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:
REACH OUT TO US
Call us on
( US: +1-631-791-1145 )
( UK: +44-702-409-7331 )
( India: +91-120-433-0800 )
Drop us an email at