The sold production of edible fish flours, meals, and pellets in Denmark has shown a general upward trend from 2013 to 2023, despite some fluctuations. In 2023, it stood at 3.0481 million euros. The most significant growth occurred between 2013 and 2015, followed by a minor downturn in 2016. Since 2017, the trend has stabilized with moderate year-on-year increases except for a slight decline in 2020. Over the past two years, the growth rates have been relatively stable, with an average annual increase (CAGR) of approximately 1.24% from 2018 to 2023.
Looking forward to the forecasted period from 2024 to 2028, the expected CAGR is 0.92%, indicating a deceleration in growth. By 2028, the production value is anticipated to reach around 3.2304 million euros, representing a cumulative growth of 4.67% over the next five years.
Future trends to watch for include:
- Technological advancements in fish processing and production efficiency
- Regulatory changes impacting the sustainability and environmental footprint of fish meal production
- Shifts in global fish demand influencing export markets and production levels in Denmark
- Potential impacts of climate change on fish populations and raw material availability
