Based on the data provided, Malaysia's domestic consumption of fish meal is forecasted to increase steadily from 86.0 thousand metric tons in 2024 to 90.0 thousand metric tons in 2028. This indicates a year-on-year growth rate of approximately 1.16% over the five-year forecast period. In 2023, the actual consumption was 85.0 thousand metric tons, showing a consistent annual demand growth.
Year-on-year variations:
- 2023-2024: +1.18%
- 2024-2025: +1.16%
- 2025-2026: +1.15%
- 2026-2027: +1.14%
- 2027-2028: +1.12%
The compound annual growth rate (CAGR) for the period 2023-2028 is approximately 1.15%.
Future trends to watch for include shifts in aquaculture practices, changes in import-export regulations, and the development of alternative protein sources. These factors could significantly influence fish meal consumption trends in Malaysia.
