Industry Overview

World shrimp aquaculture production is mainly dominated by eight countries, namely the PRC, Thailand, Vietnam, Indonesia, India, Brazil, Ecuador and Mexico. The key component of their success is geographical, with each country having tropical climates, long coastlines, and extensive areas suitable for shrimp pond development. The growth of aquaculture for high value species such as shrimp, sea bass, sea bream, and salmon has had a significant impact on international seafood trade sales volumes. One of the most significant aquaculture products is the marine shrimp. 

Total shrimp production has grown significantly worldwide since 1997. Prior to shrimp aquaculture development, wild catch shrimp was the only source of shrimp production. Shrimp was largely considered a luxury product in international markets, and its demand largely depended on the respective market’s economic climate. Development of shrimp aquaculture has been the main reason for the increase of the shrimp trade and consumption. In 1997, total production of aquaculture shrimp was 0.95 million MT, while in 2004 this production exceeded 1.8 million MT, resulting in a compounded annual growth rate of 9.8 per cent over this period. 

Shrimp aquaculture production only started in the early 1980s and the industry is still in its early stages of development. Shrimp aquaculture accounted for 37.9 per cent of total shrimp production of 4.84 million MT in 2004. 

As a result of the development of shrimp aquaculture, it has become possible to produce large quantities of consistent quality shrimp. As compared to wild catch shrimp, aquaculture shrimp are generally regarded as safer for human consumption. Aquaculture shrimp can also be produced more economically than wild catch shrimp due to improvements in farming technology.