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The India fish market reached approximately INR 1,881.84 billion in 2023. The market is projected to grow at a CAGR of 11% between 2024 and 2032, reaching a value of around INR 4,813.81 billion by 2032.
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Fish is a limbless cold-blooded vertebrate animal, which has gills and fins. It is enriched with calcium and phosphorus and is a good source of minerals, like iron, iodine, magnesium zinc, and potassium. It is a low-fat high-quality protein and is filled with omega-3 fatty acids and vitamins, including D and B2 (riboflavin).
The India fish market value is increasing due to the rising per capita consumption of the product over the last few years. On account of inflating disposable incomes and changing food habits, the consumption of sea food is expected to increase over the forecast period. The market growth is also driven by the huge export potential it offers as the market accounts for about 6% of global production. Currently, the country represents one of the largest producers of fish in the world. In recent years, India has witnessed huge growth both in domestic consumption, as well as the export of fish, consequently enhancing the overall market growth.
The expansion of the cold chain logistics is also a crucial factor propelling the India fish market development. This expansion has facilitated the storage and transportation of frozen fish and increased their availability in urban areas, where convenient and frozen food products are gaining popularity due to busy lifestyles.
According to the Ministry of Fisheries, Animal Husbandry & Dairying, India is the third-largest fish-producing country, contributing 8 percent to global fish production and ranking second in aquaculture production. In 2021-22, India's fish production totaled 16.24 million tonnes, with 4.12 million tonnes from marine sources and 12.12 million tonnes from aquaculture.
Since the launch of the Pradhan Mantri Matsya Sampada Yojana (PMMSY) in 2020-21, the country's overall fish production has increased, reaching 16.24 million tonnes in 2021-22, up from 14.16 million tonnes in 2019-20.
According to the FAO, India has 3,827 fishing villages and 1,914 traditional fish landing centres. Major fishing harbours include Mangalore (Karnataka), several in Kerala (Chellanam, Vypeen, Koyilandy, Neendakara, Vizhinjam), Tamil Nadu (Tuticorin, Nagapattinam, Chennai), Vishakhapatnam (Andhra Pradesh), and Raichak (Kolkata, West Bengal). Additionally, there are 23 minor fishing harbours and 95 fish-landing centres. India's exclusive economic zone (EEZ) extends 200 nautical miles into the Indian Ocean, covering over 2 million square kilometers, emphasizing the importance of marine capture fisheries, especially traditional and small-scale operations, impacting the India fish market.
As per FAO, export earnings from fish and fishery products in 2022 were approximately USD 7.9 billion, with shrimp contributing 70 percent of this value. The rise in shrimp aquaculture, particularly with the introduction of vannamei shrimp, has significantly boosted production. Currently, around 1 million tonnes of vannamei shrimp are cultured annually, underscoring the species' importance to the industry.
The study "Fish Consumption in India: Patterns and Trends," unveiled by the Indian Council of Agricultural Research, Ministry of Agriculture and Farmers’ Welfare, Government of India, and WorldFish, found that 72.1% of the Indian population, or 966.9 million individuals, consume fish. Kerala leads with 53.5% of its population eating fish daily, followed by Goa (36.2%), West Bengal (21.9%), Manipur (19.7%), Assam (13.1%), and Tripura (11.5%).
Industry reports indicate that the HoReCa (Hotels, Restaurants, and Catering) sector contributes over USD 78 billion annually to India's economy, representing more than 7 percent of the GDP. Projections suggest the industry will exceed USD 280 billion by 2025. Implementing effective government policies and regulations for the unorganized sector could significantly boost the potential of the HoReCa industry, fostering further economic growth and stability.
