In 2023, the total Northern Prawn production in capture fisheries in Norway was valued at 2.97 Thousand Euros per Metric Ton. The forecasted values indicate a consistent year-on-year decline from 2024 to 2028. Specifically, production value is expected to decrease by approximately 3.48% from 2024 to 2025, 3.97% from 2025 to 2026, 3.76% from 2026 to 2027, and 4.20% from 2027 to 2028. Over the entire forecast period, the Compound Annual Growth Rate (CAGR) is projected to fall by around 3.64% per year.
Future trends to watch for include:
- Changes in climate conditions affecting prawn habitats.- Regulatory shifts in fishing quotas and sustainable practices.- Advancements in fishing technology and methods.- Variations in market demand driven by global economic conditions.
