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

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

Report Format: PDF+Excel | Report ID: SR112023A849
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Market Outlook 2022-2027:

The Indian shrimp market reached a value of US$ 6.5 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 12.7 Billion by 2027, exhibiting a CAGR of 11.5% 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 is an invertebrate marine animal with an elongated body belonging to the largest class of crustaceans, which are known as Malacostraca. It is generally found in freshwater lakes and streams, and deep and shallow waters. It is a rich source of iron, copper, proteins, selenium, antioxidants, phosphorus, magnesium, and vitamin B12. Consequently, its consumption aids in weight loss, fighting aging, improving bone health, decreasing menstrual pain, and preventing cardiovascular diseases.

 

 
 

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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 Market Trends:

Fisheries represent a significant economic activity in India and offer vast growth opportunities on account of the long coastline and favorable geographical conditions. This, coupled with the easy availability of healthy and disease-free shrimp, represents one of the key factors impelling the growth of the market. Moreover, due to the easy availability of land and labor and comparatively lower shrimp farming cost, India has become one the biggest exporters of fresh and frozen shrimp products around the world. In line with this, the escalating demand for shrimp products at a global scale is contributing to the market growth. Furthermore, the growing popularity of regional and international cuisines, along with the rising health consciousness among individuals, is positively influencing the demand for shrimp products in the country. Additionally, due to the rising environmental concerns, the Government of India is introducing various initiatives to encourage organic shrimp farming practices, which is offering lucrative growth opportunities to key players operating in the country. Apart from this, the escalating demand for ready-to-eat (RTE) food products on account of rapid urbanization and hectic lifestyles of individuals are facilitating the consumption of frozen and processed shrimp products in India.

Key Market Segmentation:

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

Breakup by Species:

 

 
 

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  • Penaeus Vannamei
  • Penaeus Monodon
  • Others
     

Penaeus Vannamei shrimp currently holds the largest market share on account of its significant farming in the country.

Breakup by Shrimp Size:

  • Size 31-40
  • Size 41-50
  • Size 51-60
  • Size 61-70
  • Size >70
  • Others
     

At present, size 31-40 shrimp accounts for the majority of the total market share. 

Breakup by State:

  • West Bengal
  • Gujarat
  • Andhra Pradesh
     

Competitive Landscape:

The competitive landscape of the market has been analyzed in the report, along with the detailed profiles of the major players operating in the industry. Some of these players are Nekkanti Sea Foods Limited, Avanti Frozen Foods Private Limited, Devi Sea Foods Limited, Falcon Marine Exports Ltd., BMR Group, Baby Marine (Eastern) Exports, Sandhya Marines Ltd., Apex Frozen Foods Limited, Ananda Aqua Exports Private Limited, Crystal Sea Foods Private Limited, Citrus Alpha Marine LLP, Jaya Lakshmi Seafoods Private Limited, Ifb Agro Industries Limited, SSF Limited, A.M.Fisheries, JRJ Seafoods India Private Limited, Anjaneya Sea Foods, Kings Infra Ventures Limited, Kadalkanny Frozen Foods, The Waterbase Limited, Geo Sea Foods Exports Private Limited, Abad Fisheries Private Limited, K V Marine Exports, Liberty Group of Seafood Companies, Kader Exports Private Limited, Liberty Frozen Foods Private Limited, Devi Marine Foods Exports Private Limited, Zeal Aqua Limited, Frontline Exports Private Limited, and Jude Foods India Private Limited.

This report provides a deep insight into the Indian shrimp industry 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, impact of macro and micro environment, 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 shrimp industry in any manner.

Report Coverage:

Report Features Details
Base Year of the Analysis 2021
Historical Period 2016-2021
Forecast Period 2022-2027
Units Million Tons, US$ Billion
Segment Coverage Species, Shrimp Size, State
States Covered West Bengal, Gujarat, Andhra Pradesh
Companies Covered Nekkanti Sea Foods Limited, Avanti Frozen Foods Private Limited, Devi Sea Foods Limited, Falcon Marine Exports Ltd., BMR Group, Baby Marine (Eastern) Exports, Sandhya Marines Ltd., Apex Frozen Foods Limited, Ananda Aqua Exports Private Limited, Crystal Sea Foods Private Limited, Citrus Alpha Marine LLP, Jaya Lakshmi Seafoods Private Limited, Ifb Agro Industries Limited, SSF Limited, A.M.Fisheries, JRJ Seafoods India Private Limited, Anjaneya Sea Foods, Kings Infra Ventures Limited, Kadalkanny Frozen Foods, The Waterbase Limited, Geo Sea Foods Exports Private Limited, Abad Fisheries Private Limited, K V Marine Exports, Liberty Group of Seafood Companies, Kader Exports Private Limited, Liberty Frozen Foods Private Limited, Devi Marine Foods Exports Private Limited, Zeal Aqua Limited, Frontline Exports Private Limited and Jude Foods India Private Limited
Customization Scope 10% Free Customization
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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 Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027
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