Household expenditure on fish

IBISWorld forecasts that household expenditure on fish will increase at a compound annual rate of 2.9% to £5 billion over the five years through 2024-25. Over the past five years seafood suppliers have pushed the health benefits of fish consumption, highlighting that fish is high in beneficial omega-3 oils and is a lean source of protein. The depreciation of the pound following the electoral decision to leave the European Union, leading to domestic fish expenditure to expand rapidly over the two years through 2017-18.

Expenditure over the two years through 2019-20 expanded in line with rising household disposable income and customers seeking healthier diets. Expenditure on fish expanded sharply (18.9%) in 2020-21 as households sought healthier diets. In 2021-22 household expenditure on fish fell by 8.5% due to consumers seeking cheaper alternative as inflationary pressure increased food costs significantly. The cost of living is placing pressure on households. Household expenditure on fish is expected to rise by 0.5% in 2022-23.