Growing trend of health and wellness; growth of the organised food retail sector; sustainable fishing practices; and favourable government initiatives are the major trends impacting the India fish market expansion
Date | Company/Institute | Event |
Jan 2024 | Neat Meatt Biotech | Neat Meatt Biotech, a startup for cultivated meat, entered into an agreement with the Central Marine Fisheries Research Institute (CMFRI) in Kochi for the development of cultivated meat from marine fishes. |
Oct 2023 | eFishery | eFishery, an Indonesian aquaculture company, announced that is planning to expand its business in India in the first quarter of 2024. |
Jul 2023 | Kerala University of Fisheries and Ocean Studies (KUFOS), India | Kerala University of Fisheries and Ocean Studies (KUFOS) announced the launch of its project which involves the production of fish feed from organic waste. |
Feb 2023 | Skretting | Skretting, an aquafeed and nutrition company, announced the launch of its state-of-the-art production facility for shrimp and fish feed. |
Trends | Impact |
Growing trend of health and wellness | Fish, being a healthy food with high levels of digestible protein, cholesterol-lowering capability, and PUFA, is witnessing strong demand, especially from the health-conscious consumers and those following a certain diet. |
Growth of the organised food retail sector | The growth of the organised food retail sector has helped enhance the accessibility of processed fish products, especially canned and frozen fish products in the Indian market. |
Growing importance of sustainable aquaculture in the India fish market | The players in India fish market are incorporating sustainable practices to protect the biodiversity in the ocean and freshwater and meet the stringent quality and safety standards. |
Favourable government initiatives | These initiatives include subsidies and incentives for promoting the aquaculture sector and boosting overall fish production. |
Various health benefits associated with fish consumption are positively impacting the fish consumption In India among health-conscious consumers. Sea food is rich in nutrients such as protein, omega-3 fatty acids, vitamins, and minerals, among others, which can support the overall health of a person. Omega-3 can reduce the risk of cardiovascular diseases, and Alzheimer’s disease and is good for skin and hair health. Furthermore, increasing consumption of fish is also linked to reducing stress and depression due to the presence of these fatty acids which can promote brain health.
The key players in India fish market are establishing production facilities for yielding high-quality fish feeds and meeting the demand for premium and nutritious sea foods. Skretting, a Norway-based aquafeed and nutrition company, announced in February 2023 that it is planning on launching its state-of-the-art production facility for aqua nutrition in Surat, India. This production facility will span over 20,000 square metre and aims to produce extruded and pelleted feed depending on the requirements of the shrimp and fish species.
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“India Fish Market Report and Forecast 2024-2032” offers a detailed analysis of the market based on the following segments:
Market Breakup | Categories |
Product | Fresh, Frozen, Canned, Others |
Fish Type | Inland Fishes, Marine Fishes, Shrimps, Scampi |
Distribution Channel | Retail, Institutional and HoReCa |
Sector | Organised, Unorganised |
Region | North India, East and Central India, West India, South India |
Inland fishes are further divided based on species into Indian Major Carps, Pangasius, Exotic Carps, Clarias, Anabas, Rupchanda, Tilapia, and Seabass, among others.
Freshwater fish dominates the India fish market share, as it is commonly used in several Indian cuisines and local dishes
The India fish market benefits from the rising consumption of freshwater fish by a significant population in the country. Freshwater fish forms an integral part of several Indian cuisines such as Fish Bhunna and Fish Chowder, among others. The rising network of fishermen and aquaculture farms across the country further increases its accessibility to consumers.
As per the India fish market report, the frozen fish segment is also expected to witness sizeable growth in the coming years due to the growth of cold chain logistics in the country. The segment growth is further supported by the rising demand for convenient food products as well as innovations in freezing technology which enhances the quality and freshness of frozen fish. Additionally, the rising popularity of frozen fish fillets is further anticipated to support the demand for frozen fish products in the country.
Inland fisheries significantly contributes to the overall fish production in India, witnessing a shift from capture to culture-based fisheries
According to India fish market analysis, inland fisheries leads the market, emerging as a major contributor to the overall fish production. The remarkable growth of inland fisheries in India can be attributed to the growing adoption of modern practices and science-based fisheries. The producers are making efforts to enhance their yield and are focusing on responsible sourcing of seafood to meet the growing demand for high-quality products.
