India Shrimp Market- Trend Analysis & Forecast to 2030
India Shrimp Market Overview
India’s shrimp production reached 902.53 thousand tonnes in 2022, witnessed a 17% CAGR from 2010 to 2022. As a major shrimp exporter, India plays a crucial role in the global seafood supply chain, catering to markets like the U.S., Europe, and Japan. The industry has expanded due to favorable climate conditions, government support, and technological advancements in aquaculture.
In FY 2022-23, India recorded 17.55 million tonnes of fish production, ranking third globally with an 8% market share. The government allocated ?2,584.50 crore (~$309M) for fisheries in FY 2024-25, the highest ever. However, shrimp production is projected to decline by 12-15% in 2023 due to lower stocking density amid falling global 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:
The report provides historical market data (2015-2023) with projections to 2030, covering supply & demand analysis, trade patterns, and competitive dynamics. It also assesses key barriers, technological advancements, and industry evolution within the India shrimp market.
Market Growth Factors
Shrimp demand continues to rise due to increasing health awareness, as consumers recognize its high protein, low fat, and omega-3 content. Growing health consciousness and shifting dietary preferences are driving consumption, particularly in emerging markets.
Market Challenges
Despite its growth, the industry faces challenges such as price volatility and infrastructure limitations. Fluctuations in global shrimp prices impact profitability, while inadequate cold storage and transportation facilities create supply chain inefficiencies. Varying farming practices across regions result in inconsistent quality, posing hurdles for exporters who must comply with stringent international standards.
Trade & Market Trends
India remains a dominant shrimp exporter, with the U.S., China, and the EU as primary markets. Although exports have seen steady growth, non-tariff barriers and strict quality regulations present challenges. The country is also expanding its reach to Middle Eastern and Southeast Asian markets to enhance trade resilience.
India's shrimp industry benefits from competitive pricing, supported by lower production costs and economies of scale, making it an attractive choice for international buyers. In FY 2023, India exported 711.10 thousand tonnes of shrimp, valued at $5.48 billion, reinforcing its strong position in global trade.
Competitive Landscape
The Indian shrimp market is highly competitive, with leading companies such as Avanti Frozen Foods, Waterbase Ltd., Apex Frozen Foods, Devi Sea Food, and Nekkanti Sea Foods maintaining a strong presence. These players leverage advanced processing technologies, strategic market expansion, and quality assurance to sustain their market positions.
Outlook
Looking ahead, the Indian shrimp industry is poised for continued growth, driven by increasing global demand and advancements in aquaculture practices. Strengthening quality standards, addressing infrastructure gaps, and diversifying export markets will be critical in securing India's position as a global leader in shrimp production and exports by 2030.
Scope of the Report:
India’s shrimp production reached 902.53 thousand tonnes in 2022, witnessed a 17% CAGR from 2010 to 2022. As a major shrimp exporter, India plays a crucial role in the global seafood supply chain, catering to markets like the U.S., Europe, and Japan. The industry has expanded due to favorable climate conditions, government support, and technological advancements in aquaculture.
In FY 2022-23, India recorded 17.55 million tonnes of fish production, ranking third globally with an 8% market share. The government allocated ?2,584.50 crore (~$309M) for fisheries in FY 2024-25, the highest ever. However, shrimp production is projected to decline by 12-15% in 2023 due to lower stocking density amid falling global 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
- Top importers & Suppliers of shrimp
- Supply chain mapping, pricing, and regulatory framework
- Competitive landscape profiling major players
- Factors influencing market performance, including sustainability trends
The report provides historical market data (2015-2023) with projections to 2030, covering supply & demand analysis, trade patterns, and competitive dynamics. It also assesses key barriers, technological advancements, and industry evolution within the India shrimp market.
Market Growth Factors
Shrimp demand continues to rise due to increasing health awareness, as consumers recognize its high protein, low fat, and omega-3 content. Growing health consciousness and shifting dietary preferences are driving consumption, particularly in emerging markets.
Market Challenges
Despite its growth, the industry faces challenges such as price volatility and infrastructure limitations. Fluctuations in global shrimp prices impact profitability, while inadequate cold storage and transportation facilities create supply chain inefficiencies. Varying farming practices across regions result in inconsistent quality, posing hurdles for exporters who must comply with stringent international standards.
Trade & Market Trends
India remains a dominant shrimp exporter, with the U.S., China, and the EU as primary markets. Although exports have seen steady growth, non-tariff barriers and strict quality regulations present challenges. The country is also expanding its reach to Middle Eastern and Southeast Asian markets to enhance trade resilience.
India's shrimp industry benefits from competitive pricing, supported by lower production costs and economies of scale, making it an attractive choice for international buyers. In FY 2023, India exported 711.10 thousand tonnes of shrimp, valued at $5.48 billion, reinforcing its strong position in global trade.
Competitive Landscape
The Indian shrimp market is highly competitive, with leading companies such as Avanti Frozen Foods, Waterbase Ltd., Apex Frozen Foods, Devi Sea Food, and Nekkanti Sea Foods maintaining a strong presence. These players leverage advanced processing technologies, strategic market expansion, and quality assurance to sustain their market positions.
Outlook
Looking ahead, the Indian shrimp industry is poised for continued growth, driven by increasing global demand and advancements in aquaculture practices. Strengthening quality standards, addressing infrastructure gaps, and diversifying export markets will be critical in securing India's position as a global leader in shrimp production and exports by 2030.
Scope of the Report:
- Historical Years: 2015-2022
- Base Year: 2023
- Forecast Period: 2024-2030
- Units: Value (US$ 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.
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
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
