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India Shrimp Market

India Shrimp Market Share, Size, Growth, Trends, Forecast: By Environment: Farming, Processing; By Species: Penaeus Vannamei, Penaeus Monodon, Macrobrachium Rosenbergii, Others; By Product Category: Peeled, Shell-on, Cooked, Breaded, Others; By Sales Channel; Regional Analysis; Competitive Landscape; 2024-2032

India Shrimp Market Outlook

The India shrimp market attained a volume of 0.93 million tons in 2023. The market is further expected to grow at a CAGR of 9.60% in the forecast period of 2024-2032, reaching a volume of approximately 2.12 million tons by 2032.

 

India Shrimp Market

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In India, fisheries is a significant economic sector and offers vast opportunities for development. This is attributed to the diverse resources and potential of the country. Andhra Pradesh is the leading shrimp producer, accounting for more than 50% of the total output.

 

The Indian Government is promoting sustainable shrimp farming practices to produce high-quality 'sustainable' shrimp in order to minimise the environmental effects of shrimp aquaculture. Moreover, the Seafood Exporters Association of India (SEAI) and the Marine Products Export Development Authority (MPEDA) are supporting the export of shrimp, especially for ready-to-eat and ready-to-cook products.

 

Market Segmentation

Shrimp are invertebrate marine animal having an elongated body that is often used as a food product. This is considered a nutritious since it includes proteins, selenium, vitamins, phosphorous, magnesium, copper, iron, and vitamin B12. Many of the health benefits associated with shrimp consumption are weight loss, age management, better bone strength, reduced menstrual pain, and the prevention of cardiovascular diseases.

 

India Shrimp Market By Segments

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By environment, the market is bifurcated into:

  • Farming
  • Processing

 

Based on species, the India shrimp market has been segmented into:

  • Penaeus Vannamei
  • Penaeus Monodon
  • Macrobrachium Rosenbergii
  • Others

 

On the basis of product category, the market is divided into:

  • Peeled
  • Shell-on
  • Cooked
  • Breaded
  • Others

 

Based on sales channel, the market is segmented into:

  • Hypermarkets and Supermarkets
  • Hotels and Restaurants
  • Convenience Stores
  • Online
  • Others

 

The regional markets for shrimp in India include North India, East and Central India, West India, and South India.

 

India Shrimp Market Report

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Market Analysis

Easy availability of shrimp and its high nutritional content are the main growth-inducing factors. They are an essential part of the different cuisines being one of the most traded species of seafood. With the growing demand for disease-free and stable shrimp, India has become one of the largest exporters of shrimp to the United States and the European Union. One of the main trends seen in the India shrimp market is the growth of the food industry due to the growing demand for ready-to-eat food items. It is driven by factors including rapid urbanisation, shifting habits, hectic work schedules, and growing number of working women. As a result, the shrimp market in India is experiencing healthy production. In addition, the growing demand for shrimp globally has positively affected imports of shrimp from India. Moreover, the growing consumer health consciousness, rising disposable incomes, and improving living standards remain some of the other primary factors that are further increasing the demand for shrimps in India.

 

Competitive Landscape 

The report gives a detailed analysis of the following key players in the India shrimp market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:

 

  • Nekkanti Sea Foods Limited
  • Devi Sea Foods Ltd
  • BMR Group
  • Jayalakshmi Sea Foods Pvt. Ltd.
  • SSF Limited
  • Apex Frozen Foods Ltd.
  • Megaa Moda Private Limited (MMPL)
  • Zeal Aqua Limited
  • Coastal Corporation Limited
  • BKV Industries Limited
  • Others

 

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.

 

Key Highlights of the Report

REPORT FEATURES DETAILS
Base Year 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Scope of the Report

Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:

  • Environment
  • Species
  • Product Category
  • Sales Channel
  • Region
Breakup by Environment
  • Farming
  • Processing
Breakup by Species
  • Penaeus Vannamei
  • Penaeus Monodon
  • Macrobrachium Rosenbergii
  • Others
Breakup by Product Category
  • Peeled
  • Shell-on
  • Cooked
  • Breaded
  • Others
Breakup by Sales Channel
  • Hypermarkets and Supermarkets
  • Hotels and Restaurants
  • Convenience Stores
  • Online
  • Others
Breakup by Region
  • North India
  • East and Central India
  • West India
  • South India
Market Dynamics
  • SWOT
  • Porter's Five Forces
  • Key Indicators for Demand
  • Key Indicators for Price
Competitive Landscape
  • Market Structure
  • Company Profiles
    • Company Overview
    • Product Portfolio
    • Demographic Reach and Achievements
    • Certifications
Companies Covered
  • Nekkanti Sea Foods Limited
  • Devi Sea Foods Ltd
  • BMR Group
  • Jayalakshmi Sea Foods Pvt. Ltd.
  • SSF Limited
  • Apex Frozen Foods Ltd.
  • Megaa Moda Private Limited (MMPL)
  • Zeal Aqua Limited
  • Coastal Corporation Limited
  • BKV Industries Limited
  • Others

 

*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.

