The pelagic fish feed market in India experienced fluctuations with significant growth in 2016 (120.52%) and a notable drop in 2017 (-42%). From 2018 to 2023, the market showed steady but moderate growth, with a 2023 value of 430.62 thousand metric tons and a YoY variation of 1.2%. Over the last five years, the CAGR was 2.35%, indicating a relatively stable upward trend.
Looking forward to 2024 and beyond, the forecast suggests a steady growth rate, with a 5-year CAGR of 0.86% and an overall growth rate of 4.35% by 2028.
Future trends to watch for include:
- Innovations in fish feed formulation
- Impact of environmental regulations on feed production
- Changes in aquaculture practices and their effect on feed demand
- Potential shifts in export markets and global trade dynamics
