| Product Code: ETC384744 | Publication Date: Aug 2022 | Updated Date: Feb 2025 | Product Type: Market Research Report | |
| Publisher: 6Wresearch | Author: Ravi Bhandari | No. of Pages: 75 | No. of Figures: 35 | No. of Tables: 20 |
The India seafood market is estimated to be worth US$7.2 billion and is expected to grow at a Compound Annual Growth Rate (CAGR) of 6.4%. India primarily produces marine finfish, which accounts for about two-thirds of the total seafood production; shellfish species contribute around 12% to the overall production. In terms of volume, shellfish accounted for over 570 thousand metric tons (MTs).
The India Shellfish market has been witnessing substantial growth, driven by various factors. Shellfish, including shrimp, crab, and lobster, are popular seafood choices in India, and the increasing seafood consumption has fueled the demand for shellfish. The country`s vast coastline and rich marine resources provide a favorable environment for shellfish farming and capture fisheries, facilitating a steady supply to meet the growing demand. Additionally, the rising popularity of India seafood in international markets has further boosted the shellfish industry. Improved cold chain infrastructure, better processing techniques, and stringent quality control measures have also contributed to the market`s expansion.
The shellfish market in India faces numerous challenges due to environmental factors and regulatory issues. One of the main challenges is overfishing, leading to declining shellfish populations. Unsustainable fishing practices and the lack of effective management measures can lead to the depletion of shellfish resources and ecological imbalances.Issues related to water pollution and coastal habitat degradation also pose challenges to the shellfish industry. Contaminants in coastal waters can accumulate in shellfish, making them unsafe for consumption and damaging the reputation of the industry.Additionally, the shellfish market might encounter resistance from certain cultural and dietary preferences, as some regions in India do not traditionally consume shellfish. This limited demand can restrict market growth and market penetration.
The India shellfish market faced substantial challenges during the COVID-19 pandemic. The closure of restaurants and seafood export restrictions caused a severe decline in demand and disrupted the supply chain. As a result, fishermen and seafood businesses faced economic hardships. However, with the resumption of economic activities and the implementation of safety measures, the market gradually started to recover.
The India shellfish market consists of companies engaged in fishing, aquaculture, and seafood processing. Key players in this market include Devi Fisheries, Pescafresh, IFB Agro Industries, and WestCoast Group.
Export potential enables firms to identify high-growth global markets with greater confidence by combining advanced trade intelligence with a structured quantitative methodology. The framework analyzes emerging demand trends and country-level import patterns while integrating macroeconomic and trade datasets such as GDP and population forecasts, bilateral import–export flows, tariff structures, elasticity differentials between developed and developing economies, geographic distance, and import demand projections. Using weighted trade values from 2020–2024 as the base period to project country-to-country export potential for 2030, these inputs are operationalized through calculated drivers such as gravity model parameters, tariff impact factors, and projected GDP per-capita growth. Through an analysis of hidden potentials, demand hotspots, and market conditions that are most favorable to success, this method enables firms to focus on target countries, maximize returns, and global expansion with data, backed by accuracy.
By factoring in the projected importer demand gap that is currently unmet and could be potential opportunity, it identifies the potential for the Exporter (Country) among 190 countries, against the general trade analysis, which identifies the biggest importer or exporter.
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