The shrimp industry in Western Europe is expected to be valued at around US$ 7,922.63 million in 2023. Including domestic sales, the overall shrimp business in the region is forecasted to advance at an impressive 8.1% CAGR between 2023 and 2033. Our forecast report further predicts that the sales of shrimp in Western Europe could reach US$ 17,276.34 million by the end of 2033.
Recent shifts in global trade dynamics have impacted the supply of seafood from Asia and the Pacific, creating opportunities for local shrimp producers and suppliers. Additionally, the rapid growth of eCommerce and online retailing is expanding market access for shrimp producers, enhancing their distribution networks.
A significant portion of the shrimp business in Western Europe is reliant on exports, with diverse offerings including cooked, frozen, peeled, and fresh shrimp products.
Category Insights:
- Whiteleg Shrimps dominate the market, projected to account for 42.8% of total sales in 2023. This popularity stems from consumer preference for this species, although supply chains face challenges due to seasonal variations and farming conditions.
- Over 85% of shrimp consumed in Western Europe is expected to be sourced from conventional methods, with ongoing improvements in certification processes anticipated to strengthen the organic shrimp segment.
Country-Wise Insights
Germany: Anticipated to grow at 8.4% CAGR due to its inland aquaculture and seafood processing industries. Ethical concerns regarding farming practices have, however, cast uncertainty on future supply.
United Kingdom: Expected to lead with a 10.2% CAGR, bolstered by a consumer trend towards healthy, protein-rich foods. The market has seen the introduction of value-added products catering to convenience-driven consumers.
France: While relatively new in the shrimp industry, growth is forecasted at 9.3% CAGR. The rise in food tourism and an increasing demand for ethical sourcing are driving factors for this growth.
Competitive Landscape
The shrimp industry in Western Europe is characterized by a blend of large global enterprises and local small-scale producers, creating a competitive marketplace. Major suppliers are adopting advanced industrial facilities for packaging and value-added processing to maintain their market position.
Recent Developments
- In May 2022, Royal Greenland formed a partnership with Royal Fresh Fish GmbH to enhance distribution networks across Western Europe, leveraging its manufacturing capabilities.
- Urner Barry Company expanded its shrimp trading operations, focusing on value-added imports from South Asia and Southeast Asia, while offering a variety of shrimp products from Latin America.
Key Segments Covered in Western Europe Shrimp Industry Survey
By Species Type:
- Gulf Shrimps
- Farmed Whiteleg Shrimps
- Banded Coral Shrimps
- Royal Red Shrimp
- Giant Tiger Shrimps
- Blue Shrimps
- Ocean Shrimps
By Source Type:
- Organic Sources
- Conventional Sources
By Form Type:
- Canned
- Breaded
- Peeled
- Cooked & Peeled
- Shell-on
- Frozen
By Sales Channel Type:
- Direct Sales Channel
- Indirect Sales Channel
- Modern Trade
- Convenience Store
- Specialty Store
- E-retailers
- Other Retail Formats
By Application Type:
- Food Sector
- Pharmaceutical Industries
- Cosmetics Production
- Industrial Applications
- Biotechnology Research
- Other Applications
By Country:
- Germany
- Italy
- France
- Spain
- United Kingdom
- BENELUX
- Rest of Western Europe
Browse full Report: https://www.futuremarketinsights.com/reports/demand-and-trends-analysis-of-shrimp-in-western-europe
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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