India Shrimp Market

India shrimp production reached 902.53 thousand tonnes in 2022 with a growth rate of 17% during the period from 2010 to 2022 (CAGR). Shrimp plays a crucial role in the global seafood supply chain, with India emerging as a key player in meeting this demand. As one of the largest exporters of shrimp, India contributes significantly to fulfilling the global demand for seafood, particularly in markets like the United States, Europe, and Japan.

Importance of India in Global Supply of Shrimp Market

The shrimp market in India has witnessed significant growth in recent years due to increasing demand both domestically and internationally. India is one of the largest shrimp producers globally, with the industry contributing significantly to the country's aquaculture sector. The favorable climate conditions, abundant water resources, and government initiatives to promote aquaculture have all contributed to the expansion of the Indian shrimp market.
In the fiscal year 2022-23, India achieved a record fish production of 17.55 million tonnes, solidifying its position as the world's third-largest fish-producing nation. This accounts for 8% of global production and contributes approximately 1.09% to the country’s Gross Value Added (GVA) and over 6.724% to the agricultural GVA. For the fiscal year 2024–2025, the Department of Fisheries has been given an amount of Rs. 2,584.50 crore (~USD 309 million), which is the biggest sum ever given to the department. Government support and continuous advancements in aquaculture technology have significantly boosted shrimp production in India. Innovations such as improved breeding techniques, disease management practices, and efficient feed formulations have led to higher yields and better-quality shrimp.
According to Food and Agricultural Organization (FAO), India production is estimated to decline by 12-15% in 2023 as farmers reduced stocking density of shrimp in ponds due to declining global market prices.

Market Growth Factors & Opportunities

Increasing Consumer Demand Due to Rising Awareness of Health Benefits
Shrimp enjoys a growing popularity among consumers globally due to its taste, nutritional value, and versatility in cooking. As incomes rise and dietary preferences evolve, particularly in emerging markets, the demand for shrimp is expected to continue increasing. As health-conscious consumers increasingly prioritize nutrient-dense foods that support their well-being, the demand for shrimp as a healthy protein source is expected to rise. This trend is further fueled by the growing prevalence of lifestyle-related health conditions such as obesity, diabetes, and cardiovascular diseases, prompting individuals to make healthier dietary choices.
Shrimp is recognized for its high protein content, low fat levels, and various essential nutrients. Shrimp is rich in various essential nutrients, including omega-3 fatty acids, vitamins, and minerals. Omega-3 fatty acids, in particular, are known for their role in supporting brain health, reducing inflammation, and lowering the risk of chronic diseases such as heart disease and arthritis. Additionally, shrimp provides essential vitamins and minerals like vitamin B12, selenium, and zinc, which are important for energy metabolism, immune function, and overall well-being. As health-conscious consumers seek out nutritious food options, the demand for shrimp as a healthy protein source is expected to rise, further driving market growth.

Competitive Pricing Supporting Export Opportunities
India's shrimp industry benefits from competitive pricing compared to other major shrimp-producing countries. Factors such as lower production costs, abundant labor supply, and economies of scale enable Indian exporters to offer competitive prices in the global market, attracting buyers seeking value for money. India exported 711.10 thousand tonnes of frozen shrimp products in FY 2023, and exports valued at USD 5.48 billion.
India is a major exporter of shrimp to key international markets such as the United States, European Union, and Japan. The growing demand for seafood in these regions, coupled with India's competitive pricing and adherence to quality standards, presents significant export opportunities for Indian shrimp producers.

Market Restraints

Price Volatility and Infrastructure Constraints
Fluctuations in shrimp prices, influenced by factors such as currency exchange rates, global supply-demand dynamics, and trade policies, pose risks to both producers and traders. Price volatility can affect profit margins and investment decisions in the shrimp industry.
Inadequate infrastructure, including cold storage facilities, transportation networks, and processing plants, hampers the efficiency of the shrimp supply chain in India. Poor infrastructure leads to post-harvest losses, quality degradation, and logistical challenges, impacting the competitiveness of Indian shrimp products in international markets.

