Between 2014 and 2023, the demand for crustaceans in Chile has generally shown a declining trend, with some fluctuations. The demand decreased from 41.11 thousand metric tons in 2014 to 40.05 thousand metric tons in 2023, translating to a year-on-year decrease of -0.15% and a compound annual growth rate (CAGR) of -0.14%. Significant drops occurred in 2020 due to a decline of -17.14%, influenced by the global pandemic. A recovery was observed in 2021 with a 14.29% increase year-on-year. However, the recovery was not sustained, leading to a minor decline by 2023.
Looking forward, from 2024 onwards, the forecast points to a continued gradual decline, reaching 39.61 thousand metric tons by 2028, with a forecasted 5-year CAGR of -0.12%.
Future trends to watch for include: potential changes in global seafood markets, economic conditions impacting consumer purchasing power, sustainability efforts affecting crustacean fishing practices, and possible regulatory changes in the seafood industry.
