PUBLISHER: IMARC | PRODUCT CODE: 1467725
PUBLISHER: IMARC | PRODUCT CODE: 1467725
The India aquafeed market size reached 1.8 Million Tons in 2023. Looking forward, IMARC Group expects the market to reach 3.7 Million Tons by 2032, exhibiting a growth rate (CAGR) of 8.6% during 2024-2032.
India represents one of the leading aquaculture markets across the globe on account of the rich biodiversity of aquatic species. Consequently, there is a high demand for aquafeed in the country to meet the growing need of aquaculture farmers and the expanding export businesses.
With increasing disposable incomes, growing health consciousness and improving cold chain facilities, seafood sales have expanded from local wet markets to organized retail channels, such as supermarkets. This represents one of the key factors fueling the growth of the aquafeed market in India. Moreover, the growing trend of natural and organic feeds has prompted manufacturers to incorporate high-quality raw materials that offer functional advantages and lower the usage of synthetic components. They are also enhancing the stability of feed pellets, reducing fine proportion, and improving pellets density and extension. Another major factor driving the industry growth is t significant shift from homemade feed to commercially available product variants. Along with enhancing the bioavailability of various nutrients, the commercial feed also helps in reducing environmental pollution and increasing profit margins. Furthermore, the Government of India is offering various subsidies for fish and shrimp farmers, which in turn is stimulating the growth of the aquafeed industry.
IMARC Group provides an analysis of the key trends in each sub-segment of the India aquafeed market report, along with forecasts at the country and regional level from 2024-2032. Our report has categorized the market based on species, ingredients, additives and product form.
Carp Feeds
Marine Shrimps
Tilapias
Catfishes
Marine Fishes
Salmons
Freshwater (FW) Crustaceans
Trouts
Others
Soybean
Corn
Fish Meal
Fish Oil
Additives
Others
Vitamins and Minerals
Antioxidants
Feed Enzymes
Others
Pellets
Extruded
Powdered
Liquid
North India
West and Central India
South India
East India
The competitive landscape of the industry has also been examined along with the profiles of the key players being Alltech Biotechnology Pvt. Ltd. (Alltech, Inc.), Avanti Feeds Limited, Cargill India Private limited (Cargill Inc.), Godrej Agrovet Limited (Godrej Group), Growel Feeds Private Limited, IB Group, Skretting Aquaculture India Private Limited (Nutreco NV) and UNO Feeds.