Europe Shrimp Market Outlook

According to the report by Expert Market Research (EMR), the Europe shrimp market size achieved a value of 1,115.3 KMT in 2024. Driven by the increasing demand for seafood, growing awareness of the health benefits associated with shrimp consumption, and the rising popularity of convenient and sustainable food options, the market is projected to grow at a compound annual growth rate (CAGR) of 1.6% between 2025 and 2034, reaching a volume of 1,219.0 KMT by 2034.

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Shrimp, recognized for its high protein content and low-fat profile, is one of the most widely consumed seafood items in Europe. With a variety of cooking options, shrimp has earned a significant place in the culinary traditions of many European countries, particularly in Mediterranean cuisines. Its appeal extends beyond taste and versatility, as it is rich in omega-3 fatty acids, antioxidants, and essential vitamins, making it a popular choice among health-conscious consumers. The ongoing demand for shrimp in both domestic and export markets, coupled with advancements in sustainable shrimp farming, is expected to contribute to the continued growth of the European shrimp market over the forecast period.

Key Drivers of Market Growth

Several factors are contributing to the expansion of the shrimp market in Europe:

Increasing Consumer Preference for Seafood: Europe has seen a steady increase in seafood consumption as consumers become more health-conscious and place a higher priority on diets rich in proteins, low in fats, and beneficial for heart health. Shrimp, being an excellent source of protein, essential amino acids, and omega-3 fatty acids, fits well into this growing trend. Moreover, with greater awareness of the health benefits associated with seafood consumption, particularly its role in reducing the risk of cardiovascular diseases and enhancing brain health, shrimp consumption is gaining popularity across the region.

Growing Demand for Sustainable and Ethical Sourcing: The demand for sustainably sourced seafood has been rising, particularly in Europe, where there is heightened consumer awareness regarding environmental and ethical issues. As concerns over overfishing and the impact of traditional fishing practices on marine ecosystems grow, consumers are increasingly looking for shrimp that is responsibly sourced. This has led to a greater emphasis on certified sustainable shrimp farming practices, including the adoption of Aquaculture Stewardship Council (ASC) and Marine Stewardship Council (MSC) certifications. These certifications assure consumers that the shrimp they are purchasing has been farmed or caught with minimal environmental impact, leading to higher demand for sustainably sourced shrimp in the market.

Convenience and Ready-to-Eat Products: The rising demand for convenience foods, particularly among busy urban populations, is a key factor driving the growth of the shrimp market in Europe. Ready-to-cook and ready-to-eat shrimp products, such as frozen shrimp, shrimp cocktails, and shrimp-based meals, are gaining traction in retail outlets and supermarkets. These products cater to the growing consumer preference for quick and easy meal solutions that do not compromise on taste or nutrition. Moreover, the availability of shrimp in various forms, such as pre-peeled, deveined, or marinated, further enhances the convenience factor for consumers.

Increased Export Demand from European Countries: In addition to domestic consumption, European countries, such as Spain, the Netherlands, and France, are significant exporters of shrimp to other parts of the world. The robust export market is driven by European shrimp’s reputation for quality and sustainability, with an increasing demand for European seafood products in international markets. Additionally, as international trade relationships and global supply chains evolve, European shrimp exporters are increasingly capitalizing on the growing demand for shrimp in Asia, the United States, and other regions.

Technological Advancements in Shrimp Farming: Technological innovations in shrimp farming are playing a key role in the market’s growth. Advances in breeding techniques, disease management, and feed formulation have resulted in increased yields and improved the overall sustainability of shrimp farming. These innovations have led to better control of shrimp farming environments, reducing the environmental impact of aquaculture while improving the quality and availability of shrimp. The rise of land-based, closed-loop aquaculture systems that minimize water usage and reduce pollution is also gaining traction, which is further boosting the shrimp market by ensuring the sustainability of shrimp production.

