Fisheries exports in the US saw significant variations over the years, peaking at $6.07 billion in 2017 before experiencing a downward trend to $4.15 billion in 2020. Recent years show a recovery with a value of $5.30 billion in 2023, marking a year-on-year increase of 4.06%. The last two years indicate a stabilizing growth, with a year-on-year rise of 6.28% in 2022 and 4.06% in 2023. The Compound Annual Growth Rate (CAGR) over the past five years stood at -0.7%, reflecting the industry's gradual recovery. Future forecasts suggest a steady increase, reaching $5.38 billion by 2028 with a forecasted 5-year CAGR of 0.22% and an annual growth rate of 1.12%.
Future trends to watch for include potential impacts of regulatory changes, advancements in sustainable fishing practices, and evolving consumer preferences towards eco-friendly products. Additionally, global market dynamics including trade policies and competition from other exporting countries may influence future growth.
