As per the latest report by IMARC Group, titled “India Aqua Inputs and Supplements (for Shrimp) Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2020-2025”, the India aqua inputs and supplements (for shrimp) market size reached INR 2.5 Billion in 2019. Aqua inputs and supplements are chemicals substances that provide a healthy environment to shrimp by neutralizing the imbalance of minerals and vitamins in soil, water and feed. They also reduce the expenditure incurred during shrimp farming, enabling healthy harvest and higher profit margins. In India, with the rising awareness among farmers about the benefits offered by organic inputs and supplements, there has been a rise in their demand. Farmers utilize them to minimize the negative environmental impact on the animals and develop high-quality shrimp with ‘organic’ status to meet the stringent international certifications.
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India Aqua Inputs and Supplements (for Shrimp) Market Trends:
Over the years, there has been a significant rise in shrimp consumption and export potential in India. This has encouraged farmers to use efficient and improved aqua inputs and supplements to meet the growing shrimp demand. These inputs and supplements help prevent the frequent breakout of disease and reduce the growth of pathogenic organisms. Along with this, the stringent global quality norms have prompted farmers to use commercial aquaculture farm inputs to ensure optimum shrimp health. Besides this, the Government of India is undertaking several initiatives and organizing training programs to promote the use of aqua inputs and supplements across the country. For instance, government bodies, such as the Marine Products Exports Development Authority (MPEDA), is supporting shrimp culture through the cluster farming approach. More than 10,000 farmers have been organized into aqua societies, which help them access credit, quality seeds, feeds and other inputs, thereby reducing the burden of diseases and improving product quality. On account of these factors, the market is expected to exhibit double-digit growth during the forecast period (2020-2025).
Market Summary:
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