Meanwhile, the demand for shrimps is also anticipated to increase significantly in the coming years and India is renowned as one of the largest exporters and producers of shrimps. Moreover, farmers in the states such as West Bengal are actively engaged in shrimp farming to meet the growing export demand.
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The market players are adopting modern fishing practices, with an emphasis on sustainable and responsible sourcing of seafood
Company | Founded | Headquarters | Operations |
Silver Sea Food | 1980 | Gujarat, India | Export of frozen seafood products |
Abad Fisheries Private Limited | 1931 | Kerala, India | Processing and export of frozen seafood |
Seasaga Group | 1952 | Maharashtra, India | Processing and export of frozen seafood |
Kirti Foods | 1993 | Gujarat, India | Manufacture and export of dry vegetables and spices |
Other notable players in the India fish market include Geo Seafood, Apex Frozen Foods Ltd, Munnujii Foods International Pvt. Ltd, Oceans Secret, Prakash Foods, and Golden Prize India, among others. The players are readily making efforts to adopt sustainable measures, incorporate optimal quality feed for proper fish nutrition, and develop innovative seafoods.
The India fish market is characterized by a diverse and competitive landscape, driven by the country's vast coastline, extensive inland water resources, and a growing consumer demand for fish and seafood products. Key aspects of the market competition include:
Government and Cooperative Organizations: As per the fish industry analysis, institutions like the National Fisheries Development Board (NFDB) and state fisheries departments play a significant role in regulating and promoting fish production and trade.
Private Sector: Numerous private companies, both large and small, are involved in fish farming, processing, and distribution. Prominent companies include Silver Sea Food, Abad Fisheries Private Limited, Seasaga Group, and Geo Seafood.
Local Fish Farmers and Cooperatives: Small-scale fish farmers and cooperative societies contribute significantly to the overall fish production, particularly in rural and coastal areas.
Products made from fish and seafood are widely available in the market, including processed, frozen, fresh, and value-added goods. Shrimp, carp, catfish, and several marine fish are popular species. Companies compete by broadening the range of products they offer to meet the needs of various customer demographics and market segments.
Competitive pricing is crucial, with companies striving to balance cost efficiency and profitability. Factors influencing pricing include production costs, market demand, and international trade dynamics. Seasonal variations and supply chain efficiency also impact pricing strategies, thus affecting the fish market share In India.
Effective distribution networks are vital for market competition. Companies with robust logistics and supply chain management can ensure timely delivery and maintain product quality. Traditional wet markets, supermarkets, online platforms, and direct sales to restaurants and hotels are common distribution channels which are propelling the growth of the fish market.
Companies can get a competitive edge by implementing cutting edge technologies in cold chain logistics, aquaculture, and processing. Key differentiators include innovations like biofloc technology, automated feeding systems, and advanced processing methods.
India is a significant fish and seafood exporter, with the United States, European Union, Japan, and Southeast Asia being its main customers. In order to compete in the export market, companies prioritize obtaining international certifications and quality requirements.
Businesses may differentiate their products from the competition and increase customer loyalty with the aid of strong branding and marketing strategies. Marketing campaigns frequently highlight the importance of quality, sustainability, and traceability. Reaching a larger audience requires taking part in exhibits, trade shows, and digital marketing.
Compliance with government regulations and standards for fish production, processing, and safety is crucial for market competitiveness. Companies that adhere to these standards can build trust and credibility among consumers.
Increasing consumer awareness about sustainability and environmental impact drives competition towards adopting eco-friendly practices. Companies investing in sustainable aquaculture, responsible sourcing, and waste management gain a competitive advantage. Certifications like the Marine Stewardship Council (MSC) and Aquaculture Stewardship Council (ASC) enhance marketability and consumer trust, aiding the India fish market.
