The aquaculture sector in Malaysia has experienced fluctuating revenue trends over the past decade. Notably, there was a significant decline from 2015 to 2016 and again from 2020 to 2021. However, notable growth was observed in 2018 and 2022. As of 2023, the aquaculture revenue stood at 5.53 billion Malaysian Ringgits, representing a year-on-year growth of 3.19%.
The five-year Compound Annual Growth Rate (CAGR) leading up to 2023 was 1.94%, indicating moderate growth. Forecasts suggest a steady increase, with a five-year CAGR of 2.21% from 2023 to 2028, predicting a total growth of 11.57% over this period.
Future trends to watch for include technological advancements in sustainable aquaculture practices, rising demand for quality aquaculture products, and enhanced governmental policies promoting sustainable growth in the sector. The market is expected to continue its upward trajectory with steady revenue increase driven by these factors.
