Aquaculture production of marine and partly-marine species in the UK has shown a dynamic trend from 2013 to 2023, with the value standing at $1.82 billion in 2023. The industry's performance showcased significant year-on-year variations, peaking notably in 2017 with a 31.96% increase, while also encountering declines such as in 2015 with an -11.54% drop. The compound annual growth rate (CAGR) over the past five years (2019-2023) was 5.56%, indicating consistent growth despite fluctuations.
Projected forecasts from 2024 to 2028 suggest a positive trend, with the value expected to reach $2.21 billion by 2028, reflecting a forecasted five-year CAGR of 3.05% and an overall growth rate of 16.22%. These projections point towards steady expansion driven by technological advancements, increased demand for sustainable seafood, and supportive government policies.
Future trends to watch for include:
- Technological innovations improving yield and efficiency
- Increased investments in sustainable and eco-friendly aquaculture practices
- Shifts in consumer preferences towards locally sourced and sustainable seafood
- Potential regulatory changes impacting industry standards and practices
