There are hundreds of squid species, which can be divided into two broad classifications — warm-water shrimp and cold-water shrimp. The colder the water yields the smaller and more succulent. Though there are slight differences in texture and flavor. Many forms of shrimp are found in the marketplace — with shell or peeled, raw or cooked and fresh or frozen. There are also processed shrimp products such as breaded or stuffed, frozen shrimp, shrimp spread, dried shrimp and shrimp paste.