. If Vietnam fully implements the export safety certificates for shrimp, the prices of Vietnamese shrimp products will likely increase. The prices of shrimp exported from India, Thailand, and China reflected the advantages of being members of the WTO and the disadvantages of the shrimp diseases in Vietnam, which significantly affected the export prices of Vietnamese shrimp.

Segment Analysis: Form

Frozen Segment in Asia-Pacific Shrimp Market

The frozen shrimp segment dominates the Asia-Pacific shrimp market, holding approximately 59% market share in 2024. This significant market position is driven by the increasing demand from the foodservice industry, which typically purchases frozen shrimp in bulk due to its longer shelf life and storage convenience. The segment's growth is particularly strong in countries like China, where imports increased substantially to meet domestic consumption needs. The development of cold storage infrastructure across the region has further boosted the frozen shrimp segment's dominance. Additionally, improvements in freezing technologies and cold chain logistics have helped maintain product quality during transportation and storage, making frozen shrimp a preferred choice for both commercial and retail consumers.

Processed Segment in Asia-Pacific Shrimp Market

The processed shrimp segment is projected to exhibit the strongest growth in the Asia-Pacific market, with an expected CAGR of approximately 2% during 2024-2029. This growth is primarily driven by technological advancements in seafood processing, which have resulted in more refined products with extended shelf life. Consumer preferences are increasingly shifting toward ready-to-cook and value-added shrimp products, particularly in urban areas where busy lifestyles demand convenient food options. The segment's expansion is further supported by innovations in packaging and processing techniques that help maintain the nutritional content of shrimp products. Manufacturers are focusing on developing new processed shrimp varieties that cater to local taste preferences while ensuring food safety and quality standards.

Remaining Segments in Form Segmentation

The fresh shrimp and canned segments continue to play important roles in the Asia-Pacific shrimp market. The fresh shrimp segment particularly appeals to consumers in coastal regions who prefer traditional seafood consumption patterns and value the authentic taste of fresh shrimp. This segment benefits from the growing network of local fish markets and improved cold chain facilities that enable quick distribution. Meanwhile, the canned shrimp segment serves as a convenient option for long-term storage and is particularly popular in regions with limited access to fresh shrimp. Both segments are seeing innovations in packaging and preservation techniques to enhance product quality and extend shelf life while maintaining the natural flavor and nutritional benefits of shrimp.

Segment Analysis: Distribution Channel

On-Trade Segment in Asia-Pacific Shrimp Market

The on-trade distribution channel dominates the Asia-Pacific shrimp market, commanding approximately 58% market share in 2024. This significant market position is primarily driven by the extensive network of foodservice establishments across the region, particularly in China where the segment holds a dominant position with nearly 58% of the country's shrimp sales. The segment's strength is further reinforced by the increasing frequency of dining out, especially among the younger population, with Gen Z consumers in Singapore showing particularly strong dining-out habits. The expansion of food delivery services has also contributed significantly to on-trade sales, while restaurants' preference for frozen shrimp, which accounts for about 60% of on-trade consumption, ensures consistent supply and quality. Additionally, the segment's growth is supported by the rising number of high-end restaurants and seafood specialty establishments across major Asian cities, catering to the growing demand for premium shrimp dishes.

Online Channel Segment in Asia-Pacific Shrimp Market

The online distribution channel is emerging as the most dynamic segment in the Asia-Pacific shrimp market, projected to grow at approximately 5% annually from 2024 to 2029. This remarkable growth is fueled by the region's high internet penetration rate of around 67%, connecting nearly 2.9 billion people to mobile internet. The segment's expansion is further accelerated by technological advancements in cold chain logistics, ensuring the delivery of fresh shrimp and frozen shrimp in optimal condition. Major online retailers like Licious, FreshToHome Foods, and TenderCuts are continuously expanding their presence across the region, introducing innovative delivery solutions and quality assurance measures. The convenience of digital payments, competitive pricing strategies, and the increasing consumer trust in online seafood purchases are also contributing to this growth trajectory. Moreover, the integration of blockchain technology for traceability and the implementation of sophisticated temperature-controlled delivery systems are enhancing consumer confidence in online shrimp purchases.

