India Aquafeed Market to Grow from $4.03B to $5.92B by 2033

Posted 2025-11-14 11:10:09

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India Aquafeed Market Forecast (2025–2033)

The India Aquafeed Market is projected to grow from US$ 4.03 billion in 2024 to US$ 5.92 billion by 2033, registering a CAGR of 4.37% from 2025 to 2033. Rising health consciousness, expanding cold-chain infrastructure, improved supply chain ecosystems, and increasing disposable incomes have shifted seafood sales from traditional wet markets to modern retail formats such as supermarkets—significantly strengthening demand for quality aquafeed across India. As aquaculture expands to meet the surging consumption of fish and shrimp, the requirement for nutritionally balanced, species-specific feed continues to rise.

The Indian aquafeed market is analyzed by Species, Ingredients, Additives, Product Form, Top States, and Company Profiles, reflecting the diversity of India’s aquaculture ecosystem and the evolving priorities of fish and shrimp farmers nationwide.

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India Aquafeed Industry Overview

India’s aquafeed sector has grown substantially over the past decade, driven by the rapid expansion of aquaculture and a consistent shift toward scientifically formulated feed. India is among the world’s largest producers of finfish and shrimp, and aquaculture plays an essential role in national food security, rural livelihoods, and export earnings. This growth has fueled demand for commercial aquafeed that replaces traditional feeding practices with nutrient-dense, balanced formulations designed to improve growth, enhance immunity, and reduce mortality.

Freshwater species such as rohu, catla, mrigal, and high-value species like pangasius and tilapia, along with brackish-water shrimp such as Litopenaeus vannamei, account for the majority of feed consumption. Over time, government support programs, private-sector investments, and technological progress have helped modernize the feed value chain—from ingredient sourcing and processing to farmer outreach and quality assurance.

Growing emphasis on species-specific feed, improved digestibility, feed conversion ratios (FCR), and environmental sustainability is reshaping product development. Companies are heavily investing in R&D to formulate feeds that enhance nutrient uptake, reduce waste, and mitigate ecosystem impact. The government’s push toward sustainable aquaculture, combined with increased adoption of floating and sinking pellet feeds, is accelerating market modernization.

Despite strong growth, challenges persist: fluctuations in raw material prices, uneven cold-chain infrastructure, and inadequate farmer training in remote or underdeveloped aquaculture areas. Regional disparities in feed accessibility and knowledge dissemination continue to affect efficiency and scale. Nonetheless, the long-term outlook remains positive, supported by rising domestic fish consumption, export potential, and the shift toward intensive and semi-intensive farming methods. Increasing investment in value-added feeds and sustainability-focused production is expected to define the next phase of industry evolution.

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Key Factors Driving India’s Aquafeed Market Growth

1. Expansion of Aquaculture Operations

India ranks among the world's fastest-growing aquaculture producers, with inland and coastal farming expanding at record pace. As farmers move from traditional extensive systems to semi-intensive and intensive models, the need for high-quality commercial feed has risen sharply.

Shrimp aquaculture—especially in Andhra Pradesh, Tamil Nadu, and Odisha—has been a major demand driver. With export-oriented shrimp production growing rapidly, consistency in feed nutrition and quality has become essential. Freshwater aquaculture has also expanded in states like West Bengal, Bihar, and Uttar Pradesh, creating a robust demand base for carp and catfish feed.

Growing domestic consumption, rising exports, and increasingly organized farm operations are amplifying the need for standardized, nutritionally reliable feed across species and geographies.

2. Increased Awareness of Scientific Feeding Practices

Indian aquaculture farmers are becoming more aware of the benefits of using scientifically formulated feed to improve growth performance, feed conversion, and disease resistance. This shift from homemade feeds (rice bran, oil cakes, farm waste) to balanced commercial feed has accelerated market penetration.

Government initiatives, private training programs, digital advisory platforms, and NGO interventions are enhancing farmer knowledge. Training on water quality monitoring, feeding schedules, species-specific diets, and health management is improving feed adoption and productivity.

This growing scientific awareness is creating long-term behavioral change, ensuring sustained demand for commercial feed.

3. Product Innovation and Technological Advancements

Continuous advancements in feed science are revolutionizing India’s aquafeed market. Domestic and multinational companies are investing in:

· Species-specific formulations

· Probiotic-enhanced feeds

· Enzyme-based feeds for improved digestibility

· Floating and sinking pellets for targeted feeding

· Low-pollution, eco-friendly feed variants

· Organic and antibiotic-free feed solutions

Technologies such as smart feeding systems, digital farm monitoring, and precision aquaculture tools further improve feed utilization. These innovations enhance profitability, reduce waste, and make aquafeed an indispensable part of modern aquaculture ecosystems.

Challenges in the India Aquafeed Market

1. Raw Material Price Volatility

Feed ingredients such as fish meal, soybean meal, maize, fish oil, and various additives experience frequent price fluctuations influenced by:

· Global commodity market shifts

· Weather-induced supply disruptions

· Import restrictions

· Increased global demand for protein-rich ingredients

· Domestic production inconsistencies

This volatility raises production costs and creates difficulties in maintaining consistent pricing and quality. Smaller feed manufacturers, in particular, face scalability constraints due to unstable raw material availability.

2. Limited Farmer Awareness and Technical Knowledge

A large proportion of small and marginal aquaculture farmers continue using conventional feeds due to:

· Limited awareness of commercial feed benefits

· Inadequate technical training

· Lack of access to extension services

· Price sensitivity

· Inconsistent rural distribution networks

Poor feed management practices result in suboptimal growth, higher mortality, and environmental stress. Bridging this knowledge gap is crucial to unlocking the full market potential.

India Aquafeed Market Overview by Regions

Maharashtra

Maharashtra’s aquafeed market is expanding steadily due to increased inland aquaculture production and growing demand for freshwater species such as rohu and catla. Adoption of scientific feeding practices is rising through government subsidies, farmer training sessions, and awareness programs. However, issues such as inadequate technical knowledge and inconsistent feed supply still challenge widespread adoption.

Tamil Nadu

Tamil Nadu is one of India’s most dynamic aquafeed markets, supported by robust shrimp and freshwater fish farming. The state benefits from:

· Strong government support

· Efficient distribution networks

· Rising awareness of commercial feed advantages

· Active involvement of regional and national feed producers

Despite concerns related to input costs and water quality management, Tamil Nadu remains a high-growth aquafeed cluster.

Gujarat

Gujarat’s aquafeed market is advancing rapidly, driven by brackish-water shrimp farming along the coastline. Government investments in hatcheries, cold-chain infrastructure, and fisheries development programs are accelerating commercial feed adoption. Farmers are increasingly shifting to scientifically formulated feeds, though issues such as water salinity fluctuations and limited access to advanced farming techniques persist.

West Bengal

West Bengal is a dominant freshwater aquaculture hub, contributing substantially to India’s carp feed demand. The state’s rich water resources and large number of smallholders create strong feed consumption. Government support programs, fisheries development projects, and species-specific feed offerings are improving adoption, though challenges such as price sensitivity and inadequate technical training remain.