The freshwater fish market in Malaysia stood at 195.88 thousand metric tons in 2023. Over the past decade, the market has shown fluctuations with significant peaks and troughs. From 2014 to 2016, there was a notable decline followed by a recovery until 2018. However, in 2020, the market saw a sharp dip during the pandemic, losing 17.3% in volume year-on-year. Post-2020, the market partially recovered but displayed minor declines each subsequent year leading up to 2023. The year-on-year change was -0.34% in 2023, reflecting a less volatile but gradually contracting market.
Key trends to watch for in the future include:
- Sustainable fishing practices and regulations impacting supply.
- Consumer preferences shifting towards eco-labeled seafood.
- Potential effects of climate change and water quality on fish populations.
- Technological advancements in aquaculture increasing productivity.
The market is expected to contract further slightly with a forecasted CAGR of -0.27% over the next five years. Monitoring these trends will be crucial for stakeholders in the freshwater fish market in Malaysia.