Key Market Indicators
Japan's fish production is projected to decline to approximately 873,000 metric tons by 2028, down from around 939,000 metric tons in 2023. This represents an annual decrease of about 1.2% in compound annual growth rate (CAGR). Historical data since 1965 reveals a consistent annual decline of 1.9%. In terms of fish consumption, Japan is expected to see a slight drop to 1,710,000 metric tons by 2028 from its current level of 1,740,000 metric tons in 2023. This marks a modest annual decrease of 0.2% on average. Since 2019, Japanese demand for fish has been shrinking at an annual rate of 0.3%. In 2023, Japan ranked second in global fish consumption, trailing behind Indonesia, which consumed the same amount of 1,740,000 metric tons. Following Japan, the Philippines and Thailand secured the third and fourth positions, respectively.
