The global shrimp paste market size was valued at USD 410.23 million in 2024 and is estimated to reach USD 595.09 million by 2033, growing at a CAGR of 4.22% during the forecast period (2025–2033). As global interest in ethnic and international cuisines increases, shrimp paste is gaining popularity outside of Southeast Asia. The growing demand for authentic Asian flavors, especially in North America and Europe, is propelling market growth.
Shrimp paste is a fermented condiment made fromground shrimp or krill that is typically mixed with salt and then fermented for varying periods. It is a staple in many Southeast Asian cuisines, including Thai, Vietnamese, Indonesian, and Filipino dishes. The paste is known for its strong, pungent odor and rich umami flavor, which enhances the taste ofsauces, soups, dips, and marinades.
Shrimp paste is usually sold in jars or wrapped in banana leaves, and it is available in different forms, such as smooth or chunky, depending on the region. The production process involves drying the shrimp, grinding it into a paste, and then fermenting it to develop its distinctive flavor. Despite its strong aroma, shrimp paste is a key ingredient for adding depth and complexity to a wide range of savory dishes.
Growing export and trade
One of the key drivers of the global shrimp paste market is the growing export and trade of shrimp paste from major producing countries. Nations such as Thailand, Vietnam, and Indonesia are well-known for producing high-quality shrimp paste, and they have significantly expanded their export activities in recent years.
For example, Thailand, one of the largest shrimp paste producers, exports millions of tons of shrimp paste annually. According to the Thai Trade Centre (2023), Thailand's shrimp paste exports grew by 5% in the past year due to rising interest in Southeast Asian cuisines. This surge in trade has been facilitated by e-commerce platforms and retail partnerships, making shrimp paste more accessible to consumers worldwide.
This export growth reflects the increasing globalization of culinary preferences and the expanding footprint of Asian food products globally.
Limited awareness in non-Asian markets
A significant restraint for the global shrimp paste market is the limited awareness in non-Asian markets. While shrimp paste is a staple ingredient in Southeast Asian cooking, it remains relatively unknown or misunderstood in many regions, especially in North America and Europe. The strong, pungent odor and distinct flavor profile of shrimp paste can deter potential consumers unfamiliar with its culinary uses.
Without adequate marketing and consumer education, many people in these regions may not fully appreciate its versatility in sauces, soups, and other dishes. Moreover, the lack of cultural exposure to shrimp paste limits its adoption in households outside of Southeast Asian communities, slowing its market growth in non-Asian countries.
Innovative product variants
The global shrimp paste market holds significant opportunities for innovative product variants. As consumer preferences evolve, especially among health-conscious buyers, there is growing demand for organic, low-sodium, or milder versions of shrimp paste. Offering such alternatives can help cater to a broader audience while maintaining the traditional essence of the product.
For instance, Thai companies like Chaokoh have introduced organic shrimp paste, tapping into the growing trend of organic food products, which has been gaining traction globally. Likewise, offering flavored shrimp paste products or pre-packaged versions designed for specific cuisines (e.g., Thai or Vietnamese) can help consumers use shrimp paste with ease and familiarity.
Moreover, companies are developing sustainably sourced shrimp paste, aligning with global trends in sustainability. These product variants open new market segments, particularly in Western markets, where consumers are seeking healthier and more versatile ingredients for diverse culinary applications.
| ATTRIBUTES | DETAILS |
|---|---|
| Study Period | 2021-2033 |
| Historical Year | 2021-2024 |
| Forecast Period | 2025-2033 |
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| By Packaging Type |
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| By Applications |
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| Regional Insights |
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Traditional shrimp paste dominates the global market due to its long-standing use in various Asian cuisines. Known for its robust flavor and aroma, it is primarily used in traditional dishes such as sauces, curries, and dips. The artisanal nature of traditional shrimp paste, often made through fermentation, appeals to consumers seeking authentic, handcrafted food ingredients. Its growing popularity in international markets, driven by the rise in ethnic cuisine consumption, continues to sustain its dominance. Despite competition from modern variants, traditional shrimp paste remains the go-to choice for consumers seeking rich, authentic flavors.
Plastic containers are the dominant packaging type in the shrimp paste market due to their cost-effectiveness, convenience, and widespread availability. These containers are lightweight, durable, and resistant to breakage, making them ideal for the packaging of shrimp paste, especially in large quantities. Plastic packaging also allows for easy sealing, extending the product’s shelf life and ensuring freshness. As consumer demand for affordable and accessible shrimp paste continues to rise, plastic containers remain the preferred choice for both retail and bulk packaging in the food industry.
The food and beverages sector is the dominant application for shrimp paste, as it remains a key ingredient in various cuisines worldwide, particularly in Southeast Asia. Used to enhance flavor profiles in sauces, soups, marinades, and dips, shrimp paste adds depth and umami to dishes. The growing trend of ethnic and international cuisine adoption across global markets drives the demand for shrimp paste in food production. As consumers become more adventurous with their taste preferences, the food and beverage industry will continue to be the largest consumer of shrimp paste.
The Asia-Pacific region remains the dominant market for shrimp paste, primarily due to its rich culinary traditions and large-scale production. Countries like Thailand, Vietnam, and Indonesia are the key producers of shrimp paste, which is a vital ingredient in many traditional Southeast Asian dishes. These countries not only consume large amounts of shrimp paste but also export significant quantities to global markets.
Moreover, the growing middle class in emerging economies like India, China, and the Philippines is driving increased demand for shrimp paste as they explore diverse and authentic flavors. The popularity of Southeast Asian cuisine is also rising globally, further boosting demand for shrimp paste from the region. As a result, Asia-Pacific's dominance in both the production and consumption of shrimp paste is expected to continue, with its expanding export markets further solidifying the region’s leadership.
