In 2023, Vietnam's fish meal domestic consumption stood at 404.0 thousand metric tons. Based on the forecasted data, consumption is expected to increase slightly year-on-year from 2024 through 2028, with annual values as follows: 405.0 in 2024, 406.0 in 2025, 407.0 in 2026, 408.0 in 2027, and 409.0 in 2028.
Year-on-year variation percentages indicate minimal growth: - 2024: 0.25% increase - 2025: 0.25% increase - 2026: 0.25% increase - 2027: 0.25% increase - 2028: 0.25% increase
The compound annual growth rate (CAGR) over the five-year period from 2024 to 2028 averages about 0.25% per year. This suggests steady but very modest growth in the domestic consumption of fish meal in Vietnam.
Future trends to watch for include potential shifts in the aquaculture and livestock industries, changes in government policies affecting fish meal production and importation, and global market conditions that could influence supply and demand dynamics. Technological advancements in fish meal alternatives may also impact future consumption rates.
