FISHERIES AND AQUACULTURE INDUSTRY:

The fishing industry refers to any business or activity that involves catching, culturing, processing, preserving, storing, transporting, promoting, or selling fish or fish products. Aqua farming is the farming of fish, crustaceans, mollusks, aquatic plants, and algae. As well as other organisms Commercial fishing, on the other hand, is the collection of wild fish. Aquaculture involves the cultivation of freshwater and saltwater populations under controlled conditions.

KINDS OF AQUACULTURE INCLUDE:

Fish Farming, Shrimp Farming, Oyster Farming, Mariculture, Algaculture (Such as Seaweed Farming), and the Cultivation of Ornamental Fish.

FISH PROCESSING

Fish processing is the process of preparing fish and seafood for consumer consumption. After the fish is gathered, it must go through a series of procedures before it can be sold in the market. The gutting, filleting, and packing of the product are all part of the process. Because fish is such a perishable product, it must be handled with care from the time it is caught until it is wrapped in packaging. Processing and packaging that is done correctly and efficiently prevents deterioration and ensures a high-quality product.

VALUE ADDED FISH PRODUCTS:

Mince and Mince-Based Products, Surimi, Kneaded Products, Fibreized Products, Fish Cutlets, Fish Finger, Fish Burger, Salted Fish Cake, Fish Flour, Breaded Prawns and Fish Sticks, Fish Salads, Fish Cakes, Fish Proteins etc. 

MARINE PRODUCTS:

Fresh fish, Squid, Ribbon fish, Sea shell, Sea cucumber, Fresh prawn, Canned tuna, Marine cable gland etc.

FISHERIES AND AQUACULTURE MARKET IN INDIA:

Indian fisheries and aquaculture is an important sector of food production, providing nutritional security to the food basket, contributing to the agricultural exports and engaging about 14 million people in different activities. With diverse resources ranging from deep seas to lakes in the mountains and more than 10% of the global biodiversity in terms of fish and shellfish species since independence, the country has shown continuous and sustained increments in fish production. Constituting about 6.3% of the global fish production, the sector contributes to 1.1% of the Gross Domestic Product (GDP) and 5.15% of the agricultural GDP.

MARKET SIZE GLOBALLY:

The global market for fisheries and aquaculture is growing at a 5.8% CAGR. Throughout the projected period, the others segment is likely to maintain its dominant position in terms of revenue generation. The Asia-Pacific region dominated the global market and is projected to continue to do so in the future. The market’s largest share belonged to Asia Pacific. This is due to an increase in demand for innovative and cutting-edge aquaculture goods that assist producers produce higher-quality output with less land and increase the efficiency of aquaculture operations. Furthermore, aquaculture sectors in countries like China, India, Vietnam, Indonesia, and Thailand are export-oriented; the aquafarming sector is of primary importance in these countries, with players focusing on technology adoption and automation, which is expected to benefit the market in this region.

TOP KEY PLAYERS WORLDWIDE:

• Maruha Nichiro (Japan)
• Nippon Suisan Kaisha (Nissui) (Japan)
• Goldmarine Exports (India)
• Thai Union Group (Thailand)
• Mowi (Marine Harvest) (Norway)
• BMR Groups (India)
• Mitsubishi Corporation (Japan)
• Dongwon Enterprise (South Korea)
• Red Chamber Group (United States)
• Skretting (Netherlands)
• C Shore Foods (India)