As of 2023, Canada's fish meal production is recorded at 67.0 thousand metric tons. The forecasted data from 2024 to 2028 indicates a generally stable production level with values at 65.0 thousand metric tons for the initial four years, while a slight decrease to 64.0 thousand metric tons is projected for 2028. This reflects a year-on-year stability between 2024 and 2027, followed by a minor decline of 1.5% in 2028.
Over the last two years (2022-2023), the production level's slight variation suggests a consistent production environment. The compounded annual growth rate (CAGR) over the forecast period reflects a subtle but manageable contraction in production.
Future trends to watch for include:
- Market demand shifts based on global aquaculture and livestock feed requirements.
- Regulatory changes impacting fishery operations and environmental sustainability measures.
- Potential impact of technological advancements in fish meal production efficiency.
- Variations in the availability and price of raw materials.
Keeping a close eye on these factors will be critical for accurately projecting future production trends and making strategic decisions.
