Industry Background:
Shrimp Balls also called as prawn balls are common food dish prepared all over Eastern Asia. It is considered an appetizer or snack which is made up of as the name suggests from shrimp meat. The product is crispier on the outside and meaty on the inside. Shrimp Balls don’t have any clear origin but it is normally considered China to be origin of Shrimp balls. The shrimp balls can be made up of variety of shrimps such as white shrimp or more luxurious pink shrimp or any other popularly found shrimps. Geographically, Asia Pacific is the biggest market of Shrimp balls, primarily China.This growth is primarily driven by Increase in Disposable Income
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Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Forecast Period | 2023-2028 |
Volume Unit | K Tons |
Value Unit | USD (Million) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
The Food Products sector in the
region has been increasing at a sustainable rate and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Vendors, such as Thai Union Group (Thailand), I.T. Foods Industries Co., Ltd. (Thailand), Maruha Nichiro Corporation (Japan), Starfish Co., Ltd. (Thailand), Kyokuyo Co., Ltd. (Japan), Kenko Food Sdn Bhd (Malaysia), Nippon Suisan Kaisha (Japan), Fresh Fish Del Ecuador Cia. Ltda. (Ecuador), Kim Sea Food Products (Philippines) and P.T. Foods Processing Co. Ltd. (Thailand), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
In 2019, Cooke Aquaculture Inc., Canadian market leader in Seafood has announced completion of acquisition of Seajoy Seafood Corp. group which is US based vertically integrated company, specialising in premium shrimp harvesting in Latin America. The acquisition is made to diversify the product portfolio, as Seajoy masters the art of harvesting premium shrimps, which will further help Cooke Aquaculture to expand its market outside North America.
In 2021, Maruha Nichiro Corporation, Japan based Global Seafood Giant has announced acquisition of Vietnam based Sai Gon Foods. Sai Gon Foods, has several sea food processing facilities in Vietnam along with other assets. The acquisition of Sai Gon will strengthen Maruha Nichiro as global processor and manufacturer of sea food products.
Influencing Trend:
White and Pink Shrimps Account for Largest Market Share
Market Growth Drivers:
Increase in Disposable Income, Higher Investments in Shrimp Farming facilities and Change in Lifestyle and Dietary Choices
Challenges:
Stability in Raw Materials or Shrimp Supply Chain to Provide Fresh Products to Consumers
Restraints:
Shrimp is Expensive to Other Meat Products
Opportunities:
Asia Pacific and North America Presents Highest Opportunity Because of Large Population in the Region and High Consumption of Shrimps
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mainly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Vendors landscape impacting the market's growth. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Data Sources of Shrimp Balls Market Study
Primary Collection: InMail, LinkedIn Groups, Survey Monkey, Google, and Other professional Forums are some of the mediums utilized to gather primary data through key industry participants and appointees, subject-matter experts, C-level executives of Shrimp Balls Industry, among others including independent industry consultants, experts, to obtain and verify critical qualitative commentary and opinion and quantitative statistics, to assess future market prospects.
The primary interviews and data collected as per the below protocols:
By Designation: C-Level, D-Level, Others
By Company Type: Tier 1, Tier 2, Tier 3
Secondary Data Sources such as Annual reports, Press releases, Analyst meetings, Conference calls, Investor presentations, Management statements, and SEC filings of Shrimp Balls players along with Regulatory Sites, Association, World bank, etc were used as sources secondary set of data.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, Shrimp Balls Study Sheds Light on
The Shrimp Balls Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Shrimp Balls industry Vendors. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Shrimp Balls industry is heading and what are the top priorities. Insights are drawn from financial analysis, surveys, and interviews with key executives and industry experts.
How every company in this diverse set of Vendors can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.