Increasing demand for marine products to drive India aquaculture & marine products market
According to TechSci Research report, “India Aquaculture & Marine Products Market By Rearing Product Type (Equipment, Chemicals, Pharmaceuticals, Fertilizers, Others), By Type (Fisheries, Seaweeds, Microalgae, Crustaceans, Molluscs, Others), By Production Type (Small-Scale, Medium & Large Scale), By Culture (Freshwater, Brackish Water, Marine), By Region, Forecast & Opportunities, 2025”, the India aquaculture & marine products market is expected to grow at a steady rate during the forecast period on account of increasing need to maintain food safety & security. Additionally, drastic decrease in natural feedstock is further expected to increase the demand for aquaculture & marine products. Furthermore, ongoing advancements with respect to offshore and open aquaculture techniques is expected to create lucrative opportunities for the market growth through 2025. Besides, growing smart fishing activities are further expected to foster the market growth in the country. Also, aquaculture has emerged out as a source of employment in India and helps in improving the socio-economic status of those involved in it, thereby positively influencing the market growth. However, increasing water pollution might pose a challenge to the health of aquatic life, thereby hampering the market growth. Also, uncertain climatic conditions and fluctuating temperatures impact the reproduction cycle of the aquatic life, which might further impede the market growth.
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The India aquaculture & marine products market is segmented based on rearing product type, type, production type, culture, company, and region. Based on rearing product type, the market can be fragmented into equipment, chemicals, pharmaceuticals, fertilizers and others. Here, the chemicals segment is expected to register the highest growth in the market owing to their extensive use in pond preparation, improving the health of aquatic environment, disease control, among others. Based on production type, the market can be segmented into small-scale and medium & large scale. Among these, the small-scale production type segment is expected to dominate the market owing to the growing demand for marine products in the country for both consumption and export. Based on culture, the market can be grouped into freshwater, brackish water and marine. Out of these, the freshwater segment is expected to dominate the market owing to the increase in the number of artificial ponds meant for aquaculture. However, the marine culture segment is expected to hold a significant market share owing to the increasing demand for seafood products and declining capture in fishery landings from the oceans. Additionally, ongoing technological advancements such as water recirculation system are expected to further drive the segmental growth.
Avanti Feeds Ltd., Cargill Inc, The Waterbase Limited, Aller Aqua, Altech, Archer Daniels Midland Co., BASF SE, Nutreco NV, Growel Feeds Private Limited, The Waterbase Limited and others are some of the leading players operating in India aquaculture & marine products market. The companies operating in the market are using organic strategies such as product launches, mergers and collaborations to boost their share.
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“India aquaculture & marine products market is expected to witness significant growth during the forecast period on account of the fact that India is an export oriented country and hence, aquaculture and fish farming are sectors of key importance to the country. Furthermore, increasing demand for frozen foods and ready to eat food items with longer shelf life has increased the demand for marine products, thereby propelling the market growth. Additionally, increasing expenditure on R&D and new product developments by major players operating in the market is expected to create lucrative opportunities for market growth through 2025.” said Mr. Karan Chechi, Research Director with TechSci Research, a research based India management consulting firm.
“India Aquaculture & Marine Products Market By Rearing Product Type (Equipment, Chemicals, Pharmaceuticals, Fertilizers, Others), By Type (Fisheries, Seaweeds, Microalgae, Crustaceans, Molluscs, Others), By Production Type (Small-Scale, Medium & Large Scale), By Culture (Freshwater, Brackish Water, Marine), By Region, Forecast & Opportunities, 2025”, has evaluated the future growth potential of India aquaculture & marine products market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities in India aquaculture & marine products market.