The production of crustaceans in Argentina exhibited a significant rise from 2014 to 2023, escalating from 130.8 Thousand Metric Tons in 2014 to 288.85 Thousand Metric Tons in 2023. This represents a growth of almost 120.8% over the span of nine years. The year-on-year variation for 2023 stood at 3.22%, with a compound annual growth rate (CAGR) of 3.29% over the last five years.
Key Trends:
- 2015: Marked by a 12.81% growth.
- 2016: Experienced a sharp increase of 22.71% year-on-year.
- 2017: Notable peak with 35.71% growth.
- 2018: Stagnated with no growth.
- 2019: A modest growth of 2.44%, following the peak years.
- 2020: Declined by -13.84%, potentially indicating market disruptions.
- 2021: Rebounded with an 18.57% increase.
- 2022: Continued positive trend with an 8.84% growth.
- 2023: Growth moderated to 3.22%.
Future projections indicate a steady rise with the production expected to reach 335.1 Thousand Metric Tons by 2028, translating to a 12.53% cumulative growth over the next five years with a forecasted CAGR of 2.39%.
Future Trends to Watch For:
- Potential impacts of climate change on crustacean habitats and yields.
- Technological advancements in aquaculture and fisheries management.
- Market demand fluctuations driven by global seafood consumption trends.
- Regulatory changes affecting sustainable fishing practices.
