India Fish Market Outlook
According to the report by Expert Market Research (EMR), the India fish market is projected to grow at a CAGR of 15.7% between 2024 and 2032. Aided by lifestyle changes and rising awareness of fish as a healthy food, the market is expected to grow significantly by 2032.
Fish, an indispensable protein source in many Indian diets, is not just enjoyed for its delightful taste but also revered for its impressive nutrient profile, replete with omega-3 fatty acids, vitamins, and essential minerals. Given the vast coastline India boasts, it’s no surprise that fishing has been an age-old industry, with several coastal communities relying on it as their primary livelihood. Yet, as we delve deeper into the India fish market analysis, it becomes evident that the market’s dynamism is fuelled by factors beyond just tradition and geographical advantage.
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A leading catalyst propelling the India fish market growth is the burgeoning awareness of the health benefits linked to fish consumption. As heart diseases, obesity, and diabetes rates spike, the Indian populous, especially the urban segment, is increasingly opting for healthier protein sources over red meat. This shift is further endorsed by various health institutions and dieticians, recognising fish as a lean protein source with heart-healthy fats.
As per the India fish market analysis, the influence of the export industry is becoming palpable. India, blessed with a diverse aquatic ecosystem, offers a plethora of fish varieties, many of which find eager consumers in international markets. Consequently, the nation has strengthened its aquaculture practices, resulting in improved fish production to meet both domestic and export demands.
Moreover, technological innovations and advancements in cold storage and logistics have reshaped the India fish market dynamics. Regions far from the coast now have access to fresh seafood, previously a luxury, thanks to efficient transportation and storage mechanisms. This has broadened the market reach, allowing vendors in landlocked cities to cater to the escalating India fish market demand.
Further, sustainable fishing practices and aquaculture are gaining traction, reflecting the global emphasis on sustainability. The Indian government, recognising the potential of fisheries, has introduced various schemes and initiatives to promote sustainable fishing and boost the sector’s growth. These measures aim to protect marine ecosystems, ensure the livelihood of fishing communities, and meet the ever-growing demand for fish in the country.
Lastly, a noteworthy trend escalating the India fish market size is the rising popularity of ready-to-cook and ready-to-eat fish products. As urbanisation swells and lifestyles become more hectic, consumers are gravitating towards convenience foods. Recognising this, several players in the fish market are introducing value-added products, further widening their consumer base.
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India Fish Market Segmentation
The market can be divided based on product, fish type, distribution channel, sector, and region.
Market Breakup by Product
- Fresh
- Frozen
- Canned
- Others
Market Breakup by Fish Type
- Inland Fishes
- Indian Major Carps
- Pangasius
- Exotic Carps
- Clarias
- Anabas
- Rupchanda
- Tilapia
- Seabass
- Others
- Marine Fishes
- Shrimps
- Scampi
Market Breakup by Distribution Channel
- Retail
- Institutional and HoReCa
Market Breakup by Sector
- Organised
- Unorganised
Market Breakup by Region
- North India
- East and Central India
- West India
- South India
India Fish Market 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 fish market. Some of the major players explored in the report by Expert Market Research are as follows:
- Silver Sea Food
- Abad Fisheries Private Limited
- Seasaga Group
- Geo Seafood
- Apex Frozen Foods Ltd
- Kirti Foods
- Munnujii Foods International Pvt. Ltd
- Oceans Secret
- Prakash Foods
- Golden Prize India
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