Based on the provided data, the crustaceans market in Brazil stood at 108.82 thousand metric tons in 2023. Over the years, the market has experienced fluctuations, with a notable drop of 17.67% in 2020, followed by a recovery phase highlighted by a 13.55% increase in 2021 and a 4.43% increase in 2022. However, the market experienced a slight decrease of 0.78% in 2023. The compound annual growth rate (CAGR) over the past five years (2019-2023) was -0.81%, indicating a slight downward trend.
Future trends to watch for:
- The market is expected to continue experiencing mild declines, with the forecasted CAGR for the next five years (2024-2028) at -0.65%.
- A projected overall market size decrease of 3.2% by 2028 suggests minor but consistent contraction, possibly due to changing consumer preferences or environmental factors affecting supply.
