Organic Shrimp Market is Set to Surge by 2027 with Increasing Demand for Certified Organic Food by Consumers

There is unprecedented growth in the demand for certified organic food, and new areas of organic food production, such as seafood, are proving increasingly popular. About the Codex Alimentarius Commission, organic aquaculture refers to the production processes and practices of ecological production management systems that promote and enhance biodiversity, biological cycles, and biological activity. It is based on minimal use of off-farm inputs and on holistic management practices that restore, maintain, and enhance species diversity and ecological harmony. More generally, the primary goal of organic agriculture is to optimize the health and productivity of interdependent communities of soil life, plants, animals, and people.

The past decade has seen a rise in demand for organic seafood, notably in Europe, North America, and Japan. Growing demand is also noticeable among emerging middle classes of emerging economies. Part of this demand is met domestically (e.g., carp, brook trout (Salvelinus fontinalis) or rainbow trout (Oncorhynchus mykiss) in Austria and Germany) or regionally (e.g., salmon, cod, and mollusks in northern and western Europe, or seabream, seabass, or even tilapia in countries around the Mediterranean Sea). A large proportion of organically certified aquaculture products are produced in developing countries and processed and shipped to their markets.

Charoen Pokphand Foods PCL, High Liner Foods Incorporated, Maruha Nichiro Corporation, Omarsa S.A., and Royal Greenland A/S – PROMINENT MARKET PARTICIPANTS IN ORGANIC SHRIMP MARKET

Historically, the demand for the shrimp witnessed an unprecedented increase in the volume of exports across the western countries such as the U.S., Western European countries accounting for the substantial share in overall demand for the shrimp imports from Asian countries. For instance, the demand for shrimp rocketed up to 359% between 2000 and 2015 from 1.13 million metric tons to 4.87 million metric tons respectively according to data accessed by the GGN food certification authority. Subsequently, the propelling the demand for notable number of organic shrimp farming for several commercial applications. As a result, the supply for organic shrimp farming gained major traction across numerous Asian countries such as Bangladesh, Thailand, India, Indonesia, China and selected Latin American countries to name a few countries that witnessed a surge in the aquaculture-based shrimp farming enterprise. Thus, several government organizations and state-level organizations have facilitated infrastructure, raised awareness and have encouraged aquaculture farming techniques that aid in the growth of organic shrimp across their respective countries.

The Organic Shrimp market operates in a highly fragmented and competitive marketplace. As leading companies in this market continue to broaden its addressable market, by expanding its current offerings, diversifying its client base, all the prominent players face an increasing level of competition. Several companies in the market are developing new products in order to maintain their position in the market and provide efficient products to their customers. For instance, in October 2018, Nippon Suisan Kaisha, Ltd. announced that the company entered into an agreement with Seafarms Group Ltd. (SFG) to acquire 14.99% of its outstanding issued share by the issue of new shares for US$25 million.

The key companies profiled in the Organic Shrimp market include Charoen Pokphand Foods PCL, High Liner Foods Incorporated, Maruha Nichiro Corporation, BLUE STAR SEAFOOD CO. LTD. (Blue Snow Food Co, Ltd.), The Clover Leaf Seafoods Family, Nippon Suisan Kaisha, Ltd, Royal Greenland A/S, Cooke Aquaculture, Seacore Seafood Inc., and Omarsa S.A. Several other players are also functioning in the market worldwide, contributing significant revenue shares year on year.

Most of the market initiatives were observed in Asia Pacific, which have high potential of Organic Shrimp providers. A few of the important market initiatives and product developments from the industry are mentioned below:

Year News Region
2019 Cooke Inc., acquired the Seajoy Seafood Corporation group which is considered to be one of the largest vertically integrated and premium shrimp farms in Latin America. South America
2018 Nippon Suisan Kaisha, Ltd. announced that the company entered into an agreement with Seafarms Group Ltd. (SFG) to acquire 14.99% of its outstanding issued share by the issue of new shares for US$25 million. APAC
2018 Charoen Pokphands Foods PCL set up its prototype farm in Bangsrakao, Chantaburi, covering 60 000 square meters. The farm is designed to prevent external impacts such as disease carriers and global warming factors. APAC

 

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