Based on the data, Brazil's crustaceans demand stood at 109.03 thousand metric tons in 2023, showing a slight year-on-year decrease of 0.97%. Over the past decade, the demand has shown significant fluctuations, peaking in 2015 and hitting a low in 2020. From 2014 to 2023, the compound annual growth rate (CAGR) was -1.98%, indicating an overall declining trend. Over the past five years, however, the CAGR improved slightly to -0.98%, suggesting a stabilization in the negative trend.
Looking forward, the forecast for the next five years to 2028 suggests a continued but moderated decline with a forecasted CAGR of -0.82%, resulting in a total decrease of about 4.02% from 2024 to 2028. This slowdown in decline may reflect efforts to stabilize the market.
Future trends to watch for include potential shifts in consumer preferences due to health and sustainability concerns, policy changes affecting the fishing industry, and the impact of climate change on crustacean populations, which could significantly influence demand in both the short and long term.
