From 2014 to 2016, Canada experienced a decline in crustacean demand, falling from 187.65 to 150.25 thousand metric tons. A significant spike occurred in 2017 with a 65.31% increase to 248.38 thousand metric tons. The demand remained relatively stable from 2017 to 2020, with some fluctuations and a notable dip in 2020 by 15.16%. The recovery began in 2021, and by 2023 the demand reached 267.93 thousand metric tons, showing a consistent growth with a year-on-year increase of 1.96% and a 5-year CAGR of 1.53%.
Future trends to watch for include the forecasted steady growth from 2024 to 2028, with an annual average rise of 1.53%, expecting to reach 294.13 thousand metric tons by 2028. Factors contributing to this growth may include increased consumer demand, environmental considerations, and advancements in sustainable fishing practices.
