Edible Prawns market

Global Edible Prawns Market Research Report 2024(Status and Outlook)

  • 20 September 2024
  • Food and Beverages
  • Report code : PMR-8004925

  • 4.7 (158)

Edible Prawns Market

COMPANIES COVERED

ZONECO
Guo Lian
Zhoushan Fisheries
China National Fisheries
Oriental Ocean
Nippon Suisan Kaisha
Maruha Nichiro
Kibun
Marudai Food
Aeon

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The "Global Edible Prawns Market" was valued at US$ 45.8 Billion in 2024 and is projected to reach US$ 62.5 Billion by 2030, at a CAGR of 5.3% during the forecast period.

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The edible prawns market is a significant segment of the global seafood industry, driven by consumer preferences for healthy, protein-rich food. Prawns, known for their versatility in various cuisines, are in high demand across both retail and food service sectors.

Key End-User Segments:

  1. Household Consumers:

    • Market Share: Household consumers represent approximately 60-65% of the edible prawns market.

    • Demographics: Predominantly urban, health-conscious individuals aged 25-55 who value fresh, high-protein meals. This segment includes both families and single professionals looking for quick, nutritious meal options.

    • Buying Behavior:

      • Fresh and frozen prawns are preferred for home cooking, with an increasing trend toward organic and sustainably sourced products.

      • Prawns are a common choice for healthy, quick-to-prepare meals, with seafood lovers purchasing them for use in salads, stir-fries, pastas, and grilled dishes.

      • There is growing interest in prawns due to their high omega-3 content and low fat, appealing to consumers focused on balanced diets.

    • Popular Formats: Fresh prawns are the most popular, followed by frozen and pre-cooked options. Organic and eco-labeled prawns are on the rise, especially in high-income regions.

  2. Restaurants and Food Service:

    • Market Share: Restaurants and food service outlets account for around 25-30% of the total demand.

    • Trends:

      • Prawns are a menu staple in seafood restaurants and are increasingly featured in international cuisines, particularly Asian, Mediterranean, and fusion menus.

      • Fine dining establishments favor wild-caught, premium prawns, while fast-food outlets and casual dining chains use prawns in more affordable and accessible dishes like prawn tacos, shrimp rolls, and pasta.

    • Popular Uses: In restaurants, prawns are widely used in appetizers, soups, sushi, and pasta dishes. They are also favored in grilled, tempura, or battered forms, catering to diverse customer preferences.

    • Consumer Preferences: Sustainability-conscious diners often seek out restaurants that serve prawns certified by eco-labels such as ASC (Aquaculture Stewardship Council) or MSC (Marine Stewardship Council).

  3. Supermarkets and Retail Stores:

    • Market Share: Supermarkets and retail chains contribute approximately 10-12% of the edible prawn market.

    • Trends:

      • Supermarkets increasingly offer a broad selection of prawns, from fresh and frozen to pre-packaged and ready-to-cook options.

      • Eco-labels, organic certification, and sustainable sourcing are becoming critical selling points, especially in premium grocery stores.

      • Retailers are promoting frozen prawns as a convenient, long-lasting alternative to fresh seafood, especially in regions where fresh prawns may not be readily available.

    • Consumer Behavior: Many shoppers choose prawns based on price, origin (wild vs. farm-raised), and sustainability certifications. Packaging that highlights convenience and health benefits attracts more buyers.

  4. Food Processors and Manufacturers:

    • Market Share: Food processors represent around 5-8% of the edible prawn market.

    • Usage: Processed prawns are widely used in ready-to-eat meals, frozen seafood products, and prawn-based snacks.

    • Trends:

      • Manufacturers are leveraging the nutritional benefits of prawns in health-focused products such as prawn salads, seafood platters, and protein-rich frozen meals.

      • Pre-cooked prawns for easy meal preparation are increasingly popular in frozen food aisles, targeting time-poor consumers seeking healthy alternatives.

    • Popular Products: Prawn-based frozen meals, shrimp scampi, prawn dumplings, and snacks are key products driving demand in this segment.

  5. Institutional Buyers (Hotels, Airlines, Catering):

    • Market Share: Institutional buyers account for around 5-7% of the market.

    • Key Drivers:

      • Hotels, airlines, and catering companies purchase prawns in bulk for large-scale events, buffet services, and in-flight meals.

      • These buyers prioritize consistency, quality, and cost-efficiency, often sourcing frozen or pre-cooked prawns to streamline preparation and minimize waste.

    • Popular Uses: Prawns are frequently featured in event catering menus, hotel buffets, and premium airline meals, typically served as seafood platters, in salads, or as grilled entrees.

Regional Insights:

  • Asia-Pacific:

    • Market Share: Asia-Pacific dominates the edible prawns market, contributing around 60-65% of global consumption.

    • Key Markets: China, India, Vietnam, and Thailand are major consumers and producers of prawns, with a strong cultural preference for seafood.

    • Trends: Increasing demand for high-quality, sustainably sourced prawns is driving growth, alongside a rising focus on farmed prawns.

  • North America:

    • Market Share: North America represents around 15-18% of the global market.

    • Key Drivers: Health-conscious consumers are drawn to prawns for their low calorie, high protein content. There is also increasing demand for wild-caught prawns and those certified for sustainability.

