Key Market Indicators
Filipina Fish Production is projected to decline to approximately 2.07 million metric tons by 2028, down from around 2.21 million metric tons in 2023. This represents an annual decrease rate of 1.1%. Historical data since 1965 shows a consistent annual reduction in supply by 0.8%. In the global rankings for fish production in 2023, the Philippines held the sixth position, with South Korea slightly ahead at around 2.21 million metric tons. Leading the list were Indonesia, India, and Bangladesh, occupying the second, third, and fourth spots, respectively. Meanwhile, fish consumption in the Philippines is also expected to see a downturn. By 2028, consumption is forecasted to reach 1.05 million metric tons, down from 1.15 million metric tons in 2023. This indicates a compound annual growth rate (CAGR) decline of 1.5%. Since 2019, the demand for fish in the Philippines has been decreasing at an annual rate of 1.4%.