1    Preface
2    Report Coverage – Key Segmentation and Scope
3    Report Description

    3.1    Market Definition and Outlook
    3.2    Properties and Applications
    3.3    Market Analysis
    3.4    Key Players
4    Key Assumptions
5    Executive Summary

    5.1    Overview
    5.2    Key Drivers    
    5.3    Key Developments
    5.4    Competitive Structure
    5.5    Key Industrial Trends
6    Market Snapshot
7    Opportunities and Challenges in the Market
8    Global Shrimp Market Overview

    8.1    Key Industry Highlights
    8.2    Global Shrimp Historical Market (2018-2023) 
    8.3    Global Shrimp Market Forecast (2024-2032)
    8.4    Global Shrimp Market Share by Region
        8.4.1    North America
        8.4.2    Europe
        8.4.3    Asia Pacific
        8.4.4    Latin America
        8.4.5    Middle East and Africa
9    India Shrimp Market Overview
    9.1    Key Industry Highlights
    9.2    India Shrimp Historical Market (2018-2023) 
    9.3    India Shrimp Market Forecast (2024-2032)
10    India Shrimp Market by Environment
    10.1    Farming
        10.1.1    Historical Trend (2018-2023)
        10.1.2    Forecast Trend (2024-2032)
    10.2    Processing
        10.2.1    Historical Trend (2018-2023)
        10.2.2    Forecast Trend (2024-2032)
11    India Shrimp Market by Species
    11.1    Penaeus Vannamei
        11.1.1    Historical Trend (2018-2023)
        11.1.2    Forecast Trend (2024-2032)
    11.2    Penaeus Monodon
        11.2.1    Historical Trend (2018-2023)
        11.2.2    Forecast Trend (2024-2032)
    11.3    Macrobrachium Rosenbergii
        11.3.1    Historical Trend (2018-2023)
        11.3.2    Forecast Trend (2024-2032)
    11.4    Others
12    India Shrimp Market by Product Category
    12.1    Peeled
        12.1.1    Historical Trend (2018-2023)
        12.1.2    Forecast Trend (2024-2032)
    12.2    Shell-on
        12.2.1    Historical Trend (2018-2023)
        12.2.2    Forecast Trend (2024-2032)
    12.3    Cooked
        12.3.1    Historical Trend (2018-2023)
        12.3.2    Forecast Trend (2024-2032)
    12.4    Breaded 
        12.4.1    Historical Trend (2018-2023)
        12.4.2    Forecast Trend (2024-2032)
    12.5    Others
13    India Shrimp Market by Sales Channel
    13.1    Hypermarkets and Supermarkets
        13.1.1    Historical Trend (2018-2023)
        13.1.2    Forecast Trend (2024-2032)
    13.2    Hotels and Restaurants
        13.2.1    Historical Trend (2018-2023)
        13.2.2    Forecast Trend (2024-2032)
    13.3    Convenience Stores
        13.3.1    Historical Trend (2018-2023)
        13.3.2    Forecast Trend (2024-2032)
    13.4    Online
        13.4.1    Historical Trend (2018-2023)
        13.4.2    Forecast Trend (2024-2032)
    13.5    Others
14    India Shrimp Market by Region
    14.1    North India
        14.1.1    Historical Trend (2018-2023)
        14.1.2    Forecast Trend (2024-2032)
    14.2    East and Central India
        14.2.1    Historical Trend (2018-2023)
        14.2.2    Forecast Trend (2024-2032)
    14.3    West India
        14.3.1    Historical Trend (2018-2023)
        14.3.2    Forecast Trend (2024-2032)
    14.4    South India
        14.4.1    Historical Trend (2018-2023)
        14.4.2    Forecast Trend (2024-2032)
15    Market Dynamics
    15.1    SWOT Analysis
        15.1.1    Strengths
        15.1.2    Weaknesses
        15.1.3    Opportunities
        15.1.4    Threats
    15.2    Porter’s Five Forces Analysis
        15.2.1    Supplier’s Power
        15.2.2    Buyer’s Power
        15.2.3    Threat of New Entrants
        15.2.4    Degree of Rivalry
        15.2.5    Threat of Substitutes
    15.3    Key Indicators for Demand
    15.4    Key Indicators for Price
16    Competitive Landscape
    16.1    Market Structure
    16.2    Company Profiles
        16.2.1    Nekkanti Sea Foods Limited
            16.2.1.1    Company Overview
            16.2.1.2    Product Portfolio
            16.2.1.3    Demographic Reach and Achievements
            16.2.1.4    Certifications
        16.2.2    Devi Sea Foods Ltd
            16.2.2.1    Company Overview
            16.2.2.2    Product Portfolio
            16.2.2.3    Demographic Reach and Achievements
            16.2.2.4    Certifications
        16.2.3    BMR Group
            16.2.3.1    Company Overview
            16.2.3.2    Product Portfolio
            16.2.3.3    Demographic Reach and Achievements
            16.2.3.4    Certifications
        16.2.4    Jayalakshmi Sea Foods Pvt. Ltd. 
            16.2.4.1    Company Overview
            16.2.4.2    Product Portfolio
            16.2.4.3    Demographic Reach and Achievements
            16.2.4.4    Certifications
        16.2.5    SSF Limited
            16.2.5.1    Company Overview
            16.2.5.2    Product Portfolio
            16.2.5.3    Demographic Reach and Achievements
            16.2.5.4    Certifications
        16.2.6    Apex Frozen Foods Ltd.
            16.2.6.1    Company Overview
            16.2.6.2    Product Portfolio
            16.2.6.3    Demographic Reach and Achievements
            16.2.6.4    Certifications
        16.2.7    Megaa Moda Private Limited (MMPL)
            16.2.7.1    Company Overview
            16.2.7.2    Product Portfolio
            16.2.7.3    Demographic Reach and Achievements
            16.2.7.4    Certifications
        16.2.8    Zeal Aqua Limited
            16.2.8.1    Company Overview
            16.2.8.2    Product Portfolio
            16.2.8.3    Demographic Reach and Achievements
            16.2.8.4    Certifications
        16.2.9    Coastal Corporation Limited
            16.2.9.1    Company Overview
            16.2.9.2    Product Portfolio
            16.2.9.3    Demographic Reach and Achievements
            16.2.9.4    Certifications
        16.2.10    BKV Industries Limited
            16.2.10.1    Company Overview
            16.2.10.2    Product Portfolio
            16.2.10.3    Demographic Reach and Achievements
            16.2.10.4    Certifications
        16.2.11    Others 
17    Key Trends and Developments in the Market