India Shrimp Supply/Value Chain Bottlenecks/Challenges

The Indian shrimp supply chain is complex, involving multiple stages from hatcheries to processing units before reaching export markets. One of the key bottlenecks is the inconsistent quality of shrimp due to varying farming practices across regions. This inconsistency can affect marketability in international markets that demand high standards. Additionally, logistical challenges such as inadequate transportation infrastructure and delays in processing can lead to significant post-harvest losses. The lack of cold storage facilities in some regions exacerbates this issue, compromising shrimp quality during transit. Regulatory compliance, both domestically and internationally, also poses a challenge, with farmers and exporters needing to navigate a maze of certifications and standards to access global markets.

Shrimp Setting Power of India

India’s setting power in the shrimp industry is largely derived from its ability to produce high volumes at competitive prices. The country’s vast coastline and favorable climate enable large-scale production, while the availability of low-cost labor further enhances its competitive advantage. India's position as a reliable supplier of quality shrimp, coupled with its strong export-oriented approach, solidifies its standing in the global market.

Price Setting Power of India in Global Shrimp Value Chain

India’s setting power in the shrimp industry is largely derived from its ability to produce high volumes at competitive prices. The country’s vast coastline and favorable climate enable large-scale production, while the availability of low-cost labor further enhances its competitive advantage. India's position as a reliable supplier of quality shrimp, coupled with its strong export-oriented approach, solidifies its standing in the global market.

Shrimp End-use Industries

Shrimp in India primarily serves the export market, with a significant portion going to the USA, Europe, and Japan. Domestically, shrimp is utilized in the food processing industry, where it is prepared for ready-to-eat meals, canned products, and frozen food items. The hospitality sector, including restaurants and hotels, also represents a substantial end-use industry, with shrimp being a popular item on menus due to its versatility and appeal to both domestic and international tourists.

Shrimp Trade (Export & Import) Trend

India has consistently maintained its position as a leading exporter of shrimp, with a significant portion of its production being exported to the USA, followed by Europe and Japan. Over the past decade, export volumes have steadily increased due to growing global demand and India's ability to offer shrimp at competitive prices. While exports dominate, imports are minimal, mainly consisting of shrimp feed and related aquaculture inputs. However, the trade landscape is influenced by international regulations, currency fluctuations, and global market dynamics, which can impact trade volumes and revenue.

India Shrimp Market Competitive Analysis

The competitive scenario in the India shrimp market depicts a dynamic landscape marked by intense rivalry among industry players striving to capture market share and sustain profitability. With a multitude of stakeholders operating across the shrimp farming, processing, and export segments, competition is fierce.
Established companies like Avanti Frozen Foods Pvt. Ltd. and The Waterbase Limited maintain dominant positions through their extensive distribution networks, product diversification, and adherence to stringent quality standards. Additionally, emerging players are entering the market with innovative offerings and strategic alliances, intensifying competition further. Factors such as technological advancements, regulatory compliance, and market penetration strategies significantly influence the competitive dynamics.
Success in this competitive environment hinges on a combination of operational efficiency, product differentiation, and effective market positioning, making it imperative for players to continually innovate and adapt to changing market conditions to maintain their competitive edge.

Key Players in India Shrimp Market (Producers/ Processors/ Exporters),

        ■ Avanti Frozen Foods Pvt. Ltd
        ■ The Waterbase Limited
        ■ BKV Industries Ltd.
        ■ Coastal Corporation Limited
        ■ Zeal Aqua
        ■ IFB Agro Industries Ltd.
        ■ Suryo Foods & Industries Limited
        ■ Apex Frozen Foods
        ■ Nekkanti Sea Foods Limited
        ■ Kadalkanny Frozen Foods

Future Outlook

The future of the Indian shrimp market looks promising, with expectations of continued growth driven by technological advancements and increasing global demand. The government’s ongoing support for the aquaculture sector and the development of infrastructure are likely to enhance production capacities and export potential. However, addressing environmental concerns and ensuring compliance with international standards will be critical to sustaining growth. By 2030, India is expected to solidify its position as a global leader in shrimp production and exports, provided it continues to innovate and adapt to the evolving market landscape.

