India Aquaculture Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

The India aquaculture market size reached 12.4 Million Tons in 2022. Looking forward, the analyst expects the market to reach 19.9 Million Tons by 2028, exhibiting a CAGR of 8.2% during 2022-2028.

Aquaculture or aquafarming, refers to the production of aquatic organisms, such as freshwater fishes, crustaceans, mollusks, etc., under partially controlled conditions. Some of the common types of aquaculture include fish farming, shrimp farming, oyster farming, algaculture, mariculture, etc. Aquaculture also includes the production of ornamental fishes to support recreational and commercial fisheries. India is traditionally a freshwater aquaculture country with a historical record of fish farming in private and community ponds. The vast coastal area of India offers immense opportunities for aquaculture in both marine and inland waters.

India Aquaculture Market Trends:

In India, the growing consumption of fish, owing to numerous health benefits in enhancing digestion, improving skin health, boosting metabolism, etc., is primarily driving the aquaculture market. In line with this, the shifting consumer preferences from high-calorie meat products towards a protein-rich diet, including fish, shrimps, mollusks, etc., are also propelling the market growth. Additionally, the rising number of hatcheries, feed mills, and processing plants is further augmenting the aquaculture market in the country. Moreover, the Indian government is launching numerous initiatives, such as Pradhan Mantri Matsya Sampada Yojana, to establish a comprehensive framework and reduce infrastructural gaps in the fisheries sector. In line with this, the introduction of various awareness programs for educating fish farmers to enhance their production volume and yield quality is also bolstering the aquaculture market in India. Additionally, the escalating prevalence of numerous foodborne illnesses caused due to pathogens present in conventionally cultured fishes is further catalyzing the demand for organic variants. Apart from this, several key players are adopting innovative solutions for the domestication and in-house cultivation of ornamental fish species in artificial marine-like environments for recreational and commercial purposes. Moreover, the emergence of sustainable cultivation systems, which are aimed at not disrupting the ecosystem, protecting biodiversity, reducing pollution, etc., is expected to drive the India aquaculture market in the coming years.

Key Market Segmentation:

The analyst provides an analysis of the key trends in each sub-segment of the India aquaculture market report, along with forecasts at the country and state level from 2023-2028. Our report has categorized the market based on environment, species, shrimp size, end use and end form.

India Shrimp Industry: Breakup by Environment:

• Farmed Shrimp
• Wild Shrimp

Breakup by Species:

• L. Vannamei
• Penaeus Monodon
• Scampi

Breakup by States:

• Andhra Pradesh
• West Bengal
• Gujarat
• Tamil Nadu
• Orissa
• Maharashtra
• Karnataka
• Kerala
• Others

Breakup by Shrimp Size:

31-40
41-50
51-60
61-70
>70

• Others

Breakup by End Use:

• Hotels and Restaurants
• Retail Shops
• Hypermarkets and Supermarkets
• Online Sales
• Others

Breakup by End Form:

• Frozen
• Fresh
• Canned
• India Inland Fish Industry:

Breakup by Environment

• Fresh Water
• Brackish Water

Breakup by Species

• Indian Major Carps
• Exotic Carps
• Pangasius
• Clarias
• Anabas
• Rupchanda
• Tilapia
• Seabass
• Others

Breakup by State:

• Andhra Pradesh
• West Bengal
• Uttar Pradesh
• Maharashtra
• North East Region
• Others

Competitive Landscape:

The competitive landscape of the India aquaculture industry has also been examined with some of the key players being, 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.

Key Questions Answered in This Report:

• How has the India shrimp market performed so far and how will it perform in the coming years?
• What has been the impact of COVID-19 on the India shrimp market?
• What is the breakup of the market based on the environment?
• What is the breakup of the market based on the species?
• What is the breakup of the market based on the states?
• What is the breakup of the market based on the shrimp size?
• What is the breakup of the market based on the end use?
• What is the breakup of the market based on the end form?
• What are the key driving factors and challenges in the industry?
• What are the various stages in the value chain of the industry?
• What is the structure of the India shrimp market and who are the key players?
• How has the India inland fish market performed so far and how will it perform in the coming years?
• What has been the impact of COVID-19 on the India inland fish market?
• What is the breakup of the market based on the environment?
• What is the breakup of the market based on the species?
• What is the breakup of the market based on the states?
• What are the various stages in the value chain of the industry?
• What are the key driving factors and challenges in the industry?