The shrimp market - Italy (2023)

1.2 The global shrimp market

The global shrimp market size has been estimated at $**.** billion in **** and is expected to grow at a compound annual growth rate(***) and is perceived as a healthier option.

Global shrimp market trends World, **** - ****, US$ billion Grand View Research the global seafood market is highly dynamic and diverse, encompassing an extensive variety of aquatic products from both wild fisheries andaquaculture. The seafood market offers a wide range of products:

fish shrimps crabs lobsters shellfish (***) etc These products are consumed fresh, frozen, canned or processed in various value-added forms. Regionally, Asia represents the largest consumer of seafood products in the world, both purely due to demographics and cultural preferences for seafood products. According to The State of World Fisheries and Aquaculture **** study published by FAO, there has been a significant increase in the consumption of these products since ****, registering a steady annual growth rate of * percent (***) in global trade, which have a higher production capacity.[***] Ecuador's role in the market, **** In ****, a new player dominated the global market in this sector, being on the verge of closing **** with *.* million tons of shrimp exported, a ** percent growth over ****: Ecuador. Production in the country has grown ** times since the turn of the century, ...

1.3 The Italian shrimp market

During ****, the volume of first sales in the Italian seafood sector stood at ** thousand tons, registering a decrease of *.* percent compared to **** and confirming the trend in place since ****. This is due to the reduced availability of the product (***) for a total value of *** million euros.

The shrimp market includes:

white (***) shrimp red shrimp purple shrimp shrimp shrimp (***)

Comparing the composition of catches by fish species fished in ****, it can be seen that the rise in volumes is mainly attributable to an increase in mullet fishing (***).

[***]

Evaluating specifically the sold production of crustaceans (***) in the Istat database, it can be seen that in **** there was a decisive growth in sales of about **.* percent compared to the previous year.

Crustacean production sold Italy, ****-****, in m.ia of € Istat

1.4 Shrimp imports and exports

Analyzing the totality of the size of the seafood sector, it can be seen that from the point of view of exportations there are widespread declines, especially in the categories: fresh fish, edible fish, dried, salted or pickled fish, and shellfish. Overall, the value of exported seafood products declined by * percent, a decline driven mainly by the recorded drop in value (***).

Dwelling on the crustacean and shrimp segment, it can be seen that the value of imports is significantly higher than that of exports. Specifically, it can be seen that imports recorded a slight decrease from **** to **** of *.** percent, then rose again in **** by **.* percent and recorded a slight decrease again in **** by **.* percent.

Exports, Imports, and Shellfish and Shrimp Coverage Rate Italy, ****-****, US$ million UNComtrade

The main shrimp consuming countries from Italy are Spain (***).

Main shrimp consuming countries Italy, ****, % UNComtrade As for the main countries of origin, Ecuador and Argentina (***). Main shrimp supplying countries Italy, ****, % UNComtrade

1.5 Impact of the COVID-19 crisis

The General Fisheries Commission for the Mediterranean has produced an analysis of the impact of the Covid-** pandemic on the European fishing industry. According to the following report, the crisis immediately led to a drop in demand from wholesalers; in addition, the closure of export markets and the hotel and restaurant sector and, in general, the decline in tourism explain this decisive drop in demand.

Although there has been an increase in demand on the domestic consumption side, this has not been enough to cover the decline in overall demand, especially in all those countries that, like Italy, have suffered from long-term closures and restrictions. In this regard, it is noted that uncertain market conditions persisted in May and June, due to both demand trends and changes on the supply side as well, such as the creation of large production surpluses during the closure period of the aquaculture and seafood, fish and shellfish processing sector.[***]

As can be seen from the graph below, industrial production recovered fairly quickly after the first freeze, until uncertainty stemming from the global pandemic situation caused a second drop in August.

Industrial production trends: fish and seafood processing Italy, ****, Index ****=*** Source: ****

2.1 Demand in Italy

In order to analyze the demand for shrimp in Italy, average annual household expenditure, monthly expenditure by employment status, and weekly fish consumption are considered.

Average annual expenditure

Between **** and ****, the average annual expenditure of Italian households on seafood (***), the trend shows a positive trend throughout the period. The increase in household spending is justified by both the increased propensity to consume healthy foods and the increase in consumer prices for food products, especially in the post-**** period.

Average annual household expenditure on fresh, frozen, dried smoked or salted seafood Italy, ****-****, in euros/month Istat

Employment status

Regarding the average monthly expenditure on the basis of employment status, from the graph below it is possible to appreciate how entrepreneurs and freelancers present, in economic terms, the highest expenditure in Italy. In ****, the average monthly expenditure of this category of households stands at just under ** euros. This is followed by the employee category (***). On the other hand, at the bottom of the ranking are those who have retired from work, with an average monthly expenditure of just over ** euros. Average monthly household expenditure on fish other seafood, breakdown by employment status Italy, ****, euros/month Istat Food habits Finally, considering the eating ...

