India: Market for Frozen Fish And Seafood 2024

Market Size for Frozen Fish And Seafood in India

In 2022, the Indian frozen fish and seafood market decreased by X% to $X, falling for the second consecutive year after two years of growth. The market value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded in certain years. Frozen fish and seafood consumption peaked at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Production of Frozen Fish And Seafood in India

In value terms, frozen fish and seafood production contracted modestly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2013 when the production volume increased by X% against the previous year. Frozen fish and seafood production peaked at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Exports of Frozen Fish And Seafood

Exports from India

In 2022, overseas shipments of frozen fish and seafood increased by X% to X tons, rising for the second year in a row after two years of decline. In general, total exports indicated a temperate increase from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2017 with an increase of X% against the previous year. The exports peaked in 2022 and are likely to see steady growth in years to come.

In value terms, frozen fish and seafood exports totaled $X in 2022. Overall, total exports indicated resilient growth from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2013 with an increase of X% against the previous year. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in the near future.

Exports by Country

China (X tons), the United States (X tons) and Thailand (X tons) were the main destinations of frozen fish and seafood exports from India, together comprising X% of total exports. Japan, Vietnam, Spain, Malaysia, Italy, Belgium, the United Arab Emirates and the Netherlands lagged somewhat behind, together accounting for a further X%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the United Arab Emirates (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), China ($X) and Japan ($X) were the largest markets for frozen fish and seafood exported from India worldwide, together accounting for X% of total exports.

Among the main countries of destination, China, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average frozen fish and seafood export price stood at $X per ton in 2022, falling by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The growth pace was the most rapid in 2013 an increase of X% against the previous year. The export price peaked at $X per ton in 2014; however, from 2015 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Thailand ($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 Vietnam (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Frozen Fish And Seafood

Imports into India

In 2022, supplies from abroad of frozen fish and seafood decreased by X% to X tons, falling for the second consecutive year after three years of growth. Overall, imports, however, saw a buoyant increase. The pace of growth appeared the most rapid in 2016 with an increase of X% against the previous year. Over the period under review, imports reached the maximum at X tons in 2020; however, from 2021 to 2022, imports remained at a lower figure.

In value terms, frozen fish and seafood imports expanded markedly to $X in 2022. In general, imports, however, saw strong growth. The pace of growth was the most pronounced in 2014 when imports increased by X% against the previous year. Imports peaked in 2022 and are expected to retain growth in years to come.

Imports by Country

Vietnam (X tons), Oman (X tons) and China (X tons) were the main suppliers of frozen fish and seafood imports to India, with a combined X% share of total imports. Myanmar, the United States, the UK and Indonesia lagged somewhat behind, together accounting for a further X%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Myanmar (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest frozen fish and seafood suppliers to India were Vietnam ($X), the United States ($X) and Myanmar ($X), together comprising X% of total imports.

Among the main suppliers, Myanmar, with a CAGR of X%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average frozen fish and seafood import price amounted to $X per ton, surging by X% against the previous year. Overall, the import price, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 an increase of X%. The import price peaked at $X per ton in 2012; however, from 2013 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 the United States ($X per ton), while the price for Oman ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (X%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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