In 2023, the re-import of prepared or preserved lobster to Canada stood at an estimated baseline of just under 2 million US dollars. From 2024 to 2028, the forecasted figures indicate a steady year-on-year growth, with a projected cumulative growth of approximately 10.6% over this period. The Compound Annual Growth Rate (CAGR) shows an average annual increase of 2.3%. This upward trend highlights Canada's growing demand for imported lobster products, potentially driven by increasing consumer preferences for seafood and the strengthening seafood sector.
Future trends to watch for include potential disruptions in global trade dynamics that may affect import costs, shifts in consumer preferences towards sustainable seafood options, and the impact of seafood industry regulations and environmental factors on lobster supplies.
