From 2014 to 2023, Chile's production of crustaceans decreased from 39.81 to 31.52 thousand metric tons, showing a negative trend overall. The year-on-year variations over this period indicate certain fluctuations, with significant drops in 2019 and 2020 (down by 1.42% and 18.19%, respectively). The CAGR over the last five years stands at -1.42%, signaling an average annual decline.
Transitioning to the forecasted period (2024 to 2028), the crustacean production in Chile is predicted to further decline. The forecasted CAGR for the next five years is -1.22%, projecting a reduction to 29.08 thousand metric tons by 2028.
Future trends to watch for include fluctuations due to environmental changes, policy impacts on fishing quotas, and advancements in aquaculture technology. Additionally, global market demand and competitive pressures may also influence production volumes.
