Shrimp Feed Market Overview
Global Shrimp Feed Market reached US$ 7,258.38 million in 2024 and is expected to reach US$ 11,246.12 million by 2032 growing with a CAGR of 5.7% during the forecast period 2025-2032. Shrimp feed refers to a food formulation prepared to meet the nutritional requirements of the farmed shrimp, which include vitamins, minerals, amino acids, and fatty acids.
It consists of high-water stability, optimum feed conversion ratio (FCR), and feed palatability, and offers enhanced disease resistance and yield. It helps in improving shrimp production and increasing profits. In addition, it facilitates maximum nutrient retention in the shrimp, which are used in various pharmaceutical supplements.
The global demand for shrimp has been increasing steadily due to factors such as rising consumer disposable income, changing dietary preferences, and the growing popularity of seafood. This has led to an increased need for quality shrimp feed to support shrimp farming.
Shrimp Feed Market Scope
| Metrics | Details |
| CAGR | 5.2% |
| Size Available for Years | 2021-2030 |
| Forecast Period | 2023-2030 |
| Data Availability | Value (US$) |
| Segments Covered | Type, Additives, Ingredients, and Region |
| Regions Covered | North America, Europe, Asia-Pacific, South America, and Middle East & Africa |
| Fastest Growing Region | North America |
| Largest Region | Asia Pacific |
| Report Insights Covered | Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and Acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, Porter’s Analysis, Pricing Analysis, Regulatory Analysis, Supply-Chain Analysis, and Other key Insights. |
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Shrimp Feed Market Dynamics
Increasing Global Shrimp Consumption is Driving the Shrimp Feed Market Growth
Shrimp is one of the most broadly consumed seafood products globally, and its popularity has been gradually increasing. According to the Food and Agriculture Organization (FAO), global trade of shrimp and prawns is estimated at USD 28 billion per year, coming mostly from farms in Asia and Latin America (mainly Ecuador) producing Penaeus vannamei.
Shrimp is traded internationally and has become an international commodity, with enormous imports and exports. Major shrimp-consuming nations include the USA, China, Japan, and various European nations. The increase of shrimp intake in these nations contributes to the general international demand for shrimp and subsequently drives the demand for shrimp feed.
Expansion of Shrimp Aquaculture Industry is Expected to Drive The Shrimp Feed Market Growth
Aquaculture has been rapidly expanding to meet the increasing global demand for seafood. Shrimp farming is a significant sector within the aquaculture industry. According to IntraFish, global shrimp production is expected to be up 4 percent to 5.6 million metric tons, following an 11.5 percent increase in 2021.
Shrimp farming has grown in scale and production capacity in many countries. According to a journal published by Frontiers, the area under aquaculture grew more than 1100% in 28 years, and more than 114,683 ha of the different ecosystems were converted into shrimp ponds by 2021. The expansion of shrimp farms and the increasing number of shrimp farming operations contribute to the demand for shrimp feed.
Fluctuating Feed Ingredient Prices of Shrimp Feed is Restraining the Shrimp Feed Market
Fishmeal and fish oil are key ingredients in shrimp feed formulations. These ingredients are derived from marine sources and are commonly used to provide essential nutrients to shrimp. However, the prices of fishmeal and fish oil are subject to volatility due to various factors such as global fish stocks, fish catch volumes, and weather conditions affecting fishing activities.
Fluctuations in fishmeal and fish oil prices directly impact the production costs of shrimp feed manufacturers. When ingredient prices increase, it becomes more expensive for manufacturers to produce shrimp feed, and these increased costs are often passed on to shrimp farmers. Higher feed costs can affect the profitability of shrimp farming operations, especially in periods of sustained price increases.
Shrimp Feed Market Segment Analysis
The global shrimp feed market is segmented based on type, ingredients, additives, and region.
Vitamins and Proteins Segment Held the Largest Market Share in the Shrimp Feed Market
Vitamins and proteins are crucial components of shrimp feed formulations. They play a vital role in supporting the growth, development, and overall health of shrimp. Proteins provide essential amino acids necessary for muscle development, reproduction, and immune function, while vitamins are involved in various physiological processes and metabolic functions.
