India Frozen Prawns Market Research Report, 2027-28

Prawns are generally found in freshwater lakes and streams, and deep and shallow waters. It is a rich source of iron, copper, proteins, selenium, antioxidants, phosphorus, magnesium, and vitamin B12. Consequently, its consumption aids in weight loss, fighting aging, improving bone health, decreasing menstrual pain, and preventing cardiovascular diseases. Moreover, due to the easy availability of land and labour and comparatively lower shrimp farming cost, India has become one the biggest exporters of fresh and frozen shrimp products around the world. In line with this, the escalating demand for shrimp products at a global scale is contributing to the market growth. Furthermore, the growing popularity of regional and international cuisines, along with the rising health consciousness among individuals, is positively influencing the demand for prawns products in the country. Additionally, due to the rising environmental concerns, the Government of India is introducing various initiatives to encourage organic shrimp farming practices, which is offering lucrative growth opportunities to key players operating in the country.

According to "India Frozen Prawns Market Research Report, 2027-28", frozen prawns maintained its position as the top item of export, accounting for major market share of the total seafood exports by volume in 2021-22. Penaeus Vannamei shrimp currently holds the largest market share on account of its significant farming in the country. Present, size 31-40 shrimp accounts for the majority of the total market share. In the packaged frozen prawn's category, fewer 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.

One of the main trends seen in the India shrimp market is the growth of the food industry due to the growing demand for ready-to-eat food items. It is driven by factors including rapid urbanisation, shifting habits, hectic work schedules, and growing number of working women. As a result, the shrimp market in India is experiencing healthy production. In addition, the growing demand for shrimp globally has positively affected imports of shrimp from India. Moreover, the growing consumer health consciousness, rising disposable incomes, and improving living standards remain some of the other primary factors that are further increasing the demand for shrimps in India.

India exports a large amount of marine products to various countries. 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.

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 seafood's 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.

Considered in this report
• Geography: India
• Base year: FY 2021-22
• Estimated year: FY 2022-23
• Forecast year: FY 2027-28

Aspects covered in this report
• India Frozen Prawns market with segment along with value, segments and forecast
• Product price and variant analysis
• Various divers and challenges
• Ongoing trends and developments
• Five force models
• Top profiled companies
• Strategic recommendation

By Type of Prawn covered in the report
• L. Vannamei
• Tiger
• Scampi
• Others

By Size of Prawn covered in the report
• Small
• Medium
• Large
• Jumbo

By Packaging type covered in the report
• Polypack
• Polypack &Thermocol
• Can

By End User covered in the report
• Retail
• HoReCa

By Demographics covered in the report
• Rural
• Urban

By Regions covered in the report
• West
• East
• North
• South

Approach of the report:
Actual Market Research performed primary as well as secondary research for this study. Initially, a list of manufacturers and suppliers operating in the Sun Care Market of India were sourced through secondary sources. With the identified companies and consumers, primary research was carried out which included conducting online surveys, competitor analysis and exhaustive personal interviews - both face to face as well as telephonic basis, to extract maximum information from participants like industry executives/ distributors or consumers. Primary research gave us an idea of company revenues, export, pricing, geographical presence, channel partner model, USP etc. and also helped us to identify various small players who otherwise have less presence on the web.
Actual Market Research seeks secondary data from third-party sources such as published articles, company websites, magazine articles, associations, trade journals, annual reports, government official websites and other paid database sources. In addition, data is also mined from a host of reports in our repository, as well as a number of paid databases of Indian government. Using both primary and secondary information, Actual Market Research calculated the market size through a bottom-up approach, where manufacturers’ value sales data for different types of sun care products were recorded and subsequently forecasted for the future years.

Intended Audience:
This report can be useful to Industry consultants, manufacturers, suppliers, associations & organizations related to frozen prawns, government bodies and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.