Fish farming production in Malaysia has experienced significant fluctuations over the past decade. Between 2013 and 2016, production saw a notable decline with severe drops, particularly in 2016 when it fell by 19.54%. From 2017, a partial recovery began, stabilizing the industry with moderate ups and downs. As of 2023, the industry stood at 419.94 thousand metric tons, illustrating slight growth. Over the last two years, the year-on-year variations have shown minimal changes at around 0.35% and 0.36% for 2022 and 2023 respectively. The recent five-year CAGR sits at 1.39%, indicating a slow but steady growth. The forecast for the next five years shows a continued marginal increase, estimating a 0.28% CAGR up to 2028.
Future trends to watch for: - Innovations in sustainable aquaculture practices - Impact of climate change on fish farming productivity - Government policies and support for the aquaculture sector - Market demand fluctuations for seafood products - Technological advancements in fish farming techniques
