Between 2013 and 2023, aquaculture production of marine and partly-marine species in India grew significantly, reaching 1340 thousand metric tons in 2023. The compound annual growth rate (CAGR) over the last five years was notable at 10.55%, indicating a strong upward trend in production. The year-on-year growth rate displayed variability, peaking at 25.19% in 2015 and maintaining consistent growth thereafter with notable rates like 19.26% in 2020 and 8.27% in 2023.
Looking ahead, the forecast up to 2028 suggests continued growth with a forecasted CAGR of 4.97%, pointing to a more modest but steady increase in production. By 2028, production is expected to reach 1840 thousand metric tons, a 27.42% increase from 2023 levels.
Future trends to watch for include:
- Technological advancements in aquaculture practices
- Policy changes impacting marine species conservation and aquaculture incentives
- Market demand fluctuations for seafood both domestically and internationally
