The demersal fish feed market in Spain has shown significant fluctuations over the past decade. The value peaked in 2014 at 97.06 Thousand Metric Tons, experiencing a sharp decline in 2015 with a year-on-year drop of 51.83%. Recovery followed, with 2016 showing a 44.17% increase. From 2018 to 2023, the market saw a consistent decline, with a compound annual growth rate (CAGR) from 2018 to 2023 of -3.36%. The value stood at 57.93 Thousand Metric Tons in 2023.
Year-on-year variations further show a declining trend, with 2022 seeing a -3.02% change and 2023 experiencing a -3.05% change. The average annual variation over the last five years (2018-2023) presents a CAGR of -3.36%.
Moving forward, the forecasted data from 2024 to 2028 suggests a continuing downward trend. The five-year forecast indicates a CAGR of -2.84%, leading to a projected value of 48.43 Thousand Metric Tons by 2028. This represents a 13.41% decrease over the period.
Future trends to watch for include changes in environmental regulations, advancements in feed technology, and shifts in consumer demand for sustainably farmed demersal fish, which might influence the market dynamics.
