The new report by Expert Market Research titled, ‘India Basa Fish Market Report and Forecast 2022-2027’, gives an in-depth analysis of the India Basa fish market, assessing the market based on its segments like product types, sources, end uses, and regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2017-2027)
• Historical Market Size (2021): INR 1367.5 billion
• Forecast CAGR (2022-2027): 10.50%
India Basa fish industry is being driven by the rising demand for fish-based products owing to the increasing inclination towards health, fitness, and bodybuilding in the country. Basa fish contains high-protein and less calories. This makes it an ideal meal for the diet-conscious consumers. In addition, the rapid development of continental food hubs in metropolitan cities of India is likely to propel the demand for Basa fish in the forecast period. Moreover, the rising cases of cardiovascular, musculoskeletal, and heart-related diseases in the country is likely to bolster the demand for seafood products, which is estimated to support the market growth. Furthermore, the rapid urbanisation, increased travel and tourism activities, high demand for seafood, and increasing foot fall in restaurants are some of the factors propelling the market growth in the country.
Industry Definition and Major Segments
Basa fish refers to a type of catfish which contains high protein and is low in calories. The flesh of this fish has a mild and delicious flavour, which makes it a popular seafood choice. Moreover, Basa fish are native to Mekong and Chao Phraya rivers in the South Asian region. The fish is beneficial for health and is a rich source of omega-3 fatty acids.
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The Basa fish industry, based on product type, can be segmented into:
• Fresh
• Frozen
By source, the market has been bifurcated into:
• Imported
• Local
The significant end uses of Basa fish include:
• Institutional
• Retail
The regional markets for Basa fish include:
• North India
• South India
• East India
• West India
Market Trends
The expansion of the e-commerce industry in India is likely to be a key trend contributing towards the market growth. For instance, in October 2021, India’s largest e-fish market app known as ‘Fishwaale’ was launched in Assam. The application aims to provide diversified fish products including fish pickles, table fish, and dry fish, among others to consumers. Furthermore, the advancements in aquaculture techniques in the region are likely to be another key trend which is likely to augment the market growth in the forecast period.
Key Market Players
The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of the major players in the India Basa fish market.
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