In 2023, the production value of whole frozen European lobster in UK capture fisheries stood at €15.36 thousand per metric ton. Starting from 2024, it is forecasted at €15.54 thousand, showing a gradual annual increase through to 2028, reaching €16.27 thousand. Year-on-year projected growth rates are consistent, typically around 1.1% annually, indicating stable market conditions. The compound annual growth rate (CAGR) over the five-year forecasted period is approximately 1.2%.
Future trends to monitor include:
- Market responses to sustainability initiatives and regulatory changes affecting capture fisheries.
- Variations in consumer demand influenced by economic shifts or cultural trends.
- Technological advancements in fishing and storage that could impact production efficiency and costs.