India Fish Market Rising with 3.80% CAGR

According to TechSci Research report, “India Fish Market – By Region, Competition, Forecast & Opportunities, 2021–2031F”, the India Fish Market was valued at USD 22.95 Billion in 2025 and is expected to reach USD 28.62 Billion by 2031, growing at a CAGR of 3.80% during the forecast period.

The Indian fish market is entering a new era of transformation, driven by rising domestic consumption, growing health consciousness, modernization of aquaculture, and strong government support. Fish, long regarded as a key source of protein in Indian diets, is evolving from a traditional food item into a commercial and export-oriented industry. Its nutritional richness — high-quality protein, omega-3 fatty acids, vitamins, and minerals — makes it a vital part of India’s food security and nutrition strategy.

The increasing shift toward protein-rich diets, especially among middle-class and health-conscious consumers, is positioning fish as a preferred alternative to red meat and processed foods. From rural villages to metropolitan cities, fish consumption is increasing across diverse income groups, transforming the sector into one of the fastest-growing components of the agri-food economy.

Industry Overview

India is the third-largest fish-producing country in the world, contributing significantly to global aquaculture and inland fisheries. The sector provides livelihood to over 28 million people, directly and indirectly, and contributes substantially to the country’s GDP. The fish market includes a diverse range of products — from fresh and frozen fish to canned and processed varieties.

The transition from traditional capture fisheries to modern aquaculture has been instrumental in boosting supply and ensuring year-round availability. Technological innovations, government incentives, and private investment have accelerated growth, improving productivity, quality, and market reach.

With expanding cold chain infrastructure, better distribution networks, and the rise of organized retail, fish is becoming more accessible, even in landlocked regions of northern India. The market’s ongoing evolution reflects a powerful intersection of tradition, innovation, and sustainability.

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Industry Key Highlights

• The India Fish Market is projected to reach USD 28.62 Billion by 2031, growing at a CAGR of 3.80%.

• India is a global leader in inland fish production, supported by advanced aquaculture systems.

• Rising protein consumption and health awareness are key demand drivers.

• Government initiatives like the Pradhan Mantri Matsya Sampada Yojana (PMMSY) and the Blue Revolution are modernizing fisheries and aquaculture.

• Increasing adoption of biofloc, cage culture, and recirculating aquaculture systems (RAS) is improving yields and sustainability.

• Expansion of cold chain infrastructure and processing facilities is reducing post-harvest losses.

• The online fish retail segment is growing rapidly with brands like FreshToHome, Licious, and Captain Fresh leading the space.

• North India is emerging as a new growth hotspot for fish consumption and distribution.

• Export opportunities are expanding with rising global demand for Indian seafood.

• The integration of technology and traceability systems is enhancing transparency and consumer trust.

Market Segmentation

The India Fish Market is segmented based on product type, distribution channel, and region.

By Product Type

• Fresh Fish: Dominates the market, particularly in coastal and riverine areas, due to preference for natural taste and nutrition.

• Frozen Fish: Gaining popularity for its convenience and extended shelf life, particularly among urban consumers.

• Processed Fish: Growing demand driven by the foodservice industry and ready-to-cook product innovations.

• Canned Fish: Expanding among export markets and health-conscious consumers seeking convenience.

By Distribution Channel

• Offline: Includes local markets, wholesale fish mandis, supermarkets, and retail outlets that still account for the majority of sales.

• Online: The fastest-growing segment, offering hygienic, traceable, and home-delivered options through digital platforms and apps.

By Region

• North India is emerging as the fastest-growing market due to shifting dietary preferences, improved logistics, and growing health awareness.

• Coastal regions such as West Bengal, Andhra Pradesh, Tamil Nadu, and Kerala remain dominant producers and exporters of fish.

Emerging Trends in the India Fish Market

1. Expansion of Aquaculture and Technology Adoption

The evolution of aquaculture is redefining India’s fish production landscape. Modern systems like biofloc technology, cage farming, and RAS are enhancing yield efficiency and ensuring sustainable production. These techniques minimize water usage, improve disease control, and boost production per hectare — making aquaculture more profitable for small and medium-scale farmers.

2. Rise of Online Seafood Retailing

E-commerce platforms are revolutionizing how fish is bought and sold. Urban consumers increasingly prefer online platforms like FreshToHome, Captain Fresh, and Licious, which provide fresh, frozen, and ready-to-cook seafood products with guaranteed hygiene and traceability. These platforms leverage advanced cold chain logistics and digital payment systems, making fish more accessible and appealing to tech-savvy consumers.

3. Growing Popularity of Processed and Value-Added Fish Products

As consumer lifestyles become busier, convenience has become a key driver of food consumption. Ready-to-cook, marinated, and frozen fish products are witnessing growing demand. Modern retail outlets and supermarkets are offering a wide variety of packaged seafood options that cater to both household and foodservice segments. This trend is also opening new opportunities for value-added seafood processing units.

4. Emphasis on Sustainability and the Blue Economy

Sustainability has emerged as a central theme in the fish industry. India’s push toward the Blue Economy emphasizes efficient use of aquatic resources, biodiversity protection, and livelihood generation. There’s a growing focus on eco-friendly aquaculture practices, waste reduction, and responsible fishing to preserve marine ecosystems.

5. Cold Chain and Logistics Modernization

India is investing heavily in cold storage, refrigerated transport, and fish landing centers. These infrastructure improvements are reducing post-harvest losses — a long-standing challenge — and ensuring that fish reaches consumers in optimal condition. This modernization is critical for both domestic consumption and exports.

