The demand for pelagic fish in Chile has shown significant fluctuations over the past decade, with the volume standing at 613.26 Thousand Metric Tons in 2023. From 2014 to 2023, the market experienced both upswings and downturns, including a notable decline in 2020 (-16.88%) due to external factors possibly linked to global economic disruptions. Year-on-year analysis indicates recovery and stability in the past few years, growing by 0.13% in 2023. The 5-year CAGR from 2019 to 2023 is a modest 0.083%, suggesting slow but steady growth. Looking forward, the market is forecasted to grow at a CAGR of 0.12% over the next five years, reaching 615.65 Thousand Metric Tons by 2028.
Future trends to watch for:
- Environmental factors, such as climate change, affecting fish populations.
- Changes in global trade policies and their impact on export and import dynamics.
- Technological advancements in sustainable fishing and aquaculture.
- Consumer trends towards sustainability and health-conscious seafood choices.
