Indian Fish Market

Indian Fish Market Size and Share:

The Indian fish market size was valued at 22.32 Million Tons in 2024. Looking forward, IMARC Group estimates the market to reach 43.77 Million Tons by 2033, exhibiting a CAGR of 7.38% from 2025-2033. West Bengal currently dominates the market, holding a market share of over 19.7% in 2024. The Indian fish market is witnessing steady growth, driven by rising domestic consumption, improved aquaculture practices, and government support for fisheries development. Increasing health awareness and demand for protein-rich diets are further fueling the market. Advancements in cold chain logistics and export potential also contribute to industry expansion, strengthening its competitiveness both locally and globally within the evolving landscape of the Indian fish market share.

Increased preference for fish as a source of protein is boosting domestic demand for fish in India. With the heightening health awareness among the population and the demand for healthier food choices, fish is being viewed more and more as a healthy and economical substitute for meat. With its high content of omega-3 fatty acids, vitamins, and minerals, fish is also viewed as an integral part of a healthy diet. This change in diet is especially seen among urban dwellers and the younger generation, who are more willing to experiment with different foods. Moreover, growing concerns about the green advantages of aquaculture compared to terrestrial livestock are also highly making fish popular as a source of protein. For example, in March 2023, Biokraft Foods introduced India's first cultivated rainbow trout fillets in collaboration with ICAR-CICFR, implementing 3D bioprinting technology to provide sustainable, year-round seafood substitutes. Furthermore, as disposable incomes rise, demands for fresh, value-added, ready-to-consume, and packaged fish too are on the rise. All this growing domestic demand is generating momentum for growth in India's fish industry and is driving the levels of consumption and production alike.

Innovation in technology is one of the key drivers of India's fish sector growth. The use of advanced technologies, including automated feeding systems, water quality monitoring equipment, and genetic breeding methods, has transformed the efficiency and viability of fish farming. These technologies allow farmers to monitor and regulate the environment to provide the best conditions for fish development and to minimize the risk of diseases. Also, the deployment of artificial intelligence (AI) and data analytics is improving decision-making in aquaculture to allow producers to forecast market demand and better control inventory. For instance, in March 2023, Corel Lifecare was inaugurated in Mumbai as an aquaculture solutions company providing high-quality, affordable fish health products and serving more than 1500 farmers per week in major Indian aquaculture areas. Moreover, the common use of digital tools for traceability is rising transparency along the supply chain, which improves consumer confidence and demand. With these technologies constantly improving, the production capacity will be amplified, sustainability enhanced, and operational costs minimized, further cementing India's position in the global fish trade.

Indian Fish Market Trends:

Growing Export Potential Propels Market Expansion

India's rising stature as a leading aquatic exporter drives market growth. Given its vast coastline and abundant inland water resources, the nation is well placed to provide a variety of aquatic products to global markets. By embracing stringent quality standards and compliance with international regulations, Indian producers have enhanced global competitiveness. Support by the government through incentives and deliberate collaboration with big seafood-consuming countries adds further boost to these possibilities. The result is robust export-led growth that not only diversifies revenues but also attracts heavy foreign capital. India's exports were at USD 778.21 billion during 2023–24—a 67% jump from USD 466.22 billion in 2013–14, according to the Press Information Bureau. This boom has a multiplier effect, supporting ancillary industries like logistics and shipping. Export-led growth is becoming an anchor pillar of long-term industrial expansion and integration in the marketplace at the international level.

Climate-Resilient Practices Enhance Sustainability

India's aquatic industry has made responding to climate change a core area of focus. With increasing temperatures worldwide—2024 being the hottest year so far at 1.55°C above pre-industrial levels—ecosystems are being put under growing pressure. Fish market size in India is reacting positively by adopting climate-resilient aquaculture practices. These involve breeding heat-tolerant species, building flood-buffer zones, and using advanced monitoring technologies. Such innovations protect against erratic weather patterns while maintaining stable production and biodiversity. Investment in research and sustainable methods has attracted public and private sector interest, signaling a wider commitment to long-term resilience. These adaptive strategies not only ensure operational continuity but also improve the country's reputation as a responsible seafood provider to the global market. By aligning itself with environmental priorities, India is laying a strong foundation for future development while addressing eco-friendly markets and investors looking for sustainable production models.

