From 2014 to 2023, the demand for crustaceans in China increased from 6.0 to 6.88 million metric tons, showing an overall upward trend. Notable fluctuations include a significant drop in 2020, followed by a robust recovery in 2021. The CAGR over the last five years stands at approximately 0.71%, indicating a steady growth rate, despite annual variations.
In 2023, the demand reached 6.88 million metric tons, with a year-on-year growth of 0.7%. The forecasted CAGR for the next five years suggests an average annual increase of 0.57%, culminating in a 2.86% total growth by 2028.
Future trends to watch for include potential impacts of environmental regulations, advancements in aquaculture technologies, and shifts in consumer preferences towards sustainable seafood options. These factors may influence the stability and growth pace of China’s crustacean market.
