The share of aquaculture in Australia's National Fish Production has exhibited steady growth, moving from 41.28% in 2013 to 48.41% in 2023. Over the last two years (2022-2023), the year-on-year growth has been modest, averaging around 1.9%. The Compound Annual Growth Rate (CAGR) in the last five years is approximately 1.92%, indicating a consistent but moderate upward trend. Forecasts for the coming years suggest that by 2028, the share will reach 52.58%, with a forecasted five-year CAGR of 1.31%, and a forecasted five-year growth rate of 6.71%.
Future trends to watch for include advancements in aquaculture technology, regulatory changes, and shifts in consumer preferences towards sustainable seafood options. Additionally, external factors like climate change and economic conditions could play significant roles in shaping the future landscape of the aquaculture sector in Australia.
