The production of fishing and aquaculture in Mexico has shown a robust upward trend from 2013 to 2023, with a few years of stagnation and a notable decline in 2020 due to potential impacts from external factors such as the COVID-19 pandemic. Production stood at 57.93 billion Mexican Pesos in 2023. The year-on-year variation for 2023 was 3.62%, indicating marginal growth compared to the previous year. The Compound Annual Growth Rate (CAGR) over the last five years was 4.07%, highlighting steady growth in the industry's value.
Looking forward, the forecasted data up to 2028 suggests a continuation of this growth trajectory but at a slightly lower pace, with a forecasted five-year CAGR of 2.65%, resulting in an overall forecasted growth rate of 13.98% by 2028. This reflects a cautious optimism in the sector's development.
Future trends to watch for:
- Technological advancements in aquaculture practices that could improve efficiency and yields.
- Policy changes or government incentives aimed at boosting the sector.
- Potential environmental challenges such as climate change impacts on marine ecosystems.
- Shifts in consumer demand towards sustainable and eco-friendly seafood products.
