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.
The shrimp represents an invertebrate marine animal with an elongated body belonging to the largest class of crustaceans, also known as Malacostraca. It is usually found in streams, freshwater lakes, and deep and shallow water. Shrimp is a rich source of proteins, selenium, antioxidants, phosphorus, iron, copper, magnesium, vitamin B12, etc. Consequently, it helps in facilitating weight loss, fighting aging, improving bone health, preventing cardiovascular diseases, decreasing menstrual pain, etc. Shrimp also contains low saturated fat content. As such, it is commonly consumed seafood across India.
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Indian Shrimp Market Trends:
The escalating demand for fisheries as an economic activity that offers vast growth opportunities, on account of the long coastline and favorable geographical conditions, is primarily driving the Indian shrimp market. Additionally, the inflating popularity of regional and international cuisines and the growing consumer health consciousness are further bolstering the market growth. Besides this, the launch of various favorable policies by government bodies to encourage organic shrimp farming practices, the easy availability and affordability of land and labor, and the relatively lower shrimp production costs are acting as significant growth-inducing factors. Moreover, individuals are incorporating shrimp in their daily diets, owing to its numerous associated benefits, which is propelling the market growth across the country. Apart from this, the rising utilization of ready-to-eat food items by the working population and the increasing disposable income levels are also stimulating the market growth. Furthermore, the introduction of frozen and processed product variants is anticipated to fuel the Indian shrimp market over the forecasted period.
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:
Key Market Segmentation:
The report has segmented the Indian shrimp market on the basis of species, shrimp size and region.
Breakup by Species:
Breakup by Shrimp Size:
Breakup by State:
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