India Aquaculture Feed Market Size, Share & Forecast, By Species, Feed Form & Distribution Channel, 2026–2031

The India Aquaculture Feed Market was valued at USD 3,250 million in 2025. The estimate covers commercially sold compound aquaculture feed used by shrimp, carp, pangasius, tilapia and other farmed aquatic species, while excluding farm-made feed and unrelated animal-health products sold separately. Market value reflects approximately 6.80 million metric tonnes of commercial feed at a blended average selling price of about USD 478 per metric tonne. Marine shrimp feed remains the largest premium revenue pool, while freshwater fish feed contributes the main volume-expansion opportunity.

The market is forecast to reach USD 4,831 million by 2031, representing a CAGR of 6.83% during 2026-2031. Commercial feed volume is projected to rise to 8.85 million metric tonnes as compound-feed use expands across inland aquaculture and intensive coastal farming. Value growth will also reflect a gradual increase in the blended selling price to approximately USD 546 per metric tonne. Functional nutrition, extruded floating pellets, disease-management products and stronger farmer advisory models are expected to support growth above the projected increase in physical feed volume.

Profit pools will progressively shift toward extruded freshwater feed, nursery diets, functional shrimp nutrition and integrated technical services. Shrimp feed is expected to remain the largest premium category, but its revenue share is projected to decline from 41.0% in 2025 to approximately 38.0% by 2031 as carp, pangasius and tilapia feed grow faster. The blended selling price is expected to increase from USD 478 to USD 546 per metric tonne, indicating that formulation quality, feed-conversion performance and health benefits will become more important sources of margin expansion.

The most material operating risk is the interaction between ingredient-cost volatility and weak farm economics. Feed accounts for approximately 50-60% of shrimp-farming operating cost, limiting the ability of manufacturers to pass through higher fishmeal, soybean meal, maize and energy expenses. Disease compounds the pressure by reducing survival and interrupting stocking cycles. EHP alone is associated with estimated annual losses of INR 4,000 crore in Indian shrimp farming. Manufacturers must therefore balance procurement discipline with formulations that improve digestibility, survival and feed-conversion performance.

India ranks second by estimated 2025 market value among the selected peer countries, behind China and ahead of Vietnam, Indonesia and Bangladesh. China's market is substantially larger at approximately USD 21,220 million, while Vietnam is estimated at USD 2,700 million. India's forecast CAGR of 6.83% exceeds China's 3.90% rate but is below Vietnam's 8.30%. India's competitive position is supported by a large inland-fisheries base, premium shrimp exports, domestic feed manufacturing and an extensive dealer and farmer-advisory ecosystem.

The strongest structural driver is the continued expansion and commercialization of India's aquaculture output. Total fish production reached an estimated 19.77 million metric tonnes in FY2024-25, including 15.16 million metric tonnes from inland sources. Government programmes have supported hatcheries, ponds, feed mills, biofloc systems, cages, cold chains and farmer formalization. The resulting shift from extensive feeding and farm-made mixtures toward scientifically formulated diets increases feed penetration, improves production predictability and creates recurring demand for technical support, water-stable pellets and species-specific nutrition.