The shrimp industry in Western Europe is poised for significant expansion, driven by a blend of favorable market conditions and evolving consumer preferences. According to a recent report from Future Market Insights, the industry is expected to grow at an impressive compound annual growth rate (CAGR) of 8.1% from 2023 to 2033, reaching a valuation of USD 17,276.34 million by 2033.

Driving Factors

Reduced seafood supply from Asia and the Pacific has opened up new avenues for Western European shrimp producers. The shifting landscape of global trade presents lucrative opportunities for the region’s seafood industry to meet the rising demand.

The rapid surge in eCommerce and online retailing of seafood across Western Europe has broadened the consumer base for shrimp products. Online platforms offer increased accessibility and enhanced distribution channels for shrimp producers.

Recent Industry Developments

In a bid to bolster its distribution footprint, Royal Greenland of Denmark recently formed a partnership with Royal Fresh Fish GmbH. This move is set to augment sourcing and distribution channels across Western European countries.

Similarly, Urner Barry Company expanded its shrimp trading business in Western Europe, focusing on value-added imports from South and Southeast Asia, as well as Latin America.