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The analysis of the Indian fish and seafood market is aimed at finding up-to-date information and analyzing the market size, consumers and competitors in the market under study, changes that occurred in 2017-2020, as well as the forecast and trends in the industry in the long term for the period up to 2024.
Part 1. Overview of the Indian fish and seafood market
1.1. Main characteristics of the market
1.2. Dynamics of the volume of the fish and seafood market 2016-2020 Potential market capacity
1.3. Assessment of factors affecting the market
1.4. Life cycle stage of the fish and seafood market
1.5. Competition from substitute products
Part 2. Competitive analysis in the fish and seafood market
2.1. Major players in the market
2.2. Market shares of the largest competitors
2.3. Profiles of major players
Part 3. Analysis of fish and seafood production
3.1. Volume and dynamics of domestic production of fish and seafood
3.2. Share of exports in fish and seafood production
3.3. Segmentation of fish and seafood production by region:
3.3.1. Production by Union Territories
3.3.2. Production by states of India
Part 4. Analysis of foreign trade supplies of fish and seafood
4.1. The volume and dynamics of imports of fish and seafood
4.2. Structure of imports by countries
4.3. Volume and dynamics of fish and seafood exports
4.4. Structure of exports by countries
Part 5. Analysis of consumption of fish and seafood
5.1. Dynamics of consumption of fish and seafood
5.2. Analysis of the results of tenders for the purchase
Part 6. Price Analysis
6.1. Average producer prices by union territories
6.2. Average consumer prices by states in India
Part 7. Assessment of factors of investment attractiveness of the market
Part 8. Forecast for the development of the fish and seafood market until 2025
Part 9. Recommendations and conclusions
Description of the fish and seafood market
Now the Indian fishing market is concentrated in the two main fishing areas of the country. These regions can be defined as - the northern, which includes the territories of Murmansk and Arkhangelsk, the second region is the Far East, located from Kamchatka to Vladivostok. More than 40 different species of fish live in the coastal zone of these areas, the Indian fishing market is also rich in catching seafood, such as crabs, shrimp, cephalopods.
The most popular fish species are herring, pink salmon and other salmon species, chum salmon, and sockeye salmon. The most popular fish species for export is pollock, so China, which is one of the main sales markets, sends about 1 million tons of fish and seafood annually, of which almost 50% of exports are frozen pollock.
In December 2020, due to the spread of the COVID-19 pandemic, China decided to close ports, which greatly hampered the supply of fish and seafood from India.
The current situation on the market led to a strong collapse in prices for fish, including pollock. Indian fisheries producers have begun to look for alternative markets for their products and have increased shipments to South Korea in 2020 in an attempt to avoid a severe market decline.
Current state of the market
The current state of the Indian fish and seafood market is about the same as in 2019. In terms of the rate of fish catch and the extraction of other aquatic biological resources in 2020, the fishery is at the level of 4,9 million tons, which showed a negative increase of 0,2% compared to the previous year.
The peak of the catch for the study period was reached in 2018 and amounted to more than 5 million tons of catch.
Diagram. Fish catch, production of other aquatic biological resources in 2017-2020, tons
Source: Federal Agency for Fisheries
Structure and production of fish and seafood in India
The structure of fisheries by types of catch of fish and aquatic biological resources is shown in the diagram below. So in 2020, the largest share of the catch of 54% falls on the category of fish - cod, hake, macrorus. The second place is occupied by herring and anchovy fish, with a share of 18%, the third place in terms of the share of the catch is with salmon with 6%.
The remaining types of fish species in the total catch in India are slightly more than 20%, since the main catch falls on the first three categories.
Diagram. Fish catch, harvest of other aquatic biological resources in 2020, by species, %
Source: Federal Agency for Fisheries
In terms of the production of the main types of products in India, among the categories related to fisheries and seafood, live marine fish are in the lead, which is precisely the majority that is exported, so the production of this category in 2020 increased by 5% and amounted to 153 thousand tons. Also in 2020, the production of fresh or chilled freshwater fish increased, however, other categories of fish products showed a decrease in growth rates in 2020.
Most of all, the decrease in indicators is noticeable in the category of non-frozen crustaceans.
Diagram. Production of main types of products in physical terms, 2017-2020, tons (operational data in accordance with OKPD2)
Market development prospects
The main trends that influenced the promotion of the fish and seafood market in India in 2020 are:
The restrictive measures introduced due to the spread of the pandemic led to a disruption in logistics supplies and a decrease in demand both in the global and domestic markets.
In the domestic market, the decrease in demand occurred, among other things, due to a decrease in the income of the population caused by the economic crisis and the difficult situation due to the conditions of the pandemic
Problems and interruptions in the supply of fish and seafood to the Chinese market affected the volume and structure of exports of products, and this factor also affected the decline in purchase prices.
Conclusions on the Development of the Fish and Seafood Market in India
Thus, taking into account all the problematic aspects affecting the market under study, the profit before tax of large and medium-sized fisheries decreased by 16,5% compared to 2019 and amounted to 150 billion rupees in 4. For the analyzed period of 2020-2017, this is the first such significant drop in profits.
For a more detailed overview of the structure of the fish and seafood market, dynamics of production and sales, analysis of consumer demand, we suggest ordering a full-fledged market research.
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