India: Market for Flours, Meals And Pellets Of Fish Or Of Crustaceans And Molluscs 2024

Market Size for Flours, Meals And Pellets Of Fish Or Of Crustaceans And Molluscs in India

In 2021, after five years of growth, there was decline in the Indian seafood meals and pellets market, when its value decreased by -4.4% to $X. The market value increased at an average annual rate of +4.8% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Seafood meals and pellets consumption peaked at $X in 2020, and then shrank modestly in the following year.

Production of Flours, Meals And Pellets Of Fish Or Of Crustaceans And Molluscs in India

In value terms, seafood meals and pellets production expanded modestly to $X in 2021 estimated in export price. Overall, the total production indicated a prominent expansion from 2012 to 2021: its value increased at an average annual rate of +6.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -2.5% against 2019 indices. The pace of growth was the most pronounced in 2017 with an increase of 29%. Over the period under review, production hit record highs at $X in 2019; however, from 2020 to 2021, production failed to regain momentum.

Exports of Flours, Meals And Pellets Of Fish Or Of Crustaceans And Molluscs

Exports from India

In 2021, shipments abroad of flours, meals and pellets of fish or of crustaceans and molluscs was finally on the rise to reach X tons for the first time since 2018, thus ending a two-year declining trend. Overall, exports showed a significant increase. The most prominent rate of growth was recorded in 2017 when exports increased by 181% against the previous year. Over the period under review, the exports hit record highs at X tons in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

In value terms, seafood meals and pellets exports surged to $X in 2021. In general, exports continue to indicate a significant increase. The pace of growth was the most pronounced in 2013 with an increase of 257% against the previous year. The exports peaked at $X in 2018; however, from 2019 to 2021, the exports failed to regain momentum.

Exports by Country

Vietnam (X tons) was the main destination for seafood meals and pellets exports from India, with a 36% share of total exports. Moreover, seafood meals and pellets exports to Vietnam exceeded the volume sent to the second major destination, Bangladesh (X tons), twofold. China (X tons) ranked third in terms of total exports with a 15% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Vietnam totaled +69.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Bangladesh (+16.5% per year) and China (+67.6% per year).

In value terms, Vietnam ($X) remains the key foreign market for flours, meals and pellets of fish or of crustaceans and molluscs exports from India, comprising 38% of total exports. The second position in the ranking was held by China ($X), with a 17% share of total exports. It was followed by Bangladesh, with a 12% share.

From 2012 to 2021, the average annual growth rate of value to Vietnam stood at +67.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (+65.3% per year) and Bangladesh (+26.5% per year).

Export Prices by Country

In 2021, the average seafood meals and pellets export price amounted to $X per ton, with an increase of 6.8% against the previous year. Over the last nine-year period, it increased at an average annual rate of +3.7%. The pace of growth was the most pronounced in 2013 when the average export price increased by 34% against the previous year. Over the period under review, the average export prices attained the peak figure at $X per ton in 2014; however, from 2015 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably country of destination: the country with the highest price was Saudi Arabia ($X per ton), while the average price for exports to Indonesia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Bangladesh (+8.6%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Flours, Meals And Pellets Of Fish Or Of Crustaceans And Molluscs

Imports into India

In 2021, approx. X tons of flours, meals and pellets of fish or of crustaceans and molluscs were imported into India; waning by -45.4% compared with the previous year. In general, imports, however, posted significant growth. The pace of growth appeared the most rapid in 2015 with an increase of 691% against the previous year. Over the period under review, imports hit record highs at X tons in 2020, and then plummeted in the following year.

In value terms, seafood meals and pellets imports dropped remarkably to $X in 2021. Overall, imports, however, enjoyed a buoyant expansion. The growth pace was the most rapid in 2015 with an increase of 350% against the previous year. Over the period under review, imports hit record highs at $X in 2020, and then declined significantly in the following year.

Imports by Country

Norway (X tons), Oman (X tons) and Papua New Guinea (X tons) were the main suppliers of seafood meals and pellets imports to India, with a combined 45% share of total imports. The United Arab Emirates, the Philippines, the United States, Uruguay, Mauritius, Gambia and Peru lagged somewhat behind, together comprising a further 42%.

From 2012 to 2021, the biggest increases were recorded for Uruguay (with a CAGR of +779.4%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Norway ($X) constituted the largest supplier of flours, meals and pellets of fish or of crustaceans and molluscs to India, comprising 28% of total imports. The second position in the ranking was taken by Oman ($X), with a 13% share of total imports. It was followed by Uruguay, with a 9.7% share.

From 2012 to 2021, the average annual growth rate of value from Norway amounted to +31.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Oman (+42.4% per year) and Uruguay (+610.3% per year).

Import Prices by Country

In 2021, the average seafood meals and pellets import price amounted to $X per ton, increasing by 7.1% against the previous year. Overall, the import price, however, continues to indicate a noticeable curtailment. The pace of growth was the most pronounced in 2016 an increase of 24% against the previous year. The import price peaked at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Uruguay ($X per ton), while the price for the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Mauritania (+24.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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