Prawn Market Size, Share, Demand, Key players Analysis and Forecast 2024-2032

IMARC Group's report titled "Prawn Market Report by Species (Penaeus Vannamei, Penaeus Monodon, Macrobrachium Rosenbergii, and Others), Prawn Size (<21, 21-25, 26-30, 31-40, 41-50, 51-60, 61-70, >70), and Region 2024-2032". The global prawn market size reached 8.4 Million Tons in 2023. Looking forward, IMARC Group expects the market to reach 10.9 Million Tons by 2032, exhibiting a growth rate (CAGR) of 2.9% during 2024-2032.

Factors Affecting the Growth of the Prawn Industry:

• Increasing Global Seafood Consumption:

The rise in global seafood consumption is a major driver for the prawn market. As health-conscious consumers increasingly prefer seafood for its nutritional benefits, including high protein content and low fat, the demand for prawns has surged. Prawns are widely recognized for their versatility in cooking and appealing taste, making them a popular choice in diverse cuisines. This trend is especially prominent in regions with growing middle-class populations, where higher disposable incomes lead to greater spending on premium food items. Additionally, the expansion of international trade and the proliferation of seafood restaurants and ready-to-eat meals contribute to the increased demand for prawns, driving market growth.

• Aquaculture Advancements:

Advances in aquaculture technology significantly are propelling the growth of the prawn market. Innovations in farming techniques, including improved breeding methods, disease management, and feeding practices, enhance prawn production efficiency and sustainability. Apart from this, modern aquaculture practices enable higher yields and better quality prawns, meeting the growing global demand. These advancements help overcome challenges such as environmental impacts and disease outbreaks, making prawn farming more viable and profitable. As aquaculture technology continues to evolve, it supports the expansion of prawn supply, thereby driving market growth and stability.

• Rising Export Opportunities:

The growth of export opportunities plays a crucial role in driving the prawn market. Many countries with established prawn farming industries, such as Thailand, India, and Vietnam, are expanding their export markets to meet global demand. Trade agreements, improved logistics and increased international demand for high-quality prawns expand export activities. Additionally, rising consumer preference for prawns in international markets creates lucrative opportunities for producers to expand their reach. As global trade networks improve and access to new markets increases, the prawn market experiences significant growth driven by export opportunities.

For an in-depth analysis, you can refer sample copy of the report: https://www.imarcgroup.com/prefeasibility-report-prawn-processing-plant/requestsample

Prawn Market Report Segmentation: 

Breakup by Species:

• Penaeus Vannamei
• Penaeus Monodon
• Macrobrachium Rosenbergii
• Others 

Breakup by Prawn Size:

• <21 
• 21-25
• 26-30
• 31-40
• 41-50
• 51-60
• 61-70
• >70

Market Breakup by Region:

• North America (United States, Canada)
• Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
• Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa

Global Prawn Market Trends:

The global prawn market is primarily driven by increasing consumer demand for seafood, fueled by population growth, rising affluence, and shifting dietary preferences toward healthier protein sources. Prawns, renowned for their succulent taste and nutritional benefits, are favored by consumers worldwide, particularly in diverse culinary traditions, driving their popularity and market demand. Apart from this, the rapid expansion of aquaculture practices, specifically in prawn farming, plays a pivotal role in meeting the rising demand for prawns globally. Furthermore, ongoing technological advancements and improved farming techniques have enhanced production efficiency and sustainability, ensuring a stable supply of high-quality prawns to the market, thus contributing to its growth.

Note: If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

About Us:

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARCs information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the companys expertise.

Our offerings include comprehensive market intelligence in the form of research reports, production cost reports, feasibility studies, and consulting services. Our team, which includes experienced researchers and analysts from various industries, is dedicated to providing high-quality data and insights to our clientele, ranging from small and medium businesses to Fortune 1000 corporations.

Contact Us:

IMARC Group

134 N 4th St. Brooklyn, NY 11249, USA

Email: sales@imarcgroup.com

Tel No:(D) +91 120 433 0800

United States: +1-631-791-1145