The Indian shrimp market reached a value of US$ 6.5 billion in 2021. Looking forward, the market is projected to reach US$ 12.7 billion by 2027, exhibiting a CAGR of 11.5% during 2022-2027. Keeping in mind the uncertainties of COVID-19, the analyst is continuously tracking and evaluating the direct as well as the indirect influence of the pandemic. These insights are included in the report as a major market contributor.
Shrimp is an invertebrate marine animal with an elongated body belonging to the largest class of crustaceans, which are known as Malacostraca. It is generally found in freshwater lakes and streams, and deep and shallow waters. It is a rich source of iron, copper, proteins, selenium, antioxidants, phosphorus, magnesium, and vitamin B12. Consequently, its consumption aids in weight loss, fighting aging, improving bone health, decreasing menstrual pain, and preventing cardiovascular diseases.
Fisheries represent a significant economic activity in India and offer vast growth opportunities on account of the long coastline and favorable geographical conditions. This, coupled with the easy availability of healthy and disease-free shrimp, represents one of the key factors impelling the growth of the market. Moreover, due to the easy availability of land and labor and comparatively lower shrimp farming cost, India has become one the biggest exporters of fresh and frozen shrimp products around the world. In line with this, the escalating demand for shrimp products at a global scale is contributing to the market growth. Furthermore, the growing popularity of regional and international cuisines, along with the rising health consciousness among individuals, is positively influencing the demand for shrimp products in the country. Additionally, due to the rising environmental concerns, the Government of India is introducing various initiatives to encourage organic shrimp farming practices, which is offering lucrative growth opportunities to key players operating in the country. Apart from this, the escalating demand for ready-to-eat (RTE) food products on account of rapid urbanization and hectic lifestyles of individuals are facilitating the consumption of frozen and processed shrimp products in India.
This report provides an analysis of the key trends in each sub-segment of the Indian shrimp market, along with forecasts at the country and state level from 2022-2027. The report has categorized the market based on species and shrimp size.
Penaeus Vannamei shrimp currently holds the largest market share on account of its significant farming in the country.
At present, size 31-40 shrimp accounts for the majority of the total market share.
The competitive landscape of the market has been analyzed in the report, along with the detailed profiles of the major players operating in the industry. Some of these players are Nekkanti Sea Foods Limited, Avanti Frozen Foods Private Limited, Devi Sea Foods Limited, Falcon Marine Exports Ltd., BMR Group, Baby Marine (Eastern) Exports, Sandhya Marines Ltd., Apex Frozen Foods Limited, Ananda Aqua Exports Private Limited, Crystal Sea Foods Private Limited, Citrus Alpha Marine LLP, Jaya Lakshmi Seafoods Private Limited, Ifb Agro Industries Limited, SSF Limited, A.M.Fisheries, JRJ Seafoods India Private Limited, Anjaneya Sea Foods, Kings Infra Ventures Limited, Kadalkanny Frozen Foods, The Waterbase Limited, Geo Sea Foods Exports Private Limited, Abad Fisheries Private Limited, K V Marine Exports, Liberty Group of Seafood Companies, Kader Exports Private Limited, Liberty Frozen Foods Private Limited, Devi Marine Foods Exports Private Limited, Zeal Aqua Limited, Frontline Exports Private Limited, and Jude Foods India Private Limited.
This report provides a deep insight into the Indian shrimp industry covering all its essential aspects. This ranges from macro overview of the market to micro details of the industry performance, recent trends, key market drivers and challenges, SWOT analysis, impact of macro and micro environment, value chain analysis, etc. The report also provides a comprehensive analysis for setting up a shrimp processing plant. The study analyses the processing and manufacturing requirements, project cost, project funding, project economics, expected returns on investment, profit margins, etc. This report is a must-read for entrepreneurs, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the shrimp industry in any manner.
2. What is the expected growth rate of the Indian shrimp market during 2022-2027?
3. What are the key factors driving the Indian shrimp market?
4. What has been the impact of COVID-19 on the Indian shrimp market?
5. What is the breakup of the Indian shrimp market based on the species?
6. What is the breakup of the Indian shrimp market based on the size?
7. What are the key regions in the Indian shrimp market?
8. Who are the key players/companies in the Indian shrimp market?
Shrimp is an invertebrate marine animal with an elongated body belonging to the largest class of crustaceans, which are known as Malacostraca. It is generally found in freshwater lakes and streams, and deep and shallow waters. It is a rich source of iron, copper, proteins, selenium, antioxidants, phosphorus, magnesium, and vitamin B12. Consequently, its consumption aids in weight loss, fighting aging, improving bone health, decreasing menstrual pain, and preventing cardiovascular diseases.
Indian Shrimp Market Trends
Fisheries represent a significant economic activity in India and offer vast growth opportunities on account of the long coastline and favorable geographical conditions. This, coupled with the easy availability of healthy and disease-free shrimp, represents one of the key factors impelling the growth of the market. Moreover, due to the easy availability of land and labor and comparatively lower shrimp farming cost, India has become one the biggest exporters of fresh and frozen shrimp products around the world. In line with this, the escalating demand for shrimp products at a global scale is contributing to the market growth. Furthermore, the growing popularity of regional and international cuisines, along with the rising health consciousness among individuals, is positively influencing the demand for shrimp products in the country. Additionally, due to the rising environmental concerns, the Government of India is introducing various initiatives to encourage organic shrimp farming practices, which is offering lucrative growth opportunities to key players operating in the country. Apart from this, the escalating demand for ready-to-eat (RTE) food products on account of rapid urbanization and hectic lifestyles of individuals are facilitating the consumption of frozen and processed shrimp products in India.
