The latest research study “Aquaculture Industry in India: Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027” by IMARC Group, finds that the India aquaculture market reached a volume of 11.40 Million Tons in 2021. Looking forward, IMARC Group expects the market to reach 18.40 Million Tons by 2027, exhibiting a CAGR of 8.20% during 2022-2027.
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Aquaculture, or aquafarming, is a controlled process of breeding, rearing, harvesting, and cultivating algae, fish, shellfish, and other aquatic organisms. It can be performed in artificial facilities constructed on well-sheltered shallow water bodies or ponds, raceways, fish tanks, and aquaponic systems. It also involves producing ornamental fish to support both commercial and recreational fisheries. Since India is traditionally a freshwater aquaculture country with a vast coastal area, it offers lucrative opportunities for aquaculture in marine and inland waters. As a result, aquaculture is gaining immense traction in India.
COVID-19Impact on Market: As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviors of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
India Aquaculture Market Trends and Drivers:
The India aquaculture market is primarily driven by the rising consumption of fish due to shifting consumer preferences from high-calorie meat products toward a protein-rich diet, including fish, shrimps, and mollusks. Moreover, the increasing number of foodborne diseases caused due to microorganisms found in conventionally cultured fish is positively influencing the demand for organic variants.
Additionally, the government of India is taking favorable initiatives such as Pradhan Mantri Matsya Sampada Yojana to reduce infrastructural gaps in the fisheries sector and establish a comprehensive framework. In line with this, the increasing number of processing plants, hatcheries, and feed mills has catalyzed market growth. Furthermore, the surging adoption of sustainable cultivation techniques that aim to reduce pollution while preserving the ecosystem and biodiversity is another major growth-inducing factor.
Other factors, including the rising awareness regarding various health benefits of fish, escalating demand for aquaculture products, and increasing awareness programs to educate fish farmers, are also anticipated to drive the market further.
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India Aquaculture Market 2022-2027 Analysis and Segmentation:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
Nekkanti Seafoods, Avanti Frozen Foods Private Limited (AVANTI FEEDS LIMITED), Devi Sea Foods Limited, Sandhya Marines, Apex Frozen Foods Limited, IFB Agro Industries Limited, SSF Limited, Kings Infra Ventures Limited, The Waterbase Limited, Kader Exports Private Limited, Zeal Aqua Limited, CP Aquaculture (India) Private Limited (Charoen Pokphand Foods Public Limited Company, Coastal Corporation Limited, Uniroyal Marine Exports Limited, BKV Industries Limited, A.M. Fisheries, Abad Fisheries Private Limited, Ananda Aqua Exports Private Limited, Anjaneya Sea Foods, August Seafood, Baby Marine Ventures, BMR Group, Citrus Alpha Marine LLP, Crystal Sea Foods Private Limited, Devi Marine Foods Exports Private Limited, Falcon Marine Exports Ltd, Frontline Exports Private Limited, Geo Seafoods, Jayalakshmi Sea Foods Pvt. Ltd., JRJ Sea Foods India Private Limited, Jude Foods India Private Limited, K V Marine Exports, Kadalkanny Frozen Foods, Liberty Frozen Foods Private Limited, Liberty Group of Seafood Companies.
The report has segmented the market on the basis of region, environment, species, states, shrimp size, end use and end form.
India Shrimp Industry: Market Breakup by Environment:
- Farmed Shrimp
- Wild Shrimp
Market Breakup by Species:
- Penaeus Monodon
Market Breakup by States:
- Andhra Pradesh
- West Bengal
- Tamil Nadu
Market Breakup by Shrimp Size:
Market Breakup by End Use:
- Hotels and Restaurants
- Retail Shops
- Hypermarkets and Supermarkets
- Online Sales
Market Breakup by End Form
India Inland Fish Industry: Market Breakup by Environment
- Fresh Water
- Brackish Water
Market Breakup by Species
- Indian Major Carps
- Exotic Carps
Market Breakup by State:
- Andhra Pradesh
- West Bengal
- Uttar Pradesh
- North East Region
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Key highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2022- 2027)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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