The forecast for fresh prawn production in the capture fisheries sector in the UK indicates a consistent decline from 2024 to 2028. The production value starts at 432.23 Thousand Euros in 2024 and is projected to decrease to 383.04 Thousand Euros by 2028. Comparing this with the actual 2023 value, the 2024 forecast shows a year-on-year decline, with the decrease continuing annually.
Year-on-year variations:- 2024 to 2025: Decrease of 2.93%- 2025 to 2026: Decrease of 2.96%- 2026 to 2027: Decrease of 2.98%- 2027 to 2028: Decrease of 3.02%
The average annual decline, indicated by the compound annual growth rate (CAGR) over the five-year forecast period, is approximately 2.97%.
Future trends to watch for include potential impacts from climate change, regulatory changes, and advancements in sustainable fishing practices, which could influence the production levels in the coming years. Additionally, economic factors such as market demand and trade policies may also play a crucial role in shaping future production trends.