India Shrimp Feed Market Report and Forecast 2024-2032

India Shrimp Feed Market Outlook

The India shrimp market attained a volume of 1.53  million tons in 2023. The market is further expected to grow at a CAGR of 10% between 2024 and 2032.

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Andhra Pradesh Leading the India Shrimp Feed Market

The shrimp feed industry in India is highly structured as the shrimp feed industry caters to the export market. Farmers are expected to maintain certain quality levels and are more likely to choose a more proven feed brand. Andhra Pradesh is the leading region for shrimp feed in India, having the largest market share in the country, followed by West Bengal.

India is increasingly emerging as a major producer of commercial feed from traditional conventional feed consisting of rice/wheat bran and groundnut cake to other agricultural products. The flourishing Indian aquaculture industry also acts as one of the biggest advantages for aquaculture feed producers. India has around 26 aqua feed mills spread across the region. India imports more than 50% of aqua feed from other countries, so there is considerable scope for the domestic production of aquafeed. These factors are likely to boost the growth of the shrimp feed market in India in the forecast period.

Shrimp Feed: Market Segmentation

Shrimp feed helps to maintain the necessary amounts of essential amino acids, vitamins, minerals, fatty acids, and other critical nutrients. Some of the commonly included ingredients in shrimp feed are fish and squid meal, fish oil, lecithin, cereal flour, and other essential and proprietary additives. The use of high quality feed helps to increase shrimp production, income, and minimise the environmental pollution caused by shrimp farming.

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Based on type, the industry can be divided into:

• Grower
• Finisher
• Starter

On the basis of ingredients, the market can be categorised as follows:

• Soybean Meal
• Fish Meal
• Wheat Flour
• Fish Oil
• Others

The additives of shrimp feed can be segmented as follows:

• Vitamins and Proteins
• Fatty Acids
• Antioxidants
• Feed Enzymes
• Antibiotics
• Others

The regional markets for shrimp feed can be divided into Andhra Pradesh, West Bengal, Tamil Nadu and Pondicherry, Gujarat, Odisha, and Maharashtra.

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Rising Marine Industry Bolstering the Market Growth

The growth of the shrimp feed market in India is being driven by the vast marine wealth in India that underpins the development of the aquaculture sector. In addition, the market is also affected by the commercialisation of vannamei shrimp, backed by a sustained demand from both developed and developing countries. The production and export of vannamei have exceeded the native species of shrimps, such as the black tiger, which had been cultivated dominantly until 2003. This is another aspect that facilitates the market growth for shrimp feed in the country. In addition, the availability of improved product varieties and the shift towards the use of commercially processed shrimp feed have further contributed to the growth of this industry.

Key Industry Players in the India Shrimp Feed Market

The report gives a detailed analysis of the following key players in the India shrimp feed market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:

• CPF (India) Private Limited
• Coastal Feeds
• Godrej Agrovet
• Grobest
• Growel Feeds PVT. LTD.
• Avanti Feeds Limited
• The Waterbase Limited
• Others

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