Between 2014 and 2023, Malaysia's crustacean demand witnessed a consistent decline from 181.33 to 129.75 thousand metric tons, with some fluctuations observed mid-period. The most significant year-on-year variations occurred in 2020 with a sharp decline of -18.79% and in 2021 with an 11.99% increase. Over the last five years, the average annual decrease was -2.07% (CAGR). Forecasted data from 2024 to 2028 indicate a continued downward trend, with an average forecasted annual decrease of -1.94% and a total reduction of 9.34% by 2028.
Future trends to watch for:
- Impact of environmental policies on fishing activities
- Changes in consumer preferences towards sustainable seafood
- Influence of economic conditions on seafood consumption
- Technological advancements in aquaculture impacting supply