Report Coverage

The India shrimp market report covers historical market data from 2010-2023 and projections to 2030. The report also includes supply & demand and trade (import-export) market analysis. The decision matrix analysis helped in identifying the barriers and their implications on the value chain and different factors of relative significance to the India shrimp market are diligently tracked and their impact closely monitored for short, medium, and long-term market cycles. The report's contents cover an analysis of the aspects involved in the shrimp market such as the parent market, the evolution of the industry, innovative technologies in the manufacturing process, supply chain, and listing of key exporters.

Scope of the Report

Report Attributes	Details
Historical Years	2010–2022
Base Year	2023
Forecast Period	2024–2030
Units	Value (US$ Million) and Volume (Tonnes)
Report Coverage	Production, Consumption, Export, and Import
Segments Covered	By Type (Whiteleg Shrimp, Tiger Shrimp, Indian white shrimp, and Others), by Size, and Application
Geographies Covered	India
Companies Profiled	The market players include Avanti Frozen Foods Pvt. Ltd, The Waterbase Limited, BKV Industries Ltd., Coastal Corporation Limited, Zeal Aqua, IFB Agro Industries Ltd., Suryo Foods & Industries Limited, Apex Frozen Foods, Nekkanti Sea Foods Limited, and Kadalkanny Frozen Foods, and more.

Please request for a sample report to learn more about the report coverage (Contact us at: sales@statledger.com or +91-9226-888268).

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FAQs:

1. What is the production size of the shrimp in India?
India produced 902.53 thousand tonnes of shrimp in 2022.

2. What is the major shrimp species produced in India?
India is the world's second-largest producer of whiteleg shrimp (Penaeus/ Litopenaeus vannamei).

3. Which are the major shrimp exporting countries?
India, Ecuador, Vietnam, Indonesia, Thailand, China, and Bangladesh stand as the foremost nations in shrimp exports globally, collectively representing over 80% of the total.

4. Which are the major shrimp importing countries?
China, USA, Japan, Spain, France, Italy, and S. Korea were the major importers of shrimp in 2023, globally.

5. What was the India fish production 2023?
India fish production reached 17.55 million tonnes in 2022-23FY.

Table of Contents: India Shrimp Market – Trend Analysis & Forecast to 2030

1. Executive Summary
2. Introduction
    2.1. Objectives & Scope of the Study
    2.2. Definitions & Economic Importance
    2.3. Research Methodology
    2.4. Factors and Decision Matrix Analysis
    2.5. Limitations & Challenges
3. Product/Market Overview
    3.1. Evolution/ Origin & Geographic Suitability
    3.2. Shrimp: Product Images
    3.3. Shrimp Production Seasonality
    3.4. Processing & Grading
    3.5. Regulatory Analysis
4. India: Country Profile
5. India Shrimp Market Growth Factors Analysis
    5.1. Drivers and Restraints Analysis
    5.2. Challenges and Opportunities Analysis
    5.3. India Shrimp Industry SWOT Analysis
    5.4. India Shrimp Market PESTEL Analysis
    5.5. India Shrimp Market Porter's Five Forces analysis
6. India Shrimp Market: Supply Analysis
    6.1. Shrimp Supply Analysis (Production)
    6.2. Shrimp Supply Analysis, by Type
            6.2.1. Whiteleg Shrimp (Penaeus vannamei)
            6.2.2. Tiger Shrimp (Penaeus monodon)
            6.2.3. Indian white shrimp (Penaeus indicus)
            6.2.4. Others
    6.3. Shrimp Supply Analysis, by State
7. India Shrimp Market: Demand Analysis
    7.1. Domestic Shrimp Demand
            7.1.1. Domestic Consumption
            7.1.2. Processing (Frozen and Canned)
    7.2. Export Demand
    7.3. Shrimp Supply Chain Analysis
8. India Shrimp Market: Trade (Export & Import) Analysis
    8.1. Shrimp Export Trend Analysis
    8.2. Top 10 Export Destinations of India Shrimp
9. India Shrimp Market: Price Trend Analysis
    9.1. Domestic Price Trend
    9.2. Export Price Trend
    9.3. Price Seasonality
10. Competitive Analysis
    10.1. India Shrimp Market Mapping
            10.1.1. List of Key Companies Supplying Shrimp from India
            10.1.2. List of Key Companies Importing Shrimp from India
    10.2. Company Profiles
            10.2.1. Avanti Frozen Foods Pvt. Ltd
            10.2.2. The Waterbase Limited
            10.2.3. BKV Industries Ltd.
            10.2.4. Coastal Corporation Limited
            10.2.5. Zeal Aqua
            10.2.6. IFB Agro Industries Ltd.
            10.2.7. Suryo Foods & Industries Limited
            10.2.8. Apex Frozen Foods
            10.2.9. Nekkanti Sea Foods Limited
            10.2.10. Kadalkanny Frozen Foods
11. Conclusion
12. Appendix

