The total aquaculture production in India has shown significant fluctuations with an overall growth trend from 2013 to 2023, standing at approximately $16.65 trillion USD in 2023. The sector faced notable dips, such as the -14.78% drop in 2020, but saw strong recoveries, for instance, a 19.01% increase in 2021. Over the last five years, the compound annual growth rate (CAGR) was 4.24%. Forecasts for 2024 to 2028 predict a moderate CAGR of 2.6%, indicating a steady, albeit slower, growth rate with an expected total production rising to approximately $19.57 trillion USD by 2028.
Future trends to watch for:
- Technological advancements in sustainable aquaculture practices.
- Government policies and subsidies influencing sector growth.
- Consumer trends towards sustainable and locally farmed seafood.
- Impact of climate change on aquaculture production and yield.
