The shrimp market - United Kingdom

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 shrimp over 15 cm ("prawn" in English, "gamberone" in Italian). Global catches of shrimp have increased dramatically 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% until 2030. The shrimp market in the UK represents a significant segment of the seafood industry, characterized by growing demand in both the retail and foodservice sectors. Between 2019 and 2023, total consumer spending in the UK on shrimp grew by 14.9%, from £518.1 million to £595.2 million. This study focuses on the specific shrimp market in the UK, analyzing consumption trends, competitive dynamics, and growth prospects for the sector. For information on the shrimp market in other countries, such as Italy, France, and Denmark,please refer to the specific studies available in the Businesscoot catalog.