The UK seafood processing sector experienced fluctuations from 2013 to 2023, with an overall increase in production value from £2.77 billion to £3.37 billion. The sector showed significant volatility, with notable declines in 2015, 2016, and during the COVID-19 pandemic in 2020. After a sharp recovery post-pandemic, growth stabilized. The year-on-year change in 2023 was a modest 1.64%, indicating a stable trend. The sector’s five-year CAGR until 2023 averaged at 3.45%. Forecasted data predict a stable growth trajectory with a forecasted 5-year CAGR of 1.29% from 2024 to 2028.

Future trends to watch for:

Potential impacts from environmental regulations and sustainability initiatives.
Technological advancements in processing and automation.
Shifts in consumer preferences towards sustainable and ethically sourced seafood.
Implications of trade agreements post-Brexit on supply chains and exports.