Summary of our market study

The global shrimp market has seen an upward trend in production and demand, with aquaculture accounting for over 60% of global shrimp production. Despite facing the challenges of the COVID-19 health crisis, Spain's shrimp market showed resilience, with a full recovery expected in 2021, indicating a sharp recovery from the pre-crisis situation. By 2023, shrimp consumers are increasingly focused on hygiene measures and environmental sustainability in production and fishing. In Spain, shrimp fishing continued to grow in value, reaching €147.8 million in 2021, and Spain ranked as the world's 9th largest shrimp exporter in the same year.

Shrimp imports and exports in Spain reached €1,337 million and €426 million, respectively, in 2021. However, in 2022, there was a noticeable decline of 12% and 11% in imports and exports, respectively. The primary shrimp production regions in Spain are the Mediterranean and the Eastern Central Atlantic, with shrimp being one of the most expensive seafood, averaging €11.49 per kilo. Distribution channels are concentrated in supermarkets, fishmongers, and hypermarkets, with a significant share of frozen shrimp sales.

Shrimp Consumption in Spain: A Resilient Market with Growing Demand

Spain has a long-standing cultural affinity for seafood, and shrimp is particularly favored among its citizens, making it the top shellfish choice in the country. The latest figures point to an upward trend in shrimp consumption, with Spaniards consuming approximately 90 million kilograms in 2021, marking a 7% rise over two years. This resilience is noteworthy, especially considering the minimal impact of the health crisis on consumption patterns. Per capita, the average Spaniard consumes nearly 2 kilograms of shrimp annually, showcasing a robust demand for this seafood. Interestingly, while there's been a notable decline in the consumption of cold-water shrimp in favor of warm or tropical varieties, canned shellfish consumption has seen a downward slope, with the average person consuming between 6 and 7 kilograms per year in 2021. Despite these shifts, shrimp remains the most consumed shellfish in Spain, surpassing squid, mussels, and clams, which suggests that consumer preferences are leaning towards fresh or frozen shrimp options. Mapping out Spain's geographical consumption landscape, it is evident that communities with coastal access like Andalusia, Catalonia, Valencia, and Galicia lead in seafood intake.

Moreover, there is a correlation between a community's wealth and its seafood consumption levels, with Madrid emerging as one of the highest shrimp-consuming regions. The unwavering demand for shrimp in Spain can be attributed to its recognized health benefits, as shrimp is known for being a high-protein, low-fat, and low-calorie food source that is also rich in vital nutrients. Such dietary advantages are driving consumers towards shrimp as an alternative to other protein-rich foods. Within Spain's market framework, the Mediterranean region is the dominant catch area, accounting for 32% of the total shrimp catches by weight in 2021. However, the industry has been contending with challenges such as an aging fleet and a decline in the number of vessels and jobs, emphasizing a need for revitalization to maintain shrimp supply. In terms of market structure, companies like Nueva Pescanova lead the way, posting sales figures in the ballpark of 1 billion euros. This highlights a concentrated and competitive market, with a few key players dominating sales and production operations. On the price front, shrimps and langoustines are among the pricier seafood options in Spain, fetching an average of around 11 euros per kilogram, albeit with significant fluctuations based on season and type.

Key Players in the Spanish Shrimp Market Landscape

Navigating the vibrant waters of the Spanish shrimp market, we encounter several notable entities that have cast their nets wide, establishing themselves as integral parts of the industry. These companies have diversified their offerings to cater to the growing demand for shrimp across Spain, bringing both fresh and frozen crustaceans to the tables of seafood aficionados.

Nueva Pescanova stands tall as a titan among the ranks, with a global footprint that has made it a household name in the seafood domain. Their expertise encompasses the entire spectrum of seafood processing, from the nurturing pools of aquaculture to the expansive depths of the ocean.
Grupo Ibérica de Congelado freezes time with their virtuosity in preserving the ocean's bounty. They have mastered the art of flash-freezing seafood, locking in freshness and flavor that is unrivaled, catered to both end consumers and bustling kitchens of the foodservice industry.
Grupo Profand holds its anchor deeply rooted in the history and tradition of Spanish seafood. With an array of offerings that span across various fish and seafood products, they've built a bridge between the old ways of local fishing and the modern dynamics of international distribution.
Jealsa Corporation, synonymous with the art of canning, tells a story with every tin they seal. With longevity and convenience at its core, their delectable canned shrimp creations have traversed the globe, gracing the pantries of those who covet the taste of the ocean in its most enduring form.
Congalsa, like a sculptor with ice, brings an element of creativity to the frozen seafood sector. Their range of enthralling shrimp products stand as frozen sentinels, ready to awaken at the call of the culinary muse.
La Sirena strides as a behemoth in the frozen food supermarket landscape, providing an odyssey through their aisles where one can find a trove of sea treasures, including an array of shrimps that promise convenience without compromising on taste.
Lastly, Iglo, with its globally recognized brand, paints a picture of the ocean's offerings through its selection of frozen fish products. Shrimp from Iglo is more than just food; it's an expression of the company's commitment to quality and sustainability, inviting consumers on a journey of responsible indulgence.

Together, these players create a mosaic of the Spanish shrimp market, each contributing its distinct flavors and strengths, bonding over a shared love for the sea’s cherished crustaceans.

The shrimp market - Spain

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Last update : 04/04/2023

Summary and extracts

1 Market overview

1.1 Definition and presentation

A distinction can be made between small shrimps of between 3 and 5 cm, known as "camarones", shrimps of between 5 and 10 cm, known as "gambas", and those of over 12 cm, known as "langostinas". In the Mediterranean, shrimp are mainly represented by three species: the red shrimp, the purple shrimp and the white shrimp. These are certainly the most economically important species.

Global shrimp catches have increased dramatically over the last decade, due to the spread of more massive and efficient "industrial" fisheries. Between 2010 and 2019, they increased by 74%. The production method most widely used in this market is aquaculture. This method often involves family farms producing shrimp and selling it to local wholesalers, who then distribute it internationally. Today, aquaculture accounts for over 60% of the world's shrimp production, but only a small proportion of Spanish production. According to the European Commission, per capita shrimp consumption in Europe is 1.56 kilos per year.

In Spain, the shrimp market was ultimately little affected by the health crisis, with full recovery expected in 2021, up sharply on the pre-crisis situation. By 2023, shrimp consumers are calling for stricter hygiene measures and greater respect for the environment in shrimp production and fishing.

2 Demand analysis

3 Market structure

4 Offer analysis

5 Regulations

6 Positioning the players

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