Government Support and Trade Alliances Drive Growth

India's aquatic industry profits greatly from affirmative government measures toward promoting exports and sustainable production. Measures taken include subsidies for developing infrastructure, facilitation of regulatory processes, and quality control training programs. Such measures enable producers to access global standards and the premium markets. India is also negotiating bilateral trade agreements with high seafood-consuming countries like Japan and the United States. These alliances not only guarantee long-term demand but also strengthen diplomatic and economic relations. The comingling of conducive governance and strategic collaborations provides a reliable and predictable environment for exports, which is requisite for investor optimism. Consequently, companies in the aquatic industry ranging from hatcheries to exporters become more likely to expand operations and innovate. This cooperation of commerce and policy makes sure there is a conducive soil for growth and makes India a trusted stakeholder in the world aquaculture business, thus cementing its competitive edge.

Indian Fish Industry Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the Indian fish market, along with forecast at the country and regional levels from 2025-2033. The market has been categorized based on fish type, product type, distribution channel, and sector.

Analysis by Fish Type:

• Inland Fishes
  • Indian Major Carps
  • Pangasius
  • Exotic Carps
  • Clarias
  • Anabas
  • Rupchanda
  • Tilapia
  • Seabass
  • Others
• Marine Fishes
• Shrimps
• Scampi

Inland fishes stand as the largest component in 2024, holding around 70.3% of the Indian fish market outlook. The inland fishes segment dominates the market primarily due to the vast network of rivers and freshwater bodies across India which provides a natural habitat conducive for inland fishing. Also, government initiatives aimed at boosting aquaculture have led to improved fish farming techniques and better yield in inland waters. Moreover, inland fish varieties like carps are a staple in the local diet, driving domestic demand, and the lower operational costs associated with inland fishing make it more economically viable for local fishermen. Furthermore, the lack of a need for advanced technology and equipment in inland fishing makes it more accessible. Apart from this, shorter supply chains for inland fishes ensure fresher produce, which is a significant factor for consumer preference.

Analysis by Product Type:

• Fresh
• Frozen
• Canned
• Others

Fresh electronics leads the market with around 60.4% of market share in 2024. The fresh segment of the market is primarily driven by consumer preference for freshly caught produce, local culinary traditions, and the perceived nutritional value. This segment also benefits from short supply chains and community markets, ensuring quick turnarounds from catch to consumer. Regulatory measures that focus on maintaining quality also support this segment. Seasonal availability of specific types of fish acts as a variable factor influencing consumer choice and price. Additionally, the rise in awareness regarding the health benefits of fresh fish contributes to Indian fish market growth. Infrastructure developments in cold storage and transportation have started to make an impact but are not yet fully optimized. E-commerce platforms specializing in fresh produce are emerging as new sales channels.

Analysis by Distribution Channel:

• Retail 
• Institutional 

Retail leads the market with around 79.8% of market share in 2024. The retail segment is influenced by consumer convenience, variety, and the ability to buy in controlled quantities. Supermarkets and hypermarkets offer a wide range of products, including processed and packaged fish, appealing to urban consumers. Branding and advertising play a significant role in driving sales in this segment. Loyalty programs and frequent discounts are tactical elements that engage consumers.

Analysis by Sector:

• Organised
• Unorganised

The organized fish market industry in India is dominated by large-scale, registered enterprises comprising suppliers, distributors, and exporters. This industry enjoys well-developed supply chains, strict quality control systems, and regulatory standards compliance. It provides a uniform supply of quality products, instils consumer trust, and enforces hygiene norms.

The unorganized sector includes local retailers, fishermen, and small fish markets that are not formally organized. This sector is plagued by irregular product quality, irregular supply, and minimal compliance with regulatory standards. However, it still caters to regional needs, providing fish at competitive prices, with lower operating costs in many cases.

