In 2023, the volume of pelagic fish feed in Japan stood at 1.21 million metric tons. Forecasts from 2024 indicate a steady decline in volume, starting at 1.19 million metric tons and decreasing to 1.09 million metric tons by 2028. This downward trend represents a year-on-year decrease of 1.68% from 2023 to 2024, maintaining an average annual reduction of approximately 1.65% according to the compound annual growth rate (CAGR) over the five years.
Future trends to watch for:
- Potential changes in fish farming practices and feed efficiency improvements.
- Environmental regulations impacting the production and use of fish feed.
- Advances in alternative protein sources which may affect demand for traditional pelagic fish feed.
