The freshwater fish market in the US demonstrated fluctuations in volume from 2014 to 2023, peaking at 1.73 million metric tons in 2015 and dipping significantly to 1.36 million metric tons in 2020, before recovering to 1.63 million metric tons by 2023. Key observations include a pronounced decline in 2020 due to the pandemic impact, followed by a notable recovery, yet the overall trend over the last decade has been slightly downward.
Key year-on-year changes highlight significant variations:
- 2015 saw a peak growth of 2.49%.
- 2016 experienced a drop of -3.23%.
- 2020 was the most dramatic decline at -17.21%.
- 2021 rebounded strongly with a 14.17% increase.
- 2022 posted a 5% growth.
- 2023 showed a minor decrease of -0.24%.
The Compound Annual Growth Rate (CAGR) from 2019 to 2023 was -0.22%, indicating a slight decline on average annually. Forecasts suggest a continual marginal decrease with a CAGR of -0.19% from 2024 to 2028, projecting the market volume at 1.6 million metric tons in 2028.
Looking forward, trends to watch for include potential impacts from environmental regulations, technological advancements in aquaculture, and shifts in consumer preferences towards sustainability which may influence market dynamics.
