In 2023, the import of fresh or chilled lobsters to Canada was valued at an estimated $337.50 million. Starting from this baseline, the forecast anticipates a steady increase in import value, with expectations of reaching $380.37 million by 2028. Annually, the projected growth ranges from 2.54% to 2.85%. Over the five-year span from 2024 to 2028, the compounded annual growth rate (CAGR) is around 2.47%, reflecting a consistent upward trend.
For the future, trends to watch include:
- Fluctuations in global lobster supply and demand dynamics.
- Changes in trade policies impacting import taxes or tariffs.
- Potential impacts of climate change on lobster habitats influencing supply.
- Consumer preferences shifting towards sustainable seafood sourcing.
