Key Market Indicators
Madagascar's fish production is projected to reach approximately 16,300 metric tons by 2028, a slight increase from its current level of 16,250 metric tons in 2023. This represents a stagnant growth rate of 0% per year on average. Notably, since 1981, the country's fish supply has seen a steady annual increase of 4.9%. In contrast, fish consumption in Madagascar is expected to decline. By 2028, consumption is forecasted to decrease to around 12,900 metric tons, down from 15,030 metric tons in 2023. This marks a compound annual growth rate (CAGR) decrease of 2.4% per year. Since 2019, the demand for fish in Madagascar has been diminishing at a rate of 2.6% annually. In 2023, Madagascar ranked 103rd globally in fish consumption, with Hungary surpassing it at 15,030 metric tons. Leading the global rankings were Japan, the Philippines, and Thailand, occupying the second, third, and fourth positions respectively.
