Abstract Pacific white shrimp ( Litopenaeus vannamei ), the most cultured crustacean in the world, has become one of the key species in the international aquatic trade accounting for 11.96% of the total aquaculture production value in 2020. The development of the aquafeed industry, especially the large‐scale use of fish meal (FM) and fish oil, contributed to promoting the expansion of shrimp production. However, the supply of FM has fluctuated at about 5 million tons per year affected by the El Nino during the last decades. This finite supply in combination with continued demand contributes to high prices, prompting the development and use of alternative protein sources. This review contributes to the development of appropriate FM replacement strategies in shrimp feed and summarises the status of research on alternative protein sources, including plant, animal and single‐cell proteins in commercial feeds for Pacific white shrimp. Furthermore, several key aspects of nutritional balances were mentioned including amino acid profiles, fatty acid nutrients and trace elements in low FM diets as well as some easily overlooked concepts that deserve attention such as epigenetics, feed processing characteristics, animal growth stages, and shrimp species improvement. Also, the prospects of future research are proposed including the application of advanced technologies (16S rRNA sequencing, transcriptomics, proteomics and metabolomics), developments in the new feed additives, along with the optimisation of new protein sources and the establishment of a precise nutritional programming for shrimp.