India Basa Fish Market Report and Forecast 2024-2032

India Basa Fish Market Outlook

The India Basa fish market is being aided by the growing fish market in India, which stood at a value of around INR 1,669.75 billion in 2023. The India fish market is further expected to grow in the forecast period of 2024-2032 at a CAGR of 10.50%.

Increasing Demand for Frozen Seafood to Aid the Growth of the Basa Fish Industry in India

The demand for frozen products in India is growing significantly. This can be attributed to their high shelf life, lower price, sustainability, and easy availability in convenience stores. Additionally, the growing adoption of advanced cold storage technology in the seafood industry is anticipated to propel the sales of frozen fish products. These products have high protein value and provide improved flavours to consumers. Hence, these factors are expected to positively influence the market growth in the forecast period.

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The growing aquaculture and fisheries production in India is expected to aid the market growth across the country. Moreover, the advancements in technology and the favourable government regulations to strengthen the country’s seafood industry are expected to further contribute to the market growth.

Basa Fish: Market Segmentation

Basa fish is defined as a type of catfish which belongs to the Pangasiidae family. The scientific name of Basa fish is Pangasius bocourti and flesh of this fish has a light and mild flavour with a firm texture. In addition to this, Basa fish is low in calories and contains high-quality protein. Basa fish are prevalent in the Southeast Asian region and are native to Mekong and Chao Phraya rivers.

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Based on product type, the market can be segmented into:

• Fresh
• Frozen

On the basis of source, the market has been bifurcated into:

• Imported
• Local

The major end uses of the product include:

• Institutional
• Retail

The regional markets for the product include North, South, East, and West.

Thriving Food Industry and the High Nutritional Value of Basa Fish to Boost the Growth of the India Basa Fish Industry

The thriving food industry owing to the rising disposable incomes, increasing population, and increasing inclination towards food products with high nutritional value is driving the market growth in India. Basa fish contains omega-3, which is great for the heart and helps cure depression. In addition to this, the rising heart related diseases are likely to contribute to the product demand. Apart from this, the market is anticipated to be aided by the emerging e-commerce industry in India, which is gradually increasing its foothold in the seafood segment. For instance, in October 2021, India’s first e-fish market application Fishwaale was launched in Assam to provide a one-stop solution for aquaculture, helping the fish farming community. Furthermore, the increasing sales of boneless Basa fish fillets in the country owing to the growing awareness about esophageal fish bone foreign body (FFB) disease is anticipated to provide impetus to the market in the forecast period.

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Key Industry Players in the India Basa Fish Market

The report also gives a detailed analysis of the major players in the India Basa fish market, covering their competitive landscape, capacity, and latest developments like mergers and acquisitions, investments, capacity expansions, and plant turnarounds.

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.

Key Highlights of the Report