From 2013 to 2023, the production value of fishing and aquaculture in the UK has shown significant fluctuations, standing at 2.31 billion pounds sterling in 2023. The industry experienced notable year-on-year variations, particularly with declines observed in 2015, 2016, and 2020, indicating periods of market volatility. The compound annual growth rate (CAGR) over the last five years from 2019 to 2023 stands at 3.48%, suggesting moderate growth despite these fluctuations.
Looking forward, the production value is forecasted to continue a growth trend, reaching an estimated 2.57 billion pounds sterling by 2028. The predicted five-year CAGR from 2024 to 2028 is 1.7%, translating to a total growth rate of 8.82% over this period.
Future trends to watch for include the impact of regulatory changes post-Brexit, advancements in sustainable aquaculture practices, and shifts in global market demands. These factors could influence the industry's growth trajectory and should be closely monitored.
