The production value of frozen crustacean tails in the UK capture fisheries is set to increase steadily from €198.63K in 2024 to €240.82K by 2028. This represents a consistent annual growth trend. Year-on-year growth is projected at around 5.5% for each year, outlining a positive upward trajectory for this industry.
The compound annual growth rate (CAGR) over the five-year forecast period is anticipated to be approximately 4.9%, suggesting robust expansion. As of 2023, the value stood at a similar level to 2024 due to stabilization, marking a turning point towards future growth.
Future trends to watch for include:
- Efforts in sustainable fishing, impacting supply and costs.
- Potential regulatory changes in import/export tariffs post-Brexit.
- Consumer demand trends shifting towards sustainable seafood options.
- Impacts of climate change on marine biodiversity and catch volumes.
