Marine Fishing in the UK - Market Research Report (2014-2029)

Catching up: Revenue continues to bounce back from its COVID-19 lows, also benefitting from the removal of EU quotas

This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.

Over the five years through 2022-23, industry revenue is set to drop at a compound annual rate of 2.5% to £982.4 million. Rising health consciousness has propped up fish consumption, driving sales for marine fishermen despite falling seafood catches. Relaxations in regulations related to the Common Fisheries Policy (CFP) have reduced wasteful discarding of fish and boosted marine fishermen's efficiency, supporting profitability. Profitability has also benefitted from more marine fishermen joining Fish Producer Organisations to improve bargaining power within downstream markets. However, a sharp dip in revenue during 2020-21 due to COVID-19-related disruption has weighed on revenue.

Companies in this industry fish for wild seafood in oceanic and coastal waters. A range of gear is used to carry out these activities, including nets, lines and stationary traps.