  • Europe:

    • Market Share: Europe contributes approximately 12-15% to the global market.

    • Trends: European consumers are showing growing interest in organic and sustainably farmed prawns, with Spain, Italy, and the UK leading in consumption.

    • Sustainability: European buyers are highly focused on eco-friendly products, with prawns bearing eco-certifications being favored.

Edible Prawns Market provides a deep insight into the global Edible Prawns market covering all its essential aspects. This ranges from a macro overview of the market to micro details of the market size, competitive landscape, development trend, niche market, key market drivers and challenges, SWOT analysis, value chain analysis, etc.

The analysis helps the reader to shape the competition within the industries and strategies for the competitive environment to enhance the potential profit. Furthermore, it provides a simple framework for evaluating and accessing the position of the business organization. The report structure also focuses on the competitive landscape of the Global Edible Prawns Market, Edible Prawns Market introduces in detail the market share, market performance, product situation, operation situation, etc. of the main players, which helps the readers in the industry to identify the main competitors and deeply understand the competition pattern of the market.

In a word, Edible Prawns Market is a must-read for industry players, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the Edible Prawns market in any manner.

Global Edible Prawns Market: Market Segmentation Analysis

The research report includes specific segments by region (country), manufacturers, Type, and Application. Market segmentation creates subsets of a market based on product type, end-user or application, Geographic, and other factors. By understanding the market segments, the decision-maker can leverage this targeting in the product, sales, and marketing strategies. Market segments can power your product development cycles by informing how you create product offerings for different segments.

Key Company:

  • ZONECO

  • Guo Lian

  • Zhoushan Fisheries

  • China National Fisheries

  • Oriental Ocean

  • Nippon Suisan Kaisha

  • Maruha Nichiro

  • Kibun

  • Marudai Food

  • Aeon

Including or Excluding key companies relevant to your analysis.

By Type:

  • Seawater Shrimp

  • Freshwater Shrimp

By Application:

  • Supermarket

  • Restaurant

  • Household

  • Others

Geographic Segmentation:

  • North America (USA, Canada, Mexico)

  • Europe (Germany, UK, France, Russia, Italy, Rest of Europe)

  • Asia-Pacific (China, Japan, South Korea, India, Southeast Asia, Rest of Asia-Pacific)

  • South America (Brazil, Argentina, Columbia, Rest of South America)

  • The Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria, South Africa, Rest of MEA)

Key Benefits of This Market Research:

  • Industry drivers, restraints, and opportunities covered in the study

  • Neutral perspective on the market performance

  • Recent industry trends and developments

  • Competitive landscape & strategies of key players

  • Potential & niche segments and regions exhibiting promising growth covered

  • Historical, current, and projected market size, in terms of value

  • In-depth analysis of the Edible Prawns Market

  • Overview of the regional outlook of the Edible Prawns Market:

Key Reasons to Buy this Report:

  • Access to date statistics compiled by our researchers. These provide you with historical and forecast data, which is analyzed to tell you why your market is set to change

  • This enables you to anticipate market changes to remain ahead of your competitors

  • You will be able to copy data from the Excel spreadsheet straight into your marketing plans, business presentations, or other strategic documents

  • The concise analysis, clear graph, and table format will enable you to pinpoint the information you require quickly

  • Provision of market value (USD Billion) data for each segment and sub-segment

  • Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market

  • Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region

  • Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled

  • Extensive company profiles comprising of company overview, company insights, product benchmarking, and SWOT analysis for the major market players

  • The current as well as the future market outlook of the industry concerning recent developments which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions

  • Includes in-depth analysis of the market from various perspectives through Porters five forces analysis

  • Provides insight into the market through Value Chain

  • Market dynamics scenario, along with growth opportunities of the market in the years to come

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Chapter Outline

Chapter 1 mainly introduces the statistical scope of the report, market division standards, and market research methods.

Chapter 2 is an executive summary of different market segments (by region, product type, application, etc), including the market size of each market segment, future development potential, and so on. It offers a high-level view of the current state of the Edible Prawns Market and its likely evolution in the short to mid-term, and long term.

Chapter 3 makes a detailed analysis of the market's competitive landscape of the market and provides the market share, capacity, output, price, latest development plan, merger, and acquisition information of the main manufacturers in the market.

Chapter 4 is the analysis of the whole market industrial chain, including the upstream and downstream of the industry, as well as Porter's five forces analysis.

Chapter 5 introduces the latest developments of the market, the driving factors and restrictive factors of the market, the challenges and risks faced by manufacturers in the industry, and the analysis of relevant policies in the industry.

Chapter 6 provides the analysis of various market segments according to product types, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different market segments.

Chapter 7 provides the analysis of various market segments according to application, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different downstream markets.

Chapter 8 provides a quantitative analysis of the market size and development potential of each region and its main countries and introduces the market development, future development prospects, market space, and capacity of each country in the world.

Chapter 9 introduces the basic situation of the main companies in the market in detail, including product sales revenue, sales volume, price, gross profit margin, market share, product introduction, recent development, etc.

Chapter 10 provides a quantitative analysis of the market size and development potential of each region in the next five years.

Chapter 11 provides a quantitative analysis of the market size and development potential of each market segment (product type and application) in the next five years.

Chapter 12 is the main points and conclusions of the report.

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