The UK seafood market experienced fluctuations from 2012 to 2022, with notable declines in 2013 and 2016, and significant drops in 2019 and 2020. The period was marked by a major decline of nearly 14% in 2020 potentially due to pandemic-related disruptions. Following 2020, a recovery trend began with 2021 showcasing a substantial 14.56% year-on-year increase and a continued 5.36% rise in 2022. The five-year compound annual growth rate (CAGR) was -0.81%, indicating minor overall growth challenges.
Future trends to watch for include the impact of inflation and economic conditions post-COVID-19, consumer shift towards sustainability and traceability, and potential changes in seafood import/export regulations due to post-Brexit arrangements. Forecasts will need to factor in these variables for accurate predictions.
How does the United Kingdom rank in Seafood Market Size Value?
# | 14 Countries | Euros | Last Year | YoY | 5-years CAGR | |
---|---|---|---|---|---|---|
1 | 1 Spain | 8,625,000,000 | 2023 | +0.43% | +1.35% | View data |
2 | 2 France | 5,603,800,000 | 2023 | -0.7% | -2.49% | View data |
3 | 3 Italy | 5,246,900,000 | 2023 | -0.44% | +2.33% | View data |
4 | 4 United Kingdom | 5,237,500,000 | 2023 | +0.09% | -1.24% | |
5 | 5 Germany | 4,720,100,000 | 2023 | +1.3% | -1.97% | View data |
6 | 6 Poland | 3,745,900,000 | 2023 | +2.82% | +2.91% | View data |