Asia-Pacific Shrimp Market Geography Segment Analysis

Shrimp Market in China

China dominates the Asia-Pacific shrimp market, commanding approximately 61% of the total market value in 2024. The country's shrimp market is characterized by a robust combination of domestic production and significant import volumes, particularly focusing on high-quality vannamei shrimp. The market's strength is underpinned by the country's extensive aquaculture infrastructure and sophisticated cold chain logistics network. Chinese consumers show a strong preference for both fresh shrimp and frozen shrimp, with frozen shrimp varieties dominating retail channels due to their longer shelf life and convenience. The foodservice sector, particularly high-end restaurants and hotel chains, continues to be a major driver of shrimp consumption in urban areas. The market is also witnessing a significant shift towards value-added processed shrimp products, catering to the growing demand from young urban professionals seeking convenient yet premium seafood options. The country's e-commerce platforms have revolutionized shrimp distribution, offering consumers unprecedented access to both domestic and imported varieties through sophisticated cold chain delivery systems.

Shrimp Market in Australia

Australia's shrimp market is positioned for robust expansion, projected to grow at approximately 2% CAGR from 2024 to 2029. The market's growth is driven by significant investments in aquaculture technology and sustainable farming practices, particularly in tropical regions suitable for shrimp cultivation. Australian producers are increasingly adopting advanced farming techniques, including recirculating aquaculture systems (RAS) and automated feeding systems, to enhance production efficiency and quality. The country's strict regulatory framework ensures high-quality standards in shrimp production, making Australian shrimp highly regarded in both domestic and international markets. Consumer preferences are evolving towards premium, sustainably sourced shrimp products, with a growing emphasis on traceability and environmental certification. The retail sector is witnessing increased demand for convenient, ready-to-cook shrimp products, particularly among urban consumers. Health-conscious consumers are driving the demand for chemical-free and organically farmed shrimp, leading to innovations in farming practices and processing techniques.

Shrimp Market in Indonesia

Indonesia's shrimp market demonstrates remarkable potential, supported by the country's extensive coastline and favorable aquaculture conditions. The market is characterized by a strong emphasis on sustainable farming practices and technological adoption in shrimp cultivation. Indonesian producers are increasingly implementing modern farming techniques, including biofloc technology and intensive farming systems, to enhance productivity and quality. The domestic market shows a growing preference for frozen shrimp products, particularly in urban areas where modern retail channels are expanding rapidly. The country's shrimp processing sector is experiencing significant modernization, with investments in advanced processing facilities and cold chain infrastructure. Consumer awareness about the nutritional benefits of shrimp is driving domestic consumption, particularly among the growing middle-class population. The market also benefits from strong government support through aquaculture development programs and quality control measures.

Shrimp Market in India

India's shrimp market exhibits strong fundamentals, supported by its extensive coastline and well-established aquaculture infrastructure. The market is characterized by a diverse product portfolio, ranging from traditional fresh shrimp to value-added processed shrimp products. Indian consumers show increasing preference for processed shrimp and ready-to-cook shrimp products, particularly in urban areas where modern retail formats are expanding. The country's processing sector is undergoing significant modernization, with investments in advanced processing technologies and cold chain facilities. The domestic market benefits from strong distribution networks, including both traditional and modern retail channels. Consumer awareness about the health benefits of shrimp consumption is growing, particularly among urban populations. The market is also witnessing increased adoption of sustainable farming practices and quality certification programs, enhancing the overall product quality and market competitiveness.

Shrimp Market in Other Countries

The shrimp market in other Asia-Pacific countries, including Japan, South Korea, Malaysia, and other Southeast Asian nations, exhibits diverse consumption patterns and market dynamics. These markets are characterized by varying levels of domestic production capabilities and import dependencies. Japan's market shows a strong preference for premium quality shrimp products, while South Korea's market is driven by innovative retail formats and strong foodservice sector demand. Malaysia's market benefits from its strategic location and growing aquaculture sector. These markets share common trends such as increasing consumer awareness about sustainable sourcing, growing demand for convenience products, and expanding modern retail channels. The foodservice sector plays a crucial role in shrimp consumption across these countries, particularly in urban areas. Market development is supported by improving cold chain infrastructure and expanding distribution networks, enabling better market access and product availability.

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