Demand and Trends Analysis of Shrimp in Western Europe

Analytical Study of Shrimp in Western Europe from 2023 to 2033

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

• Between 2018 and 2022, the sales of shrimp developed at a 7% compound annual growth rate, and the industry acquired a revenue of USD 7,369.97 million in 2022.
• Favorable climatic conditions and a vast stretch of sea coast ecosystem have provided many Western European countries with sustainable shrimp sources.
• The production of shrimp in Western Europe is anticipated to expand due to the availability of shrimp products and the rising demand for seafood worldwide.

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%

Key Insights - Highlights on the Emerging Opportunities in the Western Europe Shrimp Industry

• Changing dynamics in global trade have reduced the supply of seafood, including shrimp, in the region from Asian and Pacific countries. This, in turn, has created greater opportunities for shrimp producers and suppliers in all Western European countries.
• As eCommerce and online retailing of seafood are rapidly developing in Western European countries, shrimp producers are experiencing a greater chance to expand their consumer base and improve their distribution networks.
• A considerable share of the shrimp business in Western Europe depends on exports to other parts of the world. A wide selection of goods, such as cooked, frozen, peeled, and fresh shrimp products, has popularized this seafood from the region.

Category-wise insights

Whiteleg Shrimps are Ruling the Seafood Trends in Western Europe

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.

Conventional Sources Supply the Bulk of Shrimp in Western Europe

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.

Country-wise Insights

Key Countries in Western Europe	Value CAGR (2023 to 2033)
Germany	8.4%
United Kingdom	10.2%
France	9.3%

Future Prospects for Shrimp Business in Germany Remains Ambiguous

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 Traders in the United Kingdom are in a Favorable Environment

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.

Food Tourism Sector to Drive Shrimp Consumption in France

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.

Competitive Landscape

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

• In May 2022, Royal Greenland of Denmark formed a new partnership with Royal Fresh Fish GmbH to expand its distribution channels in Western European countries. It has manufacturing facilities in Cuxhaven and Neufelder Strasse that are anticipated to boost the sourcing and distribution channels of Royal Greenland. Later, in June 2022, it collaborated with Espersen for the sustained strong expansion of its seafood production in the Koszalin facility.
• In July 2020, Urner Barry Company announced the expansion of its shrimp trading business in Western Europe. Its key focus was on value-added imports from South Asia and Southeast Asia, as well as whole and headless items from Latin America. It now provides imported Vannamei White shrimp and Black Tiger shrimp, along with its existing supply of Coldwater and Red Argentine shrimps.

Some of the Key Players Offering 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)

Scope of the Report

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)

Table of Content

• 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. BMR Groups
  • 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. Nordic Seafood A/S
• 19. Assumptions & Acronyms Used
• 20. Research Methodology