Market Research Report
Indian Fish Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024
|Published by||IMARC Services Private Limited||Product code||731842|
|Published||Content info||102 Pages
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|Indian Fish Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024|
|Published: February 11, 2019||Content info: 102 Pages||
The Indian fish market was worth INR 1,110 Billion in 2018. The market is further projected to reach INR 1,998 Billion by 2024, growing at a CAGR of 10.2% during 2019-2024. Accounting for nearly 6% of the global fish production, India today represents one of the largest producers of fish in the world. Both, domestic consumption as well as export of fishes have witnessed a strong growth in India over the last few years. The per capita consumption of fish has also shown a continuous growth over the last several years. A number of factors are currently driving the consumption of fish in India. These include life style changes, increasing cost of meat and the perception of fish as a healthy food with high levels of digestible protein, PUFA and cholesterol lowering capability.
Indian Fish Market: Drivers
Increasing Per Capita Consumption: The per capita consumption of fish has been continuously increasing over the past few decades. As a result of increasing disposable incomes and changing food habits, we expect the consumption of fish to continue increasing in the coming years.
Growth of Organized Food Retail: The growth of the organized food retail market is expected to increase the accessibility of processed fish, particularly, canned and frozen fish products for consumers. This is expected to create a positive impact on market growth.
Increasing Awareness on the Health Benefits of Fishes: The market for health and wellness foods in India is currently exhibiting strong growth. As previously discussed, fishes are perceived as a healthy food containing high levels of digestible protein, PUFA and cholesterol lowering capability. Increasing awareness of fish as a food associated with health and wellness is expected to create a positive impact on its consumption in the coming years.
Growth in Exports: India is also emerging as a leading exporter of fishes with export values exhibiting double digit growth rates. The country is currently one of the key suppliers of frozen shrimp and frozen fish in various international markets.