In 2023, the value of European Hake production in the UK stood below the forecasted 2024 value of 2.67. From 2024 to 2028, a gradual decline is anticipated in value terms from 2.67 to 2.50 thousand euros per metric ton. The year-on-year decrease is evident, signaling a steady decline of approximately 1.5% annually. This trend results in a five-year Compound Annual Growth Rate (CAGR) that reflects the average decline per year.
Future trends to watch for include potential impacts of regulatory changes on capture fisheries, innovations in sustainable fishing practices, and market demand fluctuations influenced by economic conditions and consumer preferences towards seafood alternatives.
