In 2023, the Northern Prawn production in the UK stood at a certain value. The forecast from 2024 to 2028 shows a consistent decline in production values, starting at 4.47 thousand euros and gradually decreasing to 4.27 thousand euros by 2028. Annually, this represents a year-on-year decrease of about 1%.
Looking further, the compound annual growth rate (CAGR) for this period averages around -1.13% per year, indicating a steady downturn in capture fisheries' prawn production in the UK.
Future trends to watch:
- Impact of climate change on marine ecosystems.
- Regulatory changes in fishing quotas and practices.
- Increasing demand for sustainable seafood options impacting traditional fisheries.