India Aquafeed Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

India Aquafeed Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Market Overview:

The India aquafeed market size reached 1.6 Million Tons in 2022. Looking forward, IMARC Group expects the market to reach 2.8 Million Tons by 2028, exhibiting a growth rate (CAGR) of 9.7% during 2023-2028.

India represents one of the leading aquaculture markets across the globe on account of the rich biodiversity of aquatic species. Consequently, there is a high demand for aquafeed in the country to meet the growing need of aquaculture farmers and the expanding export businesses.



With increasing disposable incomes, growing health consciousness and improving cold chain facilities, seafood sales have expanded from local wet markets to organized retail channels, such as supermarkets. This represents one of the key factors fueling the growth of the aquafeed market in India. Moreover, the growing trend of natural and organic feeds has prompted manufacturers to incorporate high-quality raw materials that offer functional advantages and lower the usage of synthetic components. They are also enhancing the stability of feed pellets, reducing fine proportion, and improving pellets density and extension. Another major factor driving the industry growth is t significant shift from homemade feed to commercially available product variants. Along with enhancing the bioavailability of various nutrients, the commercial feed also helps in reducing environmental pollution and increasing profit margins. Furthermore, the Government of India is offering various subsidies for fish and shrimp farmers, which in turn is stimulating the growth of the aquafeed industry.

Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the India aquafeed market report, along with forecasts at the country and regional level from 2023-2028. Our report has categorized the market based on species, ingredients, additives and product form.

Breakup by Species:

Carp Feeds
Marine Shrimps
Tilapias
Catfishes
Marine Fishes
Salmons
Freshwater (FW) Crustaceans
Trouts
Others

Breakup by Ingredients:


Soybean
Corn
Fish Meal
Fish Oil
Additives
Others

Breakup by Additives:

Vitamins and Minerals
Antioxidants
Feed Enzymes
Others

Breakup by Product Form:

Pellets
Extruded
Powdered
Liquid

Breakup by Region:

North India
West and Central India
South India
East India

Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being Alltech Biotechnology Pvt. Ltd. (Alltech, Inc.), Avanti Feeds Limited, Cargill India Private limited (Cargill Inc.), Godrej Agrovet Limited (Godrej Group), Growel Feeds Private Limited, IB Group, Skretting Aquaculture India Private Limited (Nutreco NV) and UNO Feeds

Key Questions Answered in This Report

1. What was the size of the India aquafeed market in 2022?
2. What is the expected growth rate of the India aquafeed market during 2023-2028?
3. What are the key factors driving the India aquafeed market?
4. What has been the impact of COVID-19 on the India aquafeed market?
5. What is the breakup of the India aquafeed market based on the species?
6. What is the breakup of the India aquafeed market based on the ingredients?
7. What is the breakup of the India aquafeed market based on the product form?
8. What are the key regions in the India aquafeed market?