Top 10 Companies Dominating the India Shrimp Market Landscape

The India shrimp market reached a volume of about 0.93 million tons in 2023. The market is projected to grow at a CAGR of 9.60% in the forecast period of 2024-2032 to reach around 2.12 million tons by 2032. As per the analysis by Expert Market Research, the market is expected to be driven by rising demand for seafood due to its health benefits.

India produces around one million metric tonnes of white leg shrimp annually, making it the second-largest producer in the world due to the easy availability of land and labour, and comparatively lower shrimp farming costs. The India shrimp market is anticipated to be heavily impacted by shifting consumer preferences towards seafood in diverse cuisines, due to its abundance of essential proteins, vitamins, and minerals.

The market for shrimp in India is also being fuelled by the growing demand for regional and international cuisines and escalating demand for ready-to-eat (RTE) food. According to industry reports, by 2030, The production of RTE/RTC foods in India is expected to reach around INR 9,600 Cr. or 4.6 Lac MT. Young people are the main drivers of the RTE/RTC food sector in India; the millennial generation makes up about 34% of the country's population, suggesting a large potential for the market.

Shrimp is a low-glycaemic index (GI) food and a good source of vitamins and minerals. As a result, it enhances the prevention of coronary heart disease with diabetes. According to industry reports, around 11% of India's population is diabetic.

Figure: Vannamei Shrimp Production in Indian States (in MT), 2020-2021

Figure: Tiger Shrimp Production in Indian States (in MT), 2020-2021

Top 10 Shrimp Companies in India:

Nekkanti Sea Foods Limited

Nekkanti Sea Foods has established its position as a prominent provider of high-quality shrimp in India. The company has become the exclusive provider of Indian shrimp to some of the top merchants and seafood enterprises in the USA. The company’s product range includes different varieties of shell-on, raw peeled, cooked, and value-added processed shrimps. The company is certified by the Best Aquaculture Practices (BAP) and the Aquaculture Stewardship Council (ASC) for promoting sustainable aquaculture practices.

Devi Sea Foods Ltd

Devi Sea Foods is a prominent Indian provider of shrimp to well-known food service and retail clients. Three primary verticals serve as the foundation for Devi Sea Foods' operations. The two main verticals are the processing and export of shrimp and the production of shrimp feed under the DEVEE brand Vannamei shrimp feed. The shrimp feed segment that develops and provides high-quality feed and gives the corporation greater control over its supply chain is the second key activity.

BMR Group

The BMR Group of Industries is a vertically integrated conglomerate that offers shrimp farmers complete solutions with the highest level of transparency. In 2009, the government of India introduced Litopenaeus vannamei, the company's specific pathogen-free Pacific white-legged shrimp, for commercial culture in India. The company’s product portfolio includes raw, processed and cooked shrimps.

Jayalakshmi Sea Foods Pvt. Ltd.

Jayalakshmi Sea Foods is a premium exporter of the finest quality, ready-to-eat shrimp in India. The company has earned recognition and certifications from global food health and safety organisations due to its high-quality raw material procurement and processing. Its processing facilities are approved by the EIA and certified with BAP, BRC, FSSC22000, FSSAI, and USFDA HACCP. The company has processing facilities with a capacity of 8000 MTPA strategically located in Bhimavaram, Andhra Pradesh, which is the prime location of aquaculture and seafood businesses in India.

SSF Limited

SSF Limited is one of the significant exporters of marine products. Large volumes of marine food are currently being exported by the company to important markets in the Middle East, South Korea, Malaysia, Singapore, Japan, USA, Thailand, China, and Vietnam, as well as major markets in the EU. The company’s product range includes aqua-cultured shrimps such as Black Tiger and Vannamei and sea-caught shrimp, including Tiger, White, Flower, Bamboo, Karikadi, Poovalan, and others.

Apex Frozen Foods Ltd.

Apex Frozen Foods is a leading integrated producer and exporter of high-quality, shelf-stable aquaculture products. It provides ready-to-cook products to a wide range of clients, including distributors, food companies, retail chains, restaurants, and club shops located throughout the developed markets of the United States, the United Kingdom, and other European nations. The company majorly processes and exports variants of processed Vannamei shrimp (white shrimp).

Megaa Moda Private Limited (MMPL)

Megaa Moda is a significant, finest-quality shrimp producer and exporter in India. The company has long-term partnerships with customers across the globe, including Japan, Vietnam, Thailand, Malaysia, Singapore, Hong Kong, China, Korea, the Netherlands, France, Belgium, the United States, and others. The company’s range of shrimp products includes Vannemei, Black Tiger shrimp, Freshwater Scampi, Pink shrimp, White shrimp, Sea-caught shrimp, and more, available in various forms such as HOSO, HLSO, EZPL, PDTO, PD, PUD, and Butterfly, as well as RAW FROZEN in IQF and Block form, and BLANCH available in IQF form.

Zeal Aqua Limited

Zeal Aqua is a premier aquaculture company that offers premium-quality shrimp with a production capacity of 1500 tonnes of shrimp. The company employs state-of-the-art technology such as Bio-Security, Auto Feeder, and Aeration Systems to produce the best-quality shrimp with sustainable practices.

Coastal Corporation Limited

Coastal Corporation Limited (India) is a prominent seafood producer engaged in the processing, production, and distribution of seafood globally. The company exports an extensive range of shrimp products to the US, Europe, Canada, the UAE, Saudi Arabia, Australia, Hong Kong, Korea, China, and Russia. The company offers varieties of cooked shrimp and butterfly shrimp.

BKV Industries Limited

BKV Industries Ltd. is engaged in shrimp production in India and exports internationally. Its product portfolio includes processed/headless shrimp.