According to the latest report by IMARC Group, titled "Indian Shrimp Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027," the Indian shrimp market reached a value of US$ 6.5 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 12.7 Billion by 2027, exhibiting a CAGR of 11.5% during 2022-2027.
Shrimp is an invertebrate marine decapod crustacean with a semitransparent and elongated body. It is generally found in deep and shallow waters and streams. Shrimp is a rich source of essential vitamins, omega-3 fatty acids, selenium, protein, and iodine that assist in eliminating inflammation, maintaining a healthy lean body mass, enhancing bone strength, and reducing high blood pressure levels. Additionally, shrimp exhibits antioxidant properties, which aid in recovering from chronic diseases and improving skin elasticity. Consequently, it is extensively consumed as a seafood delicacy in frozen and fresh forms.
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We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Indian Shrimp Market Trends:
The increasing health consciousness and the shifting consumer inclination toward nutritious meals have facilitated the widespread incorporation of shrimp in the food and beverage (F&B) sector for preparing exotic seafood dishes. This, along with the increasing awareness regarding the health benefits associated with their consumption, is primarily driving the market growth. Additionally, the rising environmental concerns have prompted the Government of India (GoI) to implement a sustainable aquaculture farming approach to fuel shrimp production, which, in turn, is propelling the market growth. Apart from this, the increasing demand for ready-to-eat (RTE) products and strategic collaborations amongst key players to launch innovative product variants in different packaging solutions are contributing to the market growth.
Indian Shrimp Market 2022-2027 Competitive Analysis and Segmentation:
Competitive Landscape With Key Players:
The competitive landscape of the Indian shrimp market has been studied in the report with the detailed profiles of the key players operating in the market.
Some of these key players include:
- Nekkanti Sea Foods Limited
- Avanti Frozen Foods Private Limited
- Devi Sea Foods Limited
- Falcon Marine Exports Ltd
- BMR Group
- Baby Marine (Eastern) Exports
- Sandhya Marines Ltd
- Apex Frozen Foods Limited
- Ananda Aqua Exports Private Limited
- Crystal Sea Foods Private Limited
- Citrus Alpha Marine LLP
- Jaya Lakshmi Seafoods Private Limited
- Ifb Agro Industries Limited
- SSF Limited
- M.Fisheries
- JRJ Seafoods India Private Limited
- Anjaneya Sea Foods
- Kings Infra Ventures Limited
- Kadalkanny Frozen Foods
- The Waterbase Limited
- Geo Sea Foods Exports Private Limited
- Abad Fisheries Private Limited
- K V Marine Exports
- Liberty Group of Seafood Companies
- Kader Exports Private Limited
- Liberty Frozen Foods Private Limited
- Devi Marine Foods Exports Private Limited
- Zeal Aqua Limited
- Frontline Exports Private Limited
- Jude Foods India Private Limited.
Key Market Segmentation:
The report has segmented the Indian shrimp market on the basis of species, shrimp size and region.
Breakup by Species:
- Penaeus Vannamei
- Penaeus Monodon
- Others
Breakup by Shrimp Size:
- Size 31-40
- Size 41-50
- Size 51-60
- Size 61-70
- Size >70
- Others
Breakup by State:
- West Bengal
- Gujarat
- Andhra Pradesh
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Key Highlights of the Report:
- Market Performance (2016-2021)
- Market Outlook (2022-2027)
- Market Trends
- Market Drivers and Success Factors
- Impact of COVID-19
- Value Chain Analysis
- Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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Shrimp is a widely consumed seafood species which belongs to the largest class of crustaceans, called Malacostraca.
Shrimp is a rich source of omega-3 fatty acids, which is used to overcome weight loss, lower blood pressure, improve bone and brain health, relieves eye fatigue, and also helps to reduce the risk of developing cardiovascular diseases.
It also has good level of protein and very low fat.
According to Renub Research Global Shrimp Market is expected to be US$ 24.1 Billion by 2026.
Growing income level and rising demand for shrimp products among consumers across the globe is driving its market.
Governments in many countries are encouraging shrimp production by giving incentives to farmers and by offering fiscal reliefs.
