India: Molluscs Market 2024

Molluscs Market Size in India

In 2021, the Indian molluscs market increased by 2.5% to $X, rising for the second consecutive year after two years of decline. The market value increased at an average annual rate of +1.7% over the period from 2012 to 2021; the trend pattern remained consistent, with somewhat noticeable fluctuations throughout the analyzed period. Molluscs consumption peaked at $X in 2017; however, from 2018 to 2021, consumption remained at a lower figure.

Molluscs Production in India

In value terms, molluscs production expanded significantly to $X in 2021 estimated in export price. Over the period under review, the total production indicated a temperate increase from 2012 to 2021: its value increased at an average annual rate of +2.9% 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 -12.7% against 2017 indices. The pace of growth was the most pronounced in 2016 with an increase of 25%. Over the period under review, production reached the maximum level at $X in 2017; however, from 2018 to 2021, production stood at a somewhat lower figure.

Molluscs Exports

Exports from India

In 2021, the amount of molluscs (scallops, mussels, cuttle fish, squid and octopus) exported from India amounted to X tons, with an increase of 14% compared with 2020 figures. In general, total exports indicated tangible growth from 2012 to 2021: its volume increased at an average annual rate of +3.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports decreased by -19.0% against 2019 indices. The pace of growth appeared the most rapid in 2017 when exports increased by 29% against the previous year. The exports peaked at X tons in 2019; however, from 2020 to 2021, the exports remained at a lower figure.

In value terms, molluscs exports surged to $X in 2021. Overall, exports recorded a strong expansion. The pace of growth appeared the most rapid in 2016 with an increase of 49% against the previous year. The exports peaked at $X in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

Exports by Country

Spain (X tons), Thailand (X tons) and Italy (X tons) were the main destinations of molluscs exports from India, together comprising 56% of total exports. These countries were followed by Vietnam, the United States, Portugal, Greece, Malaysia, France, China and the United Arab Emirates, which together accounted for a further 35%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Malaysia (with a CAGR of +21.6%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for molluscs exported from India were Spain ($X), Italy ($X) and Thailand ($X), together accounting for 57% of total exports. The United States, Vietnam, Portugal, Greece, Malaysia, France, China and the United Arab Emirates lagged somewhat behind, together comprising a further 34%.

Malaysia, with a CAGR of +30.1%, saw the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average molluscs export price stood at $X per ton in 2021, rising by 14% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +3.7%. The most prominent rate of growth was recorded in 2016 an increase of 24% against the previous year. The export price peaked in 2021 and is expected to retain growth in years to come.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to China ($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 the United States (+11.1%), while the prices for the other major destinations experienced more modest paces of growth.

Molluscs Imports

Imports into India

In 2021, supplies from abroad of molluscs (scallops, mussels, cuttle fish, squid and octopus) decreased by -5.8% to X tons, falling for the second consecutive year after three years of growth. Overall, imports, however, recorded a resilient expansion. The most prominent rate of growth was recorded in 2017 with an increase of 371%. Imports peaked at X tons in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

In value terms, molluscs imports rose significantly to $X in 2021. Over the period under review, imports, however, recorded a buoyant expansion. The most prominent rate of growth was recorded in 2017 with an increase of 426% against the previous year. Imports peaked at $X in 2019; however, from 2020 to 2021, imports failed to regain momentum.

Imports by Country

The United States (X tons), China (X tons) and Thailand (X tons) were the main suppliers of molluscs imports to India, with a combined 50% share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by China (with a CAGR of +25.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X) constituted the largest supplier of molluscs (scallops, mussels, cuttle fish, squid and octopus) to India, comprising 27% of total imports. The second position in the ranking was taken by China ($X), with an 11% share of total imports. It was followed by Italy, with a 10% share.

From 2012 to 2021, the average annual rate of growth in terms of value from the United States totaled +17.4%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+19.0% per year) and Italy (+18.2% per year).

Import Prices by Country

The average molluscs import price stood at $X per ton in 2021, increasing by 15% against the previous year. Over the period under review, import price indicated prominent growth from 2012 to 2021: its price increased at an average annual rate of +5.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, molluscs import price decreased by -19.6% against 2017 indices. The most prominent rate of growth was recorded in 2013 when the average import price increased by 37%. Over the period under review, average import prices attained the maximum at $X per ton in 2017; however, from 2018 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Oman ($X per ton), while the price for Pakistan ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Italy (+18.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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