The forecast for fish meal domestic consumption in Australia shows a slight decrease from 2024 to 2028. Consumption is expected to be stable from 2025 onwards, with a consistent value of 29.0 thousand metric tons each year. It is crucial to note that in 2023, actual consumption stood at 30.0 thousand metric tons. The year-on-year variation indicates a decline of approximately 3.33% from 2023 to 2024. There is no variation from 2025 to 2028, suggesting a stable demand post-2024. The compound annual growth rate (CAGR) outlining the average annual variation over the five years shows a slight negative trend.
Future trends to watch for include potential shifts in the aquaculture industry, changes in dietary preferences impacting fish meal demand, advancements in fish meal alternatives, and regulatory changes related to fisheries and fish meal production. Monitoring these factors will be essential in forecasting future demand accurately.
