The crustaceans market in India has shown notable fluctuations over the past decade. From 512.14 Thousand Metric Tons in 2014, it grew substantially to 593.21 Thousand Metric Tons in 2023, representing a 0.72% year-on-year growth and a 0.76% CAGR over the last five years. The market experienced significant variations, including a severe 16.35% drop in 2020 due to the pandemic, followed by a robust 15.33% recovery in 2021.
Looking forward, the forecasted figures indicate a continued upward trajectory with a 5-year CAGR of 0.59%, predicting the market to reach 613.73 Thousand Metric Tons by 2028. This represents an overall growth rate of 3.01% from 2023 to 2028.
Future trends to watch for include the impact of climate change on marine ecosystems, advancements in aquaculture technology, and changing consumer preferences towards sustainable seafood products.
