The demand for pelagic fish in India has seen significant fluctuations over the past decade. Peaking at 1,390 thousand metric tons in 2014, it gradually declined to 988.56 thousand metric tons in 2023, reflecting a -2.23% year-on-year decrease and a -2.05% CAGR over the last five years. The demand experienced notable drops in 2015 and 2017, decreasing by -10.88% and -15.38% respectively. A sharp decline was observed in 2020 by -18.84%. Although there was a modest recovery in 2021 with an 11.91% increase, the overall trend has been downward.
Forecasted data from 2024 onwards suggests a continuation of this decline. By 2028, demand is expected to drop to 867.59 thousand metric tons, representing a -2.01% CAGR and a -9.64% total decrease over the forecasted five-year period.
A few future trends to watch for include potential shifts in consumer preferences towards plant-based diets, changes in fishing regulations and policies, and the impact of climate change on marine biodiversity, which could further influence the availability and demand of pelagic fish in India.
