The turnover of the wholesale aquatic products market in China has demonstrated variable growth over the past decade. The current value stood at 4.29 hundred billion Yuans Renminbi in 2023. From 2013 to 2019, there were frequent fluctuations, marked by peaks and troughs such as the high year-on-year growth of 15.46% in 2019 and the significant drop of 23.68% in 2020, likely due to pandemic-related disruptions. Recent years show relatively stable recovery and growth, with 9.81% in 2023 and a 3.7% CAGR over the last five years.
Year-on-year variation:
- 2022–2023: 9.81%
- 2021–2022: 7.57%
Alongside this, the forecast suggests a continued upward trend, albeit at a modest CAGR of 3.07% over the next five years, expecting the market to reach 5.21 hundred billion Yuans Renminbi by 2028.
Future trends to watch for include the impact of technology and innovation in the supply chain, fluctuations in domestic and international demand, and potential regulatory changes promoting sustainable aquaculture practices.