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India Fish Market

India Fish Market Share, Size, Growth, Trends, Forecast: By Product: Fresh, Frozen, Canned, Others; By Fish Type: Inland Fishes, Marine Fishes, Shrimps, Scampi; By Distribution Channel: Retail, Institutional and HoReCa; By Sector: Organised, Unorganised; Regional Analysis; Market Dynamics: SWOT Analysis; Competitive Landscape; 2024-2032

India Fish Market Outlook

The India fish market size 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.

 

Key Takeaways

  • India is one of the third largest fish producing countries in the world.
  • Brackish water shrimp aquaculture has experienced significant growth in India, contributing to major export share.
  • Andhra Pradesh is one of the largest fish-producing states in India.

 

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 growth is driven by 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.

 

India Fish Market

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Key Trends and Developments

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 market players 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.

 

India Fish Market Trends

Various health benefits associated with fish consumption are expected to boost their demand 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 market players 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.

 

India Fish Market By Segments

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India Fish Market Segmentation

“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.

 

Meanwhile, 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.

 

India Fish Market Report

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India Fish Market Competitive Landscape

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.

 

Key Highlights of the Report

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:

  • Product
  • Fish Type
  • Distribution Channel
  • Sector
  • Region
Breakup by Product
  • Fresh
  • Frozen
  • Canned
  • Others
Breakup by Fish Type
  • Inland Fishes
  • Marine Fishes
  • Shrimps
  • Scampi
Breakup by Distribution Channel
  • Retail
  • Institutional and HoReCa
Breakup by Sector
  • Organised
  • Unorganised
Breakup by Region
  • North India
  • East and Central India
  • West India
  • South India
Market Dynamics
  • SWOT Analysis
  • Porter's Five Forces Analysis
  • Key Indicators for Demand
  • Key Indicators for Price
Trade Data Analysis
  • Major Exporting Countries
    • By Value
    • By Volume
  • Major Importing Countries
    • By Value
    • By Volume
Competitive Landscape
  • Market Structure
  • Company Profiles
    • Company Overview
    • Product Portfolio
    • Demographic Reach and Achievements
    • Certifications
Companies Covered
  • 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
  • Golden Prize India

 

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India Fish Market Report Snapshots

India Fish Market Size

India Fish Market Trends

India Fish Companies

 

*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.

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

Key Questions Answered in the Report

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.

Analyst Review

The India fish market attained a value of INR 1881.84 billion in 2023, driven by the rising health concern among consumers, escalating disposable incomes, and shifting food habits. Aided by the development of the organised food retail industry, the market is expected to witness a further growth in the forecast period of 2024-2032, growing at a CAGR of 11%. The market is projected to reach INR 4,813.81 billion by 2032.

 

EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the market. Based on fish types, the inland fishes segment accounts for the largest market share. On the basis of product, the market is categorised into fresh, frozen, and canned, among other segments. On the basis of distribution channels, the market can be bifurcated into retail, institutional and HoReCa segments. Based on sectors, the market is divided into organised and unorganised. The major regional markets for fish in India are North India, East and Central India, West India, and South India. The key players in the above 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.

 

EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition. 

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