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India Shrimp Market Share, Size, Growth, Trends, Analysis, Report, Forecast: By Environment: Farming, Processing; By Species: Penaeus Vannamei, Penaeus Monodon, Macrobrachium Rosenbergii, Others; By Product Category: Peeled, Shell-on, Cooked, Breaded, Others; By Sales Channel; Regional Analysis; Competitive Landscape; 2023-2028
India Shrimp Market Outlook
The India shrimp market attained a volume of 0.71 million tons in 2020. The market is further expected to grow at a CAGR of 9.5% in the forecast period of 2023-2028, reaching a volume of approximately 1.23 million tons by 2026.
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In India, fisheries is a significant economic sector and offers vast opportunities for development. This is attributed to the diverse resources and potential of the country. Andhra Pradesh is the leading shrimp producer, accounting for more than 50% of the total output.
The Indian Government is promoting sustainable shrimp farming practices to produce high-quality 'sustainable' shrimp in order to minimise the environmental effects of shrimp aquaculture. Moreover, the Seafood Exporters Association of India (SEAI) and the Marine Products Export Development Authority (MPEDA) are supporting the export of shrimp, especially for ready-to-eat and ready-to-cook products.
Market Segmentation
Shrimp are invertebrate marine animal having an elongated body that is often used as a food product. This is considered a nutritious since it includes proteins, selenium, vitamins, phosphorous, magnesium, copper, iron, and vitamin B12. Many of the health benefits associated with shrimp consumption are weight loss, age management, better bone strength, reduced menstrual pain, and the prevention of cardiovascular diseases.
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By environment, the market is bifurcated into:
- Farming
- Processing
Based on species, the India shrimp market has been segmented into:
- Penaeus Vannamei
- Penaeus Monodon
- Macrobrachium Rosenbergii
- Others
On the basis of product category, the market is divided into:
- Peeled
- Shell-on
- Cooked
- Breaded
- Others
Based on sales channel, the market is segmented into:
- Hypermarkets and Supermarkets
- Hotels and Restaurants
- Convenience Stores
- Online
- Others
The regional markets for shrimp in India include North India, East and Central India, West India, and South India.
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Market Analysis
Easy availability of shrimp and its high nutritional content are the main growth-inducing factors. They are an essential part of the different cuisines being one of the most traded species of seafood. With the growing demand for disease-free and stable shrimp, India has become one of the largest exporters of shrimp to the United States and the European Union. One of the main trends seen in the India shrimp market is the growth of the food industry due to the growing demand for ready-to-eat food items. It is driven by factors including rapid urbanisation, shifting habits, hectic work schedules, and growing number of working women. As a result, the shrimp market in India is experiencing healthy production. In addition, the growing demand for shrimp globally has positively affected imports of shrimp from India. Moreover, the growing consumer health consciousness, rising disposable incomes, and improving living standards remain some of the other primary factors that are further increasing the demand for shrimps in India.
Competitive Landscape
The report gives a detailed analysis of the following key players in the India shrimp market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:
- Nekkanti Sea Foods Limited
- Devi Sea Foods Ltd
- BMR Group
- Jayalakshmi Sea Foods Pvt. Ltd.
- SSF Limited
- Apex Frozen Foods Ltd.
