Fish Market In India Price, Outlook, Size, Demand, Key Player & Forecast by 2024
The Indian fish market has witnessed positive growth over the past few years. The contribution of the fish industry in providing livelihood and employment in India along with several initiatives by the Government for increasing fish production are driving the market growth.
According to the latest report by IMARC Group, titled “Indian Fish Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024”, the Indian fish market price reached of INR 1,110 Billion in 2018. Fishing is practiced along the entire length of the Indian coastline as well as at the banks of many rivers flowing across the country. It covers numerous activities such as the capturing, culturing, preserving, transporting, processing, marketing or selling of fish and other related products. The Indian fish industry plays a vital role in providing employment, livelihood and food security across the region. In addition, the industry is a major contributor to the country’s overall exports of food products. A shift towards mechanization and the adoption of modern methods for fish processing are currently promoting fish production in India.
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Fishes are perceived as a rich source of digestible protein and polyunsaturated fatty acids, owing to which their demand is increasing among health-conscious consumers. Moreover, the country has emerged as a major exporter of frozen shrimp and fish products to numerous international markets. However, a significant part of the total area available for fishing activities is still left unutilized in the country. This untapped growth potential has made the Indian fish industry an attractive market for foreign investors. Apart from this, the presence of fishing infrastructure and liberalized policies and regulations are also supporting the inflow of foreign investments. Looking forward, the market value is projected to reach INR 1,998 Billion by 2024, expanding at a CAGR of 10.2% during 2019-2024.
• On the basis of fish types, the market is categorized into inland fishes, marine fishes, shrimp and scampi. Amongst these, inland fishes are the most popular fish type. Inland aquaculture is a major fish production system in the country owing to various initiatives by the Government.
• Based on product types, the market has been segregated into fresh, frozen, canned and others. Amongst these, fresh fish currently represents the largest segment owing to their easy availability in wet markets.
• The fish market in India has been segmented on the basis of end-users which include retail and institutional sectors.
• On the basis of distribution channels, the market has been segregated into unorganized and organized sectors. The unorganized sector currently dominates the fish sales in India, holding the dominant share.
• State-wise, the market is divided into West Bengal, Andhra Pradesh, Karnataka, Kerala, Gujarat, Tamil Nadu and Maharashtra. Currently, Andhra Pradesh accounts for the majority of the fish production in India, accounting for the largest market share.
• The competitive landscape of the Indian fish industry has also been examined with the detailed profiles of the key players.
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