Posted by Japan Shrimp Market Overview 2023-2028
IMARC Group, a leading market research company, has recently releases report titled “Japan shrimp market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the Japan shrimp market report, size, share trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
The Japan shrimp market is projected to exhibit a growth rate (CAGR) of 3% during 2023-2028. The associated benefits of consuming shrimp, increasing adoption of modern technologies to improve production efficiency, and rising government initiatives to support ethically sourced produce represent some of the key factors driving the market.
Shrimp is a small, decapod crustacean found in saltwater and freshwater environments. It is characterized by elongated body, thin shells, and set of gills and has slender bodies with segmented tails and long antennae. It is available in various colors, including white, pink, brown, and transparent, depending on the species and habitat. It is generally omnivorous and inhabits diverse ecosystems, including oceans, rivers, and lakes. It is enriched with protein, vitamins, and minerals and low in fat, which makes it a nutritious dietary choice. Besides this, its shells contain chitosan, which aids in wound healing and drug delivery. It helps maintain marine ecosystems by serving as prey for numerous species and contributing to nutrient cycling. It can be boiled, fried, and grilled and is used in preparing soups, salads, stews, and various other dishes. Moreover, its by-products are utilized in various industries for the extraction of valuable compounds like chitin.
Japan Shrimp Market Trends and Drivers:
The rising awareness among individuals about the nutritional benefits of seafood like shrimp represents one of the key factors positively influencing the market in Japan. In addition, the growth of the tourism industry and the expansion of hotels and restaurants in the country are offering a favorable market outlook. Besides this, the introduction of ready-to-cook and value-added shrimp products is catering to the busy lifestyle of Japanese consumers. The high disposable income of people is allowing them to spend on premium seafood. Furthermore, the growing emphasis on sustainable shrimp farming practices to ensure responsible production is positively influencing the market in the country. Moreover, innovations in shrimp farming techniques, including temperature control and water quality management are enabling better yield, which is propelling the market growth. Apart from this, the robust trading relationships of Japan with other countries are providing lucrative export opportunities. In addition, favorable government policies in the form of subsidies offered to shrimp farmers for facilitating production is creating a positive outlook for the market in the country. The continuous support from regulatory bodies are also ensuring that the market thrives in a conducive environment. Furthermore, the expansion of supermarkets, hypermarkets, and specialty seafood stores is offering consumers easy access to fresh and processed shrimp, which is resulting in increasing sales of shrimp in Japan. Moreover, investments in cold storage and transportation are improving the shrimp supply chain and offering efficient quality preservation and timely distribution, which is contributing to the growth of the market.
The report segmented the market on the basis of region, species, shrimp size, and distribution channel.
Species Insights:
- Penaeus Vannamei
- Penaeus Monodon
- Macrobrachium Rosenbergii
- Others
Shrimp Size Insights:
- <21
- 21-25
- 26-30
- 31-40
- 41-50
- 51-60
- 61-70
- >70
Distribution Channel Insights:
- Hypermarkets and Supermarkets
- Convenience Stores
- Hotels and Restaurants
- Online Sales
- Others
Regional Insights:
- Kanto Region
- Kinki Region
- Central/ Chubu Region
- Kyushu-Okinawa Region
- Tohoku Region
- Chugoku Region
- Hokkaido Region
- Shikoku Region
Key highlights of the report:
- Market Performance (2017-2022)
- Market Outlook (2023- 2028)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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