2.2 Demand drivers in the shrimp market

The shrimp market is driven by a number of factors that have increased demand and production in recent years. The main drivers of demand are the health benefits of shrimp, the adoption of new environmentally friendly production techniques, and the convenience of this type of fish compared to other protein-rich foods.

Health benefits

Shrimp are becoming increasingly popular with consumers because of their high nutritional value and low-fat protein content. They contain no carbohydrates and are extremely low in calories. One calorie is roughly equivalent to one gram of shrimp. Shrimp are also rich in minerals and vitamins such as iron, calcium, salt, phosphorus, zinc, magnesium, potassium, and many others.

Shrimp help prevent a large number of diseases. They help prevent hair loss, maintain healthy bones, improve cognitive performance, reduce menstrual cramps, eliminate bad cholesterol, and reduce the risk of lung and prostate cancer. They are also a good source of protein and vitamin D without adding carbohydrates to the daily diet, making them a popular choice for people trying to lose weight. The high zinc content of shrimp is also helpful, as zinc is a means of increasing leptin levels in the body, which regulates fat storage, hunger, and overall ...

2.3 Geographical distribution of demand

In order to highlight the geographical distribution of demand, a map was created with the average monthly expenditure of Italian households on fish and other seafood.

Southern households have the highest average monthly expenditure in the peninsula, with a value of **.** euros per month. Spending more than ** euros per month, they are followed by households in the Islands (***). Finally, households in the Northeast and Northwest spend **.** euros per month and **.* euros per month, respectively.

MACROREGION AVERAGE MONTHLY EXPENDITURE (***) South **.** Islands **.** Center **.** Northeast **.** Northwest **.*

3.1 Market structure and dynamics

Analyzing the macrosector of the fish market, it can be seen that in recent years there has been a steady growth in active fish farms, with an increase of almost ** percent from **** to ****, from *,*** to *,*** units, all falling under the activities that fall under the definition of aquaculture. From the data proposed by BMTI (***) is particularly concentrated due to favorable climatic conditions, which allow the ideal biological needs of the species raised to be met. In southern Italy, on the other hand, the number of sea cage farms is increasing.

Number of fish farms in Italy Italy, ****-****, number of units BMTI

From the point of view of the composition of farms according to the species raised, there is a preponderance of shellfish farms (***). Compared with ** years ago, there has been a decline of about * percentage points in shellfish farms in favor of crustacean farms.

Distribution of farms by species reared Italy, ****, % BMTI Taking a closer look at the crustacean sector, it is possible to know the number of enterprises active in the processing and preservation of crustaceans, fish and shellfish; since Italy is a country highly dependent on imports of the product (***), there are no specific enterprises for this segment. So, ...

3.2 Value Chain

The value chain in the market under consideration is proposed below:

catching oraquaculture: the chain starts with catching shrimp at sea or raising them; processing: captured shrimp are processed and prepared for consumption. This stage included: shucking, cleaning and cooking of shrimp; distribution: the processed shrimp are then distributed to different sales channels, such as supermarkets, restaurants and fish markets; consumer sales: the shrimp are, finally, sold to the final consumer through retail stores or served in restaurants.

3.3 Shrimp distribution channels

The shrimp market is highly dependent on the retail trade, in fact about** percent of production reaches final consumers through supermarkets and other specialty stores. However, within non-domestic consumption (***). Since more recent data are not available, the analysis is performed on **** data, the latest recent data.

Sales of unprocessed seafood products, by distribution channel Italy, ****, % of total volume EUMOFA

During ****, as a result of the Covid-** pandemic and restrictive measures taken by national governments, the relative importance of retail increased significantly compared to ****. In ****, with gradual reopenings, the share of sales in the restaurant sector increased, especially in Germany.

Comparing Italian distribution channels with those in Europe, it can be seen that Germany has the highest proportion of distribution to schools, canteens, prisons and hospitals. Sales of unprocessed seafood products by country (***) Italy, ****, % of total volume EUMOFA

3.4 Main actors

Aquaculture refers to the production of fish, crustaceans, mollusks and seaweed in confined environments entirely controlled by humans. The activity has ancient origins; in fact, the practice is believed to have spread about *,*** years ago in Australia, but its main moment of industrial expansion occurred in the ****s and ****s. Today, in Europe alone, aquaculture employs about **,*** people. [***]

there are two main types of aquaculture:

Extensive: based on the use of natural resources, it involves a very large rearing area, with ample space for the fish to feed completely naturally; Intensive: in this type of farming, the environment is totally dependent on human intervention, the density of fish is higher and the area is smaller.

