The production value of Frozen Norway Lobster in capture fisheries in Denmark has shown fluctuating trends from 2018 to 2023. In 2023, the value stood at 9.2 thousand euros per metric ton, reflecting a year-on-year decrease of 13.82%, following a strong increase in 2022. Calculating the compound annual growth rate (CAGR) over the last five years, we observe an average annual decline of 2.69%. From 2018 to 2023, the market has seen significant volatility with notable dips in 2020 and 2021 before partially recovering in 2022.
Looking into the forecasted data from 2024 to 2028, the landscape is expected to gradually decline, with a 5-year forecasted CAGR of -0.49% and an overall forecasted decrease of 2.41%. This indicates a trend towards stabilization at lower values around 8.92 thousand euros per metric ton by 2028.
Future trends to watch for include shifts in global demand, especially from key export markets, and potential changes in fishing regulations or environmental factors impacting capture yields. Monitoring these factors will be crucial for market participants.
