From 2013 to 2023, the value of Whole Fresh Norway Lobster production in capture fisheries in Denmark exhibited fluctuating trends. The production value peaked in 2015 at 10.39 thousand Euros per metric ton due to a significant year-on-year increase of 14.56%, then saw a notable decline. By 2023, this value stood at 7.62 thousand Euros per metric ton, illustrating a 17.29% drop from the previous year. Over the last two years (2021-2023), the value showed volatility with both sharp increases and decreases. Between 2020 and 2023, the CAGR was approximately 0.97%, indicating an overall average annual growth, albeit modest.
Looking ahead, the forecasted data points to a slight steady decline with annual values gradually decreasing to 7.32 thousand Euros per metric ton by 2028. The forecasted CAGR over the next five years is -0.65%, denoting a minor contraction in production value.
Future trends to watch for include potential impacts of climate change on marine life, regulatory changes in fishing practices, and shifts in market demand, which could influence production values and volumes going forward.
