The UK’s frozen Norway lobster production for human consumption is projected to decrease steadily from 2024 to 2028. In 2023, the value stood at a higher level than the forecasts for 2024 and beyond, with forecasts indicating declines of 134.02 thousand Euros in 2024, tapering to 117.01 thousand Euros by 2028. Year-on-year, there is a noticeable downward trend, with a significant decline totaling approximately -4% annually over these years. The Compound Annual Growth Rate (CAGR) reflects this decrease across the forecast period.
Future trends to watch for include potential impacts of Brexit negotiations on fisheries agreements, changes in environmental regulations affecting capture fisheries, and shifts in consumer demand for seafood, particularly as sustainability becomes a greater focus.
