In 2023, Italy's whole frozen blue and red shrimp production in capture fisheries was valued at an estimated figure that was expected to start from the forecast in 2024. From 2024, there's a projected increase each year, indicating a consistent upward trend in this market. The year-on-year growth rate shows modest increases of around 2.5% annually, reflecting stable yet gradual growth. Over a forecast period from 2024 to 2028, the compound annual growth rate (CAGR) is anticipated at approximately 2.4%, signifying ongoing expansion in the shrimp market.
Future trends to watch for include:
- Sustainability practices, which could impact production costs and market competitiveness.
- Technological advancements in fishing and processing, potentially increasing production efficiency.
- Market demand shifts potentially driven by consumer preferences toward seafood consumption.
