Canada's fresh and frozen sea fish supply has experienced varied year-on-year fluctuations over the past decade. The supply peaked in 2018 with a volume of 307.28 thousand metric tons, after which it saw slight declines and rebounds, reaching a value of 308.83 thousand metric tons in 2023.
Between 2021 and 2023, the year-on-year variation percentages were relatively mild, with a 6.37% increase in 2021, a 1.69% rise in 2022, and a negligible 0.052% decrease in 2023. The compound annual growth rate (CAGR) over the last five years averaged a modest 0.10%.
Looking forward, the forecast indicates stability with slight year-on-year declines, leading to a projected volume of 308.3 thousand metric tons by 2028. The CAGR from 2024 to 2028 is expected to be minimal at -0.03%, with an overall growth rate of -0.13% over this period.
Future trends to watch for include:
- Climate change impacts on fish habitats and populations.
- Regulatory changes and conservation efforts affecting fishing quotas.
- Consumer demand shifts towards sustainable and locally sourced seafood.
- Technological advancements in fishing and aquaculture.
- Global trade policies and economic factors influencing imports and exports.
