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Description
India aquaculture market size was valued at US$ 1.32 billion in 2021, and is expected to grow at a CAGR of 10.4% during the forecast period 2021-2027 due to the growing need to maintain food safety & security. In addition, ongoing developments in offshore and open aquaculture techniques are expected to generate lucrative prospects for growth in the market. Moreover, rising smart fishing activities are also expected to promote the country’s market growth. In addition, aquaculture has emerged as a source of jobs in India and helps to improve the socio-economic status of those involved in it, thereby affecting market growth positively. Increased water pollution, however, may pose a threat to the health of marine life, hampering the growth of the market. The reproductive cycle of aquatic organisms is also influenced by unpredictable climatic conditions and fluctuating temperatures, which may further hinder the growth of the sector. In August 2020, Aquaconnect, a start-up in aquaculture technology, opened three more centers in Andhra Pradesh to provide different services, including facilitating bank loans to fish and shrimp farmers. This Market report provides a comprehensive outlook on India aquaculture. This report gives historical, current and future market size (US$ Mn) on the basis of fish type, production type, and environment. This study analyses the market dynamics in a detailed manner to identify current trends and drivers, growth opportunities and potential challenges to the key stakeholders in the operating market. In addition, PBI has analyzed the India aquaculture market to better equip customers with possible investment opportunities across region and consumer unmet needs.
