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The latest report by IMARC Group, titled “India Aquaculture Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” finds that the India aquaculture market size reached 11.40 Million Tons in 2021. Aquaculture, also known as aquafarming, is a controlled process of breeding, rearing, harvesting, and cultivating fish, shellfish, algae, and other aquatic organisms. It can be conducted in artificial facilities built on fish tanks, ponds, aquaponics, and raceways or on well-sheltered shallow water bodies. Aquaculture also includes the production of ornamental fishes to support recreational and commercial fisheries. India possesses a vast potential for aquaculture with a vast coastline of 7,500 kilometers, 2.36 million hectares of ponds and tanks, and a brackish water area of 1.1 million, offering immense opportunities for aquaculture in both marine and inland waters.
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 Aquaculture Market Trends:
The increasing consumption of fish due to numerous health benefits is one of the key factors driving the market growth. In addition, the shifting consumer preferences from high-calorie meat products toward a protein-rich diet, including fish, shrimps, and mollusks, represents another major growth-inducing factor. Apart from this, the Government of India is undertaking various initiatives, such as Pradhan Mantri Matsya Sampada Yojana, to establish a comprehensive framework and reduce infrastructural gaps in the fisheries sector. This, coupled with the rising number of hatcheries, feed mills, and processing plants, is fueling the aquaculture market in the country. Moreover, several key players are adopting innovative solutions for the domestication and in-house cultivation of ornamental fish species in artificial environments for recreational and commercial purposes, which in turn, is contributing to the market growth. Furthermore, the introduction of sustainable cultivation systems, which aim at protecting the ecosystem and biodiversity while reducing pollution, is anticipated to propel the market growth in India. Looking forward, IMARC Group expects the market value to reach 18.40 Million Tons by 2027, exhibiting a CAGR of 8.20% during the forecast period (2022-2027).
Market Summary:
India shrimp industry
India Inland Fish Industry:
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