India Fish Market Report and Forecast 2023-2028

India Fish Market Report and Forecast 2023-2028

Market Outlook

According to the report by Expert Market Research (EMR), the India fish market reached a volume of 13023 KMT in 2022. Aided by the increased demand for fish as a source of protein and the expanding aquaculture industry, the market is projected to grow at a CAGR of 12.3% between 2023 and 2028, reaching a volume of 26630.78 KMT by 2028.

The Indian populace relies heavily on fish as a source of protein, omega-3 fatty acids, and other vital elements. India, which has a coastline of more than 7,500 kilometres, is a major player in the global fish market due to its robust fishing industry and variety of fish species. Factors such as population growth, rising disposable income, urbanisation, and changing food habits contribute to the growth of the India fish market.

Fish consumption has increased in India due to rising demand for fish and fish-based products and rising consumer health consciousness. Additionally, the expansion of retail chains and a robust growth in the HoReCa sector is further bolstering the India fish market growth. The Indian government's initiatives to support and promote the fish industry, including investments in infrastructure, technology, and research, also contribute to the market's expansion. It is anticipated that as the organised food retail industry expands, customers will have greater access to processed fish items, notably canned and frozen fish, which would have a favourable effect on the India fish market expansion.

Due to improvements in breeding, hatching, and farming methods, India's aquaculture sector has experienced rapid expansion in recent years. Aquaculture plays a vital role in addressing the increased demand for fish and seafood products while ensuring sustainable fishery practices. The availability of a wide variety of fish species, like carp, tilapia, prawn, and catfish, which are farmed across different locations in India, is helping the growth of the India fish market.

Technological advancements in the fishing industry are further driving the India fish market. The Internet of Things (IoT) technology is transforming the aquaculture industry by connecting various devices, sensors, and systems, providing real-time data on fish health, water quality, and other critical factors, allowing for efficient and informed decision-making in fish farming operations.

Market Segmentation

The market can be divided based on product, fish type, distribution channel, sector, and region.

Market Breakup by Product

• Fresh
• Frozen
• Canned
• Others

Market Breakup by Fish Type

• Inland Fishes

Breakup by Species

• Indian Major Carps
• Pangasius
• Exotic Carp r`s
• Clarias
• Anabas
• Rupchanda
• Tilapia
• Seabass
• Others
• Marine Fishes
• Shrimps
• Scampi

Market Breakup by Distribution Channel

• Retail
• Institutional and HoReCa

Market Breakup by Sector

• Organised
• Unorganised

Market Breakup by Region

• North India
• East and Central India
• West India
• South India

Competitive Landscape

The EMR report looks into the market shares, plant turnarounds, capacities, investments, and acquisitions and mergers, among other major developments, of the Indian fish companies. Some of the major key players explored in the report by Expert Market Research are as follows:

• 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
• Golden Prize India

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*We at Expert Market Research always strive to provide you with the latest information. The numbers in the article are only indicative and may be different from the actual report.