Indian Shrimp Feed Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2018-2023
Shrimp feed is produced in order to meet the nutritional requirements of farmed shrimps. It helps in maintaining the required levels of essential amino acids, vitamins, minerals, fatty acids and other important nutrients. Some of the common ingredients used in shrimp feed include fish and squid meal, lecithin, fish oil, cereal flour and other essential and propriety additives. The use of good quality feed helps in improving the shrimp production, profits, and minimising the environmental pollution generated from shrimp farming. According to the latest report by IMARC Group, titled “Indian Shrimp Feed Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2018-2023”, the Indian shrimp feed market reached a production volume of 872,700 Tons in 2017.
One of the primary factors catalysing the growth of the Indian shrimp feed market is the massive marine wealth in India that sustains the development of the aquaculture industry. In addition, the market is also influenced by the commercialisation of vannamei shrimp, supported by a sustained demand from both the developed and developing countries. The production and export of vannamei has overtaken native species of shrimps like black tiger which were farmed dominantly till 2003. This acts as another factor facilitating the demand for shrimp feed. Moreover, the availability of improved product varieties and a shift towards the usage of commercially produced shrimp feed have further contributed towards the growth of this market. Looking forward, the market volume is projected to reach US$ 1,705,898 Tons by 2023, registering a CAGR of 11.1% during 2018-2023
Based on type, the market has been segmented as starter grade, grower grade and finisher grade. Currently, starter grade dominates the market, holding the largest share in the Indian shrimp feed market.
On the basis of ingredient, fishmeal represents the largest segment, followed by fish oil, wheat flour, soybean meal and others.
Based on additives, the market is segregated as vitamin and protein, fatty acid, antibiotics, antioxidants and feed enzyme. Amongst these, vitamin and protein exhibit a clear dominance in the market.
Region-wise, the market has been segmented into Andhra Pradesh, West Bengal, Tamil Nadu and Pondicherry, Gujarat, Orissa, and Maharashtra. Amongst these, Andhra Pradesh is the leading market, accounting for the majority of the total share.
This report provides a deep insight into the Indian shrimp feed market covering all its essential aspects. This ranges from macro overview of the market to micro details of the industry performance, recent trends, key market drivers and challenges, SWOT analysis, Porter’s five forces analysis, value chain analysis, etc. This report is a must-read for entrepreneurs, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the shrimp feed market in any manner.
Key Questions Answered in This Report:
How has the Indian shrimp feed market performed so far and how will it perform in the coming years?
What are the key regions in the Indian shrimp feed market?
Which are the popular types of shrimp feed in the Indian market?
What are the key ingredients in the Indian shrimp feed market?
What are the major additives in the Indian shrimp feed market?
What are the price trends of shrimp feed?
What are the various stages in the value chain of the Indian shrimp feed market?
What are the key driving factors and challenges in the Indian shrimp feed market?
What are the import and export trends in the Indian shrimp feed market?
What is the degree of competition in the Indian shrimp feed market?
How is shrimp feed manufactured?