Analysis of the pelagic fish feed market in Mexico indicates a steady volume growth from 14.05 thousand metric tons in 2014 to 19.25 thousand metric tons in 2023. This represents a compound annual growth rate (CAGR) of 1.44% over the last five years, reflecting moderate and consistent market expansion.
Year-on-year variation reveals fluctuations, with a significant spike of 32.06% in 2017, stabilizing to a more consistent average increase of around 1.64% in 2023. The market dipped notably by 3.9% in 2016 but has shown recovery and growth onset afterward.
Considering forecast data, the market is expected to grow to 20.73 thousand metric tons by 2028, with a forecasted five-year CAGR of 1.17%. This indicates a somewhat decelerated but continued positive growth trajectory.
Future trends to watch for:
- Technological advancements in fish feed production.
- Fluctuations in pelagic fish populations affecting raw material availability.
- Regulatory changes concerning fish farming and feed quality standards.