The Indian fish market thrives on significant export potential, constituting 8% in 2021-22 of the global production and ranking third in the global fish production. Recent years have witnessed substantial growth in both domestic consumption and fish exports, bolstering the Indian fish market. Rise in per capita consumption is driven by lifestyle shifts, increasing meat costs, and heightened awareness of fish as a healthy, protein-rich, cholesterol-lowering food source containing PUFA.
A rising trend in fish production has been observed in India since the inception of the Pradhan Mantri Matsya Sampada Yojana (PMMSY) in 2020-21, with 162.48 lakh tonnes produced in 2021-22, up from 141.64 lakh tonnes in 2019-20. The market growth is attributed to increasing per capita fish consumption, influenced by rising incomes and changing dietary preferences, and this upward trajectory is expected to persist.
Fish products are available through various distribution channels, encompassing categories such as fresh, frozen, and canned. The e-commerce giants such as Amazon are also increasing their product offering of frozen and canned sea food. In February 2023, FreshToHome, an Indian fresh fish and meat startup, secured $104 million in funding, with Amazon (NASDAQ: AMZN) as the primary investor. The investment came through Amazon's India-focused Smbhav Venture Fund, marking a significant development for the Bengaluru-based startup. Additional participants in this Series D funding round included the government of Dubai and Iron Pillar, alongside FreshToHome's existing supporters, including the U.S. government's development arm.
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The major players in the Indian fish market are Silver Sea Food, Abad Fisheries Private Limited, Seasaga Group, Geo Seafood, Apex Frozen Foods Ltd, Kirti Foods, Munnujii Foods International Pvt. Ltd, Oceans Secret, Prakash Foods, and Golden Prize India, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.
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Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
|Breakup by Product||
|Breakup by Fish Type||
|Breakup by Distribution Channel||
|Breakup by Sector||
|Breakup by Region||
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