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India Frozen Prawns Market Outlook, 2022: During the Financial Year 2017-18 Exports of Marine Products Reached an All-Time High & Recorded a Growth of 19.11% - ResearchAndMarkets.com

February 3, 2020 GMT

DUBLIN--(BUSINESS WIRE)--Feb 3, 2020--

The “India Frozen Prawns Market Outlook, 2022” report has been added to ResearchAndMarkets.com’s offering.

India exports a large amount of marine products to various countries. During the financial year 2017-18 exports of marine products reached all-time high and recorded a growth of 19.11% in rupee earnings as compared to the previous year. However barely 5% of India’s seafood exports are in the processed form; most exports are in the form of frozen seafood. Approximately half of the seafood revenue comes from the export market and the rest from domestic. The tastes and habits of the consumers in India are changing especially in seafood. Previously seafood was majorly consumed in the coastal regions of India.

However it is now becoming popular across all the regions even in interior. This scenario gives indication of the better growth of domestic seafood industry. The young generation prefers ready to cook and ready to eat seafood due to its cooking convenience. Thus customers have started accepting seafood products like fish prawns etc. in the frozen form due to its good quality and availability throughout the year. However, per capita consumption in India still remains extremely low as compared to other countries.

According to “India Frozen Prawns Market Outlook 2022” frozen prawns maintained its position as the top item of export accounting for 41.00% of the total seafood exports by volume in 2017-18. In the packaged frozen prawns category less than 2% of the revenues come from domestic market. However with the rising consumption of frozen prawns in India the domestic market is expected to grow robustly in the coming three years.

India frozen prawns market consists of players like West Coast Fine Foods (Cambay tiger), Al Kabeer, Apex Frozen Food, Avanti Frozen Food, Forstar, Gadre Marine Export, IFB Agro, Innovative Foods, and ITC Limited. There are two end users for the domestic market viz. Retail and Horeca. Frozen prawns come in four types of size like small, medium, large, and jumbo. Small frozen prawns are popular in the domestic market due to their high demand in retail as well as Horeca segments.

In terms of production of prawns, Andhra Pradesh tops the chart followed by West Bengal and Tamil Nadu. The Government of India has focussed on various policy initiatives in infrastructure and tax system including cold chain industry and frozen seafood exports.

A lot of government initiatives have led to a drastic improvement in the supply chain network and cold chain facilities in India. After the implementation of GST frozen seafoods have been quoted under 5% tax slab. With the government relaxing custom duties on machinery and transport equipment that is associated with frozen seafood, the cost of supply chain operation would come down and this will in turn invite more national and international brands to enter various products categories. Since the industry is still in its nascent stages, frozen prawns are expected to lead the growth in constant values sales over the forecast period.

The report gives an in-depth understanding of frozen prawns market in India:

Key Topics Covered:

1. Executive Summary

2. Global Seafood Market Outlook

3. India Seafood Market Outlook

3.1. Market Size By Value

3.2. Export Scenario

3.2.1. By Value

3.2.2. By Volume

3.2.3. By Country

3.3. Production

4. India Prawns Market Outlook

5. India Fresh Prawns Market Outlook

5.1. Markey Size & Forecast

5.2. Production

6. India Frozen Prawns Market Outlook

6.1. Markey Size & Forecast

6.2. Domestic Frozen Prawns Market

6.3. Product Price & Variant Analysis of Top Players

6.4. Potential By States (High Demand vs. Low Demand)

6.5. List of Companies with their Focus Area

6.6. Revenue Composition of Major Domestic Players

7. Trade Dynamics

7.1. Import of Frozen Prawns

7.2. Export of Frozen Prawns

8. India Economic Snapshot

9. Overview of Cold Chain Industry

10. PEST Analysis

11. Policy and Regulatory Landscape

12. India Frozen Prawns Market Dynamics

12.1. Key Drivers

12.2. Key Challenges

13. Market Trends and Developments

13.1. Spreading Out of Modern Retail Formats

13.2. Young Population Seeking Convenience and Novelty

13.3. Increasing Demand of Seafood in HoReCa Segment

13.4. Rising Consumer Preferences for Frozen Non-Vegetarian Products

13.5. Major Non-vegetarian Population in India

14. Competitive Landscape

14.1. Porters Five Forces

14.2. Company Profiles

14.2.1. Al Kabeer Exports Private Limited

14.2.2. Apex Frozen Food Limited

14.2.3. Avanti Frozen Food Private Limited

14.2.4. Britto Seafood Exports Private Limited

14.2.5. Forstar Frozen Food Private Limited

14.2.6. Gadre Marine Export Private Limited

14.2.7. IFB Agro Industries Limited

14.2.8. Innovative Foods Limited

14.2.9. ITC Limited

14.2.10. West Coast Fine Foods (India) Private Limited

15. Strategic Recommendations

16. Disclaimer

For more information about this report visit https://www.researchandmarkets.com/r/addf0r

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SOURCE: Research and Markets

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PUB: 02/03/2020 09:50 AM/DISC: 02/03/2020 09:50 AM