From 2013 to 2023, the UK’s whole fresh lobster production value has demonstrated fluctuations, peaking at 2023 with 131.89 million Euros. The production exhibited significant year-on-year variations, with notable decreases in 2013 (-21.68%) and 2018 (-13.88%). Conversely, substantial increases were observed in 2014 (19.46%) and 2019 (24.41%). Over the last five years (2019-2023), the Compound Annual Growth Rate (CAGR) stood at 4.07%, illustrating a generally positive growth trajectory.
Forecasted data suggest stable but modest growth. With a forecasted 5-year CAGR of 0.55%, production value is anticipated to reach approximately 136.58 million Euros by 2028, reflecting an overall 2.79% growth compared to 2023.
Future Trends to Watch For:
- Impact of regulatory changes on capture fisheries.
- Technological advances in sustainable fishing practices.
- Market demand fluctuations driven by consumer preferences.
- Environmental factors affecting lobster populations.
