India Aquaculture Industry 2023 | Growth, Demand, Report and Forecast to 2028

According to the latest report by IMARC Group, titled “India Aquaculture Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,” offers a comprehensive analysis of the industry, which comprises insights on the India aquaculture industry. The report also includes competitor and regional analysis, and contemporary advancements in the market.

The India aquaculture market size reached 12.4 Million Tons in 2022. Looking forward, IMARC Group expects the market to reach 19.9 Million Tons by 2028, exhibiting a growth rate (CAGR) of 8.1% during 2023-2028.

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.

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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.

India Aquaculture Market 2023-2028 Analysis and Segmentation:

Competitive Landscape:

The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.

Aquaculture Companies:

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:

• Vannamei
• Penaeus Monodon
• Scampi

Market Breakup by States:

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

Market Breakup by Shrimp Size:

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

Market Breakup by End Use:

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

Market Breakup by End Form

• Frozen
• Fresh
• Canned

India Inland Fish Industry: Market Breakup by Environment

• Fresh Water
• Brackish Water

Market Breakup by Species

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

Market Breakup by State:

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

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 Key highlights of the report:

• Market Performance (2017-2022)
• Market Outlook (2023- 2028)
• 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.

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