Key Market Segmentation
This report provides an analysis of the key trends in each sub-segment of the Indian shrimp market, along with forecasts at the country and state level from 2022-2027. The report has categorized the market based on species and shrimp size.
Breakup by Species:
- Penaeus Vannamei
- Penaeus Monodon
- Others
Penaeus Vannamei shrimp currently holds the largest market share on account of its significant farming in the country.
Breakup by Shrimp Size:
- Size 31-40
- Size 41-50
- Size 51-60
- Size 61-70
- Size >70
- Others
At present, size 31-40 shrimp accounts for the majority of the total market share.
Breakup by State:
- West Bengal
- Gujarat
- Andhra Pradesh
Competitive Landscape
The competitive landscape of the market has been analyzed in the report, along with the detailed profiles of the major players operating in the industry. Some of these players are Nekkanti Sea Foods Limited, Avanti Frozen Foods Private Limited, Devi Sea Foods Limited, Falcon Marine Exports Ltd., BMR Group, Baby Marine (Eastern) Exports, Sandhya Marines Ltd., Apex Frozen Foods Limited, Ananda Aqua Exports Private Limited, Crystal Sea Foods Private Limited, Citrus Alpha Marine LLP, Jaya Lakshmi Seafoods Private Limited, Ifb Agro Industries Limited, SSF Limited, A.M.Fisheries, JRJ Seafoods India Private Limited, Anjaneya Sea Foods, Kings Infra Ventures Limited, Kadalkanny Frozen Foods, The Waterbase Limited, Geo Sea Foods Exports Private Limited, Abad Fisheries Private Limited, K V Marine Exports, Liberty Group of Seafood Companies, Kader Exports Private Limited, Liberty Frozen Foods Private Limited, Devi Marine Foods Exports Private Limited, Zeal Aqua Limited, Frontline Exports Private Limited, and Jude Foods India Private Limited.
This report provides a deep insight into the Indian shrimp industry covering all its essential aspects. This ranges from macro overview of the market to micro details of the industry performance, recent trends, key market drivers and challenges, SWOT analysis, impact of macro and micro environment, value chain analysis, etc. The report also provides a comprehensive analysis for setting up a shrimp processing plant. The study analyses the processing and manufacturing requirements, project cost, project funding, project economics, expected returns on investment, profit margins, etc. This report is a must-read for entrepreneurs, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the shrimp industry in any manner.
Key Questions Answered in This Report
1. What was the size of the Indian shrimp market in 2021?2. What is the expected growth rate of the Indian shrimp market during 2022-2027?
3. What are the key factors driving the Indian shrimp market?
4. What has been the impact of COVID-19 on the Indian shrimp market?
5. What is the breakup of the Indian shrimp market based on the species?
6. What is the breakup of the Indian shrimp market based on the size?
7. What are the key regions in the Indian shrimp market?
8. Who are the key players/companies in the Indian shrimp market?
Frequently Asked Questions about the Indian Shrimp Market
What is the estimated value of the Indian Shrimp Market?
What is the growth rate of the Indian Shrimp Market?
What is the forecasted size of the Indian Shrimp Market?
Who are the key companies in the Indian Shrimp Market?
Report Attribute | Details |
---|---|
No. of Pages | 310 |
Published | April 2022 |
Forecast Period | 2021 - 2027 |
Estimated Market Value ( USD | $ 6.5 Billion |
Forecasted Market Value ( USD | $ 12.7 Billion |
Compound Annual Growth Rate | 11.8% |
Regions Covered | India |
No. of Companies Mentioned | 30 |
Table of Contents
1 Preface3 Executive Summary
2 Scope and Methodology
4 Introduction
5 Global Shrimp Industry
6 Global Wild Shrimp Industry
7 Global Farmed Shrimp Industry
8 Indian Shrimp Industry: Market Insights
9 Indian Shrimp Industry: Value Chain
10 Market for Value Added Shrimp Products
11 Indian Shrimp Industry: Key Players
List of Figures
List of Tables
Companies Mentioned
- Nekkanti Sea Foods Limited
- Avanti Frozen Foods Private Limited
- Devi Sea Foods Limited
- Falcon Marine Exports Ltd.
- BMR Group
- Baby Marine (Eastern) Exports
- Sandhya Marines Ltd.
- Apex Frozen Foods Limited
- Ananda Aqua Exports Private Limited
- Crystal Sea Foods Private Limited
- Citrus Alpha Marine LLP
- Jaya Lakshmi Seafoods Private Limited
- Ifb Agro Industries Limited
- SSF Limited
- A.M.Fisheries
- JRJ Seafoods India Private Limited
- Anjaneya Sea Foods
- Kings Infra Ventures Limited
- Kadalkanny Frozen Foods
- The Waterbase Limited
- Geo Sea Foods Exports Private Limited
- Abad Fisheries Private Limited
- K V Marine Exports
- Liberty Group of Seafood Companies
- Kader Exports Private Limited
- Liberty Frozen Foods Private Limited
- Devi Marine Foods Exports Private Limited
- Zeal Aqua Limited
- Frontline Exports Private Limited
- and Jude Foods India Private Limited
Methodology
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