From 2013 to 2023, the seafood market in Germany experienced several fluctuations, with the volume peaking in 2014 at 749.09 Million Kilograms and then generally declining. By 2023, the market reached 513.85 Million Kilograms, with a consistent downward trend observed in the recent years. Notably, the year-on-year variation from 2021 to 2023 shows a continued negative trend, with -10.15%, -4.3%, and -4.65% respectively. The Compound Annual Growth Rate (CAGR) over the last 5 years up to 2023 stands at -4.42%.
Looking ahead from 2024 to 2028, a further decline is forecasted, with the volume expected to drop to 392.24 Million Kilograms by 2028. The five-year forecasted CAGR is -4.32%, indicating a continued downward trajectory with an overall decline of approximately -19.79% during this period.
Future trends to watch for include:
- Consumer preferences shifting towards sustainability and locally sourced food, which may impact seafood demand.
- Potential regulatory changes regarding fishing quotas and environmental protections.
- Technological advancements in aquaculture that could influence market dynamics.
