India Seafood Market Size was estimated at 12.41 (USD Billion) in 2023. The Industry is expected to grow from 12.55(USD Billion) in 2024 to 16.45 (USD Billion) by 2035. The CAGR (growth rate) is expected to be around 2.485% during the forecast period (2025 - 2035).
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
India Seafood Market Key Trends Highlighted
The is experiencing notable growth driven by increasing demand for seafood, particularly due to changing dietary preferences favoring protein-rich diets. The rising health consciousness among consumers has shifted focus toward nutritious food options, bolstering seafood consumption. Additionally, urbanization and the increase in disposable income have led to greater accessibility and willingness to pay for diverse seafood products. The trend towards aquaculture also plays a crucial role in meeting the soaring demand for seafood while ensuring sustainability. The government's initiatives to boost the aquaculture sector through the Pradhan Mantri Matsya Sampada Yojana further support this trend.The value-added seafood segment presents an abundance of opportunities for expansion, as products such as ready-to-cook and processed seafood can be tailored to the hectic lifestyles of urban consumers. The expansion of e-commerce platforms has revolutionized the marketing and sale of seafood, thereby facilitating its accessibility to a broader urban population. Furthermore, the global demand for sustainable practices and ethical sourcing presents an opportunity for Indian seafood exporters to improve their market presence in international markets by adhering to these standards. In recent years, there has been a drive for innovative packaging solutions that address health and safety concerns among consumers by extending the shelf life and maintaining quality. Consumers have increased their demand for transparency in the sourcing and production processes, which has resulted in a greater emphasis on food safety and traceability. In order to capitalize on the potential development of the Indian seafood market, the industry must prioritize quality, sustainability, and innovation as it navigates these evolving trends.
India Seafood Market Drivers
Increase in Domestic Seafood Consumption
The Industry is experiencing significant growth driven by the increasing per capita consumption of seafood among the Indian population. According to the Food and Agriculture Organization (FAO), India has seen an increase in seafood consumption, rising from 9.6 kilograms per person in 2018 to approximately 11.5 kilograms in 2020. This increase is attributed to changing dietary habits, where consumers are increasingly opting for seafood due to its perceived health benefits, including high protein and omega-3 fatty acid content.Organizations such as the Marine Products Export Development Authority (MPEDA) are actively working to promote seafood consumption through various initiatives and campaigns, highlighting the nutritional benefits of seafood, which further supports market growth in the Industry. The rising trend of health consciousness is projected to result in an increase in seafood consumption by an additional 10% over the next five years, supported by government policies aimed at promoting aquaculture and sustainable fishing practices.
Government Initiatives to Boost Aquaculture
The Indian government has implemented several initiatives to enhance aquaculture production, which is a critical driver for the Industry. With the 'Pradhan Mantri Matsya Sampada Yojana,' launched in 2020, the government aims to double fish production by 2024. The plan includes funding of INR 20,000 crores (approximately USD 2.8 Billion) over the next few years to support infrastructure development for fisheries, which includes modernizing fishing practices and creating more aquaculture farms.This initiative is expected to significantly increase fish availability and promote sustainable fishing practices, thus driving market growth in the Industry. Moreover, the National Fisheries Policy aims to enhance farmers' income, bolster export potential, and create job opportunities, all contributing to a favorable environment for seafood enterprises.
Growing Export Demand for Indian Seafood
With the increasing global demand for seafood, especially from developed markets such as the United States and the European Union, the Industry is poised for significant export growth. According to the MPEDA, seafood exports from India reached approximately USD 6.57 billion in 2021, reflecting a 10% growth compared to the previous year. This surge in export demand is driven by the high quality of Indian seafood products, which are often preferred for their taste and sustainability practices.The Indian government is also focusing on strengthening trade relationships and exploring new markets, which further supports export growth in the seafood sector. Additionally, the adoption of international quality standards by Indian seafood producers enhances their competitiveness, paving the way for more export opportunities in various international markets and bolstering the overall growth of the Industry.
