Indian Shrimp Feed Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027

Indian Shrimp Feed Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027

Report Format: PDF+Excel | Report ID: SR112023A942
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Market Outlook 2022-2027

The Indian shrimp feed market reached a value of US$ 1.2 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 3.7 Billion by 2027, exhibiting a CAGR of 19.5% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic. These insights are included in the report as a major market contributor.

Shrimp feed is formulated using soybean meal, cereal flour, fish and squid meal, lecithin, and yeast that help meet the nutritional requirements of farmed shrimp. It is fortified with the required levels of essential amino acids, vitamins, minerals, fatty acids, carbohydrates, and nutrients. It helps improve shrimp production and profits and minimizes the environmental pollution from shrimp farming. At present, several product manufacturers are focusing on introducing premium shrimp feed with enhanced water stability, nutrition density, and palatability. 

 

 
 

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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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Indian Shrimp Feed Market Trends:

The rising prevalence of obesity, eye problems, cardiovascular diseases, and skin cancer is catalyzing the demand for shrimp in India. This, along with the rising consumption of seafood due to the increasing awareness among individuals about the health benefits associated with seafood consumption, is contributing to the market growth. In addition, the easy availability of healthy and disease-free shrimp represents one of the key factors driving the demand for shrimp feed in the country. Apart from this, India is one of the biggest exporters of fresh and frozen shrimp products worldwide due to the easy availability of land and labor and comparatively lower shrimp farming cost. The inflating disposable income levels and rising expenditure capacity of individuals are also strengthening the market growth. This, in confluence with the increasing utilization of shrimp in the food and beverage (F&B) industry, is creating a positive outlook for the market. Additionally, the rising popularity of regional and international cuisines, coupled with the emerging trend of food vlogging, is driving the demand for shrimp products in the country. Furthermore, the Government of India (GoI) is introducing numerous initiatives to promote organic shrimp farming practices due to increasing environmental concerns, which is offering lucrative growth opportunities to market players operating in the country. Moreover, several manufacturers are introducing shrimp feed formulated without artificial ingredients. They are also focusing on strategic collaborations with international players to launch innovative product variants in different packaging solutions. The expansion of online and offline distribution channels selling a wide range of shrimp feeds is expected to propel the market further.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the Indian shrimp feed market, along with forecasts at the country and state level from 2022-2027. Our report has categorized the market based on type, ingredient, and additives.

Breakup by Type:

 

 
 

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  • Starter Grade
  • Grower Grade
  • Finisher Grade
     

The grower grade currently dominates the market as it finds extensive applications in formulating shrimp feed to improve shrimp production and increase profits.

Breakup by Ingredient:

  • Fish Meal
  • Fish Oil
  • Wheat Flour
  • Soybean
  • Others
     

Wheat flour is the main ingredient used in preparing shrimp feed as it is a good source of carbohydrates and the gluten content of the flour acts as a natural binder in aquatic feed.

Breakup by Additives:

  • Vitamin and Protein
  • Fatty Acid
  • Antibiotics
  • Antioxidant
  • Feed Enzyme and Others
     

Vitamin and protein exhibit a clear dominance in the market as they help improve the quality of feed and enhance the feed intake, stability, and better shrimp growth.

Regional Insights:

  • Andhra Pradesh
  • West Bengal
  • Tamil Nadu and Pondicherry
  • Gujarat
  • Odisha
  • Maharashtra
  • Others
     

Andhra Pradesh enjoys the leading position in the market as it is the largest producer and exporter of shrimp in the country.

Competitive Landscape: The competitive landscape of the industry has also been examined along with the profiles of the key players.

This report provides a deep insight into the Indian shrimp feed market covering all its essential aspects. This ranges from a macro overview of the market to micro details of the industry performance, recent trends, key market drivers and challenges, SWOT analysis, Porter’s five forces analysis, value chain analysis, etc. This report is a must-read for entrepreneurs, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the Indian shrimp feed industry in any manner.

Report Coverage:

Report Features Details
Base Year of the Analysis 2021
Historical Period 2016-2021
Forecast Period 2022-2027
Units US$ Billion, Tons
Segment Coverage Type, Ingredient, Additives, State
States Covered  Andhra Pradesh, West Bengal, Tamil Nadu and Pondicherry, Gujarat, Odisha, Maharashtra, Others
Customization Scope 10% Free Customization
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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)

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Indian Shrimp Feed Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027
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