India has a thriving and evolving aquaculture industry. However, most farmers still rely on low cost and easily available traditional feeds comprised of rice/wheat bran, groundnut cake, and other agro products. But the demand for commercial aquafeed is increasing. This trend is being driven by a growing awareness of the benefits.
According to the market research report, “India Commercial Aquafeed Market Outlook 2018“, the current and future scenario of commercial aquafeed industry in India is portrayed. The analysts anticipate that more number of fishes will be cultured in the country in the future, triggering the demand for commercial aquafeed in the coming years. The research is an outcome of extensive primary & secondary research, and thorough analysis of industry trends. For the study, we have conducted interviews with various industry experts, such as fisheries & aquaculture dealers, and aquafeed manufacturers.
The report provides production forecast till 2018 for the major aquacultured finfishes like carps, tilapia and catfishes, along with aquacultured shellfish. Since the aquaculture production is expected to increase in the future, the production and consumption of commercial aquafeed is also bound to increase. Thus, the report also covers commercial aquafeed market forecast till 2018, which has been further fragmented into commercial finfish feed and commercial shrimp feed market.
Efforts are also being made to improve the feed for these fish to attain high productivity. Thus, commercial finfish feed consumption is expected to grow during 2014-2018. The growth in the demand of commercial feed for these fish will also propel an equivalent increase in the demand for ingredients like soybean meal and rice bran.