Summary of our market study

Since 2020, the global shrimp market has shown significant trends worth highlighting. In 2022, the market was valued at around $68.40 billion and is expected to grow at a CAGR of 5.5% to 2030, propelled by shrimp's reputation as a healthier, low-fat, high-protein, omega-3-rich alternative. Ecuador became a dominant exporter in 2023, on track to surpass 2022 figures with 1.5 million tonnes, an increase of 30%. This puts Ecuador ahead of India, whose production has weakened due to disease, as well as Vietnam and Indonesia, the latter having seen its exports fall by 19% in the first half of the year. In the UK, the shrimp trade has been volatile, with export values plummeting by 82.6% from $72.9 million in 2018 to $12.7 million in 2022, while imports grew by 3.9%. In addition, the Russian-Ukrainian conflict since February 2022 has had a significant impact on consumer and producer price indices for fish, driving up prices by 22.5% and 23.2%. Despite these challenges, FloGro Fresh is breaking new ground with the UK's first industrial-scale closed-loop aquaculture system, aiming to achieve the highest possible yields.despite these challenges, FloGro Fresh is pioneering the UK's first industrial-scale closed-circuit aquaculture system, aiming to produce 2,500 tonnes of shrimp a year by 2026, while global sales of aquaculture shrimp are expected to reach $64.92 billion by 2030, with a compound annual growth rate (CAGR) of 6.2%.

UK shrimp market dynamics and consumer preferences

The UK shrimp market is characterized by a variety of complex and evolving trends linked to both import-export activities and domestic consumer demands. The country has always been a net importer of shellfish and shrimps, with a large proportion of imports coming from Asian and South American countries such as India, Vietnam and Ecuador. While the value of exports shows a notable decline, of over 80% between 2018 and 2022, the value of shellfish and shrimp imports has shown an upward trend. Exploring the structure of the UK shrimp market, it's worth noting a slight decline in the number of businesses engaged in marine fishing and aquaculture, falling by around 3.5% between 2019 and 2023. Employment figures are slightly more positive, with growth of over 15% between 2018 and 2022, although this was followed by a decline coinciding with the Russian-Ukrainian conflict. The conflict has also put pressure on consumer and producer prices. For example, in the space of just 22 months between 2022 and 2023, the consumer price index for fish rose substantially, indicating a significant increase in prices for consumers. Producer prices for the processed and canned fish sector experienced similar inflationary trends.

Household spending has also fluctuated. Between 2018 and 2021, spending on fish and fish products rose by over 20%, before falling sharply between 2021 and 2022. Shrimps, though popular, have not been spared by these changes, with sales volumes declining. However, fresh shrimp continues to dominate the market in terms of sales value, accounting for over half of shrimp sales in 2023, compared with around a third for frozen shrimp. UK consumers' shrimp preferences clearly favor the warm-water variety, whose share of sales has risen from 63.0% to over 68.0% in recent years. At the same time, demand for cold-water shrimp has declined to some extent. Age and income bracket are important factors in shrimp demand, with older populations and higher-income earners spending more each year on fish and fish products. Geographically, England is the UK country where households spend on average the most money per month on these products. The most important legislative guide for the shrimp industry is contained in the UK's "Blue Book", which brings together all relevant legislation and directives.

Key players shaping the UK seafood landscape

The UK seafood market is dynamic and diverse, with a number of companies making significant contributions through imports, exports and distribution, particularly in the shrimp and seafood sector. Let's take a closer look at some of the key companies helping to satisfy the nation's seafood cravings:

  • Brake Bros Limited: An established supplier to the catering industry for over six decades, Brake Bros Limited offers an impressive range of high-quality food and catering products. With a team of over 6,500 people, their range of own-brand products is notably the widest in the foodservice sector. In 2016, the acquisition by Sysco Corporation further strengthened Brake Bros Limited with new resources, keeping them one step ahead in the foodservice sector.
  • Fastnet Fish Limited: Since 1980, Fastnet Fish, part of Andrew Marr International Limited, has built a global reputation as a supplier of high-quality, sustainably farmed frozen fish and seafood. Fastnet Fish is not only a market leader, but also ensures global reach for its frozen seafood products to a diverse customer base in the retail and wholesale sectors.
  • Seahawk Marine Foods Limited: Seahawk began its journey in 1982 and has since been committed to providing high quality, responsibly sourced frozen seafood products. Seahawk Marine Foods Limited, one of the UK's leading independent shrimp importers, offers a wide range of frozen seafood products from trusted suppliers to the wholesale, foodservice and industrial sectors.
  • Sykes Seafood Limited: With roots dating back to 1862, Sykes Seafood Limited has become a leading, award-winning seafood supplier. Its commitment to sustainability and ethical sourcing is at the forefront of its business. With multiple production sites across Europe, the company efficiently supplies the foodservice, hospitality and retail sectors in the UK and Ireland.
  • Marrfish Limited: A pioneer since 1860, Marrfish Limited has been at the forefront of technological and practical advances in the trawling industry. First recognized for improving deep-sea trawling, Marrfish has been supplying top-quality fresh fish to elite restaurants and hotels in the UK since 2011. The company's expertise in high-quality seafood is centralized in its modern processing facilities in Grimsby.
  • Seamark PLC: Since 1976, Seamark PLC has established itself as one of Europe's leading processors and exporters of quality seafood products.
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Summary and extracts

1 Synthèse du marché

1.1 Introduction

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.

