According to a new report by Expert Market Research titled, “India Shrimp Feed Market Share, Size, Report and Forecast 2024-2032″, the India shrimp feed market size is projected to grow at a CAGR of 10% between 2024 and 2032. Aided by rising marine industry and innovations in feed formulations, the market is expected to grow significantly by 2032.
Shrimp feed is a formulated food that provides essential nutrients to farmed shrimp. It plays a vital role in enhancing the growth, immunity, and health of the shrimp, which, in turn, increases the yield and quality of the shrimp produce. The major components of shrimp feed include proteins, fats, vitamins, minerals, and an energy source, such as carbohydrates.
India is one of the leading producers of farmed shrimp in the world, with Andhra Pradesh, West Bengal, and Gujarat being the major shrimp producing states. The thriving aquaculture sector in the country is a significant India shrimp feed market trend.
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India is a major exporter of shrimp products, especially to the United States, European Union, and Southeast Asian countries. The growing demand for high-quality shrimp in these regions is encouraging Indian farmers to adopt better aquaculture practices, including the use of formulated feeds.
The Indian government’s supportive policies, such as subsidies on aquaculture inputs and efforts to boost seafood exports, have also played a pivotal role in propelling the India shrimp feed market growth.
Andhra Pradesh dominates the shrimp feed market in India due to its extensive coastal line and favourable climate for shrimp farming. Other significant markets include West Bengal, Gujarat, Tamil Nadu, and Odisha.
Prominent India shrimp feed market players include Avanti Feeds Limited, CP Aquaculture (India) Pvt. Ltd, Godrej Agrovet Limited, and The Waterbase Limited. These companies focus on expanding their production capacities, launching innovative and cost-effective products, and strengthening their distribution networks.
As the global demand for sustainable and high-quality seafood continues to rise, the shrimp farming sector in India is expected to adopt advanced and sustainable aquaculture practices, boosting the India shrimp feed market demand.
Increasing research and development are leading to the formulation of feeds with lower fishmeal content, making use of alternative proteins, which could make shrimp farming more sustainable and reduce the cost of feed.
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Market Segmentation
The market can be divided based on type, ingredients, additives, and region.
Market Breakup by Type
• Grower
• Finisher
• Starter
Market Breakup by Ingredients
• Soybean Meal
• Fish Meal
• Wheat Flour
• Fish Oil
• Others
Market Breakup by Additives
• Vitamins and Proteins
• Fatty Acids
• Antioxidants
• Feed Enzymes
• Antibiotics
• Others
Market Breakup by Region
• Andhra Pradesh
• West Bengal
• Tamil Nadu and Pondicherry
• Gujarat
• Odisha
• Maharashtra
• Others
Competitive Landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the India shrimp feed market. Some of the major players explored in the report by Expert Market Research are as follows:
• CPF (India) Private Limited
• Coastal Feeds
• Godrej Agrovet
• Grobest
• Growel Feeds PVT. LTD.
• Avanti Feeds Limited
• The Waterbase Limited
• Others
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