India Shrimp Market- Trend Analysis & Forecast

India Shrimp Market Overview:
India’s shrimp industry has emerged as a key player in the global seafood market, with production reaching 902.53 thousand tonnes in 2022, reflecting a robust CAGR of 17% from 2010 to 2022. As one of the world’s largest shrimp exporters, India plays a pivotal role in supplying major markets, including the U.S., Europe, and Japan. The sector’s rapid expansion is driven by favorable climatic conditions, strong government support, and advancements in aquaculture technology.

In FY 2022-23, India’s total fish production stood at 17.55 million tonnes, securing its position as the third-largest producer globally with an 8% market share. To further strengthen the fisheries sector, the Indian government allocated a record ₹2,584.50 crore (~$309M) in the FY 2024-25 budget. However, despite these advancements, shrimp production is expected to decline by 12-15% in 2023 due to reduced stocking density, a response to falling global shrimp prices.

Primary Areas/ Elements of Research & Analysis
The report provides comprehensive and valuable insights into the supply and demand dynamics of the India shrimp market.

Below are the variables considered and analyzed in the report:
• Supply-demand trends, market growth, and trade (exports & imports)
• Market structure, conduct, and performance analysis
• Historical and forecasted market size (volume & value)
• Trade analysis, including key partners, quantities, values, and price trends
• Supply chain mapping, pricing, and regulatory framework
• Competitive landscape profiling major players
• Factors influencing market performance, including sustainability trends

Market Growth Drivers
The rising demand for shrimp is fueled by increasing health consciousness, with consumers recognizing its high protein, low fat, and omega-3 content. Changing dietary preferences, especially in emerging markets, are further boosting shrimp consumption. However, the industry faces notable challenges, including price volatility and infrastructure constraints. Global price fluctuations directly impact profitability, while inadequate cold storage and transportation facilities create supply chain inefficiencies. Additionally, regional disparities in farming practices lead to inconsistent quality, making it difficult for exporters to meet stringent international standards.

India continues to dominate global shrimp exports, with the U.S., China, and the EU as key markets. While export volumes have shown consistent growth, challenges persist in the form of non-tariff barriers and strict quality regulations. To strengthen trade resilience, India is diversifying its export destinations, particularly targeting the Middle East and Southeast Asia. The country benefits from competitive pricing, thanks to lower production costs and economies of scale, making Indian shrimp highly attractive to international buyers. In FY 2023, shrimp exports stood at 711.10 thousand tonnes, generating $5.48 billion in revenue, further reinforcing India’s stronghold in the global market.

Competitive Landscape
The Indian shrimp market remains highly competitive, with key players such as Avanti Frozen Foods, Waterbase Ltd., Apex Frozen Foods, Devi Sea Food, and Nekkanti Sea Foods leading the industry. These companies leverage advanced processing technologies, strategic market expansion, and stringent quality control measures to maintain their dominance.

Outlook
Looking ahead, the industry is well-positioned for sustained growth, driven by rising global demand and ongoing innovations in aquaculture. Strengthening quality assurance measures, addressing infrastructure bottlenecks, and expanding into new markets will be crucial in securing India’s leadership in global shrimp production and exports by 2030.

Scope of the Report:
• Historical Years: 2015-2022
• Base Year: 2023
• Forecast Period: 2024-2030
• Units: Value (US$ Million) and Volume (Tonnes)
• Report Coverage: Production, Consumption, Export, and Import
• Segments Covered: By Type (Whiteleg Shrimp, Tiger Shrimp, Indian white shrimp, and Others), by Size, and Application
• Companies Profiled: The market players include Avanti Frozen Foods Pvt. Ltd, The Waterbase Limited, BKV Industries Ltd., Coastal Corporation Limited, Zeal Aqua, IFB Agro Industries Ltd., Suryo Foods & Industries Limited, Apex Frozen Foods, Nekkanti Sea Foods Limited, and Kadalkanny Frozen Foods, and more.