Intensive aquaculture involves a number of risks to the ecosystem, starting with the substances released into the surrounding environment: bacteria, disinfectants, antibiotics, uneaten food, chemical dyes, pesticides and dirty water. The weaknesses of this type of production are numerous and have been highlighted by various animal protection associations over the years. Therefore, as the seafood industry is set to play an increasingly important role in the food production of the future, innovation must also play its part to give this sector an increasingly sustainable footprint

Key ...

4.1 Composition of the offer

Shrimp is a very popular product and accounts for ** percent in value of the national fish market. it is also one of the most diverse crustacean categories, as there are a multitude of shrimp species; the most common in Itakia are:

Purple shrimp, Parapenaeus longirostris. Available year-round, but with greater seasonality between November and June. It generally lives at great depths in all areas of the Mediterranean and also along the coasts of the Atlantic Ocean. It has a soft pink-orange color and is distinguished from other species by the presence of a characteristic "tooth" on the carapace. It grows to about **-** cm. Penaeus shrimp, Melicertus kerathurus The pink shrimp has a whitish to pinkish-gray coloration, alternating reddish-brown bands on the carapace and abdominal segments with dark spots. It has the same seasonality as the pink shrimp and is found in the Mediterranean and parts of the Atlantic coast. It has an eastern "relative," also known as the "tiger shrimp," Marsupenaeus japonicus, which has similar characteristics and can also be raised in our country. Both species reach a larger size than the pink shrimp, which can reach about ** cm. The Mazzancolla is a native Mediterranean species that is also called ...

4.2 The prices

The following are wholesale prices divided by market and area of origin for: Argentine shrimp, pink shrimp, and red shrimp. For the first category, the price is for the frozen product while for the other two it is for the fresh-caught product.

Argentine shrimp wholesale

Wholesale pink shrimp (***)

Wholesale red shrimp(***)

4.3 Laboratory-grown shrimp meat

A Korean startup CellMEAT has announced a world first: the development of a lab-grown Dokdo shrimp. Specifically, the product has been replicated in different sizes and shapes and is thought to be suitable for a wide range of uses and cooking. The shrimp were created using a whey-free cooking liquid, thus going on to create a natural product with no additional additives, to taste and smell similar to real shrimp. The main goal is to offer a product to be supplied on a large scale, which is simpler and more convenient. Currently, a team of five researchers is able to produce five kilograms per day. After tasting the prototype, Jimmy Sohn, CEO of TechnoPlus, said the texture and taste were able to meet and exceed his expectations in full. CellMeat acknowledged, however, obstacles to overcome before commercialization. First from a legislative standpoint: the Korean government has not yet approved a definition of cultured meat, meaning that production standards cannot be implemented. The government agrees with technology-based food systems[***]

Cultured meat, or lab-produced meat, is gaining attention as a sustainable alternative to traditional meat obtained from animals. Here are some of its key environmental implications:

Reduced environmental impact: Cultured meat production could ...

5.1 Regulations

Freshwater shrimps are part of the fish fauna and are included in the national and regional regulations governing fishing in inland waters; on October **, ****, the following executive decrees regarding "Provisions on target trawl fishing of red shrimp and purple shrimp" were published on the website of the Ministry of Agriculture, Food and Forestry:

D.D. No. ******* of **/*/**** on "Provisions on target fishing of red shrimp (***); D. No. ******* dated **/*/**** on "Provisions on target fishing for red shrimp (***)" D. No. ******* dated **/*/**** on "Provisions on target fishing for red shrimp (***)".

Generic regulations

For production and preservation, there are specific restrictions applicable to the production and preservation of seafood products, as outlined in EU Delegated Regulation ****/***. For the regulation of controls and authorized establishments, there is a requirement for authorization by establishments to be periodic. Controls are carried out both when the products arrive in Italy and by veterinary authorities and other official control bodies.[***]

The EU has established a set of rules governing the entire food production and processing chain, both for domestically produced shrimp and for imported and exported shrimp. EU countries implement these harmonized standards and establish controls to enforce them. The EU verifies the implementation and effectiveness of the laws and ...

5.2 labels

In general, sales labels for fresh crustaceans on fish counters-including those sold headless or processed in various ways-must indicate

the commercial name (***); the physical state (***). If omitted, it is understood that the product is fresh; the method of production: "caught" or "farmed." the origin, indicating the sea or ocean of production (***), while for farmed products the country where farming took place should be indicated; the category of fishing gear (***); any ingredients (***).

Fishermen and farmers who sell small quantities of their own produced shellfish are exempt from providing this information.[***]

6.1 Segmentation

• Iliopesca
• GIÓ MARE S.P.A.
• Rosso di Mazara
• Alemar
• FIORITAL GELO
• DINAQUA