Summary

Since 2020, the global shrimp market, estimated at $68.40 billion in 2022, has demonstrated resilient growth with an expected CAGR of 5.5 percent through 2030. Driven by increased health awareness and demand for high-protein, low-fat diets rich in essential nutrients like Omega-3, global shrimp consumption reflects this trend. The European Union faced a downturn in seafood volumes and values, with domestic decreases as high as -16.7% and -10.8% respectively. Market dynamics were affected by the COVID-19 pandemic, causing an immediate drop in demand, but demand rebounded quickly after the initial shocks. Ecuador emerged as a leading shrimp exporter in 2023, experiencing a 30 percent growth over 2022, whereas countries like Vietnam and Indonesia saw declines.

The Shrimp Market in Italy: A Dynamic Landscape of Consumption and Trade

The Italian shrimp market has been a fascinating case study of evolving consumer habits and expanding trade dynamics. Throughout the years, Italians have demonstrated a growing appetite for shrimp, prompted by its acknowledged health benefits and versatility as a dietary component. We witness a significant increase in the average yearly household expenditure on seafood overall, with an upward shift of approximately 12.9 percent from 2017 to 2021. Shrimp, considered a luxurious seafood option, holds a compelling 20 percent in value within the national fish market landscape. The demand for shrimp in Italy tells a story of distinctive regional preferences, with households in the southern part of the country leading the way by spending roughly between 45 to 50 euros per month. Following closely are those in the Islands and Central regions, with monthly expenditures in the range of 40 to 45 euros, showcasing a strong regional inclination towards this marine delight.
Prices for shrimp have seen variances based on the origin and type, maintaining an upscale positioning, particularly for fresh-caught varieties such as the Red shrimp fetching between 45 to 50 euros per kilo and the Pink shrimp priced at the higher end during peak season.

Key Market Players Shaping the Italian Shrimp Sector

The Italian shrimp industry is a vibrant and complex market comprising various stakeholders, from fishermen and farmers to processors and retailers. The market dynamics are greatly influenced by the activities of these crucial industry participants, who contribute to the supply chain of the cherished crustacean.

Traditional Fisheries and Aquaculture Farms: At the forefront of the market are the traditional fisheries that dot the Mediterranean coast, harvesting indigenous species like red shrimp, purple shrimp, and white shrimp. These fisheries rely on the seasoned expertise of local fishermen who have honed their craft over generations, ensuring that they provide consumers with fresh and high-quality products. In the realm of shrimp farming, Veneto and Emilia-Romagna regions emerge as significant contributors, especially in trout farming. Southern parts of Italy are witnessing growth in sea cage farms, which are gradually contributing more to the shrimp supply to meet the rising demand.
Crustacean Processing Enterprises: Another critical component of this market is the number of enterprises engaged in the processing and preservation of crustaceans. Although these businesses aren't necessarily dedicated exclusively to shrimp processing, given the high dependency on imports, their role in ensuring that processed shrimp meets quality standards is indispensable.
Importers and Exporters: Considering the prevalent reliance on importation to satisfy domestic demand, companies specializing in the import of shrimps play a critical role. These players ensure a continuous flow of shrimp from countries like Ecuador and Argentina, leading seafood suppliers for Italy. Simultaneously, exporters manage to carve a niche, supplying Italian shrimp delicacies to countries like Spain, Albania, Malta, France, and Germany.

the shrimp market - Italy

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Number of pages : 30 pages
Format : Digital and PDF versions
Last update : 31/10/2023

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Summary and extracts

1 Market Overview

1.1 Definition and scope of the study

The term "shrimp" tends to identify a rather heterogeneous group of decapod crustaceans, differing in both taxonomic characteristics and purpose; in fact, there are both freshwater and saltwater species, belonging to various orders and classifications. The shrimp market ("shrimp" in English, "gambero" in Italian) consists of small shrimp, up to 7-10 cm, and prawns over 15 cm ("prawn" in English, "gamberone" in Italian). There are mainly three species in the Mediterranean Sea: the red shrimp, the purple shrimp, and the prawn. These are certainly the most economically important species. The most widespread and fished species is the white shrimp.

For the purpose of this study, we focus on the production and marketing of the following Italian shrimp species:

White shrimp
Purple shrimp
Red shrimp
Shrimp

Global shrimp catches have increased significantly over the past decade, both due to the spread of a massive and efficient "insutrial" fishery and the prosperity of this market segment. In addition to fishing, shrimp farming has also increased; this practice, which has existed since ancient times, occupies a large part of the sector and is now widely practiced in Central America, South America and Southeast Asia. The global shrimp market size has been estimated at $68.4 billion in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 5.5 percent until 2030.

In Italy, shrimp consumption grew by 25.2 percent in January-April 2022, compared to the same period in 2021. From a price point of view, shrimp caught in the Mediterranean are valuable fish products and highly sought after by consumers; for these reasons they can be very expensive, up to €50 to €60 per kg for red shrimp and €60 per kg for purple shrimp. Shrimp consumption is, moreover, strongly influenced by the spread of a search for healty diets; in fact, the product in question is considered a low-fat, high-protein alternative, which is why it is a product in high demand by consumers. Shrimp, moreover, is a front of essential nutrients, such asOmega-3.

2 Demand analysis

3 Market structure

4 Supply analysis

5 Regulations

6 Positioning of players

List of charts

Trends in world shrimp production
Trends in world shrimp production by production method
Trends in the size of the shrimp market
[Copy] Evolution of the revenues of the shrimp market
Evolution de la quantité de crevettes produites
Répartition des revenus générés par les crustacés, par type
Répartition de la production de crustacés par type
Trends in industrial production: fish and seafood processing
Average annual household expenditure on fresh, frozen, dried smoked or salted seafood
Average monthly household expenditure on fish other seafood, breakdown by employment status
People aged 3 years and older who consume a fish meal at least a few times a week
[Copy] Main export destinations of shrimps
[Copy] Main countries of origin, imports
Evolution des importations et exportations de crevettes
Nutritional value per 10g of shrimp
Répartition de la consommation intérieure de crustacés, par espèce
Indice de pénétration de différents types de crevettes, par classes socio-économiques
Ventes de produits de la pêche et de l'aquaculture par filière

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Companies quoted in this study

This study contains a complete overview of the companies in the market, with the latest figures and news for each company. :

Iliopesca

GIÓ MARE S.P.A.

Rosso di Mazara

Alemar

FIORITAL GELO

DINAQUA

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