India Seafood Market Segment Insights
Seafood Market Seafood Type Insights
The is diverse and rich in its Seafood Type segmentation, reflecting a significant variety of aquatic life harvested in the region. The various classifications include Cephalopods, Shellfish, Mollusks, Level Fish, Groundfish, Salmonids, Fish, and Pelagic species, with each segment contributing uniquely to the overall market dynamics. Cephalopods such as squid and octopus have garnered attention due to their nutritional value and versatility in cuisine, creating a robust demand among consumers. Shellfish, comprising crustaceans such as shrimp and crabs, is particularly popular in coastal states, significantly impacting local economies and providing livelihood opportunities for many fishermen.Mollusks, which include species like clams and oysters, play a crucial role in the seafood industry, with rising awareness about their health benefits contributing to growth in their consumption patterns. Level Fish and Groundfish categories, which comprise species typically caught in deeper waters, continue to be staples in traditional diets and are increasingly being recognized for their potential export value. Salmonids, while less common compared to other species, represent a growing niche within the market due to increasing interest in aquaculture practices that align with sustainable seafood goals.Fish, a dominant category in the Seafood Type segment, satisfies domestic needs through a wide range of species, including both freshwater and saltwater varieties. The Pelagic category, consisting of species like mackerel and sardines, remains integral to the Indian marine ecosystem and serves as an excellent source of essential fatty acids, contributing to its rise in popularity among health-conscious consumers. As the demand for sustainable and responsibly sourced seafood continues to grow, many segments within the are adapting their practices. Factors such as urbanization, changing dietary preferences, and government initiatives to promote aquaculture and marine resource conservation are driving market growth. With continued urbanization and dietary shifts, segments like Cephalopods and Shellfish are expected to experience increasing demand, enhancing their significance in the overall market landscape.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Seafood Market Seafood Retail Insights
The India Seafood Market Retail segment within the has seen notable evolution, catering to the growing demand for seafood among consumers. This segment largely includes various forms of seafood, which are essential sources of protein and pivotal in the diets of many Indians. The Frozen category has gained traction, being favored for its convenience and extended shelf life, thus dominating much of the retail landscape as it allows for easy distribution and storage. The Chilled seafood segment is also significant, as it caters to consumers looking for fresher options that typically promise high quality and are often perceived as healthier.This segment benefits from rising consumer awareness regarding the nutritional value of seafood. Furthermore, the Surrounding category plays an important role by incorporating varied seafood products that appeal to local tastes and preferences. These dynamics illustrate the diversity and robustness of the Seafood Retail segment in India, where shifting dietary habits, increased urbanization, and the growth of retail channels continue to drive market trends and opportunities. The potential for export growth is another facet that could enhance the contribution of this segment to the overall revenue in the coming years.
Seafood Market Seafood Distribution Channel Insights
The India Seafood Market Distribution Channel segment of the plays a crucial role in connecting producers with consumers, significantly influencing overall market dynamics. Various channels, including Retail, Foodservice, and Institutional, cater to distinct consumer needs, driving the distribution efficiency of seafood products across the country. Retail is critical in providing fresh seafood directly to consumers, supporting the increasing demand for convenience and quality among shoppers. Foodservice, encompassing restaurants and catering services, represents a substantial market share, highlighting the rising trend of seafood consumption among millennials and health-conscious individuals.Institutional distribution addresses the needs of hospitals, schools, and other entities, ensuring a steady supply of nutritious seafood to various segments of society. Overall, the Seafood Distribution Channel is a vibrant component of the , contributing to its competitive landscape while adapting to changing consumer preferences and market trends. As the market evolves, challenges such as supply chain logistics and compliance with food safety regulations will continue to shape the operational strategies within these distribution channels.
Key Players and Competitive Insights
The India Seafood Market is characterized by a diverse range of players operating within a landscape marked by increasing consumer demand for seafood products. The competitive dynamics are influenced by various factors, including regional preferences, sustainability practices, and the overall growth of the aquaculture sector. Companies in the market leverage their unique strengths, such as sourcing capabilities, production technologies, and distribution networks, to gain market share. Furthermore, marketing strategies that focus on health benefits and the cultural significance of seafood in Indian cuisine continue to shape consumer perceptions and buying behaviors. The market's competitive landscape witnesses a blend of traditional practices alongside modern processing methods, which significantly boost product variety while ensuring quality and freshness.Sanket Seafood has established a strong presence in the through a focus on quality and reliability in its product offerings. Known for its wide array of seafood products, the company emphasizes sustainable sourcing practices that align with growing consumer demands for eco-friendly options. Sanket Seafood has strategically positioned itself to tap into regional markets, enabling it to build a loyal customer base. The company's strengths also lie in its extensive distribution network, which enhances accessibility for consumers across various states in India. This network, combined with effective marketing initiatives, has allowed Sanket Seafood to solidify its reputation as a trusted brand within the competitive landscape of the Indian seafood industry.Himalaya Seafood also plays a significant role in the , recognized for its premium quality seafood products that cater to both retail and food service sectors. Their key offerings include processed seafood, such as shrimp and fish fillets, which are popular among health-conscious consumers. Himalaya Seafood has successfully expanded its market presence by embracing modern processing techniques and adhering to stringent quality control measures. In addition to its product innovation, the company has engaged in strategic mergers and collaborations to enhance its operational capabilities and market reach. These moves have not only bolstered its production capacities but have also solidified its competitive stance against other players in the industry. The commitment to customer satisfaction, consistent product quality, and a strong distribution network further contribute to Himalaya Seafood's strengths in the rapidly evolving Indian seafood market.
