The forecasted household expenditure on cod, flounder, sole, and haddock in Canada is projected to see a steady increase from 2024 to 2028. In 2023, this expenditure stood at $20.8 CAD. Moving from 2024 to 2028, the expenditure is forecasted to grow from $21.15 CAD to $22.66 CAD, reflecting a year-on-year increase of roughly 1.85% to 1.6%. Over the five-year horizon, the compound annual growth rate (CAGR) is approximately 1.76%.
Future trends to watch for include:
- Potential changes in consumer preferences impacting fish consumption.
- Impact of environmental regulations affecting supply and price.
- Alterations in trade agreements influencing import/export dynamics.
- Technological advancements in aquaculture boosting domestic supply.
