In 2023, the imports of live, fresh or chilled lobsters to the UK stood at an estimated value of 21.8 million USD. As per the forecast, imports are set to increase from 2024 to 2028, with values rising from 22.504 million USD to 25.437 million USD. The year-on-year growth rate reveals a steady increment in imports, with a notable annual increase ranging from 3.3% to 2.9% over the specified period. The compound annual growth rate (CAGR) for the period 2024 to 2028 is projected at approximately 3.1%, indicating consistent growth in demand.
Future trends to watch for include potential impacts of environmental regulations, changes in UK trade policies, and shifts in consumer preferences towards sustainable seafood. Additionally, fluctuations in currency exchange rates and global economic conditions could influence market dynamics, affecting import values and volumes. Monitoring these factors will be crucial for stakeholders in the lobster trade.
