Growth Opportunity Assessment – Organic Shrimp Market

Market Introduction:

Organic Shrimps are farmed naturally and make use of chemical-free feeding and processing methods (no antibiotics). Most shrimp are sold frozen and marketed based on their presentation, grading, color, and uniformity. Shrimps have high omega-3 fatty acids, calcium, iodine, and protein but low in food energy. Shrimp consumption is considered healthy for the circulatory system.

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In many parts of the world, seafood is a staple food. It is consumed by a large part of the population living near the seashore. This has resulted in a strong base for shrimp consumption as a huge widespread population is dependent on the daily intake of protein from seafood.

Market Segmentation:

Organic Shrimp market can be segmented on the basis of source, type, processing type, end-use, packaging, distribution channel, and region.

On the basis of source, Organic Shrimp market can be segmented into warm water organic shrimp and cold water organic shrimp.

On the basis of type, Organic Shrimp market can be segmented into raw, cooked, tail on, tail off, peeled, shelled on, deveined and undeveined.

On the basis of processing type, Organic Shrimp market can be segmented into natural, frozen, marinated, canned and battered.

On the basis of end-use, Organic Shrimp market can be segmented into the industrial application, Food service/ HoReCa, and household application.

On the basis of packaging, Organic Shrimp market can be segmented into bags, boxes, standing pack, chain pack and skin pack.

On the basis of the distribution channel, Organic Shrimp market can be segmented into direct and retail sales. Direct sales refer to direct selling of corn as an ingredient to other industries. Retail sales are further segmented into modern trade, convenience stores, online retailers, and other retailing formats.

Drivers, Restraints, and Trends:

The demand for organic and sustainable seafood is increasing due to awareness among consumers as well as standards are rising in all the sectors – with retailers, restaurants and hotel chains. They are making aggressive commitments to ensure their seafood comes from stable and responsible sources. The key drivers include the working class and the growing urbanization of people, adhering with safe and nutritious seafood consumption and rising consumption of processed organic seafood products including salads and snacks. Increasing demand for shrimps over other seafood due to high nutritional content, a traditional food among Europeans and its availability at cheaper prices is expected to drive the market in the projected period.

Lack of planning and support from the government in production for organic shrimp regarding the environmental permits and difficulties being faced by the producers are some of the factors expected to prohibit the growth of organic shrimp market in near future.

However, the rising health awareness among consumers for consumption of protein-based products rather than calorie based products is the growing trend as well as organically grown products like organic shrimp with clean labeling certifications, is being widely accepted due to a responsible commitment in its source of production and processing methods. Advancement in organic shrimp farming is expected to grow the market for organic shrimp in the projected period.

Regional Outlook:

In North America and Europe, growing penetration for organic products, manufacturers are also optimistic about the growing demand for organic sea foods in the regions. For instance, producers like Organic Shrimp Farming Co. Ltd., Anova Seafood BV, and others are producing organic shrimp and processing products to meet the rising consumer demands for organic seafood products. The North America, the EU, and Japan being the consumers since traditional times are still looking out for protein-based products, organic shrimps in particular, with availability in frozen form as well as in processed forms too. Top importers for organic shrimp and its products are U.S., Japan, France, Spain, U.K., Germany, Belgium, Italy, Canada Denmark and others. Hence, rising consumption for organic food products & health awareness among their minds is expected to fuel the demand in the coming years.

The market is expanding globally thus the producers are exporting the shrimp and it’s based products from Thailand, China, India, Ecuador, and Indonesia. Changing eating habits due to acclimation of westernized diet among Asia Pacific consumers is expected to affect the consumption of seafood products in this region. As a result, increasing consumption of western diet among consumers is shifting their preference from seafood products towards other food products such as beef, poultry, and others.

From past one decade, the Brazilian shrimp sector was at its stagnated position, earlier being the country was leading exporter of shrimps in Latin America region. Factors such as shrimp diseases, poor quality of shrimps, floods, and droughts were some unfavorable factors decimated the growth of shrimp market in the region. But in the recent years, improvement in shrimp farming technology and increasing domestic demand for shrimp products in Brazil is driving the demand for the products in the seafood market.

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In Latin America region shrimp industry is back on the growth track and is expected to trace the fastest pace in the upcoming years, factors such as increasing production of shrimps from inland farming, areas that use fresh water and focus towards use of certified organic shrimp production in Brazil and Mexico is contributing towards future growth of shrimps over the forecast period.

Key Players:

Some of the prominent players of Organic Shrimp are Organic Shrimp Farming Co. Ltd., Anova Seafood BV, Ristic GmbH, DOM Intentional, Omarsa S.A., OSO, MSeafood Corp., Artisan Fish LLC and various other regional manufacturers.

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Ganesh Rajput

As one of the lead news writers on CMFE News, Ganesh’s specialization lies in the science and technology domains. His passion for the latest developments in cloud technology, connected devices, nanotechnology, and virtual reality, among others, shines through in the most recent industry coverage he provides. Ganesh’s take on the impact of digital technologies across the science, technology, and business domains gives his writing a fresh and modern outlook.

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