The production of frozen European lobster in the UK has experienced significant fluctuations over the past decade. Between 2013 and 2018, there was substantial volatility with dramatic increases followed by severe declines. However, post-2018 saw some stabilization. In 2023, the production value stood at 6.48 thousand Euros.
From 2022 to 2023, the year-on-year variation was 1.49%, building on a previous year's growth of 1.55%. The Compound Annual Growth Rate (CAGR) over the last five years was -16.08%, indicating an overall downward trend despite some positive annual increments.
Looking ahead, forecasted data suggest a relatively stable growth rate with a 5-year CAGR of 1.09%, and an overall growth rate of 5.55% by 2028. This suggests moderate but steady growth expectations for the frozen European lobster production in the coming years.
Future trends to watch for include shifts in consumer demand, potential impacts of climate change on lobster populations, and regulatory changes within capture fisheries. Market conditions such as pricing, international trade policies, and advancements in fishing technology could also play significant roles.
