With 11.5% CAGR, Indian Shrimp Market to Hit US$ 12.7 Billion by 2027 | Industry Report and Forecast

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. Looking forward, IMARC Group expects the market to reach US$ 12.7 Billion by 2027, exhibiting a CAGR of 11.5% during 2022-2027.

Shrimp is an invertebrate marine decapod crustacean with a semitransparent and elongated body. It is generally found in deep and shallow waters and streams. Shrimp is a rich source of essential vitamins, omega-3 fatty acids, selenium, protein, and iodine that assist in eliminating inflammation, maintaining a healthy lean body mass, enhancing bone strength, and reducing high blood pressure levels. Additionally, shrimp exhibits antioxidant properties, which aid in recovering from chronic diseases and improving skin elasticity. Consequently, it is extensively consumed as a seafood delicacy in frozen and fresh forms.

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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.

Indian Shrimp Market Trends:

The increasing health consciousness and the shifting consumer inclination toward nutritious meals have facilitated the widespread incorporation of shrimp in the food and beverage (F&B) sector for preparing exotic seafood dishes. This, along with the increasing awareness regarding the health benefits associated with their consumption, is primarily driving the market growth. Additionally, the rising environmental concerns have prompted the Government of India (GoI) to implement a sustainable aquaculture farming approach to fuel shrimp production, which, in turn, is propelling the market growth. Apart from this, the increasing demand for ready-to-eat (RTE) products and strategic collaborations amongst key players to launch innovative product variants in different packaging solutions are contributing to the market growth.

Indian Shrimp Market 2022-2027 Competitive Analysis and Segmentation:

Competitive Landscape With Key Players:

The competitive landscape of the Indian shrimp market has been studied in the report with the detailed profiles of the key players operating in the market.

Some of these key players include:

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.

Key Market Segmentation:

The report has segmented the Indian shrimp market on the basis of species, shrimp size and region.

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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