Table 1: India Shrimp Production Volume (Tonnes) (2010-2030)
Table 2: India Shrimp Production, Value (Tonnes) (2010-2030)
Table 3: India Shrimp Market, Demand Volume Details (Volume) (2015-2025)
Table 4: India Shrimp Production Analysis, by State (2010-2022)
Table 5: India Shrimp Export Trend, by Value (2010-2030)
Table 6: India Shrimp Export Trend, by Volume (2010-2030)
Table 7: India Shrimp Export Destinations by Volume (in %share) (2015-2023)
Table 8: India Shrimp Export Destinations by Value (in %share) (2015-2023)
Table 9: Top 10 Countries Importing Shrimp from India, by Value
Table 10: Top 10 Countries Importing Shrimp from India, by Volume
Table 11: India Shrimp Export Trend, By Type (2010-2030)
Table 12: India Domestic Shrimp Market Price Trend (2010-2030)
Table 13: India Shrimp Export Market Price Trend, FoB (2010-2030)
Table 14: List of Companies in India Shrimp Industry
Table 15: List of Japan Companies Importing Shrimp from India
Table 16: List of Europe Companies Importing Shrimp from India
Table 17: List of USA Companies Importing Shrimp from India
Table 18: Industry Recent Developments
Table 19: Key Companies involved in Global Shrimp Trade

Figure 1: Shrimp Harvest Seasonality Trend
Figure 2: India Population Dynamics, 2023
Figure 3: India Aquaculture Trend Analysis
Figure 4: India: GDP Annual Growth & Exchange Rate Trend
Figure 5: Global Shrimp Market – An Overview
Figure 6: Global and India Shrimp Production Trend Comparison
Figure 7: India Shrimp Production Trend, 2010-2030 (Volume)
Figure 8: India Shrimp Production Trend, 2010-2030 (Value)
Figure 9: India Domestic Consumption of Shrimp, 2015-2030 (Volume)
Figure 10: India Domestic Processing of Shrimp, 2015-2030 (Volume)
Figure 11: India Shrimp Supply Channel Framework
Figure 12: Shrimp Product Variants Available in the Market
Figure 13: Global Shrimp Production, Volume, 2015-2023
Figure 14: Global Imports of Shrimp, Value (USD Million), 2015-2023
Figure 15: India Shrimp Export, Value, 2010-2030
Figure 16: India Shrimp Export, Volume, 2010-2030
Figure 17: India Shrimp Export Destinations Share (by Volume), 2023
Figure 18: India Shrimp Export Trend, by Value & Volume, 2010-2030
Figure 19: Top 10 Countries Importing Shrimp from India, %share by Value
Figure 20: Top 10 Countries Importing Shrimp from India, %share by Volume
Figure 21: Japan Imports of Shrimp, by Value & Volume (2015-2023)
Figure 22: Europe Imports of Shrimp, by Value & Volume (2015-2023)
Figure 23: USA Imports of Shrimp, by Value & Volume (2015-2023)
Figure 24: India Shrimp Price Trend, Annual Average Prices, 2015-2030
Figure 25: India Price Trend, Monthly Average Prices, 2015-2023