Key Market Indicators
**Russia's Fish Production to Surge, Consumption to Dip by 2028** Russia's fish production is projected to see substantial growth over the next five years. According to recent data, production is set to increase from approximately 349,000 metric tons in 2023 to around 419,000 metric tons by 2028. This represents an average annual growth rate of 2.9%. The sector has shown robust expansion since 1997, with supply rising at an impressive annual rate of 11.3%. Conversely, fish consumption in Russia is expected to decline over the same period. Current forecasts indicate a drop from about 697,000 metric tons in 2023 to roughly 639,000 metric tons by 2028, marking an average annual decrease of 1.3%. This trend is consistent with the pattern observed since 2019, where demand has decreased annually by 1.7%. In the global context, Russia ranked seventh in fish consumption in 2023. South Korea led the pack with an equivalent consumption figure of around 697,000 metric tons. Following closely were Japan, the Philippines, and Thailand, occupying the second, third, and fourth positions, respectively.
