The series data shows a consistent year-on-year growth in the production value of European anchovy in the UK, with increments ranging from approximately 1.15% to 1.61% over the forecast period. In 2023, the production stood at a lower value compared to the beginning of the forecast in 2024. As for the compound annual growth rate (CAGR) projected over the five-year period from 2024 to 2028, it suggests a steady yet moderate increase in production value.
Future trends to watch for include:
- An increased demand for sustainable seafood, which could drive up prices or production volume.
- Potential impacts of climate change on fish stocks, which might influence capture yields.
- Evolving trade regulations post-Brexit, potentially affecting export markets and supply chains.
- Technological advancements in fishing techniques and processing that could improve efficiency and reduce costs.