India Aquafeed Market Size, Share, Growth and Forecast 2023-2028

India Aquafeed Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Report Format: PDF+Excel | Report ID: SR112023A3170

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Market Overview:

The India aquafeed market size reached 1.6 Million Tons in 2022. Looking forward, IMARC Group expects the market to reach 2.8 Million Tons by 2028, exhibiting a growth rate (CAGR) of 9.7% during 2023-2028.

India represents one of the leading aquaculture markets across the globe on account of the rich biodiversity of aquatic species. Consequently, there is a high demand for aquafeed in the country to meet the growing need of aquaculture farmers and the expanding export businesses.

Note: Information in the above chart consists of dummy data and is only shown here for representation purpose. Kindly contact us for the actual market size and trends.

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With increasing disposable incomes, growing health consciousness and improving cold chain facilities, seafood sales have expanded from local wet markets to organized retail channels, such as supermarkets. This represents one of the key factors fueling the growth of the aquafeed market in India. Moreover, the growing trend of natural and organic feeds has prompted manufacturers to incorporate high-quality raw materials that offer functional advantages and lower the usage of synthetic components. They are also enhancing the stability of feed pellets, reducing fine proportion, and improving pellets density and extension. Another major factor driving the industry growth is t significant shift from homemade feed to commercially available product variants. Along with enhancing the bioavailability of various nutrients, the commercial feed also helps in reducing environmental pollution and increasing profit margins. Furthermore, the Government of India is offering various subsidies for fish and shrimp farmers, which in turn is stimulating the growth of the aquafeed industry.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the India aquafeed market report, along with forecasts at the country and regional level from 2023-2028. Our report has categorized the market based on species, ingredients, additives and product form.

Breakup by Species:

Carp Feeds
Marine Shrimps
Tilapias
Catfishes
Marine Fishes
Salmons
Freshwater (FW) Crustaceans
Trouts
Others

Breakup by Ingredients:

Note: Information in the above chart consists of dummy data and is only shown here for representation purpose. Kindly contact us for the actual market size and trends.

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Soybean
Corn
Fish Meal
Fish Oil
Additives
Others

Breakup by Additives:

Vitamins and Minerals
Antioxidants
Feed Enzymes
Others

Breakup by Product Form:

Pellets
Extruded
Powdered
Liquid

Breakup by Region:

North India
West and Central India
South India
East India

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players being Alltech Biotechnology Pvt. Ltd. (Alltech, Inc.), Avanti Feeds Limited, Cargill India Private limited (Cargill Inc.), Godrej Agrovet Limited (Godrej Group), Growel Feeds Private Limited, IB Group, Skretting Aquaculture India Private Limited (Nutreco NV) and UNO Feeds.

Report Coverage:

Report Features	Details
Base Year of the Analysis	2022
Historical Period	2017-2022
Forecast Period	2023-2028
Units	Million Tons
Segment Coverage	Species, Ingredients, Additives, Product Form, Region
Region Covered	North India, West and Central India, South India, East India
Companies Covered	Alltech Biotechnology Pvt. Ltd. (Alltech, Inc.), Avanti Feeds Limited, Cargill India Private limited (Cargill Inc.), Godrej Agrovet Limited (Godrej Group), Growel Feeds Private Limited, IB Group, Skretting Aquaculture India Private Limited (Nutreco NV) and UNO Feeds
Customization Scope	10% Free Customization
Report Price and Purchase Option	Single User License: US$ 2299 Five User License: US$ 3399 Corporate License: US$ 4499
Post-Sale Analyst Support	10-12 Weeks
Delivery Format	PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

Key Questions Answered in This Report

The India aquafeed market reached a volume of 1.6 Million Tons in 2022.

We expect the India aquafeed market to exhibit a CAGR of 9.7% during 2023-2028.

The growing consumer inclination towards incorporating seafood, such as tuna, crab, shrimp, etc., in their daily diet, along with the widespread adoption of natural resources and sustainable raw materials by leading manufacturers to produce aquafeed, is primarily driving the India aquafeed market.

The sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent lockdown regulations across the nation, resulting in the temporary halt in various aquaculture activities and restrictions on the export and import of seafood.

Based on the species, the India aquafeed market can be segregated into carp feeds, marine shrimps, tilapias, catfishes, marine fishes, salmons, Freshwater (FW) crustaceans, trouts, and others. Currently, carp feeds hold the majority of the total market share.

Based on the ingredients, the India aquafeed market has been bifurcated into soybean, corn, fish meal, fish oil, additives, and others. Among these, soybean currently exhibits a clear dominance in the market.

Based on the product form, the India aquafeed market can be categorized into pellets, extruded, powdered, and liquid. Currently, pellets account for the largest market share.

On a regional level, the market has been classified into North India, West and Central India, South India, and East India, where South India currently dominates the India aquafeed market.

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