According to IMARC Group latest published report, The India aqua inputs and supplements market size reached INR 30.3 Billion in 2022. Looking forward, IMARC Group expects the market to reach INR 62.8 Billion by 2028, exhibiting a growth rate (CAGR) of 12.5% during 2023-2028.
Year Considered to Estimate the Market Size:
Base Year of the Analysis: 2022
Historical Period: 2017-2022
Forecast Period: 2023-2028
Aqua inputs and supplements are chemicals substances that provide a healthy environment to shrimp by neutralizing the imbalance of minerals and vitamins in soil, water and feed. They also reduce the expenditure incurred during shrimp farming, enabling healthy harvest and higher profit margins. In India, with the rising awareness among farmers about the benefits offered by organic inputs and supplements, there has been a rise in their demand. Farmers utilize them to minimize the negative environmental impact on the animals and develop high-quality shrimp with ‘organic’ status to meet the stringent international certifications.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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India Aqua Inputs and Supplements (for Shrimp) Market Trends:
Over the years, there has been a significant rise in shrimp consumption and export potential in India. This has encouraged farmers to use efficient and improved aqua inputs and supplements to meet the growing shrimp demand. These inputs and supplements help prevent the frequent breakout of disease and reduce the growth of pathogenic organisms. Along with this, the stringent global quality norms have prompted farmers to use commercial aquaculture farm inputs to ensure optimum shrimp health.
Besides this, the Government of India is undertaking several initiatives and organizing training programs to promote the use of aqua inputs and supplements across the country. For instance, government bodies, such as the Marine Products Exports Development Authority (MPEDA), is supporting shrimp culture through the cluster farming approach. More than 10,000 farmers have been organized into aqua societies, which help them access credit, quality seeds, feeds and other inputs, thereby reducing the burden of diseases and improving product quality.
Table of Contents
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the Indian aqua inputs and supplements (for shrimps) market report, along with forecasts at the country and state level from 2023-2028. Our report has categorized the market based on end-use and product type.
Breakup by End-Use:
- Feed and Disease Management
- Water Management
- Soil Management
Breakup by Product Type:
- Vitamins and Mineral Supplement
- Growth Promoter
- Oxygen Enhancer
- Liming Material
- Organic/Inorganic Fertilizers
Breakup by State:
- Andhra Pradesh
- West Bengal
The competitive landscape of the industry has also been examined with some of the key players being Bayer CropScience Limited, Biostadt India Limited, C. P. Aquaculture (INDIA) Private Limited, Growel Formulations Pvt. Ltd., Gentle Bio-Sciences Pvt. Ltd., Hi-Tech Pharma, Intas Animal Health, Kemin Industries South Asia Pvt. Ltd, Neospark Drugs and Chemicals Private Limited, Poseidon Biotechnology, PVS Group, Srinivasa Cystine Pvt. Ltd., Sanzyme Biologics, SDC Agro-Vet India Pvt. Ltd., DeVee Biologicals Pvt. Ltd., Synergy Biotechnologies, Virbac Animal Health India Private Limited, etc.
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