In 2023, the UK imported a significant volume of frozen whole cod, marking the baseline for subsequent forecasts. Over the next five years, the projected import volumes show a declining trend. From 2024 to 2028, the import volume is expected to decrease steadily from 5.4724 million kilograms in 2024 to 3.3215 million kilograms in 2028, reflecting a challenging outlook for this market segment.
Year-on-year analysis reveals a consistent decline, highlighting a significant decrease in demand or possible shifts to alternative sources or substitutes. The compound annual growth rate (CAGR) over this period further confirms this downward trend, with an average year-on-year reduction in import volumes.
Future trends to watch for:
- Potential shifts in consumer preferences towards sustainably sourced or alternative seafood options.
- Impacts of regulatory changes or trade agreements that could alter import dynamics.
- External factors such as economic conditions or environmental concerns affecting the fishing industry and supply chain stability.
