Shrimps and Prawns Market
Shrimps and prawns market: read the latest statistics secured by an Ai-driven business intelligence tool. Statistics include imports, trade, market prices, exports, market size, production, consumption, and companies. Here is a breakdown by region, including Africa, the U.S., the U.K., Latin America, EU, China, the Middle East, and Russia. Market insights and outlook to 2030 are also featured in the dashboards.
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Shrimps and Prawns - World's Largest Markets
Rating | Country |
---|---|
1 | China |
2 | South Korea |
3 | Vietnam |
4 | Portugal |
5 | Japan |
In value terms, China led the market, alone. The second position in the ranking was occupied by South Korea. It was followed by Vietnam.
From 2018 to 2020, the average annual growth rate of value in China stood at +72.3%. In the other countries, the average annual rates were as follows: South Korea (-15.6% per year) and Vietnam (+9.5% per year).
Shrimps And Prawns, Dried, Salted Or In Brine, Smoked Prices
Lowest Prices - FOB - Top Exporters
COUNTRY | 2018 | 2019 | 2020 | CAGR, 2018-2020 |
---|---|---|---|---|
USD per ton | ||||
Myanmar | 4910 | 2957 | 2391 | -30.2% |
Germany | 7004 | 5698 | 4437 | -20.4% |
China | 6495 | 7663 | 7746 | 9.2% |
Thailand | 9748 | 8834 | 10001 | 1.3% |
Vietnam | 5343 | 9220 | 10020 | 36.9% |
Denmark | 8336 | 7275 | 10025 | 9.7% |
Netherlands | 14478 | 12331 | 14786 | 1.1% |
Average | 8800 | 8690 | 8889 | 0.5% |
Prices varied noticeably by the country of origin; the country with the highest price was the Netherlands ($14,786 per ton), while Myanmar ($2,391 per ton) was amongst the lowest.
From 2018 to 2020, the most notable rate of growth in terms of prices was attained by Vietnam, while the other global leaders experienced more modest paces of growth.
Highest Prices - CIF - Top Importers
COUNTRY | 2018 | 2019 | 2020 | CAGR, 2018-2020 |
---|---|---|---|---|
USD per ton | ||||
Belgium | 26467 | 19334 | 23439 | -5.9% |
Sweden | 15171 | 15928 | 13669 | -5.1% |
Japan | 12081 | 11790 | 12786 | 2.9% |
Taiwan (Chinese) | 13248 | 12542 | 11533 | -6.7% |
China | 17701 | 12019 | 11132 | -20.7% |
France | 15601 | 9310 | 9152 | -23.4% |
Portugal | 8285 | 7747 | 7634 | -4.0% |
Netherlands | 6941 | 5189 | 6686 | -1.9% |
Morocco | 5861 | 4450 | 4715 | -10.3% |
Singapore | 3395 | 3867 | 2656 | -11.6% |
South Korea | 4834 | 3313 | 2457 | -28.7% |
Malaysia | 4663 | 3491 | 2425 | -27.9% |
Thailand | 1506 | 1759 | 813 | -26.5% |
Average | 7594 | 6595 | 5386 | -15.8% |
There were significant differences in the average prices amongst the major importing countries. In 2020, the country with the highest price was Belgium ($23,439 per ton), while Thailand ($813 per ton) was amongst the lowest.
From 2018 to 2020, the most notable rate of growth in terms of prices was attained by Japan, while the other global leaders experienced a decline in the import price figures.
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Shrimps and Prawns, Dried, Salted or in Brine, Smoked - Top Importers
COUNTRY | 2018 | 2019 | 2020 | CAGR, 2018-2020 |
---|---|---|---|---|
million USD | ||||
South Korea | 56 | 49 | 34 | -22.0% |
Portugal | 32 | 27 | 25 | -11.3% |
Japan | 28 | 22 | 25 | -6.8% |
Belgium | 32 | 30 | 22 | -16.4% |
Sweden | 27 | 20 | 17 | -20.1% |
In value terms, South Korea ($34M), Portugal ($25M) and Japan ($25M) were the countries with the highest levels of imports in 2020, with a combined 34% share of global imports. These countries were followed by Belgium, Sweden, Taiwan (Chinese), China, Malaysia, the Netherlands, France, Thailand, Morocco and Singapore, which together accounted for a further 45%.
China (+1,221.3% per year) saw the highest growth rate of the value of imports, in terms of the main importing countries over the period under review, while purchases for the other global leaders experienced more modest paces of growth.
Shrimps and Prawns, Dried, Salted or in Brine, Smoked - Top Exporters
COUNTRY | 2018 | 2019 | 2020 | CAGR, 2018-2020 |
---|---|---|---|---|
million USD | ||||
Thailand | 175 | 115 | 66 | -38.6% |
China | 93 | 77 | 60 | -19.5% |
Netherlands | 82 | 59 | 52 | -20.9% |
Vietnam | 16 | 11 | 21 | 14.9% |
Denmark | 18 | 18 | 20 | 4.4% |
In value terms, the largest shrimps and prawns, dried, salted or in brine, smoked supplying countries worldwide were Thailand ($66M), China ($61M) and the Netherlands ($52M), with a combined 62% share of global exports. Vietnam, Denmark, Germany and Myanmar lagged somewhat behind, together accounting for a further 20%.
Myanmar saw the highest growth rate of the value of exports, among the main exporting countries over the period under review, while shipments for the other global leaders experienced more modest paces of growth.
Shrimps and Prawns, Dried, Salted or in Brine, Smoked - Market Forecast
Driven by rising demand for shrimps and prawns, dried, salted or in brine, smoked worldwide, the market is expected to start an upward consumption trend over the next decade. The performance of the market is forecast to increase slightly, with an anticipated CAGR of for the period from 2020 to 2030, which is projected to bring the market volume to by the end of 2030.
Shrimps and Prawns - Product Coverage
- HS 030695 - Crustaceans; shrimps and prawns, smoked, cooked or not, whether in shell or not, whether or not cooked before or during smoking
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This year, the average annual shrimp price is forecast to soar by 7% y-o-y to $15 per kg. High freight rates, the rising cost of marine fuels and boosting global demand for crustaceans remain the key reasons for the price increases. In 2021, the average annual shrimp price ($12.7 per kg) was approximately 10% higher than those of 2020.
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