Shrimp is one of the most common and popular types of seafood consumed worldwide. Global shrimp market reached a volume of 5.10 million tons in 2019 that is expected to reach 5.83 million tons by 2024, growing at a CAGR of 3.73% during the forecast period (2019-2024). The global market has been witnessing positive growth on account of addition of several value-added products to their product line by manufacturers. These products have been gaining popularity in several importing countries such as the United States, Europe and Japan which has helped in expanding the consumer base. Manufacturers/producers regularly develop innovative products to stay afloat and register growth.

Indian Shrimp industry

India registered shrimp production growth rate of over 30% (804,000 MT) in 2019 as compared to 616,000 MT in 2018. Shrimp exports to different countries show growth of around 9% (667,000 MT). Of the of total shrimp production in the country in 2019, 83% was utilized for exports. US was the largest importer of Indian shrimp accounting for 42% of the total exports followed by China (24%) during 2019. This was followed by EU (11%), Japan (6%) and Vietnam (5%) and others 12% respectively (Fig.1). The trend of Indian shrimp production during the last 10 years is depicted in Fig-2.