The shellfish farming industry in the UK has experienced significant volatility from 2013 to 2023, with peak values in 2013 followed by a general decline. The industry saw a consistent drop in value, especially noticeable from 2016 onwards. The year-on-year variations include notable contractions, including a nearly 45% drop in 2016 and a consistent decline from 2018 to 2023.
In 2023, the value stood at 17.069 million euros, reflecting a 10.29% year-on-year decrease from 2022. The compound annual growth rate (CAGR) over the last five years is -8.16%, indicating a consistent downward trend.
Looking ahead from 2024, the forecasted data suggests further declines, with a projected CAGR of -14.43% through 2028, leading to an overall 54.12% decrease in value by that year. Key trends to watch include environmental factors affecting shellfish populations, regulatory changes, and potential shifts towards more sustainable aquaculture practices.
