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Indian Shrimp Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024

Shrimp is a small free-swimming invertebrate marine animal with an elongated body. The muscular tails of some shrimp species are edible for humans, as a result of which they are widely caught and farmed for human consumption. India has a long coastline, and hence offers scope for large exploitation of marine wealth. Catching of shrimp began in India in the seventies, due to higher returns on account of their export value. These initiatives led to the establishment of commercial hatcheries and shrimp farms in the private sector marking the golden period of tiger shrimp farming in India. According to the latest report by IMARC Group, “Indian Shrimp Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024”, the Indian shrimp market reached a volume of 0.67 Million Tons in 2018.

Easy availability of shrimp and their high nutritional content represent the major growth-inducing factors. They form an important part of various cuisines being one of the most traded seafood species. With the rise in demand for disease-free and healthy shrimp, India has become the largest shrimp exporter to the US and the European Union. Apart from this, increasing health consciousness among the consumers along with rising disposable incomes and improving standards of living are some of the other factors leading to the rise in demand for Indian shrimp. Despite of the presence of numerous growth inducing factors, the market is restrained by outbreak of diseases, adverse weather conditions and infrastructure challenges. Further, the market is expected to reach a volume of 1.13 Million Tons by 2024, exhibiting a CAGR of 9.4% during 2019-2024.

The report has segmented the Indian shrimp market on the basis of species. Presently, Penaeus Vannamei (White-leg shrimp) dominates the total shrimp production in India, followed by Penaeus Monodon (Black Tiger Shrimp). Based on the shrimp size, the market has been segmented into 31-40, 41-50, 51-60, 61-70, >70 and others. Currently, the range 31-40 represents the leading segment and is followed by the ranges 41-50 and 51-60. The market is further segmented on a regional basis, covering Andhra Pradesh, West Bengal, Gujarat and others. Amongst these, Andhra Pradesh represents the largest state in the shrimp production with more than a half share in the total production.

This report provides a deep insight into the Indian shrimp market covering all its essential aspects. This ranges from 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. The report also provides a comprehensive analysis for setting up a shrimp processing plant. The study analyses the processing and manufacturing requirements, project cost, project funding, project economics, expected returns on investment, profit margins, 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 industry in any manner.

Key Questions Answered in This Report:

  • How has the Indian shrimp market performed so far and how will it perform in the coming years?
  • What are the key regions in the Indian shrimp market?
  • What are the key species in the Indian shrimp market?
  • What are the price trends of Indian shrimp?
  • What are the export trends of Indian shrimp?
  • What are the various stages in the value chain of the Indian shrimp industry?
  • What are the key driving factors and challenges in the Indian shrimp industry?
  • What is the structure of the Indian shrimp industry and who are the key players?
  • What is the degree of competition in the Indian shrimp industry?
  • What are the profit margins in the Indian shrimp industry?
  • What are the key requirements for setting up shrimp processing plant?
  • How is shrimp processed?
  • What are the various unit operations involved in a shrimp processing plant?
  • What is the total size of land required for setting up a shrimp processing plant?
  • What are the machinery requirements for setting up a shrimp processing plant?
  • What are the raw material requirements for setting up a shrimp processing plant?
  • What are the packaging requirements for shrimp?
  • What are the transportation requirements for shrimp?
  • What are the utility requirements for setting up a shrimp processing plant?
  • What are the manpower requirements for setting up a shrimp processing plant?
  • What are the infrastructure costs for setting up a shrimp processing plant?
  • What are the capital costs for setting up a shrimp processing plant?
  • What are the operating costs for setting up a shrimp processing plant?
  • What will be the income and expenditures for a shrimp processing plant?
  • What is the time required to break-even?

1    Preface
2    Scope and Methodology

    2.1    Objectives of the Study
    2.2    Stakeholders
    2.3    Data Sources
        2.3.1    Primary Sources
        2.3.2    Secondary Sources
    2.4    Market Estimation
        2.4.1    Bottom-Up Approach
        2.4.2    Top-Down Approach
    2.5    Forecasting Methodology
3    Executive Summary
4    Introduction

