The pelagic fish feed market in Brazil has experienced a steady decline from 2014 to 2023, dropping significantly from 110.42 thousand metric tons in 2014 to 25.83 thousand metric tons in 2023. The year-on-year variation reveals substantial drops, with notable decreases in 2015 (-29.34%) and 2016 (-44.53%), followed by smaller but consistent declines, except for a slight increase in 2017 (+16.36%) and a stable year in 2018 (0%). By 2023, the year-on-year decrease stood at -14.58%, with the compounded annual growth rate (CAGR) over the last five years at -12.5%.
Moving forward, the forecast indicates a rapid decline, with expected values reaching as low as 2.8 thousand metric tons by 2028. Over the forecast period from 2024 to 2028, the market's CAGR is predicted to be -33.16%, signifying a severe contraction in demand for pelagic fish feed in Brazil.
Future trends to watch for include potential shifts in regulatory policies, advancements in alternative fish feed technologies, and changes in aquaculture practices. Monitoring these factors could provide insights into whether the current declining trend will persist or if new developments might stabilize or revive the market.
