According to the latest report by IMARC Group, titled “Indian Fish Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” the Indian fish market reached a volume of 17.4 Million Tons in 2021. Fishing is practiced along the entire length of the Indian coastline as well as at the banks of many rivers flowing across the country. It covers numerous activities such as the capturing, culturing, preserving, transporting, processing, marketing or selling of fish and other related products. The Indian fish industry plays a vital role in providing employment, livelihood and food security across the region. In addition, the industry is a major contributor to the country’s overall exports of food products. A shift towards mechanization and the adoption of modern methods for fish processing are currently promoting fish production in India.
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.
Fishes are perceived as a rich source of digestible protein and polyunsaturated fatty acids, owing to which their demand is increasing among health-conscious consumers. Moreover, the country has emerged as a major exporter of frozen shrimp and fish products to numerous international markets. However, a significant part of the total area available for fishing activities is still left unutilized in the country. This untapped growth potential has made the Indian fish industry an attractive market for foreign investors. Apart from this, the presence of fishing infrastructure and liberalized policies and regulations are also supporting the inflow of foreign investments. Looking forward, the market volume is projected to reach 29 Million Tons by 2027, expanding at a CAGR of 8.9% during 2022-2027.
- On the basis of fish type, the market is categorized into inland fishes, marine fishes, shrimp and scampi. Amongst these, inland fishes are the most popular fish type. Inland aquaculture is a major fish production system in the country owing to various initiatives by the Government.
- Based on product type, the market has been segregated into fresh, frozen, canned and others. Amongst these, fresh fish currently represents the largest segment owing to their easy availability in wet markets.
- The fish market in India has been segmented on the basis of distribution channel which include retail and institutional sales.
- On the basis of sector, the market has been segregated into unorganised and organised sectors.
- State-wise, the market is divided into West Bengal, Andhra Pradesh, Karnataka, Kerala, Gujarat, Tamil Nadu and Maharashtra. Currently, West Bengal accounts for the majority of the fish production in India, accounting for the largest market share.
- The competitive landscape of the Indian fish industry has also been examined with the detailed profiles of the key players.
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