In 2023, Canada's imports of frozen gadiformes fillets (excluding cod, haddock, coalfish, hake, Alaska pollock) stood at an estimated value of 1.62 million USD. The forecast from 2024 to 2028 shows a consistent upward trend, with an anticipated compound annual growth rate (CAGR) of approximately 7.5%. Year-on-year growth is projected to be around 9.3% from 2024 to 2025, 8.4% from 2025 to 2026, and approximately 7.7% yearly through to 2028.
Future trends to watch for:
- Changing consumer preferences towards lesser-known fish varieties could drive higher demand.
- Sustainability and sourcing concerns may impact supply chains and import volumes.
- Fluctuations in global fish prices and trade agreements could further influence import trends.