IMARC Group, a leading market research company, has recently releases report titled “India Aquaculture Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the India aquaculture industry share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
What is present status of aquaculture in India?
|Market Size in 2022||12.4 Million Tons|
|Market Forecast in 2028||19.9 Million Tons|
|Growth rate (2023 to 2028)||CAGR of 8.1%|
|Base Year of the Analysis||2022|
Aquaculture, also known as fish farming or culture, is the propagation and husbandry of aquatic animals, plants, and other organisms for commercial, recreational, and scientific research purposes. It comprises various phases, including brood stock holding, hatchery production of seed, nursing systems, grow-out systems, and quarantining. It is available in distinct types, such as freshwater aquaculture, brackish water aquaculture, and mariculture. Industry involves the farming of a wide variety of fishes in outdoor pond systems, such as walleyes, trout, tilapia, warmouth bass, catfish, carp, shiners, bluegills, sunfish, rohu, mrigal, catla, and salmon. It also implies the rearing of shellfish, clamps, shrimps, lobsters, crayfish, and oysters, which are primarily exotic and high-priced seafood.
Aquaculture is carried out by providing adequate and appropriate types of feed to the aquatic organisms and conducting regular inspections of the diseases for proper health maintenance. It is essential for various purposes, including the restoration of numerous threatened and endangered species populations, wild stock population enhancement, and habitat restoration. As it also helps in rearing various species of fish, such as goldfish, Siamese fighting fish, fire moth cichlid, and dwarf gourami, which are popular ornamental fishes, the demand for aquaculture is rising in India.
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What are the growth prospects and trends in the India Aquaculture Industry?
At present, the increasing aquaculture practices, as they are facilitating sustainable use of sea resources and the conservation of biodiversity, represent one of the primary factors influencing the market positively in India. Besides this, the rising incorporation of fish in the daily diets of various Indian states is propelling the growth of the market.
In addition, the Government of India is introducing various schemes, such as the Pradhan Mantri Matsya Sampad Yojana (PMMSY), which aims to upkeep the aquaculture industry in the country and enhance production. It has also launched a centrally sponsored scheme on the development of inland fishers and aquaculture in states and union territories to strengthen food security, generate employment opportunities in the industry, and earn foreign exchange.
Apart from this, the growing consumption of protein-rich diets to prevent the occurrence of various health complications, such as obesity, diabetes, and arthritis, is offering a favorable market outlook. Additionally, the rising number of e-commerce businesses selling organic seafood that is grown without any chemicals, antibiotics, and hormones is contributing to the growth of the market in India. Furthermore, the rising adoption of effective fish farming techniques, such as bio floc systems where probiotics or microbes are used to promote specific immunity in shrimps and reduce pathogenic bacteria, is bolstering the growth of the market in India.
What is included in market segmentation?
The report has segmented the market into the following categories:
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
Breakup by Shrimp Size:
Industry 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
Breakup by Species
- Indian Major Carps
- Exotic Carps
Market Breakup by State:
- Andhra Pradesh
- West Bengal
- Uttar Pradesh
- North East Region
Who are the key players operating in the industry?
The report covers the major market players including:
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, Abad Fisheries Private Limited, Ananda Aqua Exports Private Limited, Anjaneya Sea Foods, August Seafood, Baby Marine Ventures, BMR Group, 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.
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