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1. Executive Summary
2. Introduction
2.1. Objectives & Scope of the Study
2.2. Definitions & Economic Importance
2.3. Research Methodology
2.4. Factors and Decision Matrix Analysis
2.5. Limitations & Challenges
3. Product/ Market Overview
3.1. Evolution/ Origin & Geographic Suitability
3.2. Shrimp Production Seasonality
3.3. Processing & Grading
3.4. Regulatory Analysis
4. India: Country Profile
5. India Shrimp Market Growth Factors Analysis
5.1. Drivers and Restraints Analysis
5.2. Challenges and Opportunities Analysis
5.3. India Shrimp Industry SWOT Analysis
5.4. India Shrimp Market PESTEL Analysis
5.5. India Shrimp Market Porter's Five Forces analysis
6. India Shrimp Market: Supply Analysis
6.1. Shrimp Supply Analysis (Production)
6.2. Shrimp Supply Analysis, by Type
6.2.1. Whiteleg Shrimp (Penaeus vannamei)
6.2.2. Tiger Shrimp (Penaeus monodon)
6.2.3. Indian white shrimp (Penaeus indicus)
6.2.4. Others
6.3. Shrimp Supply Analysis, by State
7. India Shrimp Market: Demand Analysis
7.1. Domestic Shrimp Demand
7.1.1. Domestic Consumption
7.1.2. Processing (Frozen and Canned)
7.2. Export Demand
7.3. Shrimp Supply Chain Analysis
7.4. Shrimp Product Variants
8. India Shrimp Market: Trade (Export & Import) Analysis
8.1. Shrimp Export Trend Analysis
8.2. Top 10 Export Destinations of India Shrimp
9. India Shrimp Market: Price Trend Analysis
9.1. Domestic Price Trend
9.2. Export Price Trend
9.3. Price Seasonality & Price Pattern Analysis
9.4. Price Events Analysis
10. Competitive Analysis
10.1. India Shrimp Market Mapping
10.1.1. List of Key Companies Exporting Shrimp from India
10.1.2. List of Key Companies Importing Shrimp from India
10.2. Company Profiles
10.2.1. Avanti Frozen Foods Pvt. Ltd
10.2.2. The Waterbase Limited
10.2.3. BKV Industries Ltd.
10.2.4. Coastal Corporation Limited
10.2.5. Zeal Aqua
10.2.6. IFB Agro Industries Ltd.
10.2.7. Suryo Foods & Industries Limited
10.2.8. Apex Frozen Foods
10.2.9. Nekkanti Sea Foods Limited
10.2.10. Kadalkanny Frozen Foods
10.2.11. Devi Sea Food Ltd.
10.2.12. Sandhya Marines
11. Conclusion
12. Appendix
List of Tables
Table 1: India Shrimp Production Volume (Tonnes)
Table 2: India Shrimp Production, Value (US$)
Table 3: India Shrimp Market, Demand Volume Details (Volume)
Table 4: India Shrimp Production Analysis, by State
Table 5: India Shrimp Export Trend, by Value
Table 6: India Shrimp Export Trend, by Volume
Table 7: India Shrimp Export Destinations by Volume (in %share)
Table 8: India Shrimp Export Destinations by Value (in %share)
Table 9: Top 10 Countries Importing Shrimp from India, by Value
Table 10: Top 10 Countries Importing Shrimp from India, by Volume
Table 11: India Shrimp Export Trend, By Type
Table 12: India Domestic Shrimp Market Price Trend
Table 13: India Shrimp Export Market Price Trend, FoB
Table 14: List of Companies in India Shrimp Industry
Table 15: List of Japan Companies Importing Shrimp from India
Table 16: List of Europe Companies Importing Shrimp from India
Table 17: List of USA Companies Importing Shrimp from India
Table 18: Industry Recent Developments
Table 19: Key Companies involved in Global Shrimp Trade
List of Figures
Figure 1: Shrimp Harvest Seasonality Trend
Figure 2: India Population Dynamics, 2023
Figure 3: India Aquaculture Trend Analysis
Figure 4: India: GDP Annual Growth & Exchange Rate Trend
Figure 5: Global Shrimp Market – An Overview
Figure 6: Global and India Shrimp Production Trend Comparison
Figure 7: India Shrimp Production Trend (Volume)
Figure 8: India Shrimp Production Trend (Value)
Figure 9: India Domestic Consumption of Shrimp (Volume)
Figure 10: India Domestic Processing of Shrimp (Volume)
Figure 11: India Shrimp Supply Channel Framework
Figure 12: Shrimp Product Variants Available in the Market
Figure 13: Global Shrimp Production, Volume
Figure 14: Global Imports of Shrimp, Value (USD Million)
Figure 15: India Shrimp Export, Value
Figure 16: India Shrimp Export, Volume
Figure 17: India Shrimp Export Destinations Share (by Volume)
Figure 18: India Shrimp Export Trend, by Value & Volume
Figure 19: Top 10 Countries Importing Shrimp from India, %share by Value
Figure 20: Top 10 Countries Importing Shrimp from India, %share by Volume
Figure 21: Japan Imports of Shrimp, by Value & Volume
Figure 22: Europe Imports of Shrimp, by Value & Volume
Figure 23: USA Imports of Shrimp, by Value & Volume
Figure 24: India Shrimp Price Trend, Annual Average Prices
Figure 25: India Price Trend, Monthly Average Prices

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