The shrimp industry in Western Europe is expected to be valued at around USD 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 USD 17,276.34 million by the end of 2033.
Key Trends behind the Surge in Revenues of Shrimp Industry in Western Europe
| Attributes | Details |
|---|---|
| Industry Size of Western Europe in 2023 | USD 7,922.63 million |
| Expected Industry Size of Western Europe by 2033 | USD 17,276.34 million |
| Forecasted CAGR between 2023 to 2033 | 8.1% |
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Among the various edible species of shrimps farmed in Western Europe, whiteleg shrimps are expected to contribute to around 42.5% of total sales.
| Leading Shrimp Species for Sales in Western Europe | Farmed Whiteleg Shrimps |
|---|---|
| Total Value Share (2023) | 42.8% |
The dominance of this segment is typically due to European consumers' inclination toward whiteleg shrimps. However, seasonal variations and changing living conditions of shrimp farmers are causing frequent interruptions in whiteleg shrimp supply chains.
In 2023, over 85% of the shrimp consumed in all Western European countries are likely to be obtained from conventional sources on average.
| Leading Source Type for Shrimp in Western Europe | Conventional |
|---|---|
| Total Value Share (2023) | 85.7% |
The conventional shrimp industry has concentrated in Western Europe as many small-scale producers face difficulties adhering to strict rules and obtaining organic certificates. However, appropriate steps by regional governments to streamline the certification process are anticipated to strengthen the organic shrimp segment in the coming days.
Principal Consultant
| Key Countries in Western Europe | Value CAGR (2023 to 2033) |
|---|---|
| Germany | 8.4% |
| United Kingdom | 10.2% |
| France | 9.3% |
Germany holds a sizable share of the total shrimp produced in Western Europe and it is likely to expand at 8.4% during the projected years.
Germany is known for its inland aquaculture and seafood processing industries, which are expected to retain the dominance of the regional shrimp suppliers to some extent. However, ethical concerns regarding shrimp farming that can have adverse impacts like habitat destruction and water pollution have reduced shrimp sources to a large extent.
Shrimp production in the United Kingdom is poised to advance at a robust 10.2% CAGR over the projected years. Shrimp is very popular in the United Kingdom since it is low in calories and high in vital elements, besides being a good source of protein. To meet changing consumer tastes and convenience-driven demand, shrimp sellers in the country have introduced value-added ready-to-cook or ready-to-eat shrimp product lines.
Though the shrimp industry in France is relatively new, it is projected to rise at an impressive 9.3% CAGR over the next ten years. Shrimp suppliers in France are at the forefront of embracing ethical aquaculture methods, acquiring certifications, and advancing supply chain transparency. Additionally, the growing demand for seafood in restaurants and hotels, coupled with the expansion of the food tourism sector, could boost shrimp production here.
The presence of bigger enterprises supplying shrimp globally, as well as small-scale local producers, has made the Western European shrimp industry fiercely competitive. Maximum companies in Western Europe are among the top providers of shrimp worldwide and are vying for industry dominance in the fiercely competitive industry. Leading suppliers of shrimp in the region are scaling up their business by adopting modern industrial facilities for packaging and value-added processing.
Recent Developments Observed in the Shrimp Industry in Western Europe
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| Attribute | Details |
|---|---|
| Estimated Industry Size in 2023 | USD 7,922.63 million |
| Projected Industry Size by 2033 | USD 17,276.34 million |
| Anticipated CAGR between 2023 to 2033 | 8.1% CAGR |
| Historical Analysis of Demand for Shrimp in Western Europe | 2018 to 2022 |
| Demand Forecast for Shrimp in Western Europe | 2023 to 2033 |
| Report Coverage | Industry Size, Industry Trends, Analysis of key factors influencing the Adoption of Shrimp in Western Europe, Insights on Global Players and their Industry Strategy in Western Europe, Ecosystem Analysis of Local and Regional Western Europe Manufacturers |
| Key Countries Analyzed while Studying Opportunities in Shrimp in Western Europe | Germany, Italy, France, Spain, United Kingdom, BENELUX, Rest of Western Europe |
| Key Companies Profiled in the Analysis of Shrimp in Western Europe | Atlantic Seafoods (United Kingdom); Blue Skies Seafoods (United Kingdom); Direct Seafood (United Kingdom); Frulact (Portugal); Grupo Nueva Pescanova (Spain); Iceland Seafood (Iceland); Royal Greenland (Denmark); Marine Harvest (Norway); Salmco (Norway); Seafood Connections (Netherlands); VAP (Spain) |
The expected CAGR for the industry in Western Europe through 2033 is 8.1%.
Demand for shrimp in Western Europe is estimated to reach USD 17,276.34 million by 2033.
The rising popularity of organic shrimps has impacted the regional sales.
Shrimp suppliers are now emphasizing more on value addition and packaging.
Farmed whiteleg shrimps are set to account for 42.8% of overall industry across Western Europe.
1. Executive Summary 2. Market Overview 3. Market Background 4. Industry Analysis and Outlook 2018 to 2022 and Forecast, 2023 to 2033 5. Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033, By Species 5.1. Gulf Shrimps 5.2. Farmed White Leg Shrimps 5.3. Banded Coral Shrimps 5.4. Royal Red Shrimp 5.5. Giant Tiger Shrimps 5.6. Blue Shrimps 5.7. Ocean Shrimps 6. Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033, By Source 6.1. Organic 6.2. Conventional 7. Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033, By Form 7.1. Canned 7.2. Breaded 7.3. Peeled 7.4. Cooked & Peeled 7.5. Shell-On 7.6. Frozen 8. Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033, By Sales Channel 8.1. Direct 8.2. Indirect 8.2.1. Modern Trade 8.2.2. Convenience Stores 8.2.3. Specialty Food Stores 8.2.4. Wholesale Stores 8.2.5. Online Retail 8.2.6. Other Retail Formats 9. Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033, By Application 9.1. Food 9.2. Pharmaceutical 9.3. Cosmetics 9.4. Industrial 9.5. Biotechnology 10. Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033, By Country 10.1. UK 10.2. Germany 10.3. Italy 10.4. France 10.5. Spain 10.6. Rest of 11. UK Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033, By Region 12. Germany Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033, By Region 13. Italy Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033, By Region 14. France Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033, By Region 15. Spain Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033, By Region 16. Rest of Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033 17. Market Structure Analysis 18. Competition Analysis 18.1. Nordic Seafood A/S 18.2. Heiploeg Group 18.3. Vichiunai-RUS OOO 18.4. Liveris Afentoulis & Co 18.5. Sykes Seafood Ltd 18.6. Aqua Star Corp. 18.7. Avanti Feeds Ltd. 18.8. Devi Fisheries Limited 18.9. Falcon Marine Exports 18.10. BMR Groups 19. Assumptions & Acronyms Used 20. Research Methodology
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Demand and Trends Analysis of Shrimp in Western Europe
