Indian Shrimp Market | 2022 | Industry Share, Size, Growth and Forecast till 2027 - IMARC Group

According to the latest report by IMARC Group, titled "Indian Shrimp Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027," the Indian shrimp market reached a value of US$ 6.5 Billion in 2021. On account of the aforementioned factors, the market is anticipated to grow at a CAGR of 11.5% during 2022-2027.

We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.

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Shrimp is one of the most commonly consumed seafood across the globe. It is an invertebrate marine animal that belongs to the largest class of crustaceans called Malacostraca. It has a laterally compressed and elongated body with long antennae and legs. It is widely available in freshwater lakes and streams, and deep and shallow waters. It contains low saturated fat content while being a rich source of proteins, selenium, copper, iron, phosphorus, antioxidants, magnesium and vitamin B. As a result, its regular consumption is often associated with numerous health benefits, including low levels of blood pressure, weight loss management, improved bone and brain health and reduced risks of cardiovascular diseases (CVDs).

Indian Shrimp Market Trends:

The market is primarily driven by the easy availability of disease-free and healthy shrimp in India. The country has a long coastline and favorable geographical conditions suited for shrimp culture. This, along with the easy availability and affordability of land and labor across the country and the relatively lower shrimp production costs, has led India to become one of the largest shrimp exporters and the primary source of frozen shrimp products across the globe, especially in the United States and European Union. The increasing demand for shrimp products on the global levels is, therefore, providing a thrust to the domestic market growth. Moreover, rapid urbanization and the growing popularity of regional as well as international cuisines across India have led the masses to incorporate shrimp in their daily diets. This is further supported by the increasing awareness regarding the numerous health benefits offered by its consumption. Moreover, there has been a rising demand for ready-to-eat food products due to the hectic lifestyles led by the majority of the population and their shifting dietary preferences. This, coupled with the inflating disposable incomes of individuals, has facilitated the uptake of frozen and processed shrimp products across the country. Furthermore, the Government of India is undertaking various initiatives to encourage organic shrimp farming practices in an attempt to reduce the environmental impact of shrimp aquaculture, thereby creating a positive outlook for the market. 

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the Indian shrimp market, along with forecasts at the country and state level from 2022-2027. Our report has categorized the market based on species and shrimp size.

Competitive Landscape:

Nekkanti Sea Foods Limited
Avanti Frozen Foods Private Limited
Devi Sea Foods Limited
Falcon Marine Exports Ltd
BMR Group
Baby Marine (Eastern) Exports
Sandhya Marines Ltd
Apex Frozen Foods Limited
Ananda Aqua Exports Private Limited
Crystal Sea Foods Private Limited
Citrus Alpha Marine LLP
Jaya Lakshmi Seafoods Private Limited
Ifb Agro Industries Limited
SSF Limited
M.Fisheries
JRJ Seafoods India Private Limited
Anjaneya Sea Foods
Kings Infra Ventures Limited
Kadalkanny Frozen Foods
The Waterbase Limited
Geo Sea Foods Exports Private Limited
Abad Fisheries Private Limited
K V Marine Exports
Liberty Group of Seafood Companies
Kader Exports Private Limited
Liberty Frozen Foods Private Limited
Devi Marine Foods Exports Private Limited
Zeal Aqua Limited
Frontline Exports Private Limited
Jude Foods India Private Limited.

Breakup by Species:

Penaeus Vannamei
Penaeus Monodon
Others

Breakup by Shrimp Size:

Size 31-40
Size 41-50
Size 51-60
Size 61-70
Size >70
Others

Breakup by State:

West Bengal
Gujarat
Andhra Pradesh

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Key highlights of the report:                                                           

Market Performance (2016-2021)
Market Outlook (2022-2027)
Market Trends
Market Drivers and Success Factors
Impact of COVID-19
Value Chain Analysis
Comprehensive mapping of the competitive landscape

If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

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