India Aquaculture & Marine Products Market : Trends, Competition, and Industry Size Forecasts

Increasing demand for marine products to drive India’s aquaculture & marine products market. According to TechSci Research report, “India Aquaculture & Marine Products Market By Rearing Product Type (Equipment, Chemicals, Pharmaceuticals, Fertilizers, Others), By Type (Fisheries, Seaweeds, Microalgae, Crustaceans, Molluscs, Others), By Production Type (Small-Scale, Medium & Large Scale), By Culture (Freshwater, Brackish Water, Marine), By Region, Forecast & Opportunities, 2025”, the Indian aquaculture & marine products market is expected to grow at a steady rate during the forecast period on account of increasing need to maintain food safety & security.

The Important Aspects of Indian Aquaculture & Marine Products Market

Additionally, a drastic decrease in the natural feedstock is further expected to increase the demand for aquaculture & marine products. Furthermore, ongoing advancements with respect to offshore and open aquaculture techniques are expected to create lucrative opportunities for market growth through 2025. Besides, growing smart fishing activities are further expected to foster market growth in the country. Also, aquaculture has emerged as a source of employment in India and helps in improving the socio-economic status of those involved in it, thereby positively influencing the market growth.

However, increasing water pollution might pose a challenge to the health of aquatic life, thereby hampering the market growth. Also, uncertain climatic conditions and fluctuating temperatures impact the reproduction cycle of aquatic life, which might further impede the market growth.

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The India aquaculture & marine products market is segmented based on rearing product type, type, production type, culture, company, and region. Based on rearing product type, the market can be fragmented into equipment, chemicals, pharmaceuticals, fertilizers and others. Here, the chemicals segment is expected to register the highest growth in the market owing to their extensive use in pond preparation, improving the health of the aquatic environment, and disease control, among others. Based on product type, the market can be segmented into small-scale and medium & large scale. Among these, the small-scale production type segment is expected to dominate the market owing to the growing demand for marine products in the country for both consumption and export. Based on culture, the market can be grouped into freshwater, brackishwater, and marine. Out of these, the freshwater segment is expected to dominate the market owing to the increase in the number of artificial ponds meant for aquaculture. However, the marine culture segment is expected to hold a significant market share owing to the increasing demand for seafood products and declining capture in fishery landings from the oceans. Additionally, ongoing technological advancements such as water recirculation systems are expected to further drive segmental growth.

The Major competitors of India Aquaculture & Marine Products Market

• Avanti Feeds Ltd.
• Cargill Inc
• The Waterbase Limited
• Aller Aqua
• Altech
• Archer Daniels Midland Co.
• BASF SE
• Nutreco NV
• Growel Feeds Private Limited
• The Waterbase Limited and others are some of the leading players operating in India aquaculture & marine products market. The companies operating in the market are using organic strategies such as product launches, mergers, and collaborations to boost their share.

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“Indian aquaculture & marine products market is expected to witness significant growth during the forecast period on account of the fact that India is an export-oriented country and hence, aquaculture and fish farming are sectors of key importance to the country. Furthermore, increasing demand for frozen foods and ready-to-eat food items with longer shelf life has increased the demand for marine products, thereby propelling market growth. Additionally, increasing expenditure on R&D and new product developments by major players operating in the market is expected to create lucrative opportunities for market growth through 2025.” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based India management consulting firm.

“India Aquaculture & Marine Products Market By Rearing Product Type (Equipment, Chemicals, Pharmaceuticals, Fertilizers, Others), By Type (Fisheries, Seaweeds, Microalgae, Crustaceans, Molluscs, Others), By Production Type (Small-Scale, Medium & Large Scale), By Culture (Freshwater, Brackish Water, Marine), By Region, Forecast & Opportunities, 2025”, has evaluated the future growth potential of India aquaculture & marine products market and provides statistics & information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision-makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in India aquaculture & marine products market.

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