In 2023, the production value of gutted frozen cods, hakes, and haddocks for capture fisheries in the UK stood at a higher level compared to forecasted data starting from 2024. The expected decline from 2024 to 2028 is significant, with a year-on-year reduction averaging around 5.6%. This steady decrease highlights a trend of diminishing returns, reflected in a compound annual growth rate (CAGR) over the five-year period.
Future trends to watch for include:
- Potential shifts in consumer preference that could impact demand.
- Regulatory changes affecting fishing quotas and practices.
- Technological advancements in fishing practices and processing.
