IMARC Group's latest research report, titled "Europe Shrimp Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028," offers a comprehensive analysis of the industry, which comprises insights on the Europe shrimp market outlook. The report also includes competitor and regional analysis, and contemporary advancements in the market. The Europe shrimp market size reached 846.8 Kilo Tons in 2022. Looking forward, IMARC Group expects the market to reach 950.8 Kilo Tons by 2028, exhibiting a growth rate (CAGR) of 1.99% during 2023-2028.
Europe Shrimp Market Overview:
Shrimp is a translucent clear, elongated invertebrate aquatic animal that belongs to the class of crustaceans. It is generally found near the seafloor, in rivers, lakes, and on certain coasts and is referred to as the most flavored and delicious delicacies from the seafood congregate. It plays an essential role in the food chain and is a vital source of nutrients for larger animals, such as fish and whales. Additionally, it is a rich source of phosphorus, antioxidants, proteins, iron, selenium, copper, magnesium, omega-3 fatty acids, and vitamins B that assists in losing weight, relieving eye fatigue, improving bone and brain health, lowering blood pressure, and minimizing the chances of developing cardiovascular diseases. As a result, it is widely used in the preparation of numerous food items, including salads, pasta, curry, soups, and stir-fried dishes.
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Europe Shrimp Market Demand Analysis:
The market in Europe is primarily driven by the increasing consumption of seafood among individuals. This can be attributed to the rising prevalence of cardiovascular diseases among the masses. Moreover, the growing consumer awareness and expanding aquaculture industry are further catalyzing the growth of the shrimp market. Besides this, the rising utilization of shrimp shells in the manufacturing of cosmetics and personal care products, such as creams and shampoos, is creating a positive market outlook.
Furthermore, numerous major companies are launching frozen and canned variants of shrimp using sustainable packaging solutions, which is gaining widespread prominence across the region. Along with this, the rising initiatives undertaken by governments to promote fish farming are favorably impacting the market. Other factors, such as changing dietary patterns of the masses and the emerging e-commerce sector, are also influencing the market across Europe.
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Competitve Landscape:
The competitive landscape of the market has also been analyzed in the report, covering the detailed profiles of the major players operative in the industry.
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