    4.1    Overview
    4.2    Key Industry Trends
5    Global Shrimp Industry
    5.1    Market Overview
    5.2    Market Performance
    5.4    Major Shrimp Producing Countries
    5.5    Major Shrimp Consuming Countries
    5.6    Market Breakup by Species
    5.7    Market Breakup by Shrimp Size
    5.8    Trade Data
    5.9    Market Forecast
6 Indian Shrimp Industry 
    6.1 Indian Shrimp Aquaculture: Potential of Various States 
        6.1.1 Area Under Shrimp Cultivation: Current and Historical Market Trends 
        6.1.2 Shrimps as a Part of the Seafood Industry
    6.2 Market Overview 
    6.3 Market Performance 
        6.3.1 Volume Trends 
        6.3.2 Value Trends
    6.4 Market Breakup by Species
        6.4.1 Penaeus Monodon (Black Tiger Shrimp)
            6.4.1.1 Market Trends 
            6.4.1.2 Market Forecast
        6.4.2 Penaeus Vannamei (White-leg Shrimp)
            6.4.2.1 Market Trends 
            6.4.2.2 Market Forecast
        6.4.3 Others
            6.4.3.1 Market Trends 
            6.4.3.2 Market Forecast
    6.5 Market Breakup by Shrimp Size 
        6.5.1 Size 31-40 
            6.5.1.1 Market Trends 
            6.5.1.2 Market Forecast
        6.5.2 Size 41-50 
            6.5.2.1 Market Trends 
            6.5.2.2 Market Forecast
        6.5.3 Size 51-60 
            6.5.3.1 Market Trends 
            6.5.3.2 Market Forecast
        6.5.4 Size 61-70 
            6.5.4.1 Market Trends 
            6.5.4.2 Market Forecast
        6.5.5 Size >70 
            6.5.5.1 Market Trends 
            6.5.5.2 Market Forecast
        6.5.6 Others 
            6.5.6.1 Market Trends 
            6.5.6.2 Market Forecast
    6.6 Market Breakup by State
        6.6.1 Black Tiger Shrimp Production by States
        6.6.2 White-Leg Shrimp Production by States
    6.7 West Bengal Shrimp Market 
        6.7.1 Penaeus Monodon (Black Tiger Shrimp) Market 
        6.7.2 Penaeus Vannamei (White-Leg Shrimp) Market 
        6.7.3 Initiatives by the Government of West Bengal 
    6.8 Gujarat Shrimp Market 
        6.8.1 Penaeus Monodon (Black Tiger Shrimp) Market 
        6.8.2 Penaeus Vannamei (White-Leg Shrimp) Market 
        6.8.3 Initiatives by the Government of Gujarat 
    6.9 Andhra Pradesh Shrimp Market 
        6.9.1 Penaeus Monodon (Black Tiger Shrimp) Market 
        6.9.2 Penaeus Vannamei (White-Leg Shrimp) Market 
        6.9.3 Initiatives by the Government of Andhra Pradesh
    6.10 Trade Data 
    6.11 Market for Value Added Shrimp Products
        6.11.1 Market Overview 
        6.11.2 Market Performance 
        6.11.3 Market Breakup by Type 
        6.11.4 Market Forecast 
   6.12    Price Trends
        6.12.1 Price Trends
        6.12.2 Price Indicators
        6.12.3 Price Structure
    6.13    SWOT Analysis
        6.13.1 Strengths
        6.13.2 Weaknesses
        6.13.3 Opportunities
        6.13.4 Threats
    6.14    Value Chain Analysis
        6.14.1    Broodstock & Hatchery
        6.14.2    Shrimp Harvesting
        6.14.3    Auction
        6.14.4    Peeling/Pre-processing
        6.14.5    Large Scale Industrial Processing
        6.14.6    Domestic Market 
        6.14.7    Exports
    6.15    Porter’s Five Forces Analysis
        6.15.1   Overview
        6.15.2   Bargaining Power of Buyers
        6.15.3   Bargaining Power of Suppliers
        6.15.4   Degree of Rivalry
        6.15.5   Threat of New Entrants
        6.15.6   Threat of Substitutes
    6.16    Key Market Drivers and Success Factors
  7 Shrimp Processing
        7.1 Product Overview
        7.2 Detailed Process Flow
        7.3 Various Types of Unit Operations Involved
        7.4 Mass Balance and Raw Material Requirements
  8 Project Details, Requirements and Costs Involved
        8.1    Land Requirements and Expenditures
        8.2    Construction Requirements and Expenditures
        8.3    Plant Machinery
        8.4    Machinery Pictures
        8.5    Raw Material Requirements and Expenditures
        8.6    Raw Material and Final Product Pictures
        8.7    Packaging Requirements and Expenditures
        8.8    Transportation Requirements and Expenditures
        8.9    Utility Requirements and Expenditures
        8.10    Manpower Requirements and Expenditures
        8.11    Other Capital Investments
   9   Loans and Financial Assistance
  10    Project Economics

