DUBLIN--(BUSINESS WIRE)--The "India Frozen Prawns Market Outlook, 2020" report has been added to Research and Markets' offering.
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.
Market Trends and Developments
- Spreading Out of Modern Retail Formats
- Young Population Seeking Convenience and Novelty
- Increasing Demand of Seafood in HoReCa Segment
- Rising Consumer Preferences for Frozen Non-Vegetarian Products
- Major Non-vegetarian Population in India
Key Topics Covered:
1. Executive Summary
2. Global Seafood Market Outlook
3. India Seafood Market Outlook
4. India Fresh Prawns Market Outlook
5. India Frozen Prawns Market Outlook
6. Trade Dynamics
7. India Economic Snapshot
8. Overview of Cold Chain Industry
9. PEST Analysis
10. Policy and Regulatory Landscape
11. India Frozen Prawns Market Dynamics
12. Market Trends and Developments
13. Competitive Landscape
14. Strategic Recommendations
Companies Mentioned
- Al Kabeer Exports Private Limited
- Apex Frozen Food Limited
- Avanti Frozen Food Private Limited
- Britto Seafood Exports Private Limited
- Forstar Frozen Food Private Limited
- Gadre Marine Export Private Limited
- IFB Agro Industries Limited
- Innovative Foods Limited
- ITC Limited
- West Coast Fine Foods (India) Private Limited
For more information about this report visit https://www.researchandmarkets.com/research/73g647/india_frozen
