According to a new research report by RNCOS entitled, “India Commercial Fishfeed Market Outlook 2022”, the commercial fishfeed has gained huge popularity in past couple of years due to its attractive health benefits for fish and rapid production. The major growth drivers of the industry are strong government support, introduction of modern feed techniques and high demand for fish products.

India is the second largest country in the world in terms of aquaculture production after China. Fishery in India is an important economic activity and has been a flourishing sector with varied resources and potentials. In recent years, the consumption of fish in the country has seen a gradual increase, making India one of the major producers of fish. Fish in is consumed in various varieties and forms in almost all regions of India.

Lakshadweep tops in the fish consumption followed by Goa, Kerala and West Bengal. The main areas of consumption for freshwater fish are West Bengal, Bihar, Odisha and North-Eastern India. There has been an enormous increase in production, consumption and exports of fish and fish products that have catalysed the Indian fishfeed market.

The Indian carps which are commercially cultured in India contribute a bulk of production in total fish production. With the growth in the production of cultured fish, the demand for fishfeed is increasing in the country as constant feeds at appropriate intervals is needed to be given to the cultured fish to maintain the health and nutritional value. Thus, a growth in the number of fish species in the country is bound to increase the consumption of fishfeed (especially commercial fishfeed as they are more nutritious) in the coming years.

Also, production of fishfeed in India is gaining momentum due to the increased initiatives taken by the government to promote the development of Indian fishery industry. The subsidies and assistance provided by the government for development of fishfeed industry has been driving its growth. Both the Central and the State Government have undertaken several policy initiatives and measures to boost the growth of fisheries industry of India.

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