        10.1    Capital Cost of the Project
        10.2    Techno-Economic Parameters
        10.3    Product Pricing and Margins Across Various Levels of the Supply Chain
        10.4    Taxation and Depreciation
        10.5    Income Projections
        10.6    Expenditure Projections
        10.7    Financial Analysis
        10.8    Profit Analysis
  11    Competitive Landscape 
        11.1 Competitive Structure
        11.2 Capacities of Key Players 
        11.3 Key Player Profiles 

List of Figures

Figure 1: Global: Shrimp Industry Overview
Figure 2: Global: Shrimp Market: Volume Trends (in Million Tons), 2011 - 2018
Figure 3: Global: Shrimp Market: Value Trends (in Billion US$), 2011 - 2018
Figure 4: Global: Shrimp Market: Production Breakup by Region (in %), 2018
Figure 5: Global: Shrimp Market: Consumption Breakup by Region (in %), 2018
Figure 6: Global: Shrimp Market: Breakup by Species (in %), 2018
Figure 7: Global: Shrimp Market: Breakup by Size (in %), 2018
Figure 8: Global: Processed Shrimp Imports Market: Breakup by Product Type (in %), 2018
Figure 9: Global: Shrimp Market Forecast: Volume Trends (in Million Tons), 2011 - 2018
Figure 10: Global: Shrimp Market Forecast: Value Trends (in Billion US$), 2011 - 2018
Figure 11: India: Shrimp Production: Area Under Shrimp Cultivation (in Million Hectares), 2011 – 2018E
Figure 12: India: Seafood Export Market: Frozen Shrimp Market Share (in %), 2018
Figure 13: India: Shrimp Market: Production Volume (in Million Tons), 2011 - 2018
Figure 14: India: Shrimp Market: Production Value (in Million US$), 2011 - 2018
Figure 15: India: Shrimp Market: Average Prices (in US$/Kg), 2011-2018
Figure 16: India: Shrimp Market Forecast: Average Prices (in US$/Kg), 2019-2024
Figure 17: India: Shrimp Market: Breakup by Species (in %), 2018
Figure 18: India: Shrimp Market: Breakup by Export and Domestic Consumption (in %), 2017
Figure 19: India: Shrimp Market: Production Breakup by States (in %), 2018
Figure 20: India: Tiger Shrimp Market: Production Breakup by State (in %), 2018
Figure 21: India: White-Leg Shrimp Market: Production Breakup by State (in %), 2018
Figure 22: India: Shrimp Market: Export Volume Breakup by Country (in %), 2017
Figure 23: India: Shrimp Market: Export Volume Breakup by State (in %), 2017
Figure 24: India: Shrimp Market Forecast: Production Volume (in Million Tons), 2019 - 2024
Figure 25: India: Shrimp Market Forecast: Production Value (in Million US$), 2019 - 2024
Figure 26: India: Shrimp Market: SWOT Analysis
Figure 27: India: Shrimp Processing Industry: Value Chain Analysis
Figure 28: Shrimp Industry: Porter’s Five Forces Analysis
Figure 29: India: Shrimp Market (Black Tiger Shrimp): Production Volume (in Million Tons), 2011 - 2018
Figure 30: India: Shrimp Market Forecast (Black Tiger Shrimp): Production Volume (in Million Tons), 2019 – 2024
Figure 31: India: Shrimp Market (White-leg Shrimp): Production Volume (in Million Tons), 2011 - 2018
Figure 32: India: Shrimp Market Forecast (White-leg Shrimp): Production Volume (in Million Tons), 2019 - 2024
Figure 33: India: Shrimp Market (Other Species): Production Volume (in Million Tons), 2011 - 2018
Figure 34: India: Shrimp Market Forecast (Other Species): Production Volume (in Million Tons), 2019 – 2024
Figure 35: India: Shrimp Market (in Size of 31-40): Production Volume (in Million Tons), 2011 - 2018
Figure 36: India: Shrimp Market Forecast (in Size of 31-40): Production Volume (in Million Tons), 2019 – 2024
Figure 37: India: Shrimp Market (in Size of 41-50): Production Volume (in Million Tons), 2011 - 2018
Figure 38: India: Shrimp Market Forecast (in Size of 41-50): Production Volume (in Million Tons), 2019 - 2024
Figure 39: India: Shrimp Market (in Size of 51-60): Production Volume (in Million Tons), 2011 - 2018
Figure 40: India: Shrimp Market Forecast (in Size of 51-60): Production Volume (in Million Tons), 2019 – 2024
Figure 41: India: Shrimp Market (in Size of 61-70): Production Volume (in Million Tons), 2011 - 2018
Figure 42: India: Shrimp Market Forecast (in Size of 61-70): Production Volume (in Million Tons), 2019 - 2024
Figure 43: India: Shrimp Market (in Size of >70): Production Volume (in Million Tons), 2011 - 2018
Figure 44: India: Shrimp Market Forecast (in Size of >70): Production Volume (in Million Tons), 2019 - 2024 
Figure 45: India: Shrimp Market (in Other Sizes): Production Volume (in Million Tons), 2011 - 2018
Figure 46: India: Shrimp Market Forecast (in Other Sizes): Production Volume (in Million Tons), 2019 - 2024 
Figure 47: Shrimp Processing Plant: Detailed Process Flow
Figure 48: Shrimp Processing: Conversion Rate of Feedstocks
Figure 49: Shrimp Processing Plant: Cooked Shrimp Packaging
Figure 50: Shrimp Processing Plant: Shrimp-Meal Packaging
Figure 51: Shrimp Processing Process:  Breakup of Capital Costs (in %)
Figure 52: Shrimp Industry: Profit Margins at Various Stages of the Supply Chain
Figure 53: Shrimp Processing: Manufacturing Cost Breakup (in %)

