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The India aquafeed market grew at a CAGR of around 8% during 2015-2020. 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.
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. On account of these factors, the India aquafeed market is expected to continue its moderate growth during the forecast period (2021-2026).
IMARC Group provides an analysis of the key trends in each sub-segment of the India aquafeed market report, along with forecasts for growth at the region level from 2021-2026. Our report has categorized the market based on region, species, ingredients, additives and product form.
Breakup by Species:
Breakup by Ingredients:
Breakup by Additives:
Breakup by Product Form:
Breakup by Region:
The competitive landscape of the industry has also been examined along with the profiles of the key players.
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