The Shrimp Market is forecasted to grow by USD 7.39 billion between 2023 and 2028, registering a CAGR of 4.36%, according to Technavio. The increasing consumer awareness of shrimp’s health advantages and initiatives aimed at expanding shrimp aquaculture are key drivers of this growth. Another contributing factor is the growing number of shrimp-based product launches. Sustainable fishing methods are emerging as a major trend within the industry, as consumers are increasingly demanding seafood that is harvested responsibly. Global demand for seafood is on the rise, spurring the growth of aquaculture, which provides a more controlled and sustainable way to increase shrimp production. Moreover, seafood retailers are turning to innovative practices to ensure the sustainability of shrimp fisheries. This includes efforts to reduce waste and optimize harvest yields, ensuring that seafood supplies are able to meet growing demand. Technavio’s report highlights these sustainability trends as vital to the market’s future growth.

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