India Seafood Market Key Companies in the Include
India Seafood Market Industry Developments
The has been witnessing significant developments in recent months, with companies like Sanket Seafood and Devi Sea Foods enhancing their production capabilities to meet growing domestic and export demands. In September 2023, India's seafood exports reached a record turnover, highlighting the sector's rapid growth amidst rising global demand. Major players, including Avanti Feeds and Nekkanti Sea Foods, are expanding their operational footprints and investing in sustainable practices, thereby boosting market valuation. Notably, in November 2023, Thai Union Group acquired a minority stake in R.K. Seafoods, reflecting strategic consolidation in the industry. Moreover, M/s. Abad Fisheries and Jaya Marine Foods have been collaborating on joint ventures aimed at improving supply chain efficiencies. Additionally, the Fishery Sector Development Fund has supported initiatives by Vikas Ecotech to promote sustainable fishing practices. This period has also seen a focus on food safety regulations and quality assurance to enhance the global market competitiveness of Indian seafood. The demand for processed and value-added fish products continues to rise, influencing operational strategies for companies like Seafoods Export Corporation and Karamchand Thapar and Bros, aiming for increased penetration in international markets.
Segmentation Insights
Seafood Market Seafood Type Outlook
Seafood Market Seafood Retail Outlook
Seafood Market Seafood Distribution Channel Outlook
Retail
Foodservice
Institutional
| Report Attribute/Metric Source | Details |
| MARKET SIZE 2018 | 12.41(USD Billion) |
| MARKET SIZE 2024 | 12.55(USD Billion) |
| MARKET SIZE 2035 | 16.45(USD Billion) |
| COMPOUND ANNUAL GROWTH RATE (CAGR) | 2.485% (2025 - 2035) |
| REPORT COVERAGE | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| BASE YEAR | 2024 |
| MARKET FORECAST PERIOD | 2025 - 2035 |
| HISTORICAL DATA | 2019 - 2024 |
| MARKET FORECAST UNITS | USD Billion |
| KEY COMPANIES PROFILED | Sanket Seafood, Himalaya Seafood, Seafoods Export Corporation, Jaya Marine Foods, R.K. Seafoods, M/s. Abad Fisheries, Vikas Ecotech, Nekkanti Sea Foods, Thai Union Group, Karamchand Thapar and Bros, Suman Sea Foods, Devi Sea Foods, Avanti Feeds, Waterbase |
| SEGMENTS COVERED | Seafood Type, Seafood Retail, Seafood Distribution Channel |
| KEY MARKET OPPORTUNITIES | Sustainable aquaculture development, Online seafood sales growth, Export markets expansion, Value-added seafood products, Cold chain logistics enhancement |
| KEY MARKET DYNAMICS | rising health consciousness , increasing aquaculture production , export demand growth , government support initiatives , evolving consumer preferences |
| COUNTRIES COVERED | India |
Frequently Asked Questions (FAQ) :
The India Seafood Market is expected to be valued at 12.55 USD Billion in 2024.
By 2035, the overall market is projected to reach a valuation of 16.45 USD Billion.
The expected compound annual growth rate for the India Seafood Market is 2.485 percent from 2025 to 2035.
In 2024, Shellfish is expected to have the highest market value at 3.2 USD Billion.
The market value for Cephalopods is estimated at 2.5 USD Billion in 2024.
Key players include Sanket Seafood, Himalaya Seafood, and Thai Union Group among others.
The market value for Groundfish is expected to reach 3.25 USD Billion by 2035.
In 2035, the market for Mollusks is projected to be valued at 3.6 USD Billion.
Challenges could include fluctuations in demand and regulatory hurdles impacting market dynamics.
Emerging trends around sustainability and health consciousness are likely to drive growth in the market.
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