Pelagic fish demand in Mexico stood at 468.28 thousand metric tons in 2023, experiencing a 2.81% year-on-year decline. Over the last two years, the demand exhibited minor fluctuations, with an 11.3% increase in 2021, followed by a 2.33% increase in 2022, and a decline of 2.81% in 2023. The average annual change over the past five years (2018-2023) was -2.47%, reflecting a declining trend in demand.
From 2014 to 2020, the demand for pelagic fish in Mexico saw significant volatility, peaking at 702.76 thousand metric tons in 2014 and reaching the lowest point of 423.05 thousand metric tons in 2020. Notably, there were sharp declines of 19.7% in 2017 and 19.28% in 2020. In contrast, minor positive trends appeared in 2018 and 2021.
Looking ahead, the forecast from 2024 to 2028 suggests a continued decrease in demand, with a forecasted average annual change rate of -2.59% and an overall decline of 12.29% in the five-year period. By 2028, the demand is expected to fall to 396.14 thousand metric tons.
Future trends to watch for include potential influences from changes in fishery policies, environmental factors affecting fish stocks, and shifts in consumer preferences towards alternative protein sources or sustainable seafood options. Moreover, economic conditions and innovations in fish farming technology could impact future demand dynamics.
