The turnover of the retail aquatic products market in China has exhibited significant fluctuations over the past decade. After a notable peak in 2015, the market faced a downward trend, reaching its lowest point in 2021. However, a significant recovery is evident from 2022 onwards, with the turnover value standing at 163.29 hundred million yuans Renminbi in 2023. Year-on-year variations show a recovery of 52.4% in 2022 and a modest growth of 3.17% in 2023. The last five years' CAGR of 0.37% indicates a period of stabilization and slight growth.
Future trends to watch for include:
- Sustainability: Increasing consumer preference for sustainably sourced aquatic products.
- Technological Integration: The adoption of technology in retail operations for better inventory management and customer engagement.
- E-commerce Growth: Continued shift towards online retail platforms and digital transformation in the aquatic products sector.
- Health and Wellness: Rising demand for healthier and organic aquatic food options.