The Pelagic Fish Market in Vietnam exhibited notable volatility from 2014 to 2023, with fluctuations driven by variable year-on-year changes. In 2023, the market stood at 246.01 thousand metric tons, showing a modest 1.95% growth from 2022 and a CAGR of 2.43% over the last five years. Highlighting key historical trends, the market surged by 51.62% in 2016, but faced a sharp decline of 14.49% in 2017. Between 2018 and 2019, it had a relatively steady growth period, followed by a dip in 2020 (-15.17%). From 2020 to 2021, upticks were observed, followed by a stabilization in 2023.
Future trends to watch for include the estimated forecasted market size reaching 269.88 thousand metric tons by 2028, driven by a projected five-year CAGR of 1.51%. Factors influencing this growth may encompass improvements in fishing technology, conservation efforts, and shifts in consumer demand patterns. Monitoring these will be crucial for stakeholders aiming to capitalize on market dynamics.