- Megaa Moda Private Limited (MMPL)
- Zeal Aqua Limited
- Coastal Corporation Limited
- BKV Industries Limited
- Others
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
|---|---|
| Base Year | 2022 |
| Historical Period | 2018-2022 |
| Forecast Period | 2023-2028 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
|
| Breakup by Environment |
|
| Breakup by Species |
|
| Breakup by Product Category |
|
| Breakup by Sales Channel |
|
| Breakup by Region |
|
| Market Dynamics |
|
| Competitive Landscape |
|
| Companies Covered |
|
*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
7 Opportunities and Challenges in the Market
8 Global Shrimp Market Overview
8.1 Key Industry Highlights
8.2 Global Shrimp Historical Market (2018-2022)
8.3 Global Shrimp Market Forecast (2023-2028)
8.4 Global Shrimp Market Share by Region
8.4.1 North America
8.4.2 Europe
8.4.3 Asia Pacific
8.4.4 Latin America
8.4.5 Middle East and Africa
9 India Shrimp Market Overview
9.1 Key Industry Highlights
9.2 India Shrimp Historical Market (2018-2022)
9.3 India Shrimp Market Forecast (2023-2028)
10 India Shrimp Market by Environment
10.1 Farming
10.1.1 Market Share
10.1.2 Historical Trend (2018-2022)
10.1.3 Forecast Trend (2023-2028)
10.2 Processing
10.2.1 Market Share
10.2.2 Historical Trend (2018-2022)
10.2.3 Forecast Trend (2023-2028)
11 India Shrimp Market by Species
11.1 Penaeus Vannamei
11.1.1 Market Share
11.1.2 Historical Trend (2018-2022)
11.1.3 Forecast Trend (2023-2028)
11.2 Penaeus Monodon
11.2.1 Market Share
11.2.2 Historical Trend (2018-2022)
11.2.3 Forecast Trend (2023-2028)
11.3 Macrobrachium Rosenbergii
11.3.1 Market Share
11.3.2 Historical Trend (2018-2022)
11.3.3 Forecast Trend (2023-2028)
11.4 Others
12 India Shrimp Market by Product Category
12.1 Peeled
12.1.1 Market Share
12.1.2 Historical Trend (2018-2022)
12.1.3 Forecast Trend (2023-2028)
12.2 Shell-on
12.2.1 Market Share
12.2.2 Historical Trend (2018-2022)
12.2.3 Forecast Trend (2023-2028)
12.3 Cooked
12.3.1 Market Share
12.3.2 Historical Trend (2018-2022)
12.3.3 Forecast Trend (2023-2028)
12.4 Breaded
12.4.1 Market Share
12.4.2 Historical Trend (2018-2022)
12.4.3 Forecast Trend (2023-2028)
12.5 Others
13 India Shrimp Market by Sales Channel
13.1 Hypermarkets and Supermarkets
13.1.1 Market Share
13.1.2 Historical Trend (2018-2022)
13.1.3 Forecast Trend (2023-2028)
13.2 Hotels and Restaurants
13.2.1 Market Share
13.2.2 Historical Trend (2018-2022)
13.2.3 Forecast Trend (2023-2028)
13.3 Convenience Stores
13.3.1 Market Share
13.3.2 Historical Trend (2018-2022)
13.3.3 Forecast Trend (2023-2028)
13.4 Online
13.4.1 Market Share
13.4.2 Historical Trend (2018-2022)
13.4.3 Forecast Trend (2023-2028)
13.5 Others
14 India Shrimp Market by Region
14.1 North India
14.1.1 Market Share
14.1.2 Historical Trend (2018-2022)
14.1.3 Forecast Trend (2023-2028)
14.2 East and Central India
14.2.1 Market Share
14.2.2 Historical Trend (2018-2022)
14.2.3 Forecast Trend (2023-2028)
14.3 West India
14.3.1 Market Share
14.3.2 Historical Trend (2018-2022)
14.3.3 Forecast Trend (2023-2028)
14.4 South India
14.4.1 Market Share
14.4.2 Historical Trend (2018-2022)
14.4.3 Forecast Trend (2023-2028)
15 Market Dynamics
15.1 SWOT Analysis
15.1.1 Strengths
15.1.2 Weaknesses
15.1.3 Opportunities
15.1.4 Threats
15.2 Porter’s Five Forces Analysis
15.2.1 Supplier’s Power
15.2.2 Buyer’s Power
15.2.3 Threat of New Entrants
15.2.4 Degree of Rivalry
15.2.5 Threat of Substitutes
15.3 Key Indicators for Demand
15.4 Key Indicators for Price
16 Competitive Landscape
16.1 Market Structure
16.2 Company Profiles
16.2.1 Nekkanti Sea Foods Limited
16.2.1.1 Company Overview
16.2.1.2 Product Portfolio
16.2.1.3 Demographic Reach and Achievements
16.2.1.4 Certifications
16.2.2 Devi Sea Foods Ltd
16.2.2.1 Company Overview
16.2.2.2 Product Portfolio
16.2.2.3 Demographic Reach and Achievements
16.2.2.4 Certifications
16.2.3 BMR Group
16.2.3.1 Company Overview
16.2.3.2 Product Portfolio
16.2.3.3 Demographic Reach and Achievements
16.2.3.4 Certifications
16.2.4 Jayalakshmi Sea Foods Pvt. Ltd.
16.2.4.1 Company Overview
16.2.4.2 Product Portfolio
16.2.4.3 Demographic Reach and Achievements
16.2.4.4 Certifications
16.2.5 SSF Limited
16.2.5.1 Company Overview
16.2.5.2 Product Portfolio
16.2.5.3 Demographic Reach and Achievements
16.2.5.4 Certifications
16.2.6 Apex Frozen Foods Ltd.
16.2.6.1 Company Overview
16.2.6.2 Product Portfolio
16.2.6.3 Demographic Reach and Achievements
16.2.6.4 Certifications
16.2.7 Megaa Moda Private Limited (MMPL)
16.2.7.1 Company Overview
16.2.7.2 Product Portfolio
