Key Market Indicators
India's fish production is projected to rise significantly, reaching approximately 14.5 million metric tons by 2028. This marks an increase from about 10.9 million metric tons in 2023, with an average annual growth rate of 4.5%. Historically, since 1965, the country's fish supply has expanded at an average rate of 8.5% per year. Conversely, fish consumption in India is expected to decline. Projections indicate a fall to roughly 412,000 metric tons by 2028 from around 558,000 metric tons in 2023, reflecting a compound annual growth rate (CAGR) decrease of 4.8%. Since 2019, the demand for fish in India has consistently dropped by 4.8% annually. In 2023, India ranked 12th globally in fish consumption, with Ghana surpassing it with 558,000 metric tons. Japan, the Philippines, and Thailand occupied the second, third, and fourth positions respectively in this ranking.
