Commercialization of Aquafeed Likely to Reach Chinese Level by 2035
Added: (Thu Nov 02 2017)
Pressbox (Press Release) -
“Rising Penetration of Commercial aquafeed and increasing fish farming drives Indian Aquafeed Market significantly” says RNCOS
India is the second largest producer of fish and it provides an immense opportunity for aquafeed manufacturers to tap the growing demand. Aquaculture and its allied industry in India are already witnessing strong growth due to growing demand for finfish. Commercial aquafeed industry is registering modest growth due to factors like, increasing fish farming and surging penetration of commercial aquafeed in the country.
RNCOS recently published research report, titled “Indian Commercial Aquafeed - The Changing Market Landscape” provides 360 degree view of the Indian aquafeed industry. As per our research, Andhra Pradesh alone accounts for 22% of India’s total commercial aquafeed consumption followed by West Bengal; however, the penetration of commercial aquafeed is still at 10% for finfish category and a little higher for shellfish category in the state. This makes the state an attractive investment destination for aquafeed manufacturers.
The commercialization of aquafeed in India has grown over the past decade though it is still around half of Chinese commercialization of aquafeed. Low rate of commercialization can be attributed to lack of awareness among Indian farmers and unfavorable aquafeed prices; nevertheless owing to growing government schemes to boost productivity, India’s commercial aquafeed industry will grow in the next decade and commercialization might reach to Chinese level by 2035.
On account of our findings, the Southern region is a major demand generator of commercial finfish feed in India, and is estimated to occupy a share of around 38% in 2015-16, followed by Eastern and Western region. The report also includes business description of the key industry players and detailed insights on the India Aquafeed industry.
Production of aqua cultured species in India is gaining momentum due to the increased initiatives taken by the government to promote Indian fishery industry. The subsidies and assistance provided by the government for development of aquaculture has been driving its growth. Both the Central and the state governments have undertaken several policy initiatives to boost the growth of fisheries industry of India. Recently, in 2015, Himachal Pradesh, allotted financial aid of INR 1,00,000 under the centrally sponsored scheme for construction of a pond of one hectare to the youth belonging to the scheduled caste and scheduled tribe, and INR 80,000 to the general category of farmers. Such developments will lead to increased aquafeed consumption in the country and will equally exhibit more opportunities for aquafeed manufacturers to reap profits.
For FREE SAMPLE of this report visit: http://rncos.viewpage.co/Commercial-Aquafeed-Market
Check Related REPORTS on: http://www.rncos.com/Food&Beverages.htm
RNCOS is a leading industry research and consultancy firm incorporated in 2002. As a pioneer in syndicate market research, our vision is to be a global leader in the industry research space by providing research reports and actionable insights to companies across a range of industries such as Healthcare, IT and Telecom and Retail etc. We offer comprehensive industry research studies, bespoke research and consultancy services to Fortune 1000, Trade associations, and Government agencies worldwide.