Market opportunity for thermal processed seafood in India

Abstract

Thermal processing is an age old well established food preservation technology. The Indian seafood canning industry, once at its boom has collapsed due to non-availability of suitable cheaper containers and competition from other countries. The development of domestic market is very essential to sustain the growth and development of this industry. In recent years there is an increasing demand for convenience products in India due to modernization of the country with supermarkets and hypermarkets across urban places. The demand is also expected to increase due to population growth and increasing disposable income. Market size of canned seafood in India is very small and highly fragmented compared to frozen seafood sector. However, its demand is increasing with retail sales expected to register an increase from Rs 7.38 crores during 2007 to Rs 24.78 crores during 2017. Canned crab is the most consumed product in India followed by shellfishes and tuna. Creating consumer awareness regarding the advantages of canned seafood is essential for the sustainable growth of this industry. Availability of alternative containers like tin-free steel cans, retortable pouches, semi-rigid containers along with the recent Government policy initiatives like developing infrastructures , private participation with 100 per cent FDI and joint ventures with global players is expected to augment the growth of seafood canning industry in India.