The total European hake production in capture fisheries for human consumption in the UK is expected to increase steadily from 2024 to 2028, starting at 18.3 million euros in 2024 and reaching 21.226 million euros by 2028. The year-on-year growth rate is consistent, peaking at approximately 4.1% annually. However, exact levels for 2023 aren't mentioned, but it's evident that the trend has been upward.
The Compound Annual Growth Rate (CAGR) between 2024 and 2028 indicates a robust average yearly growth rate in monetary terms, less than 4%. This reflects a healthy and sustainable growth in hake production for the sector.
Looking forward, trends to monitor include shifts in consumer preferences, potential environmental regulations, and competitive pressures from other seafood industries. These factors could significantly influence the market dynamics for European hake in the UK in coming years.
