The shrimp market - Portugal

The global shrimp market has experienced substantial growth, with a 65% increase in production between 2009 and 2020, reaching 10,402 thousand tonnes in that year, where aquaculture accounts for 65% of the total production. China, India, and the USA are the leading producers and consumers, with Asia contributing around 80% to aquaculture production. Portugal, with its high per capita seafood consumption, is a significant player in the EU market, ranked 8th in fisheries production and 14th in aquaculture within the EU. Even though Portugal's own shrimp production is on a decline, the country's demand for shrimp continues to rise, with an expectation that it will become the world's 14th largest shrimp importer by 2026. In 2021, Portuguese shrimp exports reached around 9.4 million kilograms, while imports were almost 30 million kilograms, reflecting the country's increasing reliance on imported shrimp. The shrimp market size in Portugal for 2022 is estimated to be between 262.5 and 339.3 million euros. Prices have remained fairly stable over the last decade, with geographical variances, including higher prices in Madeira and the Azores compared to mainland Portugal. The Portuguese market has turned to foreign suppliers, which is displayed in the rise in value of shrimp landings at Portuguese ports, hitting 12,835 million euros in 2021. The preference for wild-caught produce over farmed shrimp, and the seafood processing and preserving industry, are expected to grow, coinciding with the rising trend in retail sales projected until 2025.. Portugal's Market Analysis: An In-Depth Look at Shrimp Consumption Trends The fish distribution market in Portugal is a significant industry, with an emphasis on the sale and consumption of seafood products. It is currently experiencing a notable surge in demand for fish consumption, driven by increased production and improved distribution channels. One of the stand-out figures in this market is Portugal's strong preference for seafood. The nation ranks among the highest in the world for per capita seafood consumption, trailing just behind global leaders such as Norway and South Korea. The Portuguese have a particular palate for a wide variety of species, with cod being a staple in their diet despite its absence in local waters. This has led to an interesting market dynamic where cod accounts for roughly over a third of the national seafood demand. On the shrimp front, Portugal's market is evolving. While the country used to focus more on exports, recent years have witnessed a trend towards increased shrimp imports. This shift is due, in part, to a dynamic global shrimp industry, which has seen aquaculture take the lead over traditional fishing methods. Countries like China, India, and the USA are at the forefront of both shrimp production and consumption. In Europe, Asia dominates aquaculture production, contributing to around 80%. Portugal's shrimp market is shaping up accordingly. As the country is importing more shrimp, it has now been tagged as the world's 14th largest shrimp importer. On the other hand, shrimp exports from Portugal, primarily to partners like Angola, Spain, Luxembourg, and France, remain considerable but are facing competition from countries like Belgium, China, Spain, and Japan. Consumer trends in Portugal show a distinct preference for purchasing seafood from supermarkets/grocers or fishmongers. Health benefits are a significant driver of the shrimp market, as more consumers become aware of the nutritional value shrimps bring, such as their high protein, vitamin, and mineral content. The Portuguese are also more particular about the product's appearance, cost, and origin when making purchasing decisions. The shrimp market in Portugal has also aligned with the European preference for wild-caught over farmed products. Although this inclination varies across the continent, in Portugal, nearly half of the seafood consumers show a higher preference for wild products. This preference plays into the demand for shrimp in Portugal, as evidenced by the EUMOFA reporting on European consumption trends, where shrimp consumption sways in relation to supplies from countries with predominant shrimp industries. The production and retailing of seafood products in Portugal are anticipated to keep growing, riding.### Key Players Shaping the Portuguese Shrimp Market Landscape Portugal, a country with deep-seated culinary traditions tied to seafood, hosts a dynamic shrimp market that features a variety of businesses, each playing a significant role in the distribution and sale of this cherished crustacean. The market structure reveals key establishments, ranging from specialized wholesalers to large supermarkets and local fishmongers, all contributing to the bustling fish distribution ecosystem. #### Wholesalers at the Core of Supply At the heart of the market's supply chain are wholesalers, which are instrumental in bridging the gap between shrimp producers and retailers. **Congelados Moreira**, a prominent name in the industry, is one such player that specializes in the wholesale of frozen seafood. They supply a variety of shrimp and other fish products, catering to the demands of retailers across the country. Their extensive distribution network ensures that shrimp and seafood products arrive from the docks to the dinner tables. Another major entity in the wholesaling segment is **Pescanova**, a multinational seafood company that has etched its mark not just in Portugal but also on the global seafood stage. With a diversified portfolio that includes different shrimp species, from the popular warm-water varieties to the more exclusive cold-water selections, Pescanova is known for its commitment to quality and sustainable practices. #### Supermarkets Serving the Masses The retail sphere is dominated by supermarket chains that have made seafood, including shrimp, readily accessible to the general public. **Pingo Doce** stands out as a leader in the Portuguese supermarket space. Their seafood counters are stocked with an assortment of shrimp products, meeting the needs of their widespread customer base. Through their significant footprint, Pingo Doce ensures that shrimp is available across the country, even in landlocked regions. Similarly, **Continente** is a supermarket giant that has played a crucial role in shaping consumer habits regarding shrimp consumption. Known for their competitive pricing and quality assurance, they have become a go-to destination for customers seeking both variety and value when it comes to purchasing shrimp. #### Fishmongers and Fishers Holding Traditional Values Local fishmongers, although not cited with specific examples, represent the traditional facet of the market. They are the custodians of quality and freshness, often developing personal relationships with their customers. Fishmongers provide a more personalized shopping experience and are advocates for locally caught seafood, including shrimp. Concurrently, local fishers are the silent heroes who navigate the waters to bring in the day's catch. Their dedication and labor are fundamental to maintaining a consistent supply

Inforamtion

• Number of pages : 30 pages
• Format : Digital and PDF versions
• Last update : 25/08/2023

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Summary and extracts

List of charts

• Trends in the size of the shrimp market
• Trends in shrimp fishing and production
• Share of global shrimp production
• Main shrimp-producing countries (aquaculture)
• Main shrimp-producing countries (fishing)
• Estimating the size of the Portuguese shrimp market
• Import, Export and Coverage of Crustaceans, whether or not shelled, live, fresh, chilled, frozen, dried, salted or in brine
• Main import and export partners for fishery and aquaculture products
• Main shellfish export destinations
• Main sources of shellfish imports
• Seafood consumption
• Per capita expenditure on fish and aquaculture in the European Union (EU-27) in 2021, by country
• Purchasing criteria for fish and aquaculture products
• Nutritional value per 10g of shrimp
• Forecast: Fresh shrimp production in Portuguese capture fisheries
• Catches - Mediterranean, Black Sea and western Indian Ocean
• Landings of fish products (shrimp and prawns) in Portugal
• Seafood consumers' preferred distribution channels
• EU shrimp landings in 2020 by volume
• EU shrimp landings in 2020 by value
• Average value of shellfish landings by port of landing
• Price trend per kilogram of shrimp
• Trends in European shrimp consumption
• Preferences for wild or farmed produce
• Types of EU quality products in the seafood sector
• Types of EU quality products in the seafood sector 2
• Revenues from the "fish and shellfish processing and preservation" industry in Portugal 2012-2025
• Sales in the fish, crustacean and mollusc retail industry"

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