India: Market for Fish Fats And Oils 2025

Market Size for Fish Fats And Oils in India

In 2022, the Indian fish fat and oil market decreased by -16.5% to $X, falling for the second consecutive year after six years of growth. In general, the total consumption indicated a remarkable increase from 2012 to 2022: its value increased at an average annual rate of +5.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -22.1% against 2020 indices. Fish fat and oil consumption peaked at $X in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

Production of Fish Fats And Oils in India

In value terms, fish fat and oil production expanded modestly to $X in 2022 estimated in export price. Over the period under review, the total production indicated resilient growth from 2012 to 2022: its value increased at an average annual rate of +5.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -4.4% against 2020 indices. The most prominent rate of growth was recorded in 2020 when the production volume increased by 22% against the previous year. As a result, production reached the peak level of $X. From 2021 to 2022, production growth remained at a lower figure.

Exports of Fish Fats And Oils

Exports from India

In 2022, shipments abroad of fish fats and oils was finally on the rise to reach X tons after four years of decline. Over the period under review, exports recorded a strong expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, fish fat and oil exports skyrocketed to $X in 2022. Overall, exports posted a strong increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Chile (X tons) was the main destination for fish fat and oil exports from India, with a 57% share of total exports. Moreover, fish fat and oil exports to Chile exceeded the volume sent to the second major destination, Turkey (X tons), sixfold. Australia (X tons) ranked third in terms of total exports with an 8.2% share.

From 2012 to 2022, the average annual growth rate of volume to Chile amounted to +37.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Turkey (+1.6% per year) and Australia (+78.3% per year).

In value terms, Chile ($X) emerged as the key foreign market for fish fats and oils exports from India, comprising 37% of total exports. The second position in the ranking was taken by Turkey ($X), with a 15% share of total exports. It was followed by Australia, with a 12% share.

From 2012 to 2022, the average annual growth rate of value to Chile amounted to +35.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Turkey (+11.7% per year) and Australia (+49.7% per year).

Export Prices by Country

The average fish fat and oil export price stood at $X per ton in 2022, reducing by -46.6% against the previous year. Over the period under review, the export price, however, posted a notable expansion. The growth pace was the most rapid in 2020 when the average export price increased by 64% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2021, and then dropped sharply in the following year.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Belgium ($X per ton), while the average price for exports to Chile ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Saudi Arabia (+11.2%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Fish Fats And Oils

Imports into India

After two years of growth, overseas purchases of fish fats and oils decreased by -23.6% to X tons in 2022. Over the period under review, imports, however, enjoyed buoyant growth. The growth pace was the most rapid in 2021 with an increase of 147%. As a result, imports reached the peak of X tons, and then reduced sharply in the following year.

In value terms, fish fat and oil imports reduced to $X in 2022. In general, imports, however, saw buoyant growth. The pace of growth appeared the most rapid in 2019 when imports increased by 146% against the previous year. As a result, imports attained the peak of $X. From 2020 to 2022, the growth of imports remained at a lower figure.

Imports by Country

In 2022, Japan (X tons) constituted the largest fish fat and oil supplier to India, accounting for a 41% share of total imports. Moreover, fish fat and oil imports from Japan exceeded the figures recorded by the second-largest supplier, Oman (X tons), twofold. China (X tons) ranked third in terms of total imports with a 16% share.

From 2012 to 2022, the average annual growth rate of volume from Japan stood at +659.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Oman (-3.1% per year) and China (+29.3% per year).

In value terms, China ($X) constituted the largest supplier of fish fats and oils to India, comprising 52% of total imports. The second position in the ranking was held by Japan ($X), with a 13% share of total imports. It was followed by Iceland, with a 7.7% share.

From 2012 to 2022, the average annual growth rate of value from China amounted to +37.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+841.7% per year) and Iceland (+2.7% per year).

Import Prices by Country

The average fish fat and oil import price stood at $X per ton in 2022, increasing by 28% against the previous year. In general, the import price showed moderate growth. The growth pace was the most rapid in 2017 when the average import price increased by 375%. Over the period under review, average import prices attained the peak figure at $X per ton in 2019; however, from 2020 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was China ($X per ton), while the price for Oman ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Japan (+24.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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