The crustaceans production in India stood at 1.30 million metric tons in 2023. Over the past two years, production has shown a consistent increase, with a 1.81% year-on-year growth in 2023. The compound annual growth rate (CAGR) over the last five years averages 1.82%. Notably, between 2014 and 2019, production exhibited robust growth, notably a 16.14% spike in 2017. However, a sharp decline of -15.3% occurred in 2020 due to COVID-19 disruptions, followed by recovery phases in subsequent years.
Future projections indicate a steady but modest growth with a CAGR of 1.42% from 2024 to 2028, leading to a forecasted production of 1.42 million metric tons by 2028.
Future trends to watch for:
- Impact of sustainable fishing practices and regulations on production volumes
- Technological advancements in aquaculture
- Fluctuations in global demand and export opportunities
