Overview Of India Aquaculture Feed Industry and Market Size
India aquaculture feed market expanded with a CAGR of XX% in between FY’17 and FY’22 on the basis of revenue generated. One of the major determinants of the growth of aqua feed market in India is attributed to surging demand of shrimp globally. In FY’20 export of frozen shrimps contributed to the majority share compared to the export of other fisheries product. This resulted in aqua feed manufacturers producing large quantities of shrimp feeds to cater to the growing demand. Due to the massive contribution of shrimps to the overall aqua culture market, aqua feed manufacturing companies have initiated the process of focusing on producing larger amount of shrimp feeds to cater to the domestic as well as international demand. In FY’22, shrimp feed contributed to the majority share of the overall revenue generated by the aqua feed industry in India. As of FY’22, there were approximately 30 high-tech feed mills operating to cater to the rising export and domestic demand. Coupled with that, the increasing awareness on health for consuming residue free food along with the increase in per capita income resulted in the growth of seafood sales which is good for health, subsequently stimulating the demand for availing quality aqua feeds.
Government initiative to offer subsidies and incentives for construction of new ponds, purchase of feeds and setting up of processing units fuelled the growth of aqua feed market in India in between FY’17 and FY’22. The advent of COVID-19 negatively impacted the aquaculture and aqua feed industry due to the disruption in supply chain, falling demand of shrimp overseas and halt in international trading activities. To mitigate the effect of COVID-19, government of India announced a relief package in FY’20 under the “Atmanirbhar Scheme” to support the fisheries, aqua culture and aqua feed industry. Simultaneously, the government also announced reduction of custom duty on aqua feed products such as black tiger shrimp, algal oil etc. in the union budget of FY’22 to support the exporters. Average price of feed per metric ton expanded at a CAGR of XX% in between FY’17 and FY’22. The gradual increase of the prices contributed in enhancing the business prospect of exporters and aqua feed manufacturers.
India Aquaculture Feed Market Segmentation, Fy’22
By Type of Feed (Shrimp Feed, Fish Feed and Others):
Revenue generated from the sales of shrimp feed contributed to the majority share of XX% in FY’22, due to the surging demand of shrimp across the world. Shrimps formed the major chunk of aquaculture market in India, and the rising demand of shrimps globally contributed in exporters producing more quantities of shrimps by availing quality feeds. Fish feeds, molluscs and crustaceans’ feeds were the other forms of aquaculture feeds in the Indian market, which captured a small chunk of the aqua market in FY’22.
Request for Sample Report: - https://www.kenresearch.com/sample-report.php?Frmdetails=NTgxNjUw
By Region (Andhra Pradesh, West Bengal, Odisha, Tamil Nadu & Puducherry, Maharashtra, Gujarat and Others): -
Andhra Pradesh was the largest feed consuming state in FY’22, contributing to the majority share of XX% on the basis of revenue generated through sales of aqua feed products. Andhra Pradesh is the most favorable state for aquaculture and aqua feed industry, due to the various subsidies/incentives offered by the government for setting up farms, purchasing feeds, and setting up processing units and tax exemptions. The subsidy is available for various items like renovation or repair of ponds, construction of new ponds, first-year inputs, etc. under a centrally sponsored subsidy scheme implemented by the majority of the State Governments through FFDA's for different categories of farmers and from National Fisheries Development Board (NFDB).
By End User (Commercial and Household):
Aqua feed dealers & exporters, aqua feed companies and local aqua farmers form the buyer side of aqua feed industry. Sales of aqua feed products mainly take place between the manufacturing firms and the commercial end user, while households (local aqua farmers) contribute to a significantly smaller percentage of overall sales. In FY’22, revenue generated through sales of aqua feed products to commercial end users contributed to the majority share of XX%.
By Distribution (Store Based and Online):
Distribution of aqua feed products through stores contributed to the majority revenue share of XX%, while online based distribution channel contributed to a share of only 2% in FY’22. Online distribution channel remained largely inefficient in India as of FY’22. Incumbent firms in the aqua feed market have not been able to channelize their supply chain optimally to incorporate sales through online medium, thereby are dependent on the conventional store-based distribution channel.
