The forecast for Norway Lobster production in the UK's capture fisheries suggests a consistent decline from 2024 to 2028, starting at 4.23 thousand metric tons and decreasing annually. Year-on-year, this represents a decrease of around 6.4% from 2024 to 2025, and approximately 6.8% from 2025 to 2026. This trend continues with a reduction rate of 7% per year up to 2027 and 2028. Over a five-year period, the compound annual growth rate illustrates an average annual decline of about 6.5%.
Future trends to watch include:
- Potential impacts of climate change on marine ecosystems affecting lobster populations.
- Regulatory changes or conservation efforts that may impose restrictions on lobster fishing.
- Shifts in consumer preferences and demand impacting market dynamics.