Europe Shrimp Market Outlook
According to the report by Expert Market Research (EMR), the Europe shrimp market size reached a volume of 1,115.3 KMT in 2023. Aided by the rising demand in both fresh and processed segments, the market is projected to further grow at a CAGR of 1.6% between 2024 and 2032 to reach a volume of 1,219.0 KMT by 2032.
Shrimp is a versatile seafood widely consumed across Europe in various cuisines due to its delicate flavour, rich protein content, and health benefits. Its high omega-3 fatty acids and low fat content appeal to health-conscious consumers. It is available in different forms, including fresh, frozen, cooked, peeled, and breaded, making it suitable for diverse consumer preferences and culinary applications.
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Europe shrimp market growth is driven by the rising per capita consumption of seafood in the region. This growth is primarily driven by the increasing demand for competitively priced seafood commodities and the shift of the shrimp processing sector towards high volume and frozen products. Additionally, factors such as the growing population and the flourishing food service sector in the region are also contributing to the market’s expansion. Over the forecast period, the sales of pre-packed and frozen fish products are expected to continue increasing, along with the preference for sustainable certified seafood.
The primary driver for the European shrimp market is the growing awareness of the health benefits of seafood consumption, leading to increased demand for high-protein foods like shrimp. European consumers are becoming more health-conscious, favouring foods that are low in saturated fat and high in essential nutrients. As a result, shrimp has become a preferred seafood choice for many households, consequently driving up the Europe shrimp market share.
Additionally, shrimp’s versatility in culinary applications has expanded its presence in the region’s foodservice sector, particularly in restaurants and fast-casual dining establishments. As consumers seek convenient and flavourful meal options, shrimp has found its way into various dishes, from pasta to salads.
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The market is further propelled by innovations in processing and packaging that have enhanced the quality and shelf life of frozen and pre-cooked shrimp products. These advancements have made shrimp more accessible to consumers, even in areas with limited access to fresh seafood, leading to Europe shrimp market development.
The retail sector, which caters to household consumption, is a significant driver for shrimp sales, with fresh, frozen, and pre-cooked products gaining traction. Supermarkets, hypermarkets, and online platforms increasingly feature shrimp prominently in their seafood sections, offering products in diverse preparations.
In the foodservice sector, shrimp is a popular ingredient due to its adaptability to a wide range of dishes. Restaurants, hotels, and catering services use shrimp in appetizers, main courses, and buffets. Pre-cooked and ready-to-eat shrimp products are particularly favoured in fast-casual dining.
Additionally, processed shrimp, such as peeled, deveined, and breaded varieties, has seen increased demand. These value-added products cater to consumers seeking convenient meal options that can be quickly prepared at home, leading to Europe shrimp market expansion.
Western European countries like Spain, France, and Italy have historically led shrimp consumption due to their culinary traditions and proximity to seafood markets. Spain remains a dominant market due to its strong seafood culture and high per capita consumption.
As per the Europe shrimp market analysis, in Northern Europe, countries like the United Kingdom, Germany, and the Netherlands are seeing increasing demand due to rising consumer health consciousness and the expanding availability of shrimp in retail and foodservice sectors. Germany’s large population and evolving food preferences present substantial growth opportunities. Eastern Europe, encompassing Russia and Poland, represents an emerging market segment where rising incomes and a growing taste for Western cuisines are driving shrimp consumption.
Europe Shrimp Market Segmentation
The market can be divided based on the environment, species, product type, distribution channel, source, and country.
Market Breakup by Environment
- Wild
- Farmed
Market Breakup by Species
- Penaeus Vannamei
- Penaeus Monodon
- Macrobrachium Rosenbergii
- Others
Market Breakup by Product Type
- Peeled
- Shell-On
- Cooked
- Breaded
- Others
Market Breakup by Distribution Channel
- Hypermarkets and Supermarkets
- Convenience Stores
- Hotels and Restaurants
- Online
- Others
Market Breakup by Source
- Domestic Production
- Imports
Market Breakup by Country
- United Kingdom
- Germany
- France
- Italy
- Netherland
- Spain
Competitive Landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in Europe shrimp market. Some of the major players explored in the report by Expert Market Research are as follows:
- Nordic Seafood A/S
- Heiploeg International B.V.
- Viciunai Group
- Afentoulis Liveris & Co. O.E.
- Sykes Seafoods Ltd.
- Seamark plc
- Morubel NV
- Others
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