1.2 The global market

The global shrimp market size has been estimated at **.** billion of dollars in **** and is expected to grow at a compound annual growth rate(***) and is perceived as a healthier option.

the global seafood market is highly dynamic and diverse, encompassing an extensive variety of aquatic products from both wild fisheries ...

1.3 The market in the United Kingdom

Fish and fish products represent one of the major segments of the food and beverage sector in the UK. Between **** and ****, the value of retail sales of fish increased from *.** billion pounds to *.** billion pounds, a growth of *.*% over the period. However, while between **** and **** the growth is **.*%, in the following ...

1.4 Import - Export

The UK is a net importer of shellfish and shrimp. As shown in the graph below, between **** and **** the coverage ratio, determined by the ratio of exports to imports multiplied by ***, is well below ***, ranging from **.* in **** to *.* in ****. Looking more specifically at trade flows, between **** and ****, the value of UK ...

1.5 The consequences of the Russian-Ukrainian conflict

The outbreak of the Russian-Ukrainian conflict in February **** resulted in, among other things, a general increase in price indexes. The food sector was one of the most affected by the crisis following the outbreak of the conflict and the segment related to fish consumption and production is not exempt.

In the ...

2 Analyse de la demande

2.1 Demand in the United Kingdom

Between **** and ****, average monthly household spending in the UK on the purchase of fish and fish products increased by *.*%. However, it is possible to show a more noticeable increase between **** and **** (***). The main reason for the decline in spending by households is the increase in prices recorded following the outbreak of ...

2.2 Demand drivers

In terms of demand drivers, consumer age and income bracket are considered.


Annual expenditure on the consumption of fish and fish products appears to be correlated with the age of the consumer. As shown in the graph below, spending tends to increase as age increases: while among younger people spending ...

2.3 Geographical distribution of demand

In order to analyze the geographical distribution of demand in the United Kingdom, a map was created with the average monthly household expenditure on fish and fish products consumption for each member country.

England presents the highest value with an average monthly expenditure that stands at **.** pounds per household. In Wales ...

3 Structure du marché

3.1 The market structure

In order to analyze the structure of the shrimp market in the UK, marine fishing and marine aquaculture enterprises are considered. In particular, the number of enterprises active in the sector, the number of employees and the legal form of enterprises are highlighted.

Number of enterprises

Between **** and ****, the total number ...

3.2 The value chain

3.3 Distribution

The shrimp market in the UK is heavily dependent on retail. In fact, this collects **% of the value of sales in ****. This is followed by food services at **% while institutional channels contribute just *% to total sales.

Sales of unprocessed seafood products, by distribution channel United Kingdom, ****, % Eumofa

Considering the retail sale ...

3.4 The main actors

The following are some of the major players active in the import, export and distribution of seafood products including shrimp:

Brake Bros Limited: the company has been providing high-quality food and catering supplies to the restaurant industry for more than ** years. The company now employs more than *,*** people and boasts the ...

4 Analyse de l'offre

4.1 Type of the offer

The supply of shrimp in the UK is mainly divided into two distinct segments:

Cold-water shrimp: Origin: these shrimp generally come from the cold waters of the North Atlantic and North Pacific. Size: they are usually smaller than warm-water shrimp. Characteristics: they have a sweeter flavor and firmer texture, highly valued ...

4.2 The prices

In the United Kingdom, prices related to the retail sale of coldwater and warmwater shrimp generally increased between **** and ****. For cold-water shrimp, average prices increased from **.** pounds per kilo and **.** pounds per kilo (***).

Average price per kilo of shrimp in retail United Kingdom, ****-****, in pounds Seafish

The following are retail ...

4.3 New supply trends: closed recirculation aquaculture

A pioneering company in the industry, FloGro Fresh, is in the process of setting up the first closed recirculating aquaculture system (***). The company estimates a production capacity of around *,*** tons per year of fresh shrimp. Powered by renewable energy and leveraging innovative treatment solutions to recycle water, heat, and salt the ...

5 Règlementation

5.1 The legislation

Regarding legislation about the shrimp market and more generally about fisheries, in the UK all regulations and legislation are contained within the Blue Book. This brings together all the regulations in force in the United Kingdom and the European Union. Some of the main laws for the shrimp segment are:

Fisheries ...

6 Positionnement des acteurs

6.1 Segmentation

  • Brake Bros Limited
  • Sykes Seafood Limited
  • Fastnet Fish Limited
  • The Big Prawn Company Limited
  • Seahawk Limited
  • Seamark PLC
  • Peninsula Seafood Limited

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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. :

Brake Bros Limited
Sykes Seafood Limited
Fastnet Fish Limited
The Big Prawn Company Limited
Seahawk Limited
Seamark PLC
Peninsula Seafood Limited

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