The import of frozen shrimps and prawns to India is projected to increase steadily from 2024 to 2028. In 2023, the actual import value stood approximately at a significant level, which provides the base for the following forecasts. The year-on-year growth forecasted is approximately 4.77% for 2025, 4.45% for 2026, 4.18% for 2027, and 3.93% for 2028. Over these five years, the compound annual growth rate (CAGR) averages around 4.33%, illustrating a consistent upward trend in import value.
Future trends to watch for include:
- Global shrimp and prawn market dynamics impacting prices.
- Changes in consumer preferences towards seafood in India.
- Regulatory policies and tariffs influencing import costs and volumes.
- Advancements in supply chain mechanisms ensuring quality and efficiency.
