Executive Summary

The global prawn market is poised for significant growth in the coming years, driven by increasing consumer demand, rising health consciousness, and the expanding culinary versatility of prawns. This report provides a comprehensive analysis of market trends, forecasts, and the competitive landscape of leading global prawn brands for the year 2025.

Market Overview

The global prawn market was valued at approximately USD 35 billion in 2020 and is projected to reach around USD 45 billion by 2025, growing at a CAGR of 5.2%. This growth is attributed to factors such as rising disposable incomes, increasing urbanization, and growing awareness of the health benefits associated with seafood consumption.

Market Segmentation

The global prawn market can be segmented by type, distribution channel, and region.

By Type

1. **Farmed Prawns**: This segment dominates the market, accounting for approximately 60% of the total prawn production. The increasing adoption of aquaculture practices has led to a rise in farmed prawn availability.

2. **Wild-Caught Prawns**: Although this segment has seen a decline in market share, it still holds a significant portion, accounting for around 40% of the market. Environmental concerns and regulations are driving the need for sustainable fishing practices.

By Distribution Channel

1. **Retail**: This segment includes supermarkets, hypermarkets, and specialty stores, contributing to about 70% of the global prawn sales.

2. **Foodservice**: Restaurants and catering services are increasingly sourcing prawns, accounting for approximately 30% of market sales.

By Region

1. **North America**: The largest market, valued at USD 13 billion in 2020, driven by high seafood consumption and a preference for premium products.

2. **Asia-Pacific**: Expected to witness the highest growth rate, projected to reach USD 20 billion by 2025, fueled by increasing demand from countries like China and India.

3. **Europe**: Valued at around USD 10 billion in 2020, with trends leaning towards sustainable and responsibly sourced seafood.

Key Market Trends

1. **Health and Wellness**: Prawns are rich in protein, low in calories, and contain essential vitamins and minerals. This has contributed to their rising popularity among health-conscious consumers.

2. **Sustainability**: There is a growing trend towards sustainably sourced prawns, with consumers increasingly seeking certifications such as the Marine Stewardship Council (MSC).

3. **E-commerce Growth**: The rise of online grocery shopping has expanded access to prawns, with sales through e-commerce channels expected to grow by over 20% by 2025.

Competitive Landscape

The global prawn market is characterized by the presence of several key players, including:

1. **Thai Union Group**: A leading player in the seafood industry, Thai Union operates globally with a strong portfolio of prawn products and a commitment to sustainability.

2. **Maruha Nichiro Corporation**: This Japanese company is known for its extensive range of seafood products, including prawns, and focuses on quality and sustainability.

3. **Mowi ASA**: Based in Norway, Mowi is a major seafood producer with a growing presence in the prawn market, emphasizing responsible aquaculture practices.

Market Challenges

1. **Environmental Concerns**: Overfishing and habitat destruction pose significant threats to wild prawn populations, necessitating stricter regulations and sustainable practices.

2. **Disease Outbreaks**: Farmed prawns are susceptible to diseases that can impact production and supply, highlighting the need for improved biosecurity measures.

3. **Price Fluctuations**: The prawn market is subject to price volatility due to factors such as supply chain disruptions and changes in consumer demand.

Future Outlook

The global prawn market is expected to continue its upward trajectory, with a projected CAGR of 5.2% from 2021 to 2025. Key drivers of this growth will include:

1. **Increased Production**: Advances in aquaculture technology are expected to enhance prawn production efficiency and sustainability.

2. **Emerging Markets**: Countries in the Asia-Pacific region will likely lead growth, driven by rising incomes and changing dietary preferences.

3. **Innovation in Product Offerings**: The introduction of value-added prawn products, such as ready-to-cook meals and processed items, will attract a broader consumer base.

Conclusion

The global prawn market is at a pivotal point, with substantial growth opportunities on the horizon. Stakeholders must navigate challenges related to sustainability and environmental impact while capitalizing on the increasing consumer interest in health and wellness. Emphasizing ethical sourcing and innovative product development will be essential for brands to thrive in this evolving landscape.

[Read More: Global Prawn Production and Supply to Consumption Value Chain: Trends, Challenges, and Opportunities]