According to the latest report by IMARC Group, titled "India Aqua Inputs and Supplements (for Shrimps) Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028," the India aqua inputs and supplements (for shrimps) market is expected to grow at a CAGR of 12.5% during 2023-2028. Aqua inputs and supplements are identified as a range of chemical substances and antibiotics used for providing a healthy environment to shrimps by neutralizing minerals and vitamins in soil, water, and feed. It entails probiotics, disinfectants, zeolites, oxygen enhancers, immunostimulants, liming materials, and organic and inorganic fertilizers. These components assist in protecting shrimps from vibriosis and other bacteria, mitigating disease outbreaks during the farming procedure, and improving shrimp feed conversion ratio (FCR) and immunity. On account of these properties, aqua inputs and supplements are extensively used by farmers to reduce the expenditure incurred during shrimp farming and enable a healthy harvest to generate higher profit margins.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
India Aqua Inputs and Supplements (for Shrimps) Market Trends:
The increasing demand for shrimps for various commercial and consumption purposes and the rising need for effective aqua enhancements to promote their large-scale production for export purposes are primarily driving the market growth. In line with this, the rising consciousness amongst consumers regarding several beneficial properties associated with utilizing organic aqua inputs and supplements is acting as another growth-inducing factor. Additionally, favorable initiatives undertaken by the Government of India (GoI) to organize multiple shrimp farming training programs and promote the uptake of aqua inputs and supplements for supporting the cluster farming approaches are supporting the market growth. This can be further attributed to the establishment of aqua societies, which allows Indian farmers to access credit, quality seeds, feeds, and other medicines for enhancing product quality while reducing the risk of pathogens outbreaks. Moreover, the advent of advanced medications, drugs, supplements, and commercial aquaculture farm inputs to maintain shrimp health is contributing to the market growth. Apart from this, the escalating usage of shrimps for preparing various protein-rich seafood delicacies and the introduction of improved chemical products targeting shrimp production are creating a positive outlook for the market growth.
- On the basis of the end-use, the market has been segregated into feed and disease, water management, and soil management.
- Based on the product type, the market has been segmented into probiotics, vitamins and mineral supplement, growth promoter, disinfectant, oxygen enhancer, zeolite, immunostimulant, liming material, organic/inorganic fertilizers, and others.
- On state basis, the market has been segmented into Andhra Pradesh, West Bengal, Odisha, and Gujarat.
- The competitive landscape of the industry has also been examined, with some of the key players being Bayer CropScience Limited, Biostadt India Limited, C. P. Aquaculture (INDIA) Private Limited, Growel Formulations Pvt. Ltd., Gentle Bio-Sciences Pvt. Ltd., Hi-Tech Pharma, Intas Animal Health, Kemin Industries South Asia Pvt. Ltd, Neospark Drugs and Chemicals Private Limited, Poseidon Biotechnology, PVS Group, Srinivasa Cystine Pvt. Ltd., Sanzyme Biologics, SDC Agro-Vet India Pvt. Ltd., DeVee Biologicals Pvt. Ltd., Synergy Biotechnologies and Virbac Animal Health India Private Limited.
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