16.2.7.3 Demographic Reach and Achievements
16.2.7.4 Certifications
16.2.8 Zeal Aqua Limited
16.2.8.1 Company Overview
16.2.8.2 Product Portfolio
16.2.8.3 Demographic Reach and Achievements
16.2.8.4 Certifications
16.2.9 Coastal Corporation Limited
16.2.9.1 Company Overview
16.2.9.2 Product Portfolio
16.2.9.3 Demographic Reach and Achievements
16.2.9.4 Certifications
16.2.10 BKV Industries Limited
16.2.10.1 Company Overview
16.2.10.2 Product Portfolio
16.2.10.3 Demographic Reach and Achievements
16.2.10.4 Certifications
16.2.11 Others
17 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Shrimp Market: Key Industry Highlights, 2018 and 2028
2. India Shrimp Market: Key Industry Highlights, 2018 and 2028
3. India Shrimp Historical Market: Breakup by Environment (KMT), 2018-2022
4. India Shrimp Market Forecast: Breakup by Environment (KMT), 2023-2028
5. India Shrimp Historical Market: Breakup by Species (KMT), 2018-2022
6. India Shrimp Market Forecast: Breakup by Species (KMT), 2023-2028
7. India Shrimp Historical Market: Breakup by Product Category (KMT), 2018-2022
8. India Shrimp Market Forecast: Breakup by Product Category (KMT), 2023-2028
9. India Shrimp Historical Market: Breakup by Sales Channel (KMT), 2018-2022
10. India Shrimp Market Forecast: Breakup by Sales Channel (KMT), 2023-2028
11. India Shrimp Historical Market: Breakup by Region (KMT), 2018-2022
12. India Shrimp Market Forecast: Breakup by Region (KMT), 2023-2028
13. India Shrimp Market Structure
Key Questions Answered in the Report
In 2020, the India shrimp market reached a volume of 0.71 million tons.
In the forecast period of 2023-2028, the market is projected to grow at a CAGR of 9.5%.
By 2026, the market is estimated to reach a volume of almost 1.23 million tons.
The major drivers of the industry such as rising disposable incomes, increasing population, increasing health consciousness, growing demand for convenient and ready-to-eat food, rapid urbanization, changing lifestyles, and easy availability of the product are expected to aid the market growth.
Governmental support for sustainable shrimp farming and rising exports of the product are expected to be the major trends driving the growth of the industry.
The major regions in the market are North India, East and Central India, West India, and South India.
The significant species in the market are Penaeus Vannamei, Penaeus Monodon, and Macrobrachium Rosenbergii, among others.
The primary environments in the market are farming and processing.
The various product categories in the market are peeled, shell-on, cooked, and breaded, among others.
The different sales channels of the shrimp market in India are hypermarkets and supermarkets, hotels and restaurants, convenience stores, and online, among others.
The key players in the market are Nekkanti Sea Foods Limited, Devi Sea Foods Ltd, BMR Group, Jayalakshmi Sea Foods Pvt. Ltd., SSF Limited, Apex Frozen Foods Ltd., Megaa Moda Private Limited (MMPL), Zeal Aqua Limited, Coastal Corporation Limited, and BKV Industries Limited, among others.
Analyst Review
The India shrimp market attained a volume of 0.71 million tons in 2020 driven by changing lifestyles of consumers and growing exports of the product. Aided by the rising health awareness and a shift towards sustainable farming practices, the market is expected to witness a further growth in the forecast period of 2023-2028, growing at a CAGR of 9.5%. The market is projected to reach 1.23 million tons by 2026.
EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. By environment, the market is bifurcated into farming and processing. Based on species, the India shrimp market has been segmented into Penaeus Vannamei, Penaeus Monodon, and Macrobrachium Rosenbergii, among others. On the basis of the product category, the India shrimp market is divided into peeled, shell-on, cooked, and breaded, among others. Based on sales channel, the market is segmented into hypermarkets and supermarkets, hotels and restaurants, convenience stores, and online, among others. The major regional markets for shrimp in India are North India, East and Central India, West India, and South India. The key players in the above market include Nekkanti Sea Foods Limited, Devi Sea Foods Ltd, BMR Group, Jayalakshmi Sea Foods Pvt. Ltd., SSF Limited, Apex Frozen Foods Ltd., Megaa Moda Private Limited (MMPL), Zeal Aqua Limited, Coastal Corporation Limited, and BKV Industries Limited, among others.
EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.
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