In 2023, Vietnam's fish meal production stood at 544.0 thousand metric tons. Forecasted data indicates a gradual increase, reaching 555.0 thousand metric tons by 2024 and continuing to rise to 606.0 thousand metric tons by 2028. This represents an average annual growth rate (CAGR) of approximately 2.3% over the five-year period from 2024 to 2028.
Year-on-year percentage increases entail:
- 2024 vs 2023: 2.0%
- 2025 vs 2024: 2.5%
- 2026 vs 2025: 2.3%
- 2027 vs 2026: 2.1%
- 2028 vs 2027: 2.0%
Future trends to watch for include potential shifts in global demand for fish meal, changes in input costs such as raw fish or energy prices, and the impact of environmental regulations on fish meal production in Vietnam.