Shrimp have high protein requirements compared to other nutrients. Proteins are necessary for tissue growth, enzyme production, and energy metabolism. Shrimp feed formulations typically contain protein sources such as fishmeal, soybean meal, and other plant-based proteins to meet the nutritional needs of shrimp.
Shrimp Feed Market Geographical Share
Asia Pacific is Dominating the Shrimp Feed Market
Asia Pacific is known for its significant shrimp production. Nations like China, India, Indonesia, Thailand, and Vietnam are among the top shrimp-producing nations globally. According to the Food and Agriculture Organization (FAO), Asia accounted for the majority of global shrimp production, with China being the largest producer, followed by Indonesia and India. According to OECD, the total aquaculture productionin 2022 in India was 8,641,286 tonnes.
Asia Pacific has a well-developed and robust aquaculture industry, with a specific focus on shrimp farming. Shrimp farming is deeply rooted in the region's agricultural practices, and farmers have gained extensive knowledge and experience in shrimp production. The strong infrastructure, technical expertise, and support systems in place further contribute to the dominance of Asia Pacific in the shrimp feed market.
Shrimp Feed Companies and Competitive Landscape
The major global players in the market include Growel Feeds Pvt., DuPont, ADM, BioMar Group A/S, Cargill, Incorporated, Nutreco, Novozymes AS, Charoen Pokphand Foods PCL, Evonik Industries AG, and Avanti Feeds Ltd.
COVID-19 Impact on Shrimp Feed Market
Covid-19 Impact
The pandemic and related lockdown measures have caused disruptions in global supply chains, including the production and distribution of shrimp feed. Restrictions on transportation, labor shortages, and logistical challenges have affected the availability and timely delivery of feed ingredients, potentially impacting the production of shrimp feed. The pandemic has caused fluctuations in global shrimp demand and market volatility. Restrictions on travel, closure of restaurants, and shifts in consumer behavior have affected the demand for shrimp products. This fluctuating demand can impact the overall shrimp farming industry, including the demand for shrimp feed.
By Type
- Grower
- Finisher
- Starter
By Ingredient
- Soybean Meal
- Fish Meal
- Wheat Flour
- Fish Oil
- Others
By Additives
- Vitamins and Proteins
- Fatty Acids
- Antioxidants
- Feed Enzymes
- Antibiotics
- Others
By Region
- North America
- The U.S.
- Canada
- Mexico
- Europe
- Germany
- The U.K.
- France
- Italy
- Spain
- Rest of Europe
- South America
- Brazil
- Argentina
- Rest of South America
- Asia-Pacific
- China
- India
- Japan
- Australia
- Rest of Asia-Pacific
- Middle East and Africa
Key Developments
- In May 2023, CPM, which manufactures feed mills, pelleting equipment, and automation products, has acquired Taiwan-based IDAH the world’s largest manufacturer of shrimp feed making machines.
- In October 2021, Nestle company is planning to launch plant-based substitutes for egg and shrimp that would closely mirror the taste, nutrition and performance of the originals, the company said, thereby extending its range in the fast growing vegan market.
- In April 2023, Innovad to acquire Swiss-based Herbonis and its affiliates. The acquisition aims to strengthen Innovad’s portfolio of natural specialty feed ingredients and align with its strategy of expanding into primary ingredients.
Why Purchase the Report?
- To visualize the global shrimp feed market segmentation based on type, ingredients, additives, and region, as well as understand key commercial assets and players.
- Identify commercial opportunities in the market by analyzing trends and co-development.
- Excel data sheet with numerous data points of shrimp feed market-level with all segments.
- The PDF report consists of cogently put-together market analysis after exhaustive qualitative interviews and in-depth market study.
- Product mapping is available as Excel consists of key products of all the major market players.
The global shrimp feed market report would provide approximately 61 tables, 60 figures, and 190 Pages.
Target Audience 2023
- Manufacturers/ Buyers
- Industry Investors/Investment Bankers
- Research Professionals
- Emerging Companies