List of Tables

Table 1: India: Area Under Shrimp Aquaculture: Present Status and Future Potential
Table 2: India: Frozen Shrimp Market: Export Volumes and Values, 2011 - 2018
Table 3: India: Shrimp Market: Key Industry Highlights, 2018 and 2024
Table 4: India: Shrimp Market Forecast: Breakup by Specie (in Million Tons), 2019 – 2024
Table 5: India: Shrimp Market Forecast: Breakup by Shrimp Size (in Million Tons), 2019 - 2024
Table 6: India: Shrimp Processing Capacity of Various Regions
Table 7: India: West Bengal Shrimp Market: Area Under Culture and Production
Table 8: India: West Bengal Penaeus Monodon (Black Tiger Shrimp) Market: Area Under Culture and Production
Table 9: India: West Bengal Penaeus Vannamei Shrimp (White-Leg Shrimp): Area Under Culture and Production
Table 10: India: Gujarat Shrimp Market: Area Under Culture and Production
Table 11: India: Gujarat Penaeus Monodon (Black Tiger Shrimp) Market: Area Under Culture and Production
Table 12: India: Gujarat Penaeus Vannamei Shrimp (White-Leg Shrimp): Area Under Culture and Production
Table 13: India: Shrimp Market: Competitive Landscape
Table 14: Shrimp Processing Plant: Raw Material Requirements (in Tons/Year
Table 15: Shrimp Processing Plant: Costs Related to Land and Site Development (in US$)
Table 16: Shrimp Processing Plant: Costs Related to Civil Works (in US$)
Table 17: Shrimp Processing Plant: Costs Related to Machinery (in US$)
Table 18: Shrimp Processing Plant: Raw Material Requirements (in Tons/Year) and Expenditures (in US$/Ton)
Table 19: Shrimp Processing Plant: Utility Requirements and Expenditures
Table 20: Shrimp Processing Plant: Costs Related to Salaries and (in US$)
Table 21: Shrimp Processing Plant: Costs Related to Other Capital Investments (in INR)
Table 22: Details of Financial Assistance Offered by Financial Institutions
Table 23: Shrimp Processing Plant: Capital Costs (in US$)
Table 24: Shrimp Processing Plant: Techno-Economic Parameters
Table 25: Shrimp Processing Plant: Taxation (in US$/Year)
Table 26: Shrimp Processing Plant: Depreciation (in US$/Year)
Table 27: Shrimp Processing Plant: Income Projections (in US$)
Table 28: Shrimp Processing Plant: Expenditure Projections (in US$)
Table 29: Shrimp Processing Plant: Cash Flow Analysis Without Considering the Income Tax Liability
Table 30: Shrimp Processing Plant: Cash Flow Analysis on Considering the Income Tax Liability
Table 31: Shrimp Processing Plant: Profit and Loss Account (in US$)

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