In 2023, the production value of gutted fresh sand sole in the UK's capture fisheries stood slightly higher than the forecasted figures for 2024, at approximately 163.5 thousand euros. Forecasts indicate a gradual decline in production value over the forecasted period, with a decrease each year from 2024 to 2028, averaging a year-on-year reduction of around 0.5% to 0.7%. The compound annual growth rate (CAGR) over these five years is negative, signifying a consistent downward trend in the market.
Future trends to watch for include:
- Potential impacts of regulatory changes in fisheries management that could either cushion or exacerbate this declining trend.
- Shifts in consumer preferences toward sustainable seafood options which may affect demand.
- Technological advancements in fishing methods and logistics that might improve efficiency and profitability, potentially altering future forecasts.