India Frozen Prawns Market Overview, 2017-2020

India exports a large amount of marine products to various countries. During the financial year 2016-17, exports of marine products reached all-time high and recorded a growth of 24.49% in rupee earnings, as compared to the previous year. However, barely 5% of India's seafood exports are in the processed form; most exports are in the form of frozen seafood. Approximately, half of the seafood revenue comes from the export market and the rest from domestic. The tastes and habits of the consumers in India are changing, especially in seafood. Previously, seafood was majorly consumed in the coastal regions of India. However, it is now becoming popular across all the regions, even in interior. This scenario gives indication of the better growth of domestic seafood industry. The young generation prefers ready to cook and ready to eat seafood due to its cooking convenience. Thus, customers have started accepting seafood products like fish, prawns, etc. in the frozen form due to its good quality and availability throughout the year. However, per capita consumption in India still remains extremely low as compared to other countries. According to "India Frozen Prawns Market Overview, 2017-2020", frozen prawns maintained its position as the top item of export, accounting for 38.28% of the total seafood exports by volume in 2016-17. In the packaged frozen prawn's category, less than 2% of the revenues come from domestic market. However with the rising consumption of frozen prawns in India, the domestic market is expected to grow robustly in the coming three years. India frozen prawns market consists of players like West Coast Fine Foods (Cambay tiger), Al Kabeer, Apex Frozen Food, Avanti Frozen Food, Forstar, Gadre Marine Export, IFB Agro, Innovative Foods and ITC Limited. There are two end users for the domestic market viz. Retail and Horeca. Frozen prawns come in four types of size like small, medium, large and jumbo. Small frozen prawns are popular in the domestic market due to their high demand in retail as well as Horeca segments. In terms of production of prawns, Andhra Pradesh tops the chart followed by West Bengal and Tamil Nadu. The Government of India has focussed on various policy initiatives in infrastructure and tax system including cold chain industry and frozen seafood exports. A lot of government initiatives have led to a drastic improvement in the supply chain network and cold chain facilities in India. After the implementation of GST, frozen seafood's have been quoted under 5% tax slab. With the government relaxing custom duties on machinery and transport equipment that is associated with frozen seafood, the cost of supply chain operation would come down and this will in turn invite more national and international brands to enter various products categories. Since the industry is still in its nascent stages, frozen prawns are expected to lead the growth in constant values sales over the forecast period. “India Frozen Prawns Market Overview, 2017-2020” discusses the following aspects of frozen prawns in India: How it will help solving your strategic decision making process?? The report gives an in-depth understanding of frozen prawns market in India: - India Seafood Market Outlook - India Seafood Market Size By Value & Forecast - India Seafood Production By Volume - India Fresh Prawns Market Size By Value & Forecast - India Fresh Prawns Market Size By Volume & Forecast - India Frozen Prawns Market Size By Value & Forecast - India Frozen Prawns Market Size By Volume & Forecast - India Domestic Frozen Prawns Market Size By Value & Forecast - India Domestic Frozen Prawns Market Size By Volume & Forecast - India Domestic Frozen Prawns Market Segmental Analysis: By Company, By Region, By End User, By Size of Prawns, By Prawns Type, By Packaging Type - The key vendors in this market space This report can be useful to Industry consultants, manufacturers and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry. Report Methodology The information contained in this report is based upon both primary and secondary research. Primary research included interviews with various channel partners of seafood and frozen prawns in India. Secondary research included an exhaustive search of relevant publications like company annual reports, financial reports and proprietary databases.