The pelagic fish feed market in Denmark has shown a consistent downward trend from 2014 to 2023, with a significant decline in volume from 10.35 thousand metric tons in 2014 to 3.61 thousand metric tons in 2023. The year-on-year variation indicates frequent reductions, most notably in 2016 and 2017, where the market saw declines of 20.85% and 30.05%, respectively. From 2018 to 2023, the decline continued at an average CAGR of -7.98%. In 2023, the volume stood at 3.61 thousand metric tons, dropping by 9.52% compared to the previous year.
Looking ahead, forecasts predict a continued decline with the volume decreasing to 1.61 thousand metric tons by 2028, averaging a five-year CAGR of -12.78% and an overall reduction of 49.53% from 2023 figures. Future trends to watch for include potential impacts of regulatory changes, shifts in aquafeed formulation preferences, and advancements in alternative protein sources which could affect demand for traditional pelagic fish feed.
