Shrimp Powder Market : Worldwide Industry Analysis and New Market Opportunities Explored 2018 – 2026
The demand for flavoring agents has been increasing among consumers over the past years due to their wide utilities in the food processing industries as well as domestic cooking. Shrimp powder is one such flavoring agent which improvises the flavor and texture of various food products. Shrimp powder is generally prepared by grounding sundried shrimps with little salt and sugar. Shrimp powder is used in the preparation of extruded snacks, baby food, breakfast cereals, rice, soups, pasta, etc.
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The use of seafood flavors such as shrimp powder, in cereal-based food products, is gaining popularity over the years, as these flavors give a mixed taste. Such flavored products with shrimp powder are not just tasty and tempting, but also highly nutritious as shrimp powder contains an adequate concentration of protein. Along with protein, shrimp powder also contains an excellent amount of minerals and calcium which is driving the demand for shrimp powder across the world. Hence, it can be anticipated that the demand for shrimp powder will increase significantly during the forecast period.
There is a huge demand for shrimp powder and processed shrimp powder extract in recent years due to the changing consumer preference for chemical-free ingredients. Due to the presence of a high concentration of protein and minerals, shrimp powder is used as a protein ingredient in various processed food items. As shrimp powder is translucent, it is also used as gelatin in flavored and non-flavored food products. Along with applications in food industries, shrimp powder also finds wide applications in the aquafeed industries. Shrimp powder is used as a binding agent and protein source in aquafeed products such as shrimp meal.
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As shrimp powder is rich in essential micronutrients, it ensures healthier bones and skin development in fishes, especially African catfish and Ballan wrasse. Shrimp powder has various health benefits which include anti-aging properties for skin. This factor is intensifying its opportunities in cosmetic products. Due to the wide applications of shrimp powder, there is a considerable development in the infrastructure of the supply chain. It is anticipated that the growth of the global shrimp powder market would remain positive during the forecast period.