6. Shift in Consumer Behavior

Consumers are now more discerning, prioritizing freshness, quality, and traceability. There’s also a rise in preference for organic and chemical-free fish, reflecting a broader shift toward clean-label food products. Enhanced awareness about health benefits such as omega-3 intake is influencing purchase decisions.

Market Drivers

1. Rising Health Awareness

Fish consumption is rising as Indians become more conscious about nutrition and wellness. With lower saturated fats and high protein content, fish is increasingly seen as a healthier alternative to red meat. This shift is particularly visible among urban millennials and fitness enthusiasts.

2. Government Policy and Support

The government’s Pradhan Mantri Matsya Sampada Yojana (PMMSY) aims to enhance production, reduce waste, and create employment across the value chain. Other initiatives under the Blue Revolution focus on infrastructure, cold storage, and sustainable fisheries, creating an enabling environment for growth.

3. Technological Advancements in Aquaculture

Innovations such as smart feeding systems, water quality sensors, and AI-based yield monitoring tools are helping farmers maximize efficiency. Technology adoption is driving productivity while reducing environmental impact.

4. Expanding Export Market

India’s seafood exports, particularly shrimp, have earned a strong global reputation. Demand from the U.S., Japan, and Europe continues to boost the industry’s foreign exchange earnings, further supporting domestic fish production.

5. Rapid Urbanization and Income Growth

Rising disposable incomes, urban lifestyles, and exposure to global cuisines are encouraging experimentation with seafood dishes. This trend is fueling growth in demand for both fresh and processed fish.

6. Growth of Organized Retail and Foodservice Industry

Supermarkets, hypermarkets, and restaurant chains are creating consistent demand for high-quality fish. Processed seafood, including fillets, frozen prawns, and canned tuna, is gaining traction among urban consumers.

Competitive Analysis

The India Fish Market is a highly competitive and fragmented space, comprising both large-scale exporters and small to medium-sized producers. The market’s competitive landscape is shaped by product quality, distribution efficiency, pricing strategy, and brand trust.

Key Companies Operating in the Market:

• Nekkanti Sea Foods Limited – A pioneer in shrimp processing and exports, known for its high-quality standards and global presence.

• Avanti Frozen Foods Pvt. Ltd. – Focused on aquaculture and seafood exports with strong international demand.

• Devi Sea Foods Limited – One of India’s leading processors of frozen shrimp and value-added seafood products.

• Falcon Marine Exports Ltd. – Known for its extensive export network and focus on sustainability.

• BMR Group – Diversified operations across aquaculture, feed manufacturing, and seafood processing.

• Sandhya Marines Ltd. – Strong presence in both domestic and export markets with high-quality processing capabilities.

• Apex Frozen Foods Limited – A leading player in the frozen shrimp segment catering to global markets.

• Ananda Aqua Exports Pvt. Ltd. – Engaged in shrimp farming, processing, and exports, emphasizing quality and traceability.

• Crystal Sea Foods Pvt. Ltd. – Focused on processed and value-added seafood for export markets.

• Citrus Alpha Marine LLP – A new-age company promoting sustainable fishing and eco-friendly aquaculture practices.

Emerging startups in the online seafood delivery space are redefining the domestic retail market. Brands like FreshToHome, Captain Fresh, and Licious have transformed consumer buying patterns, emphasizing hygiene, transparency, and convenience.

Future Outlook

The future of the India Fish Market looks highly promising. The sector is expected to continue growing steadily, driven by a combination of demand-side and supply-side factors.

As India moves toward becoming a major player in the global seafood trade, investments in cold chain logistics, processing infrastructure, and aquaculture technology will play a pivotal role. The domestic market will witness rising consumption of processed, frozen, and ready-to-eat fish products, while the export segment will benefit from strengthening global demand for Indian seafood.

Moreover, sustainability will remain a defining theme, with policies and innovations aimed at balancing growth with environmental preservation. The market’s ongoing digital transformation, through traceability systems and smart farming tools, will enhance operational efficiency and consumer confidence.

By 2031, the Indian fish industry is expected not only to contribute significantly to national GDP but also to emerge as a cornerstone of food security, employment, and rural economic growth.

10 Benefits of the Research Report

1. Comprehensive Market Coverage: Provides a complete overview of the fish industry’s structure, key segments, and growth trajectory.

2. Accurate Market Forecasts: Offers reliable projections for market size, volume, and future trends up to 2031.

3. Strategic Investment Insights: Helps businesses identify potential growth areas and strategic investment opportunities.

4. Competitive Benchmarking: Analyzes leading players’ performance, strategies, and market shares.

5. Consumer and Regional Insights: Offers deep understanding of consumer behavior and regional consumption dynamics.

6. Policy and Regulatory Overview: Explains government initiatives and their impact on market expansion.

7. Technology and Innovation Trends: Highlights emerging technologies and sustainable aquaculture practices.

8. Export and Import Analysis: Evaluates India’s position in global seafood trade and export opportunities.

9. Risk and Challenge Assessment: Identifies potential market challenges and suggests mitigation strategies.

10. Customization Flexibility: Allows tailored insights and data for specific business requirements or target regions.

    The India Fish Market stands at the forefront of a new wave of transformation. With rising consumer awareness, technological adoption, and government initiatives, the market is poised for sustainable growth. Fish has evolved beyond being a staple food — it is now a symbol of economic opportunity, nutritional advancement, and environmental balance.

From aquaculture innovation to online retail revolution, every aspect of the industry is aligning toward modernization. As India continues to harness its aquatic resources under the vision of the Blue Economy, the fish sector will remain a key pillar of the country’s journey toward nutritional security and sustainable prosperity.

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