Key Market Indicators
Norwegian Fish Production is projected to reach approximately 2.1 million metric tons by 2028, up from about 1.8 million metric tons in 2023, reflecting a compound annual growth rate (CAGR) of 2.4%. This trend continues a long-term growth pattern, with supply increasing by 5.5% annually since 1965. In the global rankings for fish production in 2023, Norway secured the 7th spot. The Philippines surpassed Norway with a production level matching Norway's 1.8 million metric tons. Topping the list were Indonesia, India, and Bangladesh, respectively occupying the 2nd, 3rd, and 4th positions. Meanwhile, Norwegian Fish Consumption is expected to reach around 34.8 thousand metric tons by 2028, up from roughly 33 thousand metric tons in 2023. This marks a CAGR of 0.9%. Since 2019, the demand for fish in Norway has grown at an annual rate of 1.1%.