In 2020-21, Andhra Pradesh led India in fish catch disposition with 46.23 lakh tonnes, indicating its dominance in the fisheries sector. West Bengal followed with 17.56 lakh tonnes, showing significant production as well in India fish market. Odisha and Uttar Pradesh were also major contributors, with 8.73 and 7.46 lakh tonnes respectively. Gujarat and Tamil Nadu had comparable outputs, around 7.44 and 7.22 lakh tonnes. Other notable states included Bihar (6.83 lakh tonnes), Kerala (6.15 lakh tonnes), Karnataka (5.98 lakh tonnes), and Maharashtra (3.98 lakh tonnes), as per the Department of Fisheries, India.
REPORT FEATURES | DETAILS |
Base Year | 2023 |
Historical Period | 2018-2023 |
Forecast Period | 2024-2032 |
Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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Breakup by Product |
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Breakup by Fish Type |
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Breakup by Distribution Channel |
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Breakup by Sector |
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Breakup by Region |
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Market Dynamics |
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Trade Data Analysis |
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Competitive Landscape |
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Companies Covered |
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*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
7 Opportunities and Challenges in the Market
8 Global Fish Market Overview
8.1 Key Industry Highlights
8.2 Global Fish Historical Market (2018-2023)
8.3 Global Fish Market Forecast (2024-2032)
8.4 Global Fish Market Share by Region
8.4.1 North America
8.4.2 Europe
8.4.3 Asia Pacific
8.4.4 Latin America
8.4.5 Middle East and Africa
9 India Fish Market Overview
9.1 Key Industry Highlights
9.2 India Fish Historical Market (2018-2023)
9.3 India Fish Market Forecast (2024-2032)
10 India Fish Market by Product
10.1 Fresh
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Frozen
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 Canned
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
10.4 Others
11 India Fish Market by Fish Type
11.1 Inland Fishes
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.1.3 Breakup by Species
11.1.3.1 Indian Major Carps
11.1.3.2 Pangasius
11.1.3.3 Exotic Carps
11.1.3.4 Clarias
11.1.3.5 Anabas
11.1.3.6 Rupchanda
11.1.3.7 Tilapia
11.1.3.8 Seabass
11.1.3.9 Others
11.2 Marine Fishes
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 Shrimps
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
11.4 Scampi
11.4.1 Historical Trend (2018-2023)
11.4.2 Forecast Trend (2024-2032)
12 India Fish Market by Distribution Channel
12.1 Retail
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Institutional and HoReCa
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
13 India Fish Market by Sector
13.1 Organised
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 Unorganised
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
14 India Fish Market by Region
14.1 North India
14.1.1 Historical Trend (2018-2023)
14.1.2 Forecast Trend (2024-2032)
14.2 East and Central India
14.2.1 Historical Trend (2018-2023)
14.2.2 Forecast Trend (2024-2032)
14.3 West India
14.3.1 Historical Trend (2018-2023)
14.3.2 Forecast Trend (2024-2032)
14.4 South India
14.4.1 Historical Trend (2018-2023)
14.4.2 Forecast Trend (2024-2032)
15 Market Dynamics
15.1 SWOT Analysis
15.1.1 Strengths
15.1.2 Weaknesses
15.1.3 Opportunities
15.1.4 Threats
15.2 Porter’s Five Forces Analysis
15.2.1 Supplier’s Power
15.2.2 Buyer’s Power
15.2.3 Threat of New Entrants
15.2.4 Degree of Rivalry
15.2.5 Threat of Substitutes
15.3 Key Indicators for Demand
15.4 Key Indicators for Price
16 Trade Data Analysis (HS Code - 030289)
16.1 Major Importing Countries
16.1.1 By Volume
16.1.2 By Value
16.2 Major Exporting Countries
16.2.1 By Volume
16.2.2 By Value
17 Competitive Landscape
17.1 Market Structure
17.2 Company Profiles
