Global Prawn Market Overview 2018, Demand by Regions, Share, Price Trends, and Forecast to 2023
The global prawn market has experienced a positive growth over the years, owing to the increasing consumption of various processed prawn products, such as peeled prawn, shell-on prawn, cooked prawn, and breaded prawn.
The latest report by IMARC Group, titled “Prawn Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2018-2023”, finds that the global prawn market reached a volume of 5 Million Tons in 2017. Prawns are shrimp-like aquatic crustaceans with ten legs and an exoskeleton. People residing near seashore often consume prawns as they offer numerous health benefits. They are an excellent source of high quality protein and also provide minerals and vitamins in an extremely diverse set of healthy and tasty meals. Prawns are extremely low in calories and help the body to build muscles, produce energy and replenish red blood cells. On account of this, they form an important part of various cuisines and represent one of the most traded seafood species.
Want more information about this market? Request a free report sample
Highlights of the global prawn market:
- Consumer’s demand for fresh and frozen seafood is anticipated to be the major demand driver.
- Peeled prawn is the most popular product type, holding the majority of the total market share.
- China accounts for the majority of the global share, representing the largest producer of prawns.
The surging consumption for fresh and frozen seafood products is one of the major factors that is fueling the demand for prawns worldwide. Additionally, prawns offer an ideal combination of fats and proteins which makes them very beneficial for the human health. This has led to a shift in the food habits of the consumers across the globe towards the consumption of healthier seafood products, thereby boosting the global prawn market. Some of the other factors contributing to the market growth include easy availability of prawns, launch of new ready-to-eat product variants with improved taste and versatility, rising purchasing power of the consumers, rapid urbanization, growth in the aquaculture activities, and improved cold storage facilities, particularly in the emerging regions. According to the report, the global prawn market is further expected to reach a volume of 6 Million Tons by 2023, exhibiting a CAGR of more than 3.8% during 2018-2023.
On the basis of species, the market is segmented into Penaeus vannamei, Penaeus monodon and others. Currently, Penaeus vannamei is the most popular species, holding the majority of the total market share. Based on the type of processed prawn products, the market includes peeled prawn, shell-on prawn, cooked prawn and breaded prawn, wherein peeled prawn dominates the market. Region-wise, China represents the leading market, accounting for the largest share. Other major regions include Indonesia, Vietnam, India, Thailand and Ecuador.
The report by IMARC Group has examined the global prawn market on the basis of:
Species:
- Penaeus vannamei
- Penaeus monodon
- Others
Type:
- Peeled prawn
- Shell-on prawn
- Cooked prawn
- Breaded prawn
Region:
- China
- Indonesia
- Vietnam
- India
- Thailand
- Ecuador
Browse related reports:
Shrimp Market Research Report 2018-2023
Indian Shrimp Market Research Report 2018-2023
About Us
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
Contact Us
IMARC Group
USA: +1-631-791-1145
Email: sales@imarcgroup.com
Website: https://www.imarcgroup.com
Follow us on twitter : @imarcglobal
