The demand for pelagic fish in Malaysia has exhibited a downward trend over the past decade. In 2023, the value stood at 628.94 Thousand Metric Tons, marking a decline of 1.07% from the previous year. The year-on-year variations have been mixed, with significant decreases in recent years, including a sharp drop in 2020 by 17.91%. However, there was some recovery in 2021 and 2022 with positive growth rates of 13.21% and 4.13% respectively. The compound annual growth rate (CAGR) over the last five years is -1.13%, indicating a gradual decline.
Future demand for pelagic fish is forecasted to continue declining, with an expected CAGR of -0.91% over the next five years, amounting to an overall decrease of 4.47% by 2028. Important trends to monitor include potential changes in consumer preferences, shifts in fishing policies, and the impact of environmental factors on fish stocks.
