The forecast for the pelagic fish market size volume per capita in Nigeria from 2024 to 2028 shows a decreasing trend. In 2023, the volume stood at 1.65 kilograms per capita. From 2024 onwards, forecasts indicate a decline year-on-year, with 1.43 kg in 2024, 1.22 kg in 2025, 1.01 kg in 2026, 0.81 kg in 2027, and 0.60 kg in 2028.
Year-on-year variation in percentages:- 2024: -13.33%- 2025: -14.69%- 2026: -17.21%- 2027: -19.80%- 2028: -25.93%
The Compound Annual Growth Rate (CAGR) over these five years is -16.99%, illustrating a significant annual decrease in the market size volume per capita.
Future trends to watch for:- Potential factors contributing to this decline include overfishing, climate change, and economic constraints.- It's crucial to monitor governmental policies on fishing regulations, sustainability efforts, and market interventions to potentially reverse this negative trend.- Additionally, shifts in consumer preferences toward alternative protein sources might also impact pelagic fish consumption rates.
