The crustaceans market in Chile, expressed in volume and measured in thousand metric tons, highlights a trend of gradual decline. In 2023, the market volume stood at 39.26 thousand metric tons. Observing the year-on-year variation over the last two years, a slight decline of 0.23% is noted in 2023, following a similar trend of -0.23% from the previous year. The Compound Annual Growth Rate (CAGR) over the last five years stood at -0.21%, indicating a modest downward trajectory in market volume.
Key historical trends include notable drops such as the 17.21% decrease in 2020, which was followed by a recovery phase with a 14.2% increase in 2021 and a 5% increase in 2022. However, the market faced a continued slight downturn in 2023. The forecasted data suggests a continuous, albeit slight, decline with a forecasted 5-year CAGR of -0.18%, predicting the market volume to decrease to 38.67 thousand metric tons by 2028.
Future trends to watch for include potential impacts of global seafood demand fluctuations, climate change effects on marine life, regulatory changes affecting the fishing industry, and technological advancements in aquaculture. Monitoring these factors will be essential for understanding the market's trajectory and identifying opportunities for growth or risk mitigation.
- In 2023, the market volume of crustaceans in Chile was 39.26 thousand metric tons.
- Year-on-year variation in 2023 was -0.23%.
- CAGR over the last five years was -0.21%.
- Future forecasts show a continued slight decline to 38.67 thousand metric tons by 2028.
- Future trends to monitor include global seafood demand, climate change, regulatory changes, and advancements in aquaculture.