Applications of Shrimp

The European shrimp market sees widespread application across various sectors, from the foodservice industry to home cooking. Some of the most prominent applications include:

Consumer and Retail Markets: The primary application of shrimp is in the consumer retail sector. Fresh and frozen shrimp products are readily available in supermarkets, hypermarkets, and online grocery platforms. Shrimp is used in a variety of home-cooked meals, including pasta dishes, salads, soups, and stir-fries. The increasing availability of pre-cooked, peeled, and deveined shrimp has made it easier for consumers to prepare shrimp dishes at home, further boosting retail sales.

Foodservice Industry: The foodservice industry, including restaurants, hotels, and catering businesses, represents another key application for shrimp. Europe has a rich culinary tradition that features shrimp in many regional dishes. For example, shrimp is used in Spanish paella, Italian pasta dishes, and French seafood stews. The growing number of international and specialty restaurants in Europe has contributed to the rising demand for shrimp in foodservice. Additionally, the increasing popularity of international cuisines, such as Asian, Latin American, and Mediterranean, has further expanded shrimp's role in the foodservice industry.

Processed Foods: Shrimp is increasingly used in processed food products, such as frozen meals, shrimp-based snacks, and ready-to-eat products. These products are gaining popularity in European markets due to their convenience and nutritional value. With busy lifestyles and increasing reliance on convenience foods, processed shrimp products are becoming a staple in many households and are widely available in retail chains across the continent.

Exports: Shrimp from European countries is exported to global markets, including North America, Asia, and the Middle East. European shrimp is highly regarded for its quality, sustainability, and traceability, with significant demand from countries looking for ethically sourced seafood. This growing export market contributes to the overall expansion of the European shrimp industry.

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Europe Shrimp Market Segmentation

The market can be divided based on the environment, species, product type, distribution channel, source, and country.

Market Breakup by Environment

• Wild
• Farmed

Market Breakup by Species

• Penaeus Vannamei
• Penaeus Monodon
• Macrobrachium Rosenbergii
• Others

Market Breakup by Product Type

• Peeled
• Shell-On
• Cooked
• Breaded
• Others

Market Breakup by Distribution Channel

• Hypermarkets and Supermarkets
• Convenience Stores
• Hotels and Restaurants
• Online
• Others

Market Breakup by Source

• Domestic Production
• Imports

Market Breakup by Country

• United Kingdom
• Germany
• France
• Italy
• Netherland
• Spain

Competitive Landscape

Some of the major key players explored in the report by Expert Market Research are as follows:

• Nordic Seafood A/S
• Heiploeg International B.V.
• Viciunai Group
• Afentoulis Liveris & Co. O.E.
• Sykes Seafoods Ltd.
• Seamark plc
• Morubel NV
• Others

Challenges in the Market

Europe's shrimp market is driven by demand from various regions within the continent, each contributing to the overall market growth in distinct ways:

Southern Europe: Countries such as Spain, Italy, and Greece have a long history of shrimp consumption, especially due to the region's Mediterranean cuisine. Shrimp is a central ingredient in many traditional dishes such as Spanish paella and Italian seafood pasta. Southern Europe is the leading consumer of shrimp in Europe, driven by the popularity of shrimp in traditional cooking and the demand for seafood in restaurants and hotels.

Western Europe: Western European countries, including France, the United Kingdom, and Germany, also contribute significantly to the shrimp market. In these countries, shrimp consumption is growing due to increasing awareness of its health benefits and the availability of convenience shrimp products. Additionally, the growing trend of plant-based and sustainable food choices is pushing consumers in this region to seek responsibly sourced and ethically produced shrimp.

Eastern Europe : The shrimp market in Eastern Europe is relatively underdeveloped compared to Western and Southern Europe but is expected to grow rapidly in the coming years. Countries like Poland, Romania, and Hungary are increasingly adopting seafood in their diets, leading to a rise in shrimp consumption. As incomes rise and consumers seek healthier food options, the demand for shrimp is expected to surge in this region.

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