Analysis of the seafood sector in Canada shows a general upward trend in employment from 2013 to 2017, peaking at 8.65 thousand jobs in 2017. Despite a decline in 2018 and a significant drop in 2020, impacted likely by the COVID-19 pandemic, the sector rebounded strongly, reaching 8.96 thousand jobs in 2021 and stabilizing at 8.79 thousand jobs by 2023. The compound annual growth rate (CAGR) from 2019 to 2023 was 1.51%, reflecting moderate growth.
The forecast indicates stable employment from 2024 to 2028, maintaining around 8.8 thousand jobs with a negligible average annual growth rate of 0.01%.
Future trends to watch for include:
- Impact of climate change on seafood stocks.
- Adoption of sustainable fishing practices.
- Technological advancements in aquaculture.
- Regulatory changes and their effects on the labor market.
- Evolving consumer preferences towards seafood and plant-based alternatives.