17.2.1 Silver Sea Food
17.2.1.1 Company Overview
17.2.1.2 Product Portfolio
17.2.1.3 Demographic Reach and Achievements
17.2.1.4 Certifications
17.2.2 Abad Fisheries Private Limited
17.2.2.1 Company Overview
17.2.2.2 Product Portfolio
17.2.2.3 Demographic Reach and Achievements
17.2.2.4 Certifications
17.2.3 Seasaga Group
17.2.3.1 Company Overview
17.2.3.2 Product Portfolio
17.2.3.3 Demographic Reach and Achievements
17.2.3.4 Certifications
17.2.4 Geo Seafood
17.2.4.1 Company Overview
17.2.4.2 Product Portfolio
17.2.4.3 Demographic Reach and Achievements
17.2.4.4 Certifications
17.2.5 Apex Frozen Foods Ltd
17.2.5.1 Company Overview
17.2.5.2 Product Portfolio
17.2.5.3 Demographic Reach and Achievements
17.2.5.4 Certifications
17.2.6 Kirti Foods
17.2.6.1 Company Overview
17.2.6.2 Product Portfolio
17.2.6.3 Demographic Reach and Achievements
17.2.6.4 Certifications
17.2.7 Munnujii Foods International Pvt. Ltd
17.2.7.1 Company Overview
17.2.7.2 Product Portfolio
17.2.7.3 Demographic Reach and Achievements
17.2.7.4 Certifications
17.2.8 Oceans Secret
17.2.8.1 Company Overview
17.2.8.2 Product Portfolio
17.2.8.3 Demographic Reach and Achievements
17.2.8.4 Certifications
17.2.9 Prakash Foods
17.2.9.1 Company Overview
17.2.9.2 Product Portfolio
17.2.9.3 Demographic Reach and Achievements
17.2.9.4 Certifications
17.2.10 Golden Prize India
17.2.10.1 Company Overview
17.2.10.2 Product Portfolio
17.2.10.3 Demographic Reach and Achievements
17.2.10.4 Certifications
18 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Fish Market: Key Industry Highlights, 2018 and 2032
2. India Fish Market: Key Industry Highlights, 2018 and 2032
3. India Fish Historical Market: Breakup by Product (USD Million), 2018-2023
4. India Fish Market Forecast: Breakup by Product (USD Million), 2024-2032
5. India Fish Historical Market: Breakup by Fish Type (USD Million), 2018-2023
6. India Fish Market Forecast: Breakup by Fish Type (USD Million), 2024-2032
7. India Fish Historical Market: Breakup by Distribution Channel (USD Million), 2018-2023
8. India Fish Market Forecast: Breakup by Distribution Channel (USD Million), 2024-2032
9. India Fish Historical Market: Breakup by Sector (USD Million), 2018-2023
10. India Fish Market Forecast: Breakup by Sector (USD Million), 2024-2032
11. India Fish Historical Market: Breakup by Region (USD Million), 2018-2023
12. India Fish Market Forecast: Breakup by Region (USD Million), 2024-2032
13. Major Importing Countries by Volume
14. Major Exporting Countries by Volume
15. Major Importing Countries by Value
16. Major Exporting Countries by Value
17. India Fish Market Structure
In 2023, the India fish market attained a value of nearly INR 1,881.84 billion.
The market is projected to grow at a CAGR of 11% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach about INR 4,813.81 billion by 2032.
The major drivers of the market are rising disposable incomes, increasing population, rise in the consumption of protein-rich foods, and growing domestic demand for fish-based food products.
The key trends guiding the growth of the market is the ease in the accessibility of processed fish products, including canned and frozen, due to the growth of the organised food retail sector and rising health awareness.
The major regions in the market are West Bengal, Andhra Pradesh, Karnataka, Kerala, Gujarat, Tamil Nadu, and Maharashtra, among others.
Inland fishes, marine fishes, shrimps, and scampi are the various fish types available in the market.
The major product types in the market are fresh, frozen, and canned, among others.
The significant distribution channels of fish are retail, institutional and HoReCa.
The organised and unorganised segments are the major sectors in the market.
The major players in the market are Silver Sea Food, Abad Fisheries Private Limited, Seasaga Group, Geo Seafood, Apex Frozen Foods Ltd, Kirti Foods, Munnujii Foods International Pvt. Ltd, Oceans Secret, Prakash Foods, and Golden Prize India, among others.
West Bengal is India’s one of the biggest fish market.
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