Key Market Indicators
Ecuador's fish production is on a robust growth trajectory, with projections indicating it will reach approximately 1.6 million metric tons by 2028. This marks a significant increase from the estimated 1.1 million metric tons in 2023, reflecting a compound annual growth rate (CAGR) of 5.9%. Since 1974, the country's fish supply has shown a remarkable annual increase of 13.7%, underscoring the sector's long-term expansion. In contrast, fish consumption in Ecuador is expected to decline. Projections suggest that consumption will decrease to roughly 44,000 metric tons by 2028, down from about 50,000 metric tons in 2023. This represents an average annual decrease of 1.8% since 2019, when the demand began to fall by 2% year on year. In 2023, Ecuador ranked 62nd in global fish consumption. Oman surpassed Ecuador with nearly 50,000 metric tons. Leading the rankings were Japan, the Philippines, and Thailand, occupying the second, third, and fourth positions, respectively.
