It will also examine consumer attitudes towards lobsters - asking, for example, whether people have been put off by poor quality frozen lobsters or whether they see them as an unaffordable luxury.
Mr Wilcock said: "We need to find out if more domestic demand can be created. People don't realise this high-quality product is going straight past the UK market."
He will also be looking at the potential to sell UL lobsters in other foreign markets beyond the EU, such as China.
Some 520 tonnes of lobsters are landed annually on the East Yorkshire coast. The fishery generates £35 million a year to the region's economy and supports 250 fishermen and 200 onshore jobs..
Mike Cohen, chief executive of the Holderness Fishing Industry Group (HIFG), said uncertainty over Brexit and access to the EU market was an important factor in commissioning the study.
"It will be interesting to see what the Hull University study produces - they are excellent in the field of marketing, with a good track record of analysing these situations and advising on them," he said.
David McCandless, chief fishery officer at NEIFCA, described the study as a "very important and timely project".