The marine capture fisheries production volume in India exhibited variability from 2013 onwards. An initial high YoY increase of 8.29% in 2014 was followed by fluctuating declines and growths, with significant drops in 2015 (-7.29%) and 2018 (-11.29%). The CAGR over these years reflected similar variability, revealing peaks and troughs. This trend stabilized post-2019, with modest YoY increases averaging around 0.64%, leading to a 2023 value of 4.59 units. Forecasts from 2024 onwards suggest steady growth by about 0.45% CAGR, which is indicative of a maturing market.
Future trends to watch for in the marine fisheries sector include:
- Technological advancements in sustainable fishing methods.
- Government policies impacting fishing regulations and resource management.
- Climate change effects on marine biodiversity and fish stock availability.
- Global economic shifts affecting export markets and demand for marine products.
