In 2023, India's import of prepared or preserved shrimps and prawns was significantly lower than the forecasted values starting from 2024. The data shows a consistent year-on-year increase in imports from 2024 to 2028, with values rising from $526.64K in 2024 to $629.94K in 2028. The average compound annual growth rate (CAGR) over this period is consistent with a robust upward trend, indicating growing demand.
Future trends to watch include:
- Fluctuations in domestic shrimp and prawn production affecting import reliance.
- Changes in dietary habits and consumer preferences impacting demand.
- Economic factors such as exchange rates and import tariffs influencing import costs and sourcing strategies.
