White shrimp is highly demanded by the consumer because of its nutritional properties and low price. Shrimp have many health benefits like improved bone, brain health, and weight management. Shrimp has anti-aging and anti-inflammatory properties that reduce the risk of health infirmities. It is highly beneficial for the overall health of the consumer. It also provides relief from menstrual pain and eye fatigue. Shrimp are of different forms like canned, breaded, peeled, and shell-on. Shrimps are preferred by hotels, individuals, and the pharmaceutical industry. Shrimp is a rich source of minerals, protein and has low calories. Surge in the consumption of seafood products can be the factor that drives the growth of the global white shrimp market.
COVID-19 Scenario Analysis:
The seafood industry has adversely affected by the COVID-19 pandemic.
The demand for seafood has gravely decreased due to COVID-19.
People are shifting toward vegan products due to diseases caused because of the consumption of seafood.
The supply has also disrupted because people are staying in their homes.
The travel and trade restriction has also affected the logistic network.
The lack of workers and the migration of workers has disrupted the distribution channel.
With the downfall in the seafood business, the global market and the economy are also affected and caused economic crises.
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Top Impacting Factors: Market Scenario Analysis, Trends, Drivers and Impact Analysis
There is an increase in the demand for shrimps because of its nutritional properties. Rise in awareness about healthy food and a shift in consumer preferences toward healthier food products can be the factor that supports the growth of the global market. Surge in deficiency among people due to proper diet and increase in income can be the factor that contributes toward the growth of the global market. However, rise in viral infectious diseases due to the consumption of seafood and the growth of the vegan product market can be a threat to the global market. Even so, a new development in technology, the launch of new products, and the availability of high-quality shrimps can create an opportunity for the global market.
The global white shrimp market trends are as follows:
The government has set some standards for the export of shrimps which the companies have to follow to ensure quality and proper standard of the white shrimps.
The companies are making strategies to establish a strong foot in the global market through investment, collaboration, mergers, and acquisitions.
The companies are also making plans to diversify their product portfolio to increase their profit and reducing the cost of production.
The companies are ensuring that the packaging of the product can be recyclable, and reusable. They are focusing on keeping the environment clean and safe.
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Questions Answered in the White Shrimp Market Research Report:
What are the leading market players active in the white shrimp market?
What the current trends will influence the market in the next few years?
What are the driving factors, restraints, and opportunities in the market?
What future projections would help in taking further strategic steps?
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Key Players: Zhanjiang Guolian, Nekkanti Sea Foods, ProExpo, Royal Greenland A/S, The Liberty Group, Devi Fisheries, Thai Union, Omarsa, Pescanova, Quoc Viet.
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