In 2023, the crustaceans market in Spain stood at 159.74 thousand metric tons. The market exhibited notable fluctuations from 2014 to 2023, with a significant dip observed in 2020 due to a year-on-year decline of 17.29%. Though the market partially rebounded with a growth of 14.07% in 2021, it experienced a modest decline of 0.32% in 2023.
Over the last five years, the compound annual growth rate (CAGR) was -0.4%, indicating a gradual decrease in market size. Significant drops in 2015 and 2020 were key contributors to this downward trend.
Looking ahead, the forecasted crustaceans market size is expected to decline further, with a CAGR of -0.26% from 2024 through 2028, leading to a cumulative shrinkage of 1.31% during this period.
Future trends to watch for include potential impacts from economic recovery, changes in consumer preferences, sustainability concerns, and innovations in aquaculture technology that might revitalize market dynamics.