Analysis by State:

• West Bengal
• Andhra Pradesh
• Karnataka
• Kerala
• Gujarat
• Tamil Nadu
• Maharashtra
• Others

In 2024, West Bengal accounted for the largest market share of over 19.7%. For the West Bengal region, the fish market is deeply ingrained in the local culture and cuisine, making it a high-consumption area for fish. Proximity to both freshwater and saltwater fishing grounds adds to the variety and availability. State-led initiatives for fisheries development, including infrastructure and loans for fish farmers, stimulate the market. However, challenges such as overfishing and environmental degradation also exist, affecting long-term sustainability. Trade routes and export channels to neighbouring countries and states contribute to market dynamics. Additionally, the Bengali diaspora's demand for specific types of fish also impacts imports. Traditional markets coexist with modern retail formats, adding layers to consumer choice. Seasonal and religious festivals significantly drive-up consumption and thereby influence supply chain planning. Furthermore, government interventions in quality control and hygiene standards are increasingly shaping the market. Consumer awareness about sustainable fishing and environmental impact is gradually rising. The intertwining of fish with local traditions and festivals like Durga Puja and Pohela Boishakh creates unique market fluctuations. Overall, the West Bengal region presents a complex interplay of cultural, economic, and environmental factors shaping its fish market.

Competitive Landscape:

The competitive market of Indian fish is characterized by a diversified blend of modern and traditional enterprises. The market is made up of small-scale local fishermen, large aquaculture farms, and new players who specialize in innovative farming practices. Local manufacturers have a commanding share in supplying fresh fish based on their locational advantage over water bodies and the existing customer trust. Meanwhile, aquaculture farms have caught up by expanding production, increasing yields, and providing consistency of supply. The market also has more involvement by technology-based companies embracing new techniques such as automated systems, water quality management, and genetic selection, which improve productivity and quality further. Moreover, regional markets are competitive with players concentrating on species or distinctive farming practices that appeal to local tastes. Demand for processed and value-added fishery products like frozen fish and ready-to-cook is also encouraging producers to compete in responding to shifting consumer tastes as well as propelling industry growth.

The report has also analysed the competitive landscape of the market with some of the key players being:

• Abad Fisheries Private Limited
• Golden Prize India
• Kirti Foods
• Munnujii Foods International Pvt. Ltd.
• Oceans Secret
• Seasaga Group
• Silver Sea Food

Latest News and Developments:

• January 2025: India launched its first organic fisheries cluster in Soreng, Sikkim, under the Pradhan Mantri Matsya Sampada Yojana (PMMSY). This initiative focused on sustainable aquaculture, particularly organic farming of amur carp and other carps, avoiding harmful chemicals and antibiotics.
• October 2024: The Indian government approved an INR 177 crore development plan for the Muthalapozhi fishing harbor in Kerala under the Pradhan Mantri Matsya Sampada Yojana (PMMSY). The project aimed to enhance the harbor's capacity to accommodate 415 mechanized fishing boats, enabling an annual fish import of up to 38,142 tons.
• September 2024: The Ministry of Fisheries launched the "Rangeen Machhli" mobile app to support the ornamental fisheries sector. Developed by ICAR-CIFA under the PMMSY, the app provided multilingual resources on fish care, breeding, and maintenance. It featured a directory of aquarium shops and educational modules, aiming to boost employment and economic growth in ornamental aquaculture by empowering hobbyists, farmers, and retailers with accessible, localized knowledge.
• September 2024: Ooi Yamamoto Shoten, one of the oldest wholesale companies in Japan, announced plans to launch in India, initially specializing in high-quality Japanese fish and seafood products. In India, the company's domestic collaborator, Hybrid Designs Pvt. Ltd., will reportedly act as both the exclusive importer and official retailer.
• February 2024: The Union Cabinet granted a further extension of the Fisheries Infrastructure Development Fund (FIDF) for an additional three years until 2025–2026 under the previously authorized funding of INR 7522.48 crore. The extension of FIDF is expected to accelerate the construction of a number of fishery infrastructures, such as modern fish markets, aquaculture development, fish processing and transportation facilities, integrated cold chains, fishing harbors, and fish landing facilities.

Indian Fish Market Report Scope:

Key Benefits for Stakeholders:

• IMARC’s report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the Indian fish market from 2019-2033.
• The research study provides the latest information on the market drivers, challenges, and opportunities in the Indian fish market.
• The study maps the leading, as well as the fastest-growing, regional markets. It further enables stakeholders to identify the key country-level markets within each region.
• Porter's Five Forces analysis assists stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the Indian fish industry and its attractiveness.
• Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.