Between 2014 and 2023, Indonesia's pelagic fish feed market showcased significant fluctuations. The actual volume in 2023 stood at 369.59 thousand metric tons. Notable trends included a dramatic drop in 2015 by -21.29% and a robust recovery in 2017 with a 71.25% increase. From 2018 onward, the market saw consistent, albeit modest, growth with year-on-year variations ranging from 1.79% to 2.01%. Over the past five years, the Compound Annual Growth Rate (CAGR) was 1.25%.
Looking forward, forecasted data suggests a steady growth trajectory from 2024 to 2028, with an average annual growth rate (CAGR) of 1.26%, leading to a cumulative growth of 6.44% by 2028. Key trends to watch for include advancements in feed technology, regulatory shifts, and the potential impact of climate change on fish populations.
