The production value of squids, cuttlefishes, and octopuses in UK capture fisheries is forecasted to steadily increase from 2024 to 2028, starting at 4.44 in 2024 and reaching 4.79 by 2028, expressed in thousand Euros per metric ton. In 2023, the value stood at 4.35, indicating a consistent growth trend. Year-on-year growth ranges from 2% to 1.7% from 2024 onwards. The compound annual growth rate (CAGR) from 2024 to 2028 is approximately 1.9%, showcasing a steady increase over these years.
Future trends to watch for include:
- Potential impacts of climate change on marine ecosystems, which may influence squid, cuttlefish, and octopus populations.
- Developments in fishing technology and sustainable practices that could affect capture rates and economic value.
- Trade policies and demand shifts both domestically and internationally that might alter production economics.