 

List of Key Figures and Tables

1.    Global Shrimp Market: Key Industry Highlights, 2018 and 2032
2.    India Shrimp Market: Key Industry Highlights, 2018 and 2032
3.    India Shrimp Historical Market: Breakup by Environment (KMT), 2018-2023
4.    India Shrimp Market Forecast: Breakup by Environment (KMT), 2024-2032
5.    India Shrimp Historical Market: Breakup by Species (KMT), 2018-2023
6.    India Shrimp Market Forecast: Breakup by Species (KMT), 2024-2032
7.    India Shrimp Historical Market: Breakup by Product Category (KMT), 2018-2023
8.    India Shrimp Market Forecast: Breakup by Product Category (KMT), 2024-2032
9.    India Shrimp Historical Market: Breakup by Sales Channel (KMT), 2018-2023
10.    India Shrimp Market Forecast: Breakup by Sales Channel (KMT), 2024-2032
11.    India Shrimp Historical Market: Breakup by Region (KMT), 2018-2023
12.    India Shrimp Market Forecast: Breakup by Region (KMT), 2024-2032
13.    India Shrimp Market Structure

Key Questions Answered in the Report

In 2023, the India shrimp market reached a volume of 0.93 million tons. 

The market is expected to grow at a CAGR of 9.60% between 2024 and 2032.

The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach around 2.12 million tons by 2032.

The major drivers of the market are rising disposable incomes, increasing population, growing demand for convenient and ready-to-eat food, changing lifestyles, and increasing availability of shrimp.

Governmental support for sustainable shrimp farming, surging health consciousness, and rising exports of shrimp are expected to be the major trends driving the growth of the market.

The major states in the market are Andhra Pradesh, West Bengal, and Gujarat, among others.

The significant species of shrimp in the market are Penaeus Vannamei and Penaeus Monodon, among others.

The key players in the market are Nekkanti Sea Foods Limited, Devi Sea Foods Ltd, BMR Group, Jayalakshmi Sea Foods Pvt. Ltd., SSF Limited, Apex Frozen Foods Ltd., Megaa Moda Private Limited (MMPL), Zeal Aqua Limited, Coastal Corporation Limited, and BKV Industries Limited, among others.

Analyst Review

The India shrimp market attained a volume of 0.93 million tons in 2023 driven by changing lifestyles of consumers and growing exports of the product. Aided by the rising health awareness and a shift towards sustainable farming practices, the market is expected to witness a further growth in the forecast period of 2024-2032, growing at a CAGR of 9.60%. The market is projected to reach 2.12 million tons by 2032.

 

EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. By environment, the market is bifurcated into farming and processing. Based on species, the India shrimp market has been segmented into Penaeus Vannamei, Penaeus Monodon, and Macrobrachium Rosenbergii, among others. On the basis of the product category, the India shrimp market is divided into peeled, shell-on, cooked, and breaded, among others. Based on sales channel, the market is segmented into hypermarkets and supermarkets, hotels and restaurants, convenience stores, and online, among others. The major regional markets for shrimp in India are North India, East and Central India, West India, and South India. The key players in the above market include Nekkanti Sea Foods Limited, Devi Sea Foods Ltd, BMR Group, Jayalakshmi Sea Foods Pvt. Ltd., SSF Limited, Apex Frozen Foods Ltd., Megaa Moda Private Limited (MMPL), Zeal Aqua Limited, Coastal Corporation Limited, and BKV Industries Limited, among others.

 

EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.  

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