Shepshed is a market town and civil parish in the Charnwood Borough of Leicestershire, England with a population of 14,875 at the 2021 cens…Shepshed is a market town and civil parish in the Charnwood Borough of Leicestershire, England with a population of 14,875 at the 2021 census. It is the second biggest settlement in the borough, after the town of Loughborough.