The Latest Shrimp Industry Statistics Explained
In 2018, 3.2 million metric tonnes of shrimps were produced worldwide.
The statistic “In 2018, 3.2 million metric tonnes of shrimps were produced worldwide” indicates the total global shrimp production output for the year 2018 as measured in metric tonnes. This figure quantifies the combined weight of all shrimps harvested from aquaculture farms and wild populations across the world in that particular year. The large quantity of 3.2 million metric tonnes underscores the significant scale of the global shrimp industry and its importance in both economic and food security contexts. This statistic is important for tracking trends in shrimp production, consumption, and trade, as well as for informing policy decisions related to sustainable management practices and resource allocation within the seafood sector.
China is the largest producer of shrimps with nearly 1,664,000 tonnes production in 2018.
The statistic stating that China is the largest producer of shrimps with nearly 1,664,000 tonnes of production in 2018 highlights the significant role that China plays in the global shrimp industry. This indicates that China’s shrimp aquaculture and fishing operations are highly developed and efficient, resulting in a large output compared to other countries. The high production volume also suggests that China has the capacity to meet both domestic demand and export requirements, making it a key player in the global seafood market. Additionally, the scale of production underscores China’s importance in shaping the dynamics of the shrimp industry worldwide and its influence on prices, supply chains, and sustainability efforts within the sector.
Global shrimp industry valued at US$ 39.1 Billion in 2020.
The statistic states that the global shrimp industry was valued at US$ 39.1 billion in 2020. This signifies the total market value of shrimp-related products and activities worldwide during that year. This valuation includes all aspects of the industry, such as shrimp farming, processing, and trading, indicating the economic significance of the sector on a global scale. The large monetary value highlights the size and importance of the shrimp industry in terms of production, consumption, and trade, demonstrating the significant role that shrimp plays in the global economy and food supply chain.
The shrimp market is expected to reach US$ 67.5 Billion by 2025.
The statistic indicates that the shrimp market is projected to grow significantly in the future, with an expected value of US$67.5 billion by the year 2025. This growth forecast suggests a substantial increase in the demand and consumption of shrimp globally, likely driven by factors such as population growth, changing consumer preferences, and economic expansion in emerging markets. The statistic serves as a key indicator for stakeholders in the seafood industry, including shrimp farmers, processors, traders, and retailers, highlighting the lucrative opportunities and potential for expansion in the market over the next few years.
In 2020, the US alone imported about $6.5 billion worth of shrimps.
In 2020, the United States imported approximately $6.5 billion worth of shrimp, indicating a significant demand for this seafood product in the country. The statistic suggests that shrimp continues to be a popular choice among American consumers and plays a substantial role in the country’s food market. This high import value reflects the reliance of the US on foreign sources for meeting its shrimp consumption needs and highlights the importance of international trade in enabling access to seafood products. Furthermore, the figure underscores the economic implications of the shrimp industry, both domestically and globally, emphasizing its contribution to the broader food and agricultural sector.
Approximately 55% of the shrimp consumed globally are farmed, not caught in the wild.
This statistic indicates that the majority of shrimp consumed worldwide comes from aquaculture farming rather than being caught in the wild. With approximately 55% of the shrimp supply being farmed, it reflects a significant shift in the shrimp industry towards cultivated production methods to meet consumer demand. This trend towards farmed shrimp can have implications for sustainability, as well-managed shrimp farms can help reduce pressure on wild shrimp populations and promote more controlled and efficient production practices. It also highlights the growing importance of aquaculture in meeting global seafood needs while addressing concerns related to overfishing and environmental impacts on marine ecosystems.
India exported 659 million kilograms of shrimp in 2019.
The statistic that India exported 659 million kilograms of shrimp in 2019 indicates the quantity of shrimp products that were shipped out of the country during that year. This measure provides insight into the scale of India’s shrimp industry and its role in global trade of seafood products. By exporting such a substantial amount of shrimp, India likely holds significant market share in the international seafood industry, contributing to the country’s economy and overall food production capabilities. Analysing trends in shrimp export quantities over time can also offer valuable information about the industry’s growth, market demand, and economic impact both within India and on a global scale.
Vietnam has 700,000 hectares of shrimp farms, with an annual output of around 700,000 tonnes.
The statistic indicates that in Vietnam, there are 700,000 hectares of shrimp farms producing approximately 700,000 tonnes of shrimp annually. This information provides insight into the scale of the shrimp farming industry in Vietnam, highlighting the significant amount of land dedicated to shrimp cultivation and the impressive output in terms of shrimp production. It suggests that Vietnam plays a substantial role in the global shrimp market, likely contributing a significant portion of the total shrimp supply. This statistic underscores the importance of shrimp farming as a key economic activity in Vietnam, supporting livelihoods and contributing to the country’s agricultural sector and export earnings.
By 2024, the global farmed shrimp industry is expected to produce 4.7 million metric tons.
The statistic that by 2024, the global farmed shrimp industry is expected to produce 4.7 million metric tons suggests a significant growth and expansion in shrimp production worldwide over the next few years. This projection indicates that the demand for farmed shrimp is expected to continue increasing, likely driven by factors such as population growth, rising global consumption of seafood, and potential shifts in consumer preferences. The statistic provides valuable insight into the anticipated trajectory of the farmed shrimp industry, serving as a key reference point for stakeholders including producers, investors, policymakers, and researchers to plan and adapt to the evolving dynamics of the seafood market.
In 2018, Ecuador was the biggest shrimp exporter to China with a 40% market share.
The statistic states that in 2018, Ecuador accounted for the largest share of shrimp exports to China, capturing 40% of the market. This indicates that Ecuador was a dominant player in supplying shrimp to the Chinese market compared to other countries exporting shrimp to China. The high market share suggests that Ecuadorian shrimp was in high demand in China, possibly due to factors such as quality, pricing, or trade agreements. This statistic highlights Ecuador’s significant presence and success in the international shrimp trade, particularly in relation to the Chinese market, which is a key player in the global seafood industry.
By 2027, the Asia-Pacific region is projected to dominate the global shrimp market share with a 57.9% value.
The statistic reveals a projection that by the year 2027, the Asia-Pacific region is anticipated to hold a significant market share dominance in the global shrimp market, accounting for 57.9% of the total value. This indicates a substantial shift in the industry’s landscape, suggesting that countries within the Asia-Pacific region are expected to experience significant growth in shrimp production and trade over the next few years. Factors such as favorable climatic conditions, abundant coastal resources, technological advancements, and increasing demand for shrimp products both domestically and internationally may contribute to the region’s increased market share. This statistic underscores the region’s growing importance as a major player in the global shrimp market.
In 2019, the pink shrimp sector contributed over £8 million to the UK’s economy.
The statistic “In 2019, the pink shrimp sector contributed over £8 million to the UK’s economy” indicates that the economic impact of the pink shrimp industry in the UK in that year was significant, with a contribution exceeding £8 million. This figure reflects the total value added by the sector through activities such as shrimp fishing, processing, and distribution. The contribution highlights the sector’s importance in generating income, employment opportunities, and economic growth within the UK. It suggests that the pink shrimp industry plays a role in supporting local economies, providing livelihoods for individuals involved in the sector, and contributing to the overall economic well-being of the country.
References
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7. – https://www.www.fisheries.noaa.gov
8. – https://www.www.seafoodsource.com
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10. – https://www.ourworldindata.org
