In 2023, the seafood processing turnover in Spain stood at 7.56 billion Euros. Based on the provided forecasts, the turnover is expected to grow each year as follows:
• 2024: 7.77 billion Euros (2.78% increase from 2023)
• 2025: 7.99 billion Euros (2.83% increase from 2024)
• 2026: 8.2 billion Euros (2.63% increase from 2025)
• 2027: 8.42 billion Euros (2.68% increase from 2026)
• 2028: 8.63 billion Euros (2.47% increase from 2027)
The Compound Annual Growth Rate (CAGR) over the five-year forecast period from 2024 to 2028 is 2.68%. These year-on-year growth figures demonstrate a steady upward trend in Spain's seafood processing sector.
Future trends to watch for include potential disruptions from supply chain adjustments, evolving consumer preferences towards sustainable seafood, and regulatory changes affecting seafood imports and exports. Firms operating in this sector should also keep an eye on technological innovations in processing and packaging to maintain competitiveness.
