The crustacean production in South Africa has been steadily declining from 2014 to 2023. In 2014, the production was at 2.55 thousand metric tons and it saw a significant drop by 2023, where it stood at 1.43 thousand metric tons. This indicates a shrinking industry with a compounded annual growth rate (CAGR) of -3.96% over the last five years. The most notable year-on-year decreases were in 2016 (-18.8%) and 2020 (-20.44%), pointing towards periods of acute production challenges.
From 2024 onwards, the forecast suggests a continued downward trend, with a forecasted average CAGR of -4.04% over the next five years. By 2028, the production volume is expected to drop further to 1.1 thousand metric tons, which represents an 18.62% decline from 2023's levels.
Future trends to watch for:
- Potential impact of climate change on marine ecosystems and crustacean habitats.
- Developments in aquaculture technology and sustainable fishing practices.
- Changes in local and international demand for crustaceans.
