The demand for pelagic fish in Indonesia has shown fluctuating trends from 2014 to 2023, with values ranging from a low of 2.77 million metric tons in 2015 to a high of 3.50 million metric tons in 2023. Notably, there were significant year-on-year variations such as the -14.62% drop in 2015, a 24.33% increase in 2017, and a -16.44% decrease in 2020. Over the past five years, the Compound Annual Growth Rate (CAGR) has averaged at 0.31%.
Key Trends:
- Moderate overall growing trend with significant yearly fluctuations.
- Significant drops in demand in 2015 and 2020.
- Stable and increasing demand post-2021.
Future Trends to Watch For:
The forecasted data indicates a steady increase in demand reaching 3.61 million metric tons by 2028, with an average annual growth rate (CAGR) of 0.51% over the next five years. A growth rate of 2.6% is expected over the same period, suggesting a stable, slow but consistent rise in demand for pelagic fish in Indonesia.
