Aqua Inputs and Supplements Market in India 2021-2026: Industry Share and Forecast
As per the latest report by IMARC Group, the aqua inputs and supplements market in India exhibited strong growth during 2015-2020. Looking forward, the market expects to grow at a CAGR of 14.6% during (2021-2026).
Aqua inputs and supplements are chemicals substances that provide a healthy environment to shrimp by neutralizing the imbalance of minerals and vitamins in soil, water and feed. They also reduce the expenditure incurred during shrimp farming, enabling healthy harvest and higher profit margins. In India, with the rising awareness among farmers about the benefits offered by organic inputs and supplements, there has been a rise in their demand. Farmers utilize them to minimize the negative environmental impact on the animals and develop high-quality shrimp with ‘organic’ status to meet the stringent international certifications.
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Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
India Aqua Inputs and Supplements (for Shrimp) Market Trends:
Over the years, there has been a significant rise in shrimp consumption and export potential in India. This has encouraged farmers to use efficient and improved aqua inputs and supplements to meet the growing shrimp demand. These inputs and supplements help prevent the frequent breakout of disease and reduce the growth of pathogenic organisms. Along with this, the stringent global quality norms have prompted farmers to use commercial aquaculture farm inputs to ensure optimum shrimp health. Besides this, the Government of India is undertaking several initiatives and organizing training programs to promote the use of aqua inputs and supplements across the country. For instance, government bodies, such as the Marine Products Exports Development Authority (MPEDA), is supporting shrimp culture through the cluster farming approach. More than 10,000 farmers have been organized into aqua societies, which help them access credit, quality seeds, feeds and other inputs, thereby reducing the burden of diseases and improving product quality.
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The competitive landscape of the market has been examined,
some of the key players being Bayer CropScience Limited, Biostadt India Limited, C. P. Aquaculture (INDIA) Private Limited, Growel Formulations Pvt. Ltd., Gentle Bio-Sciences Pvt. Ltd., Hi-Tech Pharma, Intas Animal Health, Kemin Industries South Asia Pvt. Ltd, Neospark Drugs and Chemicals Private Limited, Poseidon Biotechnology, PVS Group, Srinivasa Cystine Pvt. Ltd., Sanzyme Biologics, SDC Agro-Vet India Pvt. Ltd., Synergy Biotechnologies and Virbac Animal Health India Private Limited.
Breakup by End-Use:
- Feed and Disease Management
- Water Management
- Soil Management
Based on the end use, the market has been segmented into feed and disease, water and soil management. Amongst these, feed and disease management represent the leading segment, holding the largest market share.
Breakup by Product Type:
- Vitamins and Mineral Supplement
- Growth Promoter
- Oxygen Enhancer
- Liming Material
- Organic/Inorganic Fertilizers
On the basis of the product type, probiotics represent the most popular segment. Other major product types are vitamins and mineral supplements, growth promoters, disinfectants, oxygen enhancers, zeolites, immunostimulants, liming materials and organic/inorganic fertilizers.
Breakup by States:
- Andhra Pradesh
- West Bengal
Region-wise, Andhra Pradesh holds the leading position in the market. Other significant states include West Bengal, Odisha and Gujarat.
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