Key Segments Covered in India Aquaculture Feed Market
By Revenue
By Average Price of Aquaculture Feed
By Type of Feed
Shrimp Feed
Fish Feed
Others
By Type of Ingredients
Soy
Corn
Fish Oil
Fish Meal
Others
By End User
Commercial
Household
By Distribution Channel
Store Based
Online
By Region
Andhra Pradesh
West Bengal
Gujarat
Tamil Nadu & Puducherry
Odisha
Maharashtra
Other States and Union Territories
Key Target Audience
Aquaculture Feed Manufacturing Companies
Companies in the Aquaculture Industry
Seafood Companies
Industry Associations
Government Bodies
Time Period Captured in the Report:
Historical Period: FY’17-FY’22
Forecast Period: FY’22-FY’27E
India Aquaculture Feed Manufacturing Players
Manufacturers
Avanti Feeds
Coastal Corporation
Waterbase
Zeal Aqua
Apex
Adinath Bio Labs Limited
Devi Aqua Feeds
Alltech
BMR
Cargill
Biomin
Novus
Growel
IB Group
C.P. Group
Sandhya Aqua
Devi Aqua Feeds
Smilax
Government Institutions and Regulators
CAA (Coastal Aquaculture Authority)
CIFNET (Central Institute of Fisheries Nautical & Engineering Training)
CICEF (Central Institute of Coastal Engineering for Fishery)
FSI (Fishery Survey of India)
MPEDA (Marine Products Export Development Authority)
NFDB (National Fisheries Development Board)
NIFPHATT (National Institute of Fisheries Post Harvest Technology and Training)
Government Departments
MOFHAD (Ministry of Fisheries, Animal Husbandry and Dairying)
DOF (Department of Fisheries of Respective States & Union Territories)
Key Topics Covered in the Report
Overview of Aquaculture Feed Market in India
Technological Adaptation in Aquaculture Feed Market in India
Per Capita Income (INR) in India
Ecosystem of Major Entities in Aquaculture Feed Market in India
Operating Model of Aquaculture Industry in India
Value Chain Analysis of Aquaculture Feed Market in India
Products and Services of Aquaculture Feed Companies in India
Types of Different Aquaculture Feed
Market Size of India Aquaculture Feed Market (Basis Revenue in INR Crore)
Average Price of Aquaculture Feed (INR)
India Aquaculture Feed Market Segmentation (By Type of Feed, By Type of Ingredients, By End User, By Distribution Channel and By Region)
Trends and Developments in India Aquaculture Feed Market
Issues and Challenges in India Aquaculture Feed Market
Government Initiatives in India Aquaculture Feed Market
Porter 5 Forces Analysis of India Aquaculture Feed Market
SWOT Analysis of India Aquaculture Feed Market
Impact of COVID-19 on India Aquaculture Feed Market
Cross Comparison of Major Aquaculture Feed Manufacturing Companies (on the basis of Inception, Headquarters, Market Revenue, Production and Market Share)
Strengths and Challenges of Major Aquaculture Feed Manufacturing Companies
Company Profiles of Major Aquaculture Feed Manufacturing Players (Company Overview, Total Sales, No of Employees, Unique Selling Propositions, Product Portfolio, Business Model, Key Features, Recent Developments and Future Opportunities)
Future Market Size of India Aquaculture Feed Market (Basis Revenue in INR Crore)
Future Projections of Average Price of Aquaculture Feed (INR)
India Aquaculture Feed Future Market Segmentation (By Type of Feed, By Type of Ingredients, By End User, By Distribution Channel and By Region)
Analyst Recommendations
For More Info on the Research Report, Click on the below link: -
India Aquaculture Feed Market Future Outlook
Related Reports by Ken Research: -
Contact Us: -
Ankur Gupta, Head Marketing & Communications
Support@kenresearch.com
+91-9015378249